calvin2376

iTrader: (2)

Exactly, good point. This is the inherent problem with inclusionary warranties. Every car is different and has both different features and different parts. No inclusionary policy can be written to cover everything on every car, and anytime there's a question or discrepancy, you can bet it won't be covered.

This isn't advice NOT to ever buy an inclusionary warranty, don't get me wrong; just know what you're getting and understand the inherent limitations of an inclusionary warranty. I also didn't see intake camshaft gear assembly on the PDF above, for example, which is a problem since most every 2IS encounters the cam gear TSIB issue at some point.

huch

Very true! But the plan I was referring to was the Ultimate and Ultimate Wrap which are exclusionary plans... the ones below that are inclusionary. The items you may have been looking at were "extra covered parts" that were covered under the Ultimate and Ultimate Wrap plan.

Even then, their exclusionary plan isn't very comforting since the list of exclusions contains certain items which should be covered under a good plan. The issue with the door handles you had was on your inclusionary plan, yet if the OP took their highest exclusionary plan, he would still get screwed with the door handles issue - which is pretty sad given that exclusionary plans are more comprehensive than inclusionary. Their inclusionary plans are not even worth looking at unless you're looking for targeted coverage.

robertrios

iTrader: (11)

I had to get aftermarket for my sc430 so far it was worth it they replaced the rear trunk struts and my nab antenna crapped out. For my is250 I'll be buying from Jerry in july.

Bigrahizzl

iTrader: (8)

not as reliable as Lexus Extended warranty

huch

In what way? Genuine curiosity here.

threevoIS

It doesnt cover nearly as much and typically doesn't cover known problems with certain vehicles. Its either one of these or nothing for a lot of people, so you figure if that part breaks with out without the warranty you are going to be paying for it. But if one of the many things it covers breaks you will definitely get your moneys worth

MamadIS

man this is so hard, i cant decide . let me ask this, guys with high mileage, what kind of problems did you have? i am a kinda of guy who searches for parts online to get a good deal and diy most of the time. thats what i did with my 2002 bmw 330ci for the past two years and probably spend less than 800 in 2 yrs. i rather save that money and spend on mods but at the same time i don't want problems. hmm i need to do more research. thanks for the input guys, keep them coming

soulsoarer

iTrader: (2)

Yea, I'm in the same boat and my 50k is almost up.

Kurtz

iTrader: (1)

Probably three of the more common things I see people posting about after owning the car 4-5 years that are "OMFG, they want HOW MUCH to fix that?" issues are:

touchscreen (for those with nav) not responding anymore- $2500 repair at dealer.

Needles in dash are going out- $1000-1200 repair at dealer.

ML sub blown out- $600-800 repair at dealer.


There's some cheaper options than the dealer of course (LED guy for the needles for example if you're ok taking your dash apart and putting it back together... junkyard nav hoping it works for the screen, etc).

But the warranty is pretty cheap insurance against this stuff... and when you consider that it transfers to the next owner and I plan to sell my car at year 7 of the 8 year warranty, it's gonna pretty much pay for itself in higher resale even if I never use it.

MamadIS

yeah one of the main reasons i am considering this is the resale value when there is still warranty left on the car. the problem is i drove 50000 km on my BMW in 2 years so if i drive this car the same I'll be out of warranty by the time i am selling it . who knows i might enjoy this car so much that i keep it more than than. I called lexus to see if i can get the comprehensive warranty but no luck. they are offering me powertrain warranty for $2400 but i rather get this warranty cause it covers more parts for 2k. though decision

sktn77a

iTrader: (2)

+1. Most aftermarket warranty companies go-belly up before the first year is up! Moreover, they nickle and dime you and deny warranty coverage for all kinds of lame reasons. A factory (Lexus/Toyota, in this case) warranty is the ONLY way to go.

istarzan

iTrader: (8)

What if your car is out of warranty already and thus, can't renew. What's the best aftermarket warranty?

calvin2376

iTrader: (2)

Alright this is one of the most hyperbolic and demonstrably false statements I've ever seen on CL, and it's shameful you'd post something like this considering it could lead people not to buy a warranty that might otherwise greatly benefit them.

