vskaplan

We plan on buying after lease is up in a few weeks. The millage is under the allotted amount and the car is in great condition. The question is should we buy the 4 year extended warrantee from the dealer? Thanks for your help!

bitkahuna

iTrader: (20)

Depends on the vehicle, how long you intend to keep it, and how you will use it.
if it's a mint toyota camry with 20k mi. on it like i had recently, then i wouldn't bother with a 4yr warranty!

vskaplan

I hope to keep it for 4-5 years more.. I have had it for 39 months so far.. It's a 2018 Lexus in very good condition with 20K miles as well.

bitkahuna

iTrader: (20)

How much would the 4 yr warranty be? If you've only driven it 20k in over 3 years, and if go forward mileage won't be significantly more, then i certainly wouldn't bother with the warranty.

vskaplan

I was told $2,500-$3,000.for warranty. We hardly used during pandemic. Usually use about 1,000K a month. although we might drive from NY to Florida at some point. I assume you think I should not bother with warranty under these circumstances. TY

UDel

What Lexus? I would say no unless it is the hybrid LS or to a lesser extent a AWD LS460 with air suspension.

swajames

One thing. You don’t necessarily need to buy the warranty from your usual dealer. You can often shop around and buy the warranty from a different dealer. There’s usually a lot of margin on these products, and you will often find dealers in other locations/states who will sell you the exact same manufacturer extended warranty at a substantial discount. I’ve done this myself a few times.

vskaplan

Won't they treat you differently at the dealer you bring the car to for service/repairs if you buy the warranty at a different dealer? Thank you all for your advice.

patgilm

From my experience, they won’t treat you any different at the dealer.

Another thing to consider is if you had a 3 year lease you still have another year before the factory warranty is up so why not wait until right before the original factory warranty is up before you buy the extended warranty? Note that if you want a Lexus factory extended warranty you must buy it before the original factory warranty is up. Because of that, whenever I bought my extended warranties, I waited until the month before my original factory warranty was up before I bought mine because the extended doesn’t kick in until the original warranty is up so why pay the money now?

jer

As stated above, if you purchase your lease sit tight until you are within a month or 2 of the original warranty expiring. If it is for peace of mind, then you can shop around to see who has the best price for an extended Lexus warranty. Personally, I'm on my 3rd Lexus and have not had the need for an extended warranty, and my 3rd is now 7 yrs old with no issues-knock on wood!

Wilson2000

Generally, extended warranties are a waste of money on Toyota and Lexus vehicles. They are expensive and deductibles are high. Too, they are typically not bumper-to-bumper. Then there is the issue of providing proof that you didn't miss any of the recommended services. If you did, your repair may not be covered. Some warranties may not allow for the use of OEM parts, which in itself, is a deal breaker for me.

The reason I buy Toyota and Lexus is because they are so reliable. Their low cost of ownership is in part due to the fact that one doesn't need to purchase an extended warranty. Too, I don't like the whole concept of warranties...they allow for repairs for years past the factory warranty, but not for when one really needs them at 10+ years!

Toys4RJill

Completely agree. Toyota and Lexus are very reliable. No need for an extended warranty. I can however see how some first time Toyota or Lexus might be worried

Fizzboy7

Completely avoid. There is no need for any warranty with the vehicle you listed. They are bulletproof and have been for a long time. Save your money and move on.

swajames

Our only vehicle which ever left us stranded was a Lexus. Average reliability is all well and good until it’s your specific car which is stuck stranded on the side of the road. If you can get peace of mind at half off what you are being quoted it is probably worth it. And make no mistake, there is a ton of dealer mark up on these products. In other cases I’ve personally saved around 50% from retail. Shop around. You can get peace of mind at a big discount.

vskaplan

Have you saved 50% at a dealer or a third party? Again, thanks everyone for your help.