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I would like to ride on this thread as well. Got a 2016 CPO that is covered until 2021 and is being offered an extended 5 year warranty until 2026 for $2,800. Is it worth it?
Originally Posted by Mr666
I would like to ride on this thread as well. Got a 2016 CPO that is covered until 2021 and is being offered an extended 5 year warranty until 2026 for $2,800. Is it worth it?
the way they word the extended warranty is from the original mile of the vehicle, not additional. Let’s say you bought a 2 year/unlimited mile extended warranty and they would word it as 6 year/unlimited mile. Even though you ate not actually getting 6 additional years.
But If you are actually getting 5 year extended warranty for 2800, i wouldgo for it. The most i have seen them offer is 4 years and they are around $5-7k
Here are the pics of the extended warranty brochure. It is called Extra Care Warranty and offered by Lexus Financial Services. It starts at the end of the CPO warranty, which is 2021, so will then extend the warranty until 2026.
Here is the coverage. The last pic contains the exclusions.
I think can see this being 10 years out.. it's early here and haven't had my coffee yet.:-) On the Infiniti's on a new one anyway... if you wait until just before the basic warranty expires before purchasing Elite warranty they CPO the car and give you one extra year of coverage. I was able to get get over 9 years of factory warranty but it did have a 100k mile limit. I think they let you go up to 125k miles now. Nothing unlimited like Lexus here.
"1 Time coverage periods are measured from the expiration of the L/Certified Limited Warranty. Mileage is unlimited. Coverage expires upon reaching the maximum time of the coverage period selected. See your Agreement for complete terms, conditions, and restrictions."
"* Note: L/Certified Limited Warranty comes with every L/Certified purchase or lease. Limited Warranty is valid for a minimum of two years/unlimited mileage after the expiration of 4-year/50,000 mile new vehicle Basic Warranty, or two years from your L/Certified purchase or lease date, whichever occurs later. See the L/Certified Warranty Supplement & Roadside Assistance Guide or your Lexus dealer for details."
I went for it when I picked up my 2014 CPO Lux. There were two big factors for me. One was the unlimited mileage benefit (which was already mentioned) but the second was the no charge one time transfer to the next owner. Granted it wouldn't be a big benefit if you were planning on driving your GX into the ground but for me it will provide a great benefit to the resale value if I choose to sell it and upgrade to the LX in a few years. I mean these vehicles are already built like tanks but having a zero deductible unlimited mileage warranty directly from Lexus would ease the majority of concerns for potential buyers.
Originally Posted by Mr666
Here are the pics of the extended warranty brochure. It is called Extra Care Warranty and offered by Lexus Financial Services. It starts at the end of the CPO warranty, which is 2021, so will then extend the warranty until 2026.
Here is the coverage. The last pic contains the exclusions.
Anyone had experience with autonation warranty? they also offered 2 year/40k miles bumper to bumper for around $2.5k, but i'm not sure how easy it is to actually claim something with them if something happens, and if it's worth the money.
If I was buying anything British, German, or America then I would probably try and negotiate a good deal on an extended warranty but for a Lexus? Not a chance. I think that even a CPO Lexus is a waste of money because the chance of you having a failure are slim to none IMO. Obviously some people will chime in and say how the warranty they purchased paid for itself but I still feel that is a rare occurrence with a Lexus vehicle.
A bit off topic, I had a buddy buy a Jaguar XJR and while shopping for it, I implored him to get an extended warranty because the XJR was not going to be like the 460L he was giving up. Sure enough, the extended warranty paid for itself in the first two months of ownership where he had over $6,000 in claims.
Hello, everyone - I am in the process of purchasing a certified pre-owned 2016 with 40k miles. The dealer is offering a "bumper to bumper" extended warranty for 2 years/$2000. Is it worth it? Does anyone have experience using one of the Lexus vehicle service contracts?
I should also mention this would cover the 2 years after the Lexus certified pre-owned warranty expires, which is in about 4 years.
this is a long shot, but if you are looking at a white 2016 in california (pleasanton lexus) with that mileage I would skip it. I test drove it yesterday and it was owned by a smoker, which was not mentioned in the ad. The sales person told me that someone from Texas from flying in to buy it.
I got the 2 year on my 2016 CPO from Santa Monica Lexus.
Make sure to negotiate. The finance guy can piece out any parts of the contract at any level. I think I got the platinum, but I had him remove several features from it first.
A lot of the stuff offered in the platinum is duplicated my my insurance policy, so I didn't need it. I already have wheel and glass replacement. And rental car. And gap. And overnight. Etc etc.
I got my wife a 2015 gx460 luxury with all the bells and whistles when it was 1 year old and with 25,000 miles on it. Fast forward to today and we are at 58,000 miles.
i can buy a pretty comprehensive 4 year 60,000 mile warranty for $3,300. My mind is telling me hell no but this car has a lot of electrical components and I have heard this can cause repairs to be expensive.
we will keep the car to 120,000 or so and then look for something else.
Like many, I am not a fan of extended warranties. Let's face it, buying an extended warranty is playing an actuarial game. The warranty company is betting they will have less than $3,300 in costs over the term (4 years in this case) and you are betting that your expenses will be greater.
Do you REALLY think you will spend more than $3,300 in unexpected repairs over the next four years? If yes, than the warranty is probably for you. Maybe another option would be to skip the warranty and put the $3,300 in a separate account (away from your normal/day-to-day accounts). Let’s call it “auto repair fund” (I actually have one of these myself).
Now you have your own personal fund specifically for unexpected repairs. If you need it, you are covered (albeit only to the limit of what’s in the fund). If you don’t have any repairs OR if the cost of the repairs over four years is less than your fund…you are way ahead. Heck you might even earn a little interest!
You have one of the most reliable vehicles available anywhere, but at the end of the day it’s your money. If you feel better knowing you have a warranty until 2022-23 and don’t mind spending the $3,300 to do so, there’s no shame in purchasing it.
Would also advise against an extended warranty, especially if you've not experienced any issues in the past year. This is not a newly designed or 1st year design vehicle so the build and components are already well tested and known quantities. The likelihood of needed extensive repairs due to abnormal parts failure tends to be fairly low.
I'd look into the "pretty comprehensive" part more thoroughly and see what it covers.
I don't know what type of road conditions your wife drives in but I don't see any stock struts lasting anything over 75k miles...if driven over crappy roads...likely one will spring a leak...and that's about 5-600.
Another thing with your lux package is the air suspension...one issue such as a compressor with that will probably cost 1500 in parts alone and 2.5 to 3k to have it repaired at the dealer.
if not too much of a burden, it's a daily driver for the wife, I'd buy and just forget about it. (my wife has a low threshold for car problems)
08-24-18, 11:36 PM
