Extended car warranty advice
#1
2nd gear
Thread Starter
![Default](https://www.clublexus.com/forums/images/icons/icon1.gif)
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 happen.
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!
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 happen.
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!
Last edited by Mandolexus; 08-20-23 at 09:25 PM.
#2
![Default](https://www.clublexus.com/forums/images/icons/icon1.gif)
Since it's not through Lexus, I'd skip it.
It sounds like you've taken care of the car (taking it to get serviced frequently at the dealer, it sounds like). You drive about 16k miles a year? Mostly highway?
I would suggest looking around to see if anyone in your area recommends any other mechanics that work on Lexus as continuing to take the car to the dealer will be expensive. But honestly, I haven't heard of major things failing (as long as you're keeping an eye out for rust).
It sounds like you've taken care of the car (taking it to get serviced frequently at the dealer, it sounds like). You drive about 16k miles a year? Mostly highway?
I would suggest looking around to see if anyone in your area recommends any other mechanics that work on Lexus as continuing to take the car to the dealer will be expensive. But honestly, I haven't heard of major things failing (as long as you're keeping an eye out for rust).
The following users liked this post:
Mandolexus (08-21-23)
#3
Driver School Candidate
![Default](https://www.clublexus.com/forums/images/icons/icon1.gif)
At the risk of getting crucified for this,
I bought my GS with 112k on it and opted to purchase a 6yr/60,000 exclusionary warranty for it and it cost a little under 4k with a $200 deductible. I bought a warranty for my IS and I got my money's worth hence I decided to get one for my GS. Parts are expensive on these and Lexus dealership labor ain't cheap.
I bought my GS with 112k on it and opted to purchase a 6yr/60,000 exclusionary warranty for it and it cost a little under 4k with a $200 deductible. I bought a warranty for my IS and I got my money's worth hence I decided to get one for my GS. Parts are expensive on these and Lexus dealership labor ain't cheap.
The following 7 users liked this post by Jakerin:
93SCMax (08-23-23),
AJLex19 (08-22-23),
EAST (08-21-23),
greys0uled (08-22-23),
LatinLS430 (08-22-23),
and 2 others liked this post.
#5
Lexus Champion
iTrader: (1)
![Default](https://www.clublexus.com/forums/images/icons/icon1.gif)
Look up Assurant Extended service Platinum contract. I still have the coverage on my 13 GS350 Lux. I'm at about 49k miles now, and still covered till 150k or 03/26. They even cover fixing Door Dings.
They are mostly offered through Credit Unions. But I think you can purchase through your own, and/or other Dealers. The Platinum coverage I bought a few years ago was only $1900 with a $100 per visit deductible. They hold an A+ rating from the BBB with an average 4.7 out of 5.0 stars from customers. $6000 for only 60k miles and 60 months is highway robbery. I got mine due to the Servo issues and other, like the engine Vac pump, plus the Steering Rack problems the GS could have. Plus if I sell my car it's transferable to the new owners for just a one time $50 fee.
They are mostly offered through Credit Unions. But I think you can purchase through your own, and/or other Dealers. The Platinum coverage I bought a few years ago was only $1900 with a $100 per visit deductible. They hold an A+ rating from the BBB with an average 4.7 out of 5.0 stars from customers. $6000 for only 60k miles and 60 months is highway robbery. I got mine due to the Servo issues and other, like the engine Vac pump, plus the Steering Rack problems the GS could have. Plus if I sell my car it's transferable to the new owners for just a one time $50 fee.
#6
![Default](https://www.clublexus.com/forums/images/icons/icon1.gif)
We have Assurant for our GE electric stove up and they do cover that pretty well but they outsource the repairs.
The following users liked this post:
jgscott (08-24-23)
#8
![Default](https://www.clublexus.com/forums/images/icons/icon1.gif)
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 happen.
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!
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 happen.
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!
This place also has one but maybe cheaper. I watch their channel also.
https://caredge.com/extended-warranty
#9
Intermediate
![Default](https://www.clublexus.com/forums/images/icons/icon1.gif)
Seriously though, extended warranties have their place. It all rests on their costs and individual preference as to risk mitigation and budgeting. It's no different to any other kind of insurance, in that no-one wants to have to pay it, but no one wants to need it and not have it. Some will gain from it, some won't, but no one knows in advance which category they'll fall into.
Personally I have an extended warranty, but my car is 13 years old and over 100k, and the warranty is available up to 15 years and 150k. It's provided directly by Lexus (in the UK) and includes breakdown cover, and so I think it's worth it for a car of that age and mileage.
#10
Lexus Champion
iTrader: (1)
![Default](https://www.clublexus.com/forums/images/icons/icon1.gif)
You take out a loan and use the money for the repayments.
Seriously though, extended warranties have their place. It all rests on their costs and individual preference as to risk mitigation and budgeting. It's no different to any other kind of insurance, in that no-one wants to have to pay it, but no one wants to need it and not have it. Some will gain from it, some won't, but no one knows in advance which category they'll fall into.
