dkaplan435

I received an email from Woodfield Lexus yesterday offering me the following:

This is a one-time opportunity brought to you by Woodfield Lexus and Lexus Extra Care (Lexus Financial Services). Extend the basic warranty on your Lexus to 6 years or 70,000 miles, whichever comes first, for only $1,495.00!

The Lexus Extra Care Platinum Plan benefit includes Towing, Substitute Transportation, Travel Protection and is transferable and cancelable with No Deductibles Ever! Woodfield Lexus will include a Free Oil Change with the purchase of this extended warranty.

I'm not sure if that's a good deal or not. Regardless, I'd need the 100,000 mile warranty.

Have any of you purchased the above warranty (or the 100k mile) one for an IS-F from a local dealer?

If so, can you post what you paid, or PM that info to me? I'd like to make sure I'm getting a great deal, otherwise I'm better off waiting a couple or three years.

thx!

VikH

iTrader: (5)

Dave,
That is a good price for the IS-F, but I would assume that was a generic email, so your quote would be higher. Here are the MSRPs for IS-F Lexus Platinum Program straight from Lexus.com:

$0 deductible / $50 deductible

6 years/70,000 miles: $1,850 / $1,800
7 years/75,000 miles: $2,400 / $2,350
5 years/100,000 miles: $2,200 / $2,150
6 years/100,000 miles: $2,450 / $2,400
7 years/100,000 miles: $2,900 / $2,850

http://www.lexus.com/models/ISF/warr...rogram_pricing

Brian231

Dave,

If you plan to keep the car for a long time, go for the 7 years/100,000 miles: $2,900, otherwise, these warranties are such a profit for Toyota/Lexus as the vast majority of the time, they are rarely utilized.

dkaplan435

hi Brian & Vik,

I just asked for their best price on a 7yr/100k warranty.

I'll let you know what they come back with!

Dave

Luder94

You also want to take in consideration your plan for the car. If you plan to modify it, then I say skip the extended warranties.

They aren't warranties by any means, think of them as prepaid repair service contracts. There are parameters you have to operate and maintain the car by to fulfill your end of the contract.

With the majority of contracts, there's some stipulation that if your car is modified, the contract will be nullified; regardless of the modification (ie. if you develop suspension issues, you may be denied service due to an aftermarket intake. In short, the Magnuson-Moss Warranty Act does not apply to aftermarket warranties.

passnu2

iTrader: (33)

I say waste of money!

VikH

iTrader: (5)

You're a waste of money

passnu2

iTrader: (33)

I'm going to have to report you to a mod and JZ.

Brian231

Your both right!!!!!

Mr Johnson

I think I'll stick with my usual answer "waste of money" but for a unique reason. Given that we have some very expensive pieces inside the the 8-speed and engine that would be a drag to repair I would under normal circumstances consider the warranty. OTOH my previous Lexus has been amazingly solid over the last 7 1/2 years. Since I consider this an insurance policy you need to ask yourself if you are willing to put the money away now and invest it what will it be worth once the standard warranty expires? Here's the rub, with the market the way it is now (down low) investing in something reasonable can pay off very handsomely in the 4 years you have left and could pay for potentially most repairs.

My way of thinking... FWIW.

passnu2

iTrader: (33)

why are you guys picking on me

dkaplan435

I'll wait. The discount I was offered on the 7/100 warranty was about 10%. I can get that any time. I'll wait and see how the car is doing in a couple of years and then decide :-)

Thanks for all your feedback.

LEXUS_KID

iTrader: (4)

Smart man

Brian231

I like stuff!!!

Dave, my reasoning is this, if the car acts up in 4 years, dump it. I doubt it will, but save your money on warranties.

dkaplan435

Great point!