This is simply not true. A quick Google search will return myriad third-party auto warranty companies that have been in business for years and have A+ ratings from the BBB. My last car had an aftermarket warranty with Interstate National Dealer Services (INDS), which had been in business for years and continues to operate today.

Contracting with any company entails risk, as any company can go bankrupt at any time. This is true not only of auto warranty companies but insurance companies, banks, etc. Surely you wouldn't advise someone not to insure themselves or use a bank because there's a risk they'll go under. You might argue that auto warranty companies are inherently riskier or are more likely to go bankrupt than the aforementioned institutions. Even if I assume for the moment that's true, you can very easily mitigate or avoid the risk by

1) Checking how long the company's been in operation - clearly I don't recommend buying a warranty from "Joe's Warranties" that just started up last week

2) Checking their rating with the BBB and complaint history, if any - you can be assured that if a company didn't honor their claims or treated their customers poorly, their BBB rating would suffer

3) Checking who underwrites the claims - aftermarket warranty companies have their claims/contracts underwritten by larger institutions, and you can easily find out on their websites which institutions underwrite (or insure) the contracts of a particular warranty company. Using my above example, Interstate National Dealer Services (INDS) has been in business since 1980, and their contracts are underwritten by Virginia Surety Company, which has been in business since 1927 and is a giant insurer with accordingly significant backing assets

4) Simply Google the company - just don't be stupid. Don't buy a warranty from a one-page website written in Comic Sans. Do your research. For example, I Googled INDS and found that they were the administrator for the Hyundai Assurance Program. So Hyundai, quite a reliable and reputable company, chose INDS to administer their entire Assurance Buyback Program.

They can't "nickle and dime you". To nickle and dime would be to continually extract as much money as possible from you. With an aftermarket warranty, you disburse cash to the company once - at the beginning, for the contract. After that, you don't pay the company anymore (or shouldn't). Your interaction with the company from that point on is based on claims.

I assume what you mean is that they nitpick over claims and deny coverage in certain instances. That can definitely be true. However, this is the ultimate embodiment of caveat emptor. You sign a contract with the warranty company. That contract lists exactly what's covered and what's isn't. You know what else is in that contract you signed? A big bold clause that says "In the case of a dispute over coverage over a claim, the warranty company has authority". You may not like it, but that's the contract you signed, and shame on you if you don't read it closely enough.

You mitigate this risk easily, by reading the contract ahead of time and choosing a warranty that covers exactly what you want it to. These contracts are very simple: if it's inclusionary, if the part is listed, it's covered, so if it fails, it's covered. If a part fails that isn't on that list, it's not covered. You know that going in. Or you can avoid this risk entirely by buying an exclusionary policy.

Warranty companies will not just blindly and out of nowhere deny a claim, just for fun or cruelty; they'll deny claims based on the text of the contract you signed.

This is exactly why aftermarket warranties are important; many people can't buy OEM extended warranties, maybe because they're out of the warranty period. I certainly agree that the ideal scenario is buying a Lexus Platinum VSA warranty. But if you're out of factory warranty, that's not an option.

I can tell you that having an aftermarket warranty, even if it's inclusionary and doesn't cover every single item, in most cases is better than not having any warranty at all. With my E55, which had a warranty with INDS, some of my claims weren't covered because the parts weren't listed in the contract as covered, but most of mine were, because the policy was fairly comprehensive. I can tell you that while I still had to pay out of pocket for claims that weren't covered, the warranty still saved me around $6,000-7,000. And it was purchased for $900.

So don't believe this blind and hyperbolic negativity toward aftermarket warranties. Of course a Lexus warranty is better than an aftermarket warranty. But often they're not an option, or they're too expensive. In those cases, an aftermarket warranty can be a very good solution.