Extended Warranty & Maintenance Plan?
 

My dealer is trying to sell me extended warranty and maintenance plan. What do you guys think? I do intend to keep my car for very long time and give to my son when he goes off to college but for my last car, 2002 Acura TL-S, I used it for 13 years with no major repair bills and price they are asking for seems very high (way more than what I spent out side of any regular maintenance for my Acrua). Are there any reputable third party alternatives for extended warranty with better pricing?

Extended Warranty
8 Years / 125,000 miles: $3,975
8 Years / 75,000 miles: $2,455

They are offering me $400 discount from above prices if I purchase it by end of this month.


Maintenance Plan
4 Years / 40,000 miles: $1,440
4 Years / 50,000 miles: $1,850
5 Years / 50,000 miles: $1,870
5 Years / 90,000 miles: $4,155

It depends on how many miles you drive during that period! In most cases, extended warranty isn't worth it. You could also purchase extended warranty anytime during the 48 months factory warranty period. Plus you could buy it from any Lexus dealer and there are some dealers in the country whom r selling for much cheaper than the $400 discount. I would say drive your car for now and see how well the car holds up before purchase it.
Same go for the maintenance program. Not worth in my opinion. Especially for someone who knows how to do basics maintenance themselves.

Thanks for the information about being able to purchase during the factory warranty period. I'm not really leaning towards getting it especially at those prices. I drive about 7,000 miles per year.

Only 7,000 miles/year? Then it is definitely not worth it. Take a look at the Maintenance schedules, nothing really need until around 60k miles (even then the most expensive items would be sparkplug changes). The IS is very low on maintenance requirements.
On the extended warranty, you have up to the date or the mileage expire to purchase one. In your case, just forget about it;)

Where can I see the maintenance schedule for the 3IS? Thanks.

Here ya go!
http://drivers.lexus.com/lexusdriver...ce-schedule.do

Haha... You beat me to it. While you are there, register yourself and your car; many great info/resources there. You will also be able to see service records/histories and update record if you are diy on maintenance services.

I chose neither plan. I plan to keep my care for the long run, by the way. In addition to some of what others have said, here is my reasoning:

As far as the mainenance plan, buying it would only make sense if paying for maintence up front would offer a significant discount at the time of service, factoring in the time value of the money. This clearly does not seem to be the case.

Considering the extended warrenty, as others have said, it makes no sense to lay out the cash now since it can be purchased any time before the original warrenty expires. My dealer said I could choose a plan that covered the car up to 110,000 miles. Given my experience with our other Lexus, I am not going to purchase the plan. Our 1999 RX 300 has about 200,000 miles currently. Outside of routine maintenience items, we replaced NOTHING until 195,000 miles, at which time we had a new alternator installed. Now, my wife has an '13 Audi A5 convertible. We have had no problems with this car, with reliability on this model (post 2010) reportedly very good. However, this is not a Lexus, so I will certainly purchase an extended warrenty for this vehicle if my wife decides to keep it for the long haul.

The extended warranty on my Rx400h saved me $8000...transmission

The biggest reason to buy an extended warranty is that you can build it into your finance payments and thus not have any unplanned expenses because of a car repair. So in general if you can afford to fix the car if it breaks outside of the warranty, an extended warranty doesn't make sense. And yeah, at 7000 miles a year, I wouldn't even consider it.

Endaar

One of the reasons I bought Lexus is because of its top reliability reputation. Buying extended warranty for Lexus would contradict this notion, now wouldn't it?

Finance guy was pissed when I told him that but he went on explaining that aside from mechanical issues that are unlikely to happen in Lexus, there are some electrical components that may fail such that moving F-Sport gage cluster. Well... I refused. And I think I made a right decision.

Thanks guys for all your inputs. I'll hold tight and see what my experience is with Lexus build quality over the next few years. In my limited hands on experience car feels like it's built very well and I'm really enjoying it. hopefully this will last for many many more years! :D

Thank you!

You can always consider buying the warranty from here once the manufacturer warranty expires.
http://fd-warranty.com/index.html

Dealers mark up warranties considerably. You can buy the exact same warranty from Factory Discount Warranty for much less money.

Agreed. It makes no sense to me to bargain hard for the car and then fritter it away when the Finance Manager tries to strong arm you into an extended warranty.

I bought the 8yr 100k extended warranty since I'll be holding on to mine for a bit