Extended Warranty? Yes or No
09-21-20, 08:45 AM
#16
Lexus Fanatic
Those that have it will advocate.
I had it on my BMW and had a headlight draw moisture. Did not cover it. Why? Said “They don’t cover adhesives”. I said you can’t manufacture a headlight assembly without it! $2500. Dealer price was $500 less than independent. There were 5 different serial numbers for my model. finding a used one was impossible. when a year later the second started I did a temporary fix and sold the car to BMW.
I researched the GS to be of great Toyota reliable and not think.
You don’t have to think of a warranty as insurance because thats exactly what it is.
Take the extra money and put it aside as a “fix it fund”.
If you can’t afford to fix the car and build the warranty into the payments then thats what you gotta do, then do that. Not everyone has the same outlook on financial vs emotional vs actuarial realities.
Wife and I for years would use small windfalls and make extra payments on Mortgage. Small stuff, like reducing payment on cable, up the mortgage. We also would do things like buy a new car and put 2k in a “fix it fund”. When the warranty would have run out we’d dump that into the mortgage. I’m in my late 50’s now and no house payment.
Warranties are a way to sleep at night when you buy a car you can’t really afford.
I only buy them on kitchen appliances because they all suck. $200 a year for my Electrolux fridge, dishwasher, oven, stove top and microwave. All had issues in first 6 years. Got to know the guys well! Ask, “Who makes the appliances with the least repair”? They say nobody. The higher end stuff is even worse!!!!
I had it on my BMW and had a headlight draw moisture. Did not cover it. Why? Said “They don’t cover adhesives”. I said you can’t manufacture a headlight assembly without it! $2500. Dealer price was $500 less than independent. There were 5 different serial numbers for my model. finding a used one was impossible. when a year later the second started I did a temporary fix and sold the car to BMW.
I researched the GS to be of great Toyota reliable and not think.
You don’t have to think of a warranty as insurance because thats exactly what it is.
Take the extra money and put it aside as a “fix it fund”.
If you can’t afford to fix the car and build the warranty into the payments then thats what you gotta do, then do that. Not everyone has the same outlook on financial vs emotional vs actuarial realities.
Wife and I for years would use small windfalls and make extra payments on Mortgage. Small stuff, like reducing payment on cable, up the mortgage. We also would do things like buy a new car and put 2k in a “fix it fund”. When the warranty would have run out we’d dump that into the mortgage. I’m in my late 50’s now and no house payment.
Warranties are a way to sleep at night when you buy a car you can’t really afford.
I only buy them on kitchen appliances because they all suck. $200 a year for my Electrolux fridge, dishwasher, oven, stove top and microwave. All had issues in first 6 years. Got to know the guys well! Ask, “Who makes the appliances with the least repair”? They say nobody. The higher end stuff is even worse!!!!
The only Lexus that a warranty would make sense is a LS460 because they have some expensive trouble spots and are the least reliable Lexus vehicle but even then it would only be worth it on one with air suspension/AWD or especially with the hybrid which is likely going to be a money pit on the higher mileage ones.
Many people including me have had the same experience with kitchen appliances, none are particularly reliable or at least compared to the past, most of the money put into them over the past 15 of so years went into efficiency/meeting energy/usage standards and not reliability. A home warranty service has come in handy because of all the problems/failures. When you ask around what to get, most say get the cheapest you can buy while still being a mainstream brand with the longest standard warranty, GE's tend to fit that bill, the higher end models and ones from high priced brands tend to fail the most. I know a couple people with Wolfe stoves that have had big issues in under ten years and they are mad they spent so much on something they thought would last. My parents GE fridge won't die, its over 20 years old, it is ugly, a few drawers/trays have broke but it won't die so it doesn't get replaced with something that probably won't last 5-10 years.
09-21-20, 02:49 PM
#17
Driver School Candidate
I have owned a few German cars and never risked driving them outside of a warranty for long. Once had an LS430 and after about 250,000 miles I sold it and never had an issue with it, and it ran as good as new when I sold it. my current GS 350 is CPO, to me the benefit was the time and money they put into it before putting it up for sale. I wouldn't buy an extended warranty on a Lexus. It is always a good idea to have a few thousand dollars set aside for unexpected auto repairs, just in case-that would be my focus.
09-22-20, 04:38 AM
#18
I'm at a point now, where I'm thinking about exttending my warranty. On 9/30 (a week from tomorrow) mine CPO status will expire. Purchsed car in Oct. '17 w/20k miles. I just crossed 104k the other day, and with my luck, something will go wrong at 12:01am on 10/1. I've considered trading my car in, but haven't seen another GS locally with the options I'd like to have. I'm also been looking at a '19 Genesis G70, aroubd the same price poiunt as an '18 GS. A week to go, I have a lot to think about, especially since with my mileage, I'm slightly underwater for trade in.