Personally I have an extended warranty, but my car is 13 years old and over 100k, and the warranty is available up to 15 years and 150k. It's provided directly by Lexus (in the UK) and includes breakdown cover, and so I think it's worth it for a car of that age and mileage.
Seriously though, extended warranties have their place. It all rests on their costs and individual preference as to risk mitigation and budgeting. It's no different to any other kind of insurance, in that no-one wants to have to pay it, but no one wants to need it and not have it. Some will gain from it, some won't, but no one knows in advance which category they'll fall into.
Personally I have an extended warranty, but my car is 13 years old and over 100k, and the warranty is available up to 15 years and 150k. It's provided directly by Lexus (in the UK) and includes breakdown cover, and so I think it's worth it for a car of that age and mileage.
![Smilie](https://www.clublexus.com/forums/images/smilies/smile.gif)
#11
Instructor
![Default](https://www.clublexus.com/forums/images/icons/icon1.gif)
Way cheaper? What about the loss of 6K when the car doesn’t need any major repairs? The last three cars I’ve had went over 100K with needing anything more than brakes or an alternator and battery. One needed a fuel pump. 6K in the bank at least wouldn’t be lost. How about using a credit card for the anticipated emergency? No need for an out and out personal loan.
#12
Lexus Champion
iTrader: (1)
![Default](https://www.clublexus.com/forums/images/icons/icon1.gif)
Way cheaper? What about the loss of 6K when the car doesn’t need any major repairs? The last three cars I’ve had went over 100K with needing anything more than brakes or an alternator and battery. One needed a fuel pump. 6K in the bank at least wouldn’t be lost. How about using a credit card for the anticipated emergency? No need for an out and out personal loan.
![Smilie](https://www.clublexus.com/forums/images/smilies/smile.gif)
On just this 4th Gen GS CL 1st page alone there are, alternator failures, servo a/c - heat, struts, water pump, Infotainment audio, electrical drain. The fuel pump for the GS350 Lexus part alone is $440 at a discount not including labor.
#13
Intermediate
![Default](https://www.clublexus.com/forums/images/icons/icon1.gif)
As for way cheaper, that all depends. In a couple of years time you could be several thousand up if you get any major faults, or $1900 down if you get no problems. For some, me included, the fixed cost of the warranty is worth the peace of mind against the possible unknown cost of any expensive faults.
Ultimately, those against extended warranties are betting on either no major faults occuring, or any that do occur amount to less than or equal to the warranty cost. Whilst those in favour are hoping to mitigate any possible repair bills that are substantially larger than the warranty cost. Either way it's a gamble, and each person does their own risk assessment and makes their choice.
The following users liked this post:
jgscott (08-24-23)
#15
Lexus Champion
iTrader: (1)
![Default](https://www.clublexus.com/forums/images/icons/icon1.gif)
I don't disagree with you on the benefits of an extended warranty, I have one myself. I'm just saying that it's a matter of personal preference towards risk management.
As for way cheaper, that all depends. In a couple of years time you could be several thousand up if you get any major faults, or $1900 down if you get no problems. For some, me included, the fixed cost of the warranty is worth the peace of mind against the possible unknown cost of any expensive faults.
Ultimately, those against extended warranties are betting on either no major faults occuring, or any that do occur amount to less than or equal to the warranty cost. Whilst those in favour are hoping to mitigate any possible repair bills that are substantially larger than the warranty cost. Either way it's a gamble, and each person does their own risk assessment and makes their choice.
As for way cheaper, that all depends. In a couple of years time you could be several thousand up if you get any major faults, or $1900 down if you get no problems. For some, me included, the fixed cost of the warranty is worth the peace of mind against the possible unknown cost of any expensive faults.
Ultimately, those against extended warranties are betting on either no major faults occuring, or any that do occur amount to less than or equal to the warranty cost. Whilst those in favour are hoping to mitigate any possible repair bills that are substantially larger than the warranty cost. Either way it's a gamble, and each person does their own risk assessment and makes their choice.
One of the main factors for myself getting the Extended service contract was how long I may keep my GS, and repair cost. Also keep in mind that if you sell your GS private party most Ext contracts are transferable as a extra value and selling point to the new owner for a ex. $50 transfer fee. That's a good thing if you sell your GS, to me. The a/c - heat Servo was what mostly made me get the contract for my Lexus. It's a well known problem with them at $3k - $4K cost. I do not want no a/c, or heat coming out in the hot summer, or a/c cold air coming out in the winter or $3k plus to fix. I just had a Starter go out and a power pass side mirror stop working. I paid $100 for a dealer factory parts fix and was given a free rental to drive.
The rebuttal I have is - no it's not like a German car with possible $7k engine repairs, and future $3k - $9k problems on going, but just look at the 1st page here again. My rebuttal was putting away the money per month? 3 months of money but a 12 month money repair, then what about the next one? Use a cc to pay, then what about the next problem? It's your choice yes. My choice and opinion, vs the take a chance, is fine. There is no crystal ball guarantee, is what I was responding to, and the put away the money numbers are not going to insure anything as a for sure bet. Saying nothing will go wrong because it's a Lexus is a lol! "Narrative". I'm giving the Pro's in a opinion is all, which I can do.