Bob GX

My 04 GX is almost to the end of the 4 year factory warranty, so it was decision time....

On the upside - I really like the car! Quiet ride, features that I like, makes me feel better on the way to work.

The down side - it has depreciated a fair amount (like all big SUVs right now, I suppose), doesn't get great gas mileage (but not bad considering the size & weight), gas is getting too expensive, and tho' I've had no serious problems, there is a risk with any luxury car of expensive repairs at some point, due to the high tech components, not many places to get service, etc.

I don't drive a whole lot of miles each year, so the cost of gas and so-so mpg is not a big cost driver for me. But, the prospect of an expensive repair bothers me. So, I decided for an extended warranty - went out another 7 years, for about 82 cents a day. I figure it may be at least that long before good alternative fuel vehciles appear, especially in Lexus vehciles (the RX hybrid seemed to opt for more performance than for better fuel economy).

I'm comfortable with the extra expense of the extended warranty to lessen the worry of repairs.

Just thought I'd share this point of view - a different approach than 'downsizing' now, when there's not so very much in the way of good alternatives. In the meantime, I am hoping alternative fuel cars show up sooner than later - the extended warranty can be pro-rated if I change my mind and want a different car before the 7 years are up.

RXGS

iTrader: (2)

thinking the same thing about our lx, instead iof a whole new car payment, justpay forgas

The G Man

82 cents a day, did you get a 7 year warranty for $900?

Bob GX

Let's double check my figures, so I don't give misleading info....

The extended warranty was about $2100 for 7 more years (so 11 years total, with the original 4 year factory warranty)

$2100 / 7 years = $300/year

$300 / 365 days/year = 82 cents per day (about)

This is the first extended warranty I have done - the risk of trouble is probably low, but worrying about some of the expensive repairs people write about kind of takes away some of the joy of ownership!

stoked

iTrader: (1)

The warranty hopefully will pay itself off. We have an 04 GX and also an 06 GX and the 04 has 65k miles. No repairs to speak of and we just replaced our brakes for the first time at Larry Miller Lexus. The GX is a great SUV and we can always squeeze almost 20 mpg up in this higher altitude.

The G Man

Bob GX, I dont think the extended warranty works that way, you can double check with your seller, hope I am wrong. As far as I know, If you buy a 7 year extended warranty after 4 years of ownership, you are really only getting an extra 3 year. The 7 years start from the date the car was purchase.

LexusBob

I have 51K miles on my '05 GX and pondered an extended warranty, but after some research on repair histories, and the fact that my wife has a 2002 RX 300 with 90K miles on it w/o any problems, I decided against it.

I think that many of us go through this after the factory warrranty is up and make a decision based on a personal comfort level.

Bob GX

G Man
I had the same question about the extra 3 years when I first brought this up with the dealer - my car is now 'warrantied' to 2015! Had to go with an after-market company (so this is not the Lexus extended warranty) to get this length, so I hope I don't get burned down the road with denied claims, etc. But it is 'offered' by the dealer, so hopefully they would go to bat for me.


LexusBob
You are right on about the personal comfort level thing - that is exactly the reason. I don't expect to have problems with major components like engine or trans - it's more the integrated Nav/ML/Heating & A/C, air suspension, computers, CD player, etc, that I was worried about. Interesting about your RX - I also have an 02, and no real problems yet, but only 55 K miles on mine. We will probably trade the RX in another year or two. My GX only has 12 K miles at this point, and I'll probably only have 70 K miles out in 2015 if my annual driving miles stays about the same.

kphu

iTrader: (8)

Bob_GX, glad to hear your keeping the GX for the long haul. I planned on keeping mine for the long haul from the gecko, luckily for me though I bought mine CPO so my warranty lasts until 100K (currently at 55K) so I got some time before I have to worry about that. I think I've already got my $$$ worth out of the warranty as the dealer replaced all 4 wheels from the bubbling issue and this past winter the clear coat was peeling in which they repaired for free.

SirSkrip

another long hauler here...

2003 GX470 with 70K, driven almost daily... averaging about 19MPG. Lots of freeway driving.

not bad for a big heavy V8 SUV thats for sure... compared to everything else out there. Again, this is a well built machine that will get you to 100K without major problems (that is if you take care of it and maintain it well).

This isnt a GM or Ford, so dont be scared...

I6turbo

iTrader: (1)

What? You bought it from a lizard?

rj4510

I'm sticking with mine too. This is definitely not the time to trade in bigger SUVs. Everyone is in a panic and dumping their bigger cars. Once things settle down, gas prices lowering or not, the trade in value will improve. If nothing at all, the dealer will be more likely to negotiate, if they don't have a hundred large SUVs sitting in back.

A co-worker bought Tahoe 2.5 years ago for 38K (0% interest) and just traded it in, because it averaged 17mpg. The dealer gave him 13K in trade for a leased ES, which wasn't the sweetest deal I've seen. I know GMs don't hold their value, but 25K loss in two years is plain nuts. If you calculate his losses on the old car with the interest and depreciation on the new car, he just dug himself a huge hole trying to save 10mpg for a 20 mile per day round trip. Even at $4 per gallon, that will take a long time to break even, much less pay off.

The GX is a great car and all who are panicking and dumping cars may realize they still needed a larger car to travel or do what they need to around town. Not all of us bought bigger SUVs, just to make a point. The market will shift a bit at some point, so there's no need to lose our shorts because things look grim at the moment.

Just my 2C.

I6turbo

iTrader: (1)

^^^ True. MANY people make knee-jerk emotional reactions that don't make economic sense. For example, you're colleagues situation:

----------------- Tahoe -------- ES 350
mpg-------------- 17 ----------- 26
fuel cost--------- $4.15 -------- $4.15
miles / year----- 15,000 ------- 15,000
cost / year------ $3,662 -------- $2,394

fuel savings / year------------ $1,268

burl

2003 GX 470 with 46K miles. We bought it new and purchased the Lexus EW. Took it in today for 45K service and put pads on the front. We got a new IS loaner and after driving it for a day, I would not trade the GX. It still runs and drives like a new vehicle. We are in it for the long haul despite gas prices. Again outstanding dealer service with Lexus of Austin!

The G Man

How can you compare a GX to an IS There are people who have a real need for a trunk like the GX and there are people who dont have to worry about the gas prices, but for the rest of us, big trucks are a thing of the pass