Last edited by Cobra611; 09-22-20 at 05:59 AM.
09-22-20, 02:54 PM
#19
I work on the corporate side of an auto group that has 2 Lexus dealerships and was quoted $2650 for the 8yr/100k L warranty with 0 deductible. My car turns 4 years old this mid-December so I have a bit of time to think about it.
09-22-20, 05:24 PM
#20
I didn't buy any warranty for my new car. I don't think it's a good idea to buy extended warranty on a reliable car. Then again, I wouldn't have purchased the vehicle if it wasn't reliable in the first place. I don't abuse my vehicles and take good care of them.
Although no vehicle is perfect, repairs will happen (there is always some risk with machines). IMO, most expected problems are wear and tear and that isn't covered so why spend the money and find out later it's not covered.
I did buy extra protection before on one of the vehicles with paint sealer/windshield replacement, you know what? Once I used the paint sealer portion, they wouldn't even refund that windshield part back when I sold the vehicle (bad accident). That was $790 loss, money is money.
I thought about maintenance one when I purchased the 2020 GS but it's better to have the money in back of my pocket.
Although no vehicle is perfect, repairs will happen (there is always some risk with machines). IMO, most expected problems are wear and tear and that isn't covered so why spend the money and find out later it's not covered.
I did buy extra protection before on one of the vehicles with paint sealer/windshield replacement, you know what? Once I used the paint sealer portion, they wouldn't even refund that windshield part back when I sold the vehicle (bad accident). That was $790 loss, money is money.
I thought about maintenance one when I purchased the 2020 GS but it's better to have the money in back of my pocket.
Last edited by websurfer; 09-24-20 at 10:17 PM.
09-23-20, 09:39 AM
#21
No brained for me, totally worth it for me.
Totally worth it for me. I have 2013 GS AWD Luxury model. Bought in 2016 with 30k. Was CPO with warranty to 100K. Dealer offered 2 additional years with unlimited miles for $2000. I drive a lot. Currently 135K. I had to have stereo replaced. That stereo costs $1600 new, and a good refurbished one is $700. Dealer fixed for free with no hassle. Yesterday my cruise control stick broke just as I was hitting cancel. This was very bizarre. I know this was expensive but it’s the little things that can be an issue. Recently the parking sonar started acting up. I have appt with dealer tomorrow. I keep all my cars a long time and typically don’t buy warranty with Toyota products but I know these luxury cars can be expensive to repair.
09-24-20, 07:14 AM
#22
Driver School Candidate
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Lexus Extended Warranty
My wife drives a 2008 GS350 that now has about 35000 miles on it. I agree the Lexus GS350 is a very reliable vehicle but we bought a Lexus extended warranty from a local Toyota dealer anyway. One repair surprise was that the Tire Pressure Monitoring System (TPMS) sending units in two wheels broke at about the same time. We took the car to that Toyota dealer because the Lexus dealer couldn't get to us for more than a week. Not only were both TPMS sending unit replaced at over $200 each covered by the warranty but the warranty also covered the replacement of the other two that were weak(?). We have had a few other smaller issues that this warranty covered.
I don't worry too much about the drivetrain breaking these days. I worked for a tier 1 automotive provider for many years providing telematics equipment to some major auto manufacturers (not Toyota). I know that electronic devices can surprise you and break at any time no matter what maintenance you do to your car. I also know the expense of replacing these electronic pieces. Since the electronic content of cars is only going to increase, I will always buy an extended warranty.
I don't worry too much about the drivetrain breaking these days. I worked for a tier 1 automotive provider for many years providing telematics equipment to some major auto manufacturers (not Toyota). I know that electronic devices can surprise you and break at any time no matter what maintenance you do to your car. I also know the expense of replacing these electronic pieces. Since the electronic content of cars is only going to increase, I will always buy an extended warranty.
09-24-20, 06:23 PM
#23
Instructor
I've never bought an extended warranty on a car You'd be better off putting the money in a savings account for future use. With a $100 deductible, you will still be out for any repairs. It is a cash cow for the salesman/dealership.
As reliable as these cars are, I doubly wouldn't buy one.
I'm so anti-extended warranty that when my wife bought a used Honda HR-V, they said it was certified. I told them I didn't want it certified if it added to the cost. You know what? They knocked several hundred dollars off of it. It was only going to add a year to the existing factory warranty. It passed the 4 year mark and has had nothing but oil changes, filters (cabin, engine and oil) and tire rotations.
As reliable as these cars are, I doubly wouldn't buy one.
I'm so anti-extended warranty that when my wife bought a used Honda HR-V, they said it was certified. I told them I didn't want it certified if it added to the cost. You know what? They knocked several hundred dollars off of it. It was only going to add a year to the existing factory warranty. It passed the 4 year mark and has had nothing but oil changes, filters (cabin, engine and oil) and tire rotations.
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