..Extended warranties...how many of you buy them?
07-08-12, 07:33 PM
#1
Pole Position
Thread Starter
..Extended warranties...how many of you buy them?
I have been reading quite a few posting here on different subjects about our beloved Rxs...and in many instances (I think most) owners indicate that they are either doing it or planning to keep their RXs 350 and 450h way beyond the 4 years of Lexus warranties....
My question is do you buy those extended warranties or you do take a chance and hope for the best?......those of us who keep their RXs longer than 4 years, do you service the Rxs yourself, Lexus dealer or local mechanics?
My question is do you buy those extended warranties or you do take a chance and hope for the best?......those of us who keep their RXs longer than 4 years, do you service the Rxs yourself, Lexus dealer or local mechanics?
07-09-12, 03:53 AM
#2
Moderator
You're in for a huge debate with these two subjects -- value of extended warranty vs self-insurance, and who services the vehicles. Lots of opinions and variations on approaches as you likely expect having perused these boards. 
For me, I have a 8 yr/75K/$0 Lexus Service Agreement on my 2013 RX450h. Lexus services my vehicles. (I keep my vehicles avg 5-7 years, pay cash, am now retired with fixed income, and like knowing there will be ZERO major expenses for effectively the life of the vehicle beyond normal maintenance. While Lexus gets to work on my money having purchased the agreement early, the benefit to me is my price was fixed at lower cost in earlier years and I get a refund for months not used should I sell/trade the vehicle before the expiration of the service agreement -- and there is value at the time of 3rd party sale if done before expiration).
As side notes, I had the Lexus extended warranty on my 2006 RX400h and 2002 SC430, with an aftermarket (non-OEM) plan on my 2009 BMW 335i. I never had an extended warranty on any of my vehicles until the SC with it's numerous motors driving the first hardtop convertible and all those electronics that had not yet been proven. When I researched back in 2001 and found the least expensive motor for the SC top was a $400 part, I decided to get into the extended warranty game. My RX400h when I bought it in 2005 was the first Lexus hybrid, with no maintenance track record, so I made the same decision. Without looking up the detail again (it's in some other posts somewhere), I lost a couple hundred bucks on the cost of the agreement vs what was paid out on the SC, it paid for itself likely several thousand dollars-wise on the RX400h. BMW never got out of mfgr warrranty before I sold the vehicle, but I recouped 100% of my cost on the transfer of the agreement to the new owner. There was a definite advantage to selling the vehicle and getting a better price because of the extended warranty. I didn't have service agreements on my older RX300 and SC300, and they would not have likely paid off -- minimal expense beyond maintenance on the RX after warranty expiration, and only $1K or so on the SC that I can remember.
So, would I buy an extended warranty again? As you already know, Yes in my case. If I was planning to be employed for the life of the vehicle, perhaps not with my RX450h because of it's now proven dependability. If I some day purchase the first run of another new technology vehicle -- perhaps hydrogen -- I'd probably buy the extended warranty regardless as I did on my original RXh. If I ever had another German car (and I most likely won't) with their rather poor longer-term reliability and excessive maintenance costs, an extended warranty would be a must have if I planned to keep it beyond basic warranty. No question.
Good luck with your decision. It will be just like going to Vegas -- it's all about the crap shoot of what "could" happen and your confidence in the numbers.
For me, I have a 8 yr/75K/$0 Lexus Service Agreement on my 2013 RX450h. Lexus services my vehicles. (I keep my vehicles avg 5-7 years, pay cash, am now retired with fixed income, and like knowing there will be ZERO major expenses for effectively the life of the vehicle beyond normal maintenance. While Lexus gets to work on my money having purchased the agreement early, the benefit to me is my price was fixed at lower cost in earlier years and I get a refund for months not used should I sell/trade the vehicle before the expiration of the service agreement -- and there is value at the time of 3rd party sale if done before expiration).
