Extended Warranty Question
Thread Starter
Driver School Candidate
Joined: May 2006
Posts: 9
Likes: 0
From: CA
Extended Warranty Question
We are getting a used IS350 that is 3 years old and only has 13K miles. I am told that we can buy the Lexus extended warranty from the dealer for the car. Any idea what these run? Do different dealers charge different amounts - or are these one price.
Thanks,
Dave
Thanks,
Dave
There is a certain "cost" to the warranty, so what one dealer may sell it for, another dealer may try to make more money on it and sell it for more. Im not sure what the warranties sell for though...
Pole Position
Joined: Aug 2008
Posts: 273
Likes: 0
From: Ca
So another word, the mark up cost for the warranty vary from dealer to dealer. So if you bought the car used from a Lexus Dealer, probably try to get a deal on extend warranty from that dealer.
When i bought my car, the saleman/finance person try to sell items, but i decline. So ultimately, he slash 50% off on all the price, but i still say no.
When i bought my car, the saleman/finance person try to sell items, but i decline. So ultimately, he slash 50% off on all the price, but i still say no.
So another word, the mark up cost for the warranty vary from dealer to dealer. So if you bought the car used from a Lexus Dealer, probably try to get a deal on extend warranty from that dealer.
When i bought my car, the saleman/finance person try to sell items, but i decline. So ultimately, he slash 50% off on all the price, but i still say no.
When i bought my car, the saleman/finance person try to sell items, but i decline. So ultimately, he slash 50% off on all the price, but i still say no.
Instructor
Joined: Oct 2007
Posts: 760
Likes: 3
From: VA
I'd be concerned with cost but weigh that against the product. I had two dealers try and sell me "non-brand" warranties. By that I meant I bought a Nissan and Acura and they tried to sell me generic warranties NOT backed by the brand I bought. BE CAREFUL that it truly is a "Lexus" warranty. I had to ASK for the branded warranty. The Nissan dealer confessed to me they are "pushed" to promote non-brand as profit is better.
Expect to pay based on the level of coverage and as other mentioned depends on area your purchasing in, call a few dealers for quotes.
Expect to pay based on the level of coverage and as other mentioned depends on area your purchasing in, call a few dealers for quotes.
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Driver
Joined: Dec 2008
Posts: 124
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From: alberta
Definitely go with a "brand" waranty. Had a non-BMW extended warranty on our 740i, was a pain to get anything done on it. Always had to get the work done before they would approve a warranty payout. Friend had a 740i with the BMW warranty, and never had a problem finding out if something would be paid for before he authorized a repair.
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I deal with a lot of aftermarket warranty companies. Some are good, some not so much. I always cringe when a customer walks in with their warranty paperwork... Just the other day, a customer had a leaky radiator (was leaking transmission fluid from the trans cooler portion of it). Thinking that would definitely be a covered repair, I just called without reading his warranty book... Turns out the water pump, thermostat and everything else in the cooling system is covered except the radiator and hoses. I can understand hoses not being covered on a vehicle with higher mileage, but a radiator... that sucks...
Now, $260 for a warranty sounds real cheap. Most warranties that I get to see what the customer paid for cost between $1200 and $3000, depending on the car and coverage.... $260 sounds real low...
Now, $260 for a warranty sounds real cheap. Most warranties that I get to see what the customer paid for cost between $1200 and $3000, depending on the car and coverage.... $260 sounds real low...
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