Mandolexus

As the the title says, I’m looking for any advice on purchasing an extended car warranty on my 2015 GS 350 F Sport.

I purchased this car back in August 2020 with about 58,000 miles. The car also came with a 4 year 50k warranty from Lexus (Lexus Platinum Care) for around 3k to 3.5k (can’t remember the exact amount). Since I bought this car, I was to able fix multiple things under the warranty. Aside from replacing a wheel bearing and engine mount, and replacing some electronics, nothing major has happened.

My car is currently at 96k and has a year or about 12k left on my current warranty with Lexus. The Lexus dealership (owned by Autonation) has reached out to me about purchasing another extended warranty before my current one ends. The thing is that it will not be with Lexus but with Veritas Global Protection and is quoted for $6,000 for 60,000 miles for 60 months. The advisor from Lexus mention that it will be the top tier plan they have and will have a $100 deductible for any approved repairs. The monthly payment is $189 a month for only the first 30 months of the term.

I know that Lexus cars are known for its reliability but my GS is hitting 100k miles. Should I purchase the third party extended warranty? Or should roll the dice and pay for the repairs as they come?

The dealership is saying that I need to make a decision on this week but I don’t want to make any rushed decision and not sure if they are just trying to pressure me into buying one sooner than later.

Any advice would be appreciated!

LeX2K

If you really think your car will need $6,000 in repairs to drive 60,000 miles if it was me I would not keep the car. That's BMW territory. Just my opinion.

Jakerin

Put 6K in the bank earmarked for car repairs if needed. Or, put $189 in the bank every month.

Fizzboy7

Definitely not. Not going to pan out for you in the longrun. Those are money grabbers designed to make profit, and that's about as high as I've ever heard. Skip.

BillUK

Sounds like the dealer is trying to pressure you, as I can see no reason why you should have to decide this week about a warranty that's a year away. That alone would put me off. If it was half that amount, and the warranty provider had a good track record on payouts, then I'd consider it on a 10 year old/100k miles car, but at £6k I'd keep the money and take my chances.

TriC

There is no way in hell that you should buy that warranty!

timmy0tool

iTrader: (7)

hard pass, for reasons already stated.

geko29

Agree with this. My current HYSA is paying 4.8%, there are some even higher. After 5 years, that $6k would become about $7625. I would not expect to put that much money into a GS in the types of repairs that might be covered by an extended warranty.

SW17LS

No way, I agree with everybody else

Striker223

That's massively overpriced considering how unlikely issues with the GS are, no point in buying that.