As side notes, I had the Lexus extended warranty on my 2006 RX400h and 2002 SC430, with an aftermarket (non-OEM) plan on my 2009 BMW 335i. I never had an extended warranty on any of my vehicles until the SC with it's numerous motors driving the first hardtop convertible and all those electronics that had not yet been proven. When I researched back in 2001 and found the least expensive motor for the SC top was a $400 part, I decided to get into the extended warranty game. My RX400h when I bought it in 2005 was the first Lexus hybrid, with no maintenance track record, so I made the same decision. Without looking up the detail again (it's in some other posts somewhere), I lost a couple hundred bucks on the cost of the agreement vs what was paid out on the SC, it paid for itself likely several thousand dollars-wise on the RX400h. BMW never got out of mfgr warrranty before I sold the vehicle, but I recouped 100% of my cost on the transfer of the agreement to the new owner. There was a definite advantage to selling the vehicle and getting a better price because of the extended warranty. I didn't have service agreements on my older RX300 and SC300, and they would not have likely paid off -- minimal expense beyond maintenance on the RX after warranty expiration, and only $1K or so on the SC that I can remember.
So, would I buy an extended warranty again? As you already know, Yes in my case. If I was planning to be employed for the life of the vehicle, perhaps not with my RX450h because of it's now proven dependability. If I some day purchase the first run of another new technology vehicle -- perhaps hydrogen -- I'd probably buy the extended warranty regardless as I did on my original RXh. If I ever had another German car (and I most likely won't) with their rather poor longer-term reliability and excessive maintenance costs, an extended warranty would be a must have if I planned to keep it beyond basic warranty. No question.
Good luck with your decision. It will be just like going to Vegas -- it's all about the crap shoot of what "could" happen and your confidence in the numbers.
Last edited by BertL; 07-09-12 at 03:56 AM. Reason: Fixed typo
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heshamos (08-28-18),
Seabone726 (03-19-20)
07-09-12, 05:22 AM
#3
Pole Position
Thread Starter
Bertl, I love your answer, well thought out, I am also retired and this is one of those occasions in which, after buying many cars/suv, that I am completly "in love" with my RX and for the first time I may be keeping the RX longer than the 4 years and if so I better decide now on the extended warranty.
Believe me the last thing in my mind is to be "controversial" or create a "debate".....I have already made a few comments here that almost got me expelled...but that is another subject for another forum..<S>...
Defenitely the RX,specially the 450h is a very complex "animal" and if not serviced by Lexus (even thou not requiered by warranty coverage) it will make life somewhat easy, in my opinion if and when any issues come up, the dealer will be on your side (since you are a customer) in helping to resolve a difficult issue with Lexus.
Thanks for your insight it is appreciated...
Believe me the last thing in my mind is to be "controversial" or create a "debate".....I have already made a few comments here that almost got me expelled...but that is another subject for another forum..<S>...
Defenitely the RX,specially the 450h is a very complex "animal" and if not serviced by Lexus (even thou not requiered by warranty coverage) it will make life somewhat easy, in my opinion if and when any issues come up, the dealer will be on your side (since you are a customer) in helping to resolve a difficult issue with Lexus.
Thanks for your insight it is appreciated...
Last edited by svofan1; 07-09-12 at 05:25 AM.
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Seabone726 (03-19-20)
07-09-12, 06:52 AM
#4
If you do decide on the extended warranty, search the site. You do not have to purchase it from your own dealer. I saved a bundle by purchasing from someone suggested on this forum.
07-09-12, 07:37 AM
#5
Driver
I bought the 6 year, 160,000km warranty extension when I got the RX. I had a VW Passat wagon before the RX which had an extended warranty and it paid for itself within a year of the basic 4yr/80K km warranty running out. Admittedly it was a VW which doesn't have a great reputation for reliability but the transferable warranty also help get top dollar as a trade.
My dealer does all the service work on the car. When I was young and poor I sometimes used shade tree mechanics and even did my own oil changes but since the 1980s I've used the dealer for all my mechanical and service work. I do however often get my tires at tire shops.
