jamesb

I just purchased an '09 RX350, an Magnussen Lexus in California offers a $0 deductable, 7yr/100,000 Paltinuem warranty that is 100% reimburseable at the end of the term if it is mot used. Anyone ever heard of such a program? Thanks, JB

salimshah

Who sold you the warranty is not important. The question is Who is the insuring company? Do not assume if Lexus dealership is the middle_man, then Lexus is the insuring company.

Salim

The G Man

I have heard of that before, very slim change you will never use your warranty, but its definitely a benefit. The problem is that some people will try to pay out of their own pocket to do small repair after the original bumper to bumper warranty is up to try to aviod using the extended warranty. Then another small repair and another. If you do use the extended warranty after that, you will lose out on all the repair cost you pay out of pocket before.

Craig B

Yes, I've heard of it before...

Craig

jamesb

Thank you both for the responses. Also, sorry about the typos! I have just found out from another contributer to this forum, that the "reimbursement" is a third party rider on the official Lexus warranty. I agree with the G Man that the tendency would be to pay out of pocket which then defeats the purpose!

So, I am cancelling the policy today and will purchase from Troy Dietrich ( TDietrich@FactoryDiscountWarranty.com) who has posted in the ClubLexus Forum. He offers the 7/100,000 for $1655. Again, thank you both for the feedback, JB

jamesb

Any thoughts on the cost?

SCRXOwner

I purchased a Lexus Platinum on my 2004 SC430. One person at the Lexus dealership was pushing a warranty that if not used you get your money back and the other Lexus Finance Manager was pushing going with Lexus Platinum only for the SC430. I decided on the Lexus one once he matched a price I was quoted from a post I found on this forum. Since I bought the 08 RX350 new I was not in a hurry to purchase an extended warranty on it at point of purchase.

Once the "get your money back" one was explained I also thought this would work against me ever submitting a claim. I think I would always be hoping that I would get all my money back. It does offer the piece of mind that any extended warranty offers. The Lexus Finance Manager just preferred the Lexus Platinum over the Fidelity (I think this was the other one). Again he stressed the SC430 top being covered by Lexus Platinum.

PS - He said he lost money matching the quote I found in this forum

The G Man

$1655 is a great price.

Joeb427

iTrader: (1)

It sure is.
From what I've read,Troy sells Toyota and Lexus warranties ta $150 over dealer cost.
A great deal.

jamesb

Thank you all for the great info, JB

salimshah

I am lost...

The extended warranty is by Lexus.
There is a 3rd party on top which is insuring that if you do not make a claim you get you initial premium back

If this is the case then the insurance premium (3rd party) adder has to be there. Unless the 3rd party has negotiated better rate for the extended warranty.

Word of caution: Please investigate which company is providing the insurance. A while back, we had clublexus sponsor who paid some claims but eventually vanished. If you still think, it is worth the risk, you should pay by credit card as you may have a recourse.

[My preferred option is to put the money away in bank .. not for interest charges, but consider that the premium for all the cars you own and buy better than average reliable vehicles]

Salim