Extended warranty
#32
Lead Lap
While auto repairs can be expensive, modern cars are more dependable than they ever have been. If I think about all of the cars that I've bought in the last 25 years, the total of what I've paid for non-warranty covered repairs on all of those vehicles has been less than what it would have cost me to buy one extended warranty, and the total of non-warranty covered repairs that I've had to make on my 6 Lexus and Toyota vehicles has been less than $500. Yet, had I bought extended warranties on all of the vehicles that I've owned in the last 25 years, I would have spent about what it would have cost me to buy a new modestly equipped Toyota Camry.
I know that trying to tell someone who has been buying extended warranties is like trying to tell someone that he/she has believed in the wrong god for his/her whole life. The emotional component that comes into play when someone has spent lots of money on something does not allow him/her to even consider the possibility that a case might be made for not having spent that money. At the same time, I would like to think that there is some value for others to see that a reasonable case can be made for spending one's money on something other than an extended warranty.
#33
Lesz, lets revisit this issue on this forum in 7 years and see how we both made out. I truly hope we and others who chose to keep their vehicles for 8 years had no repairs whatsoever and that you saved $1400 and I lost $1400 as all of us will be extremely happy!
Last edited by ElliotB; 11-18-13 at 06:01 PM.
#34
Driver School Candidate
Join Date: Jan 2014
Location: OH
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I agree with LESZ. I equate extended warranty to the casino offering insurance playing Blackjack. If you take it - it makes you feel good knowing you are "protected" but the fact is over time, you make more money not taking it. A casino will not offer you something unless they are sure they are going to make money on it. Same for extended warranties - over time they make money for the seller - otherwise they would stop offering them at the price that they are.
#35
Lexus Champion
Peace of mind can be priceless to some. Otherwise, it could be a roll of the dice, given these cars are like rolling computers, with complicated mechanical and electrical systems. Lexus is a more reliable brand and cost less to repair than most other lux brands.
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dug320
RX - 3rd Gen (2010-2015)
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05-20-13 07:22 PM
100000, 2014, add, es300h, es350, extended, extendedwarranty, lexus, mile, negotiable, prices, waranty, warranties, warranty, year