monz00n

has anyone bought an extended warranty from a third party (i.e. NOT lexus)? i'm thinking of getting one from warrantydirect.com, which is a few hundreds cheaper than the lexus'. do you guys think this is worth it?

4TehNguyen

iTrader: (1)

id rather spend the extra 300 at the dealer, than deal with someone outside of lexus, lexus will be a lot more timely with repairs, might even get a loaner

doctorttt

how much is Lexus' extended warranty anyway?

PhilipMSPT

iTrader: (5)

Check out the Lexus website for Extended Warranty Information:

Platinum and Gold Programs

The website has information regarding coverage and pricing.

I hope this helps!

kensteele

don't forget to check your insurance company. for just $36 a year, i get mechanical breakdown coverage from geico that is just as good as an extended warranty. 100,000 miles and $250 deductible.

http://www.geico.com/auto/claims/mbiclaims.htm
http://www.geico.com/auto/safety/mbi.htm

bgarre

With the legendary lexus reliability why extend? Your already getting 50K for what matters most.
I've found extended warranties a waste of money. Give me your money instead!

ULTiMaX99

iTrader: (5)

i got the extended warranty... i think it was 1900? only reason why i got it was cuz if i don't use it... it's fully refundable. i just lose out on any interest i woulda earned on it.

RA071224

I bought my Lexus extended warranty for an additional $1495 when I bought the car. 7 years/100,000 miles

LeslieRC

Personally, I'd go with the dealer. I had a warranty on my `04 SC430 that I purchased from the dealer when I bought the car. I traded-in that car last month for an `05 CPO BMW 645ci and then contacted Lexus about cancelling the warranty and getting a refund. The refund check arrived about 2 weeks thereafter.

BounceNY

iTrader: (9)

Could I still purchase the extended dealer warranty? My finance person told me that I cannot. I had read somewhere on the lexus website that you can get it, as long as its 2months before the standard warranty expires. Is this true, anyone ever do it?

-Bounce

Lets Drive

iTrader: (3)

If you are ultimately concerned, consider that I got a quote from warranty direct (or any other 3rd party), and simply asked Lexus to match it. They did, and all was well.

As far as I know too, the companies want you to purchase the warranty with the least amount of miles possible, otherwise the rates raise accordingly. I personally got a 6yr/100,000 mile warranty new (7 miles), as its a bit cheaper and I expect to drive the car often. I expect 100,000 miles to occur sometime at or before the 6 year period has been met.

likwid

when you guys cancelled the warranty, did you get a pro-rated amount back?

LeslieRC

Yes, I did. As I recall, the cost of the warranty on the `04 SC430 was about $1500, and my refund was for a little over $1K.

lifeisgood

Be careful with the aftermarket warranties.
They are generally cheaper, but the companies are not always that well capitalized, and are not regulated in the same way as insurance companies. I have had three cars with aftermarket warranties and two of the companies are now bankrupt. Fortunately, one paid for a several thousand transmission claim before it went bankrupt. The best after-market warranty I had was with GE financial. A very strong company, but even here it's not the same as a factory warranty. There are many exclusions that you won't find on the factory warranty. There are typically deductibles of $50-100 per claim. Some after market warranties are cleverly worded to exclude coverage on any factory defect or claim related to a Technical Service Bulletin.

Bottom line, if cost is a consideration, do your research--an aftermarket warranty from a reputable, well capitalized company can provide valuable protection from a major repair bill. But it's not the same as a factory warranty, and IMO, not worth the hassle.

dclive

Tell me how the refund process works. Where can I read about it?