isthrizzy

Exactly
I just had my nav replaced and an issue with the window switch
at a cost of $2400 and that more than paid for the extended warranty

titlenhand

I have owned my car for 3.5 years. Within that time I have had my repaired under warranty for several issues including loud rattling sound after starting the engine (this was fixed twice, one year apart), power lock failure on driver's side door (over a year ago), power lock failure on passenger side FR door (current issue; outside of warranty now $575 fix), rear wheel bearing or driveshaft issue right now (should be covered under power train warranty), not to mention a hand full of other things that were fixed under their "campaigns". I planned to keep this car for ten years, but given the past 3.5 years, I think that decision may be unwise.

While I have been generally treated well when service is required (both warranty and non-warrantied). Given the age of the car, and my non-abusive driving habits, routine maintenance, I expected a much more fault-free ownership from a premium brand, parented by Toyota.

calvin2376

iTrader: (2)

There are tons of threads out there discussing the pros and cons of aftermarket warranties: https://www.clublexus.com/forums/6495953-post4.html

I can't speak to that specific company. I had an aftermarket warranty through Interstate National Dealer Services and it was a fine experience, very happy I had the warranty. The problems people mention regarding third-party warranties are all valid concerns, however 1) they're far too often exaggerated, 2) many apply equally to OEM warranties, and 3) they're made to seem like they happen 100% of the time.

To your specific question, $2862 is outrageous for an aftermarket warranty on a 2006 Lexus with 65k miles. What are the terms? Is it exclusionary or inclusionary?

In the next week or so, I'd do some research online, call around and get quotes on warranties on your car. I highly suspect you'll find a better deal. To start, I'd check out WarrantyDirect.com and CARCHEX.com. If you find a better deal, cancel your current policy, get the refund and buy the new policy. $2862 is more than what some companies quoted to cover my 2003 Mercedes E55 AMG with 72k miles, a car most companies don't even warranty because it's AMG.

misaghk

Its inclusionary with $100 deductable. I checked carchex they queted me for $2960 4yrs 48k mile with $50 deductable. I was talking to united car cares this morning they told me $3228 (4yrs 48k $50 deductable)
I dont know how u guys get urs under $2000

threevoIS

he fails to realize you have a 5 yr old car with 65000 miles. The warranty you got is very long for the year and covers your car up to 125k miles. It is going to be expensive. Cheap warranties dont exist on cars over 50k miles...

peteypablo

iTrader: (6)

Wow! that's expensive!!!

misaghk

no one has extended warranty who is pleased with it? I am waiting for your help guys. which company is the best to go with?

GilIS250

iTrader: (10)

To be honest man, you are going to get mixed opinions on 3rd party warranties. Research the companies yourself, try to learn as much as possible, most people don't get extended warranties (that's my opinion), those of us who got it, either have not have it for long (my case), have had issues with them and others are fine. I personally think you should just try talking to the dealership, they might give you a better idea or even point you in the right direction. Dealerships would know about these companies and know what they can provide and how good/bad they are.

calvin2376

iTrader: (2)

You're not going to get an answer to this question. There are hundreds of companies out there, and since each company offers multiple contracts/policies/coverages, there are thousands of options for extended warranties.

Pick a company that has a good BBB rating, has been in operation for a long time, and has a good backing insurance/surety company. That's step 1. Past that, the only objective way to judge a company or policy as better than another is looking at what it covers and what its contractual terms are.

I can say that I'm a huge proponent of extended warranties, but I wouldn't pay $3000 for the coverage you got on your car. I know it's a long period and everything, but I think for that price I'd just take my chances. I bought an extended CPO warranty taking me from 56k miles to 125 miles also for 5 years, but it was only about $1800. I haven't heard of a lot of people racking up $3000 in repairs between 65k miles and 125k miles. It's of course feasible, if your nav and a few other parts were to fail for example, but it's very rare for that to happen. That's just me though - you have to weigh the risk against the cost.

misaghk

Royal Administration Services Elite Coverage (inc. RSA, S&G) 36 months / 36,000 miles $100.00 deductable
here is the contract http://docs.carchexcdn.net/coverages/IAP_2009.pdf
The navigation is included. It is $2,609.20.
I dont know about the parts that are covered. Is it complete? or its missing some?
What do u guys think? and also the company is A+ rated in bbb.

calvin2376

iTrader: (2)

Any inclusionary policy will be "missing" some components, because no policy can list every single item on a car. That said, the policy looks pretty good. Only thing is, this policy is 3 years for $2700, and I thought you said the first policy you purchased was 5 years for $2800. If that's the case, I would be going with the 5 year policy, unless it covers far fewer components.

misaghk

That one covers less thing and the company is F rated on bbb, so i just cancled it.

calvin2376

iTrader: (2)

Great move. You're lucky you could cancel it without a hitch. This is exactly the thing that gets people in trouble. There are so many stories out there of people saying they had a horrible experience with an extended warranty company, for example. The fact is that 99% of those bad experiences can be avoided by doing 15 minutes' worth of research on Google.

huch

True that... keep doing research. I did lots of research before I purchased mine and its been a month since purchase and I'm still digging (which is proving to be a greater and greater challenge since most links in my google search are purple). I would have to agree with calvin, I would look for an exclusionary plan not an inclusionary, one with a solid rating on BBB and one with an insurance underwriter. From all the problems I've read about about extended warranties I think it comes down to 3 things: 1) the sales agent duped the customer into believing something but failed to mention the fine print and wouldn't let the client see the contract prior to purchase 2) a client who didn't read and understand the contract and misunderstood the exclusions or inclusions or 3) the company pretty much didn't deliver on the obligations of their contract. Most are in 1 or 2. Another little bit of info I came across was these companies aren't so much concerned about WHAT failed but WHY it failed. In otherwords, if a covered part failed due to the failure of an UNCOVERED part such as a maintenance item, they will flat out deny your claim regardless if the major failed component is part of your plan. So just make sure you do your maintenance especially on belts/hoses/filters.

misaghk

which company did u go with? can u give me the detail of ur contract?