LANewsboy

Hey guys....

I just got a quote from my credit union for an extended warranty on my 2012 460. The car is CPO and is covered by the Lexus warranty until March, 2017.

The Mechanical Breakdown Protection plan I was offered is from American Mercury Insurance Co. I can get a 4 year/100,000 mile policy with the NAV package and zero deductible for about $1,335.

Has anyone had an American Mercury warranty? Anyone know anything good or bad about the conpany?

The fine print seems pretty standard, but is there anything specific that I should check for? Any specific exclusions?

Thanks for any and all advice. This forum has been invaluable to be thru 2 generations of LSs.

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comotiger

Is your CPO warranty good for 100K or unlimited miles? You may want to consider a Lexus Platinum warranty instead of the Credit Union warranty because you could get a much better value. Here's a quote for 7 years for a non-CPO vehicle from Toby Rivers of Shreveport Lexus.

7 year 100000 = $2345
7 year 125000 = $3010

For a CPO vehicle, it is very likely that you will get very similar rates, but the policy would be for 7 years and unlimited miles. So, if you bought it in 2017, you could be covered thru 2024 and unlimited miles for ~$2400. Compare that to the 4 year, 100k warranty that would cover you thru 2021 and 100K miles for ~$1400. Like I said, the rates quoted are for non-CPO cars, so you will want to contact Toby Rivers for an exact quote for your VIN#.

Check out this other thread for a detailed discussion and contact info for Toby Rivers https://www.clublexus.com/forums/ls-...y-service.html

LANewsboy

Thanks very much, AC. I'll talk to Toby next week. I'd love coverage until 2024, but I seem to remember reading something here about CPO cars getting only 4 years total--7 minus 3 (the CPO warranty). I've got some homework to do.

comotiger

Nope, from my extensive research, I learned that the # of years adds to the end of the CPO warranty period. Then again, there are many types of CPO warranties, and may have different terms in different states, so I could be wrong. Same goes for the mileage. Frequently, CPO vehicles qualify for the unlimited mileage terms. It is best to contact Toby, explain your situation, and get a quote for your vehicle. He is very helpful and responsive. Good luck!

LANewsboy

Hey AC,

Just talked to Toby. The plans have changed. He has nothing he can sell me. Car is too old, he said. I outlined the credit union warranty and he said it looked pretty good... just check the exclusions.

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enoch861

I'm guessing this is 4 years or 100k miles more than your odo says? If so that's a great price especially if you drive alot and I'd definitely go for it!
For comparisons sake my warranty from my credit union was around $890 for 4y/50k that covers everything with a $250 deductable.
I haven't heard of American Mercury Insurance Co but at the same time I'd never heard of CUNA Mutual which my CU goes through and my experience with them has been great. So I'd say you should be okay.

comotiger

Sorry, man, that's too bad. Did he know you have a standard CPO warranty thru 2017? That's puzzling, but if Toby couldn't help you, that's tough.

You could get a second opinion from Troy Dietrich in MA. He also has great rates but he generally sells only on the East coast.
Troy Dietrich
Factory Discount Warranty
Toyota & Ford of Greenfield
Fathers & Sons Audi & Volkswagen
Tel. 413-772-0989
tdietrich@fd-warranty.com

LANewsboy

Oh yeah.... I laid it all out for him, and we talked for maybe 10 minutes....apparently it has something to do with the policies changing on extended warranties on CPOs.... his advice was to buy a new car... which I wish I could take!

roadfrog

American Mercury Insurance is rated with 1.5 out of 5 starts with 206 complaints on the Consumeraffairs website. As for their warranties, Ripoffreports website has negative reports as well.

While I always run away from ANY aftermarket warranty, I'd run particularly fast with my head down, WHILE zig-zagging, from this company

aypues

Not sure now, but when I bought my car CPO you could only extend the term of the CPO warranty at the point of purchase, right then and there. You couldnt wait and do it after or from a different dealer like with a Platinum type warranty.

satiger

iTrader: (1)

I recently purchased Lexus platinum warranty from Troy just few days before factory warranty expired. However, for some reason I thought the factory warranty would expire few weeks earlier than Troy mentioned.

Just to confirm, I called Lexus Corp. I asked when my "factory warranty" expires. The CR said Sept 2017 or 60k miles whichever comes first!. I was confused. I asked her if she was referring factory warranty as that can't be through 2017 for my 2012 LS. She said my car is a CPO and that warranty covers through 2017/60k.

Up until then I wasn't aware my car is a CPO! (reason below). Any how, when I asked her if I were to buy platinum extended warranty will that add to 2017/60k, she put me on hold to reached out to Lexus Financial as they write those warranties. She came back and said I couldn't purchase additional warranty on a CPO car except at the time of purchase . The interesting part is I didn't purchase LS from Lexus. When pointed that out and asked her since I didn't purchase through Lexus dealer, shouldn't the CPO be void. She confirmed that's true and mentioned that's why dealers couldn't see CPO date. So, I asked her again, since mine is not technically CPO at the moment could I get extended warranty, the answer was no.

Regardless, I proceeded with Troy and he issued the warranty and I received the paperwork . I assume that's because mine is not technically a CPO since I didn't purchase through Lexus. I believe CPO cars purchased at Lexus may not be able to extend the warranty after purchase.

Regarding credit union and third party warranties, check those exclusions. I got quotes from Route 66 and Warranty direct. Route 66 covers basic mechanical failures. Since mine is equipped with air, radar etc I wanted those to be covered and Route 66 doesn't offer one. Where as Warranty Direct does have add-on to cover those electronics, but the total cost is 1K more than Lexus platinum.

I have used Lexus platinum on my GX and no issues at all. No waiting time, no inspection etc. All my GX repair requests by dealerships were approved and repairs were done on the same day. Peace of mine for me for next 6 yrs/60k miles !!!.

comotiger

Thank you, satiger, I am still confused because the Lexus site appears to contradict this. If you look at the plan availability condition for CPO and used vehicles (see pics captured from lexusfinancial.com), they say VSA can be purchased for CPO car as long as the existing CPO warranty is still active. For used cars, it says the VSA has to be purchased at the same time as the used car! Completely the opposite of what I am hearing here, and what has happened in our cases. I bought the used car in NY several months before I purchased the VSA from Toby. When I asked Toby about it, he said before 4 yr/50K, our used cars are considered new, so that plan availability condition does not apply. Bottom line is Toby and Troy are the experts, so I will stop trying to figure this out. I also have my VSA paperwork good for 10 years/125K, so I am all set