My dealer does all the service work on the car. When I was young and poor I sometimes used shade tree mechanics and even did my own oil changes but since the 1980s I've used the dealer for all my mechanical and service work. I do however often get my tires at tire shops.
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heshamos (08-28-18)
07-09-12, 11:10 AM
#7
Lexus Test Driver
Let me start by saying i buy Apple Care for my Macs.. Except for the iphone which i'll probably sell once the next generation comes out.
So to address you questions..given the parameters you mentioned, my short answer is YES!
Especially if you're buying a 450h which has a"newer" technology compared to a 350.
With extended warranty, what yo're purchasing in actuality is Peace of mind. As long as you read through the fine print on what's covered and what's NOT.
Personally, i don't buy one since i don't normally go over the Basic/ Factory warranty period. Having more than a couple of cars will do that to you. Ialso do my own oil change, bring my Lexus to a Toyota service Department in the past for routine maintenance such as 30,000 miles.
So to address you questions..given the parameters you mentioned, my short answer is YES!
Especially if you're buying a 450h which has a"newer" technology compared to a 350.
With extended warranty, what yo're purchasing in actuality is Peace of mind. As long as you read through the fine print on what's covered and what's NOT.
Personally, i don't buy one since i don't normally go over the Basic/ Factory warranty period. Having more than a couple of cars will do that to you. Ialso do my own oil change, bring my Lexus to a Toyota service Department in the past for routine maintenance such as 30,000 miles.
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Seabone726 (03-19-20)
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07-10-12, 03:53 PM
#8
I have typically purchased an extended warranty for "peace of mind" as others have stated. I do it because I think I'm going to keep this one for more than 5 years. Alas, I don't know that I've ever kept a car that long. The new ones just have so much neat stuff on them! I seriously considered NOT buying the extended warranty on my 2013 Rx 450h but went ahead and did it in the end. Unlike some of the others I put more miles on - typically about 15K/year - and always run out of miles before years. I got the 6 yr/100k mile warranty, $0 deductible for $2500.
*One important item to note* is that if/when you trade in your vehicle you can cancel the extended warranty and get back the pro-rated unused portion of the money you paid. I traded in my 2008 Rx400h on my wife's 2012 ES 350 and will get back a little over $1400 on the mechanical and gap warranties. We just traded it last week with 70800 miles. I had purchased a 6 year/100k mile warranty. I didn't use the warranty because nothing went wrong with the vehicle but like others have said, it gave me peace of mind.
*One important item to note* is that if/when you trade in your vehicle you can cancel the extended warranty and get back the pro-rated unused portion of the money you paid. I traded in my 2008 Rx400h on my wife's 2012 ES 350 and will get back a little over $1400 on the mechanical and gap warranties. We just traded it last week with 70800 miles. I had purchased a 6 year/100k mile warranty. I didn't use the warranty because nothing went wrong with the vehicle but like others have said, it gave me peace of mind.
07-10-12, 08:15 PM
#10
07-11-12, 06:04 AM
#11
We currently have 5 Lexus in the extended family and none has extended warranty. However, when my 450h gets closer to 48k miles I will buy extended warranty for it (assuming I don't trade it in before that...)
07-11-12, 10:46 AM
#13
I got the Lexus factory platinum zero deductible 7 year, 75,000 mile warranty for around $1200. $600 less then what my own dealer wanted to charge me. I felt that was a fair price for a vehicle with so many high end (read expensive) features.
07-11-12, 11:40 AM
#14
My dealer tried to sell me a $2600 warranty on my CPO 2011 in FebFeb. It seemed like too much money. I would be interested in one that would extend my 3 year warranty, if reasonable. Anybody have any recommendations of what dealer(s) I'd looking for a good deal? PM me if you don't feel comfortable posting here.
07-11-12, 11:51 AM
#15
Moderator
My dealer tried to sell me a $2600 warranty on my CPO 2011 in FebFeb. It seemed like too much money. I would be interested in one that would extend my 3 year warranty, if reasonable. Anybody have any recommendations of what dealer(s) I'd looking for a good deal? PM me if you don't feel comfortable posting here.