Hi Everyone,
I'm new to the board. Any suggestion on extended warranty?
I just got an RX 350, an are planing to keep it for more then 5 years.
Should I get it? if so get it from the dealer?

 

if you do elect to get one i would only get the lexus financial services plan, not aftermarket

 

can you elaborate a bit more ?? "lexus financial services plan". This is my first new car. Correct me if I'm wrong, you are saying get it at the dealer?

 

no, not exactly. dealers do offer aftermarket plans as well as the factory plan. i am saying only get the factory plan that is backed by lexus financial services

 

Dealers can sell the factory extended warranty any way they want. Print out the plan from the lexus website and compare it against the plan that the dealership is offering to make sure there aren't any add'l charges.

Thanks,
eagle

 

ic,, thanks for the help everyone !!!

 

There are two issues (although sequential).

Is it worth getting extended warranty?
Reialbilty is high, but no gaurantee that you will not have a failure. So the question is about taking the risk. The insurance company exist as they end up making money in this business. Most folks loose money but a few have come out ahead. I estimate $1200 for a repair visit.
[Note: read all about what is include and what is excluded]

If you decide to get extended warranty which one?
Lexus provides extended warranty upto 100k 6yr. This is sold and negotiated by your sales person. Dealership, Banks, credit unions, and net sell third party insurance as well. Do a comparison shopping but my personal reccomendation will be to buy the Lexus extended warranty. During warranty repairs, the dealership deals directly with Lexus corp for warranty repair.
Also keep in mind the fianancial stability of the insrance company, else you may loose your premium and not get reimbursed for warranty work.

Last few things:
Extended warranty kicks in after your regular warranty runs out. So a 100K is really 40k.
Try self insuring yourself by stashing the money away. This makes more sense if you have more than one vehicle.
Dealership can also sell you non-lexus extended warranty so read and ask questions.

Salim

 

actually, lexus offers up to 7 years / 100k miles from the original service date, so you are really purchasing an extra 3 years and 50k more miles bumper to bumper coverage

 

I assume your financing, since leasing you would not need it. Oops I didnt see the five year deal lol nevermind...

 

How long past 5 years do you plan on keeping the car? How many miles to you think you will rack up in that time? If less than 100K I wouldn't purchase any additional warranty unless it was a really good deal ($1000 or less).

 

I estimate a single repair job to cost around $1200 (not the minor stuff and not the major stuff). Based on this I estimate the extended warranty at minimum of 1.5 times ==> $1800.

$1000 will be a too good an offer.

Ohter way to get an idea is to look at the price difference between CPO and non CPO at the used cars area.

Lexus extended warranty can be trasnferred once for $50. That may give an edge when you resell the RX before 100K. By how much? I dont know.

I strongly feel that self insurance is the best way to go, specially if there are multiple cars in the family. That is exactly what the insurance companies are doing at yet larger scale.

Salim

 

my reasoning in getting an extended warranty would be different in a way. I not only want the big stuff covered but also little stuff like squeaks and such. I can only imagine what it would cost to find and fix a squeak at $90+/hr especially when now they sometimes keep the vehicle for 1-2+ days to fix the squeak. I am sure if I didn't have the extended warranty, I would just not get the squeak fixed which in the end reduces my enjoyment of the vehicle.

 

My '04 RX330 car has only 26K mileage and the warranty expires Nov. '07. Does Lexus have warranty for 7 yrs/60K mileage or something similar to that?

 

Lexus Warranty prices vary a lot depending on the dealer you buy it from... for example, this thread(about the ES350) shows one dealer charging $1800 for a 7yr/75k warranty, but quicky reducing it to $1080 when the buyer tells them of another dealership offering it at that price. Personally, I just bought a 7yr/75k platinum warranty for my Toyota 4Runner for $585 when the retail is $1350! I got it from a guy that works at a Toyota dealership in another state that posts on a 4runner forum. It just shows how much they make on these warranties if they can sell them at retail. Good luck finding a good deal and if you do, let us know about it so we can find some good prices.