tron1975x

Hi all, I purchased a 2019 RX 350 yesterday and was asked about buying the IBEX protection (straight-out no), but I paused at the tire and wheel protection. They're offering the Platinum Plus (includes ding/windshield repair) package at $1,595, but the finance manager said there is some negotiation available with it. Two questions:

1. IF I wanted it, what would be a good price to offer for it? $1,300 perhaps?
2. What are your thoughts? Did you purchase and use it, or how about not purchase it and later regret it?

I'm on the fence with it and I know everyone's experience will vary, but the booklet is staring me in the face and I'm wavering back and forth. Thanks!

Usual

There is a thread on extended warranties
https://www.clublexus.com/forums/rx-...d-threads.html

As a rule, most people lose on extended warranties.

tron1975x

Thanks for the link. Most of the discussion is on extended warranties for the car, not the tire and wheel protection. I'm sure I could get the $1,595 down but I'm interested in knowing what others have paid. I appreciate it.

ravenuer

I think his point was that extended warranties on Lexus vehicles are generally not worth it. As far as tire & wheel warranties go, unless you're prone to hitting curbs and potholes, I can't see the worth of it. But of course there's always the "YMMV"!
If you do want it and your salesman said right up front that it's negotiable, why not really low-ball him and see where it goes?

mikemu30

Statistically, extended warranties have a cost of goods factor of 10% or less meaning 90% profit. Make your decision. I self insure always.

lesz

Whether it is an extended warranty or another add-on warranty, such as the wheel and tire protection, it will be an extremely high profit item for the dealership.

Over the years, I've developed relationships with guys who work with dealerships in the area and who do things like paintless dent repair, interior repairs, and wheel repairs, and, if I should need any of their services, I call them directly, and make arrangements to meet up with them at a dealership where they will be working or at their own shops. I've found that, by cutting out the middleman, I can have them do work for me very economically. For example, the paintless dent guy that I use will remove a single dent for as little as $20 and multiple dents for little more than that, and the interior repair and wheel repair guys have pricing that is similarly reasonable.

Even with a very large discount from the $1595 that the dealer of the OP is asking, the wheel and tire protection plan would still be a huge profit generator for the dealership, and if you went directly to the people who do the repair work, you would have to be doing a significant amount of damage to your car before building up costs that came close to what you would be paying for the protection plan.

When dealers sell customers any of these plans, they can sell the customer the car with a significant discount and still turn the deal into a large profit generator for the dealership.

mikemu30

I love when they dress up the room with busted up wheels and damaged tires and use that as reasons why you need to buy the protection.

tron1975x

This was very helpful, thank you. You helped make my decision (no). Much appreciated!

Usual

A new wheel is about $400 - I've driven maybe 500k on alloy wheels over the last 30 years and never damaged one.
I'm usually pretty happy to have a reason to get rid of the factory tires, but when I've had a flat repaired it was about $20.

mikemu30

Im with you. Never a wheel damaged and ONE flat that couldn't be patched in last many years. So my self insurance cost in that case was about $200.

GSFRX350

A big NO - I've driven 3 million km over 38 years, mostly alloy wheels, a couple of 3 part composite ones too, never wrecked one.

DaytonaV

what does the Tire & Wheel Protection - $1,595 actually cover? i believe it will cover wheel repair services, but will it actually cover a damaged beyond repair wheel? i've had wheel repair done before where the grind down the curb rash, sand blast, paint and clear coat ~ $200 depending on the damage and wheel type. unless this protection replaces the wheel, i would just pay as i need the services later.

mikemu30

It probably covers not much more than filling up a tire that's just low on air

ericsan13

Statistically, numbers on the internet lacking proper citation are 93% fraudulent, or 13% true.

ericsan13

FUD is a powerful and proven motivator.