zriceman

I just purchased my first lexus, 2015 es 350, and am happy to be part of the community. The car has 27k miles with 6 months of factory warranty remaining and 2 years of CPO warranty. I didn't do my research and got talked into purchasing a 3 yr/unlimited miles CPO VSA for $3700. I understand I can cancel the contract and recieve a full refund less $50 applicatino processing fee if done in writing within 30 days. However, will I be able to purchase another CPO VSA (for a better price of course) in the future before CPO warranty expires?

bc6152

A short answer here is this: Don't buy any additional extended warranty for your car and get your $3700.00 back as quick as you can... The salesman is smiling and rubbing his hands together...

lesz

Absolutely.

Extended warranties of any kind are among the items that can generate the highest profits for the dealership. Even when discounted significantly, they are still very high mark-up items.

While there is a (very small) chance that you could need covered repairs whose cost exceeds that of the extended warranty, the chances of that happening are small. Instead of buying an extended warranty, my suggestion would be to put the same money into a savings account specifically designated for car repairs. Over the course of ownership of 3 or 4 vehicles, you would be almost guaranteed to be thousands of dollars ahead.

Further, with your car, you still having some of the factory bumper-to-bumper warranty left and the CPO warranty (and a good portion of the factory power train warranty) left.

zriceman

appreciate your input