don't worry --- this is from a lexus dealer......


https://www.warrantylex.com/lexus.html

 

extended warranty of any sort is a waste of $ ?

cos you only pay that sum of $ for anything beyond 4 year/50K miles.....

 

Heres what they quoted me:

Plan: Gold
Model: IS 250
Coverage: 7 Years / 100,000 Miles
Deductible: $50
Price: $1,250.00

Not too bad I guess, I just dont want to keep the car that long. After 3-4 years Ill want something new.

 

In case anyone is interested here is the differences between the three plans.

 

is it true you can get your extended warranty back if you do not use it? i think that is what i recalled hearing...

 

Wow, well if that were the case I think more people would be for it, but they never offered me that perk or option.

 

I paid $1700 for the 7 year 100k Platinum plan with $0 Deductible. I plan on keeping this car that long (unless I win the lotto or invent the next YouTube! lol)

 

Here is their quote on that...

Plan: Platinum
Model: IS 250
Coverage: 7 Years / 100,000 Miles
Deductible: $0
Price: $1,615.00

- or -

Plan: Platinum
Model: IS 250
Coverage: 7 Years / 100,000 Miles
Deductible: $50
Price: $1,565.00

Just for everyones comparison.

 

hummm, I'll have to ask them about that!

 

Just wanted to add that the extended warranty can be bought anytime during the first 4yr/50K miles. Of course price changes can happen but there really is no need to rush to buy it. For me I'll decide on this when my car is close to 4yr/50K.

 

Most any vehicle service agreement can be cancelled for the balance of the miles/time left and you can be refunded the difference. In the event you sell the car prior to the end of service agreement period. Platinum is generally worth the cost upgrade vs gold if you compare what's covered.

 

To me, it's money WELL invested. You can get a 7 yr/100K warranty for well less than $2000, and NEVER have to worry about having to pay for a repair (except for the few exceptions that are considered wear and tear).

Yes, it is generally prorated, which is another reason to get it

Why.....see my response below

I believe the longer you wait, the more money you pay (independent of increases due to inflation). And I also believe that you should go with the one that has the most coverage.


ALSO, don't forget that the warranty is TRANSFERABLE!!!, which helps tremendously with resale.

So, my take: I get the extended warranty with ALL of my cars. After one or two repairs it's paid for itself. But, let me add, I usually buy my cars as 1 yr old used cars with < 10000 miles, so the money I save in not paying for depreciation go into the "warranty" fund, making the car have a MUCH better warranty than if I bought it new.

(and, sorry for all the caps )

 

Earlier this year I called the dealer that the OP linked, their response was that the price is the same for a brand new car vs. a car with almost 4yr/50K.

 

+1. I tend to think/believe that Lexus/Toyotas are bulletproof. That said I'll wait til 4yr/50k to make my decision on an ext warranty as well. I can see where a few blown pixels on my Nav screen will more than pay for the warranty. . .

 

For those of you in the market, I believe you can shop around to Lexus dealers for the best price. It doesn't have to be your selling dealer.

Another car club I belong to has a dealer in Texas who sells us OEM warranties for $100 over dealer cost. Unfortunately it's not a Lexus dealer, but wouldn't this be an interesting opportunity for some CL Lexus sponsor to step up to. Hint...hint.

There is some strange Florida law that restricts dealers in this state from discounting extended warranties...or so they would have us believe.