Mancebof

iTrader: (2)

My IS250 is at 110k miles and I worry that il have to waste loads of money on rapairs down the line. Ive had the car for 6 months and added about 6k miles. Wanted to know if there are any Warranty's out there being offered for vehicles 100k+ that are worth the money. The ones advertised on the radio seem like a gimmick. I was considering trading in for a lower mile CPO vehicle as well but my payments are at 270 per and i dont want to go above 350 on payments.

calvin2376

iTrader: (2)

Just get online and start looking for some quotes on warranties. WarrantyDirect.com, etc. People on this thread will try and talk you out of buying a third-party (non-Lexus) extended warranty, saying the companies are shady, etc. I've used third-party warranty companies before and they can be great if you do your homework.

Make sure you research 1) the number of years the company's been in business, 2) reviews of the company online, 3) it's BBB rating and number of complaints, and 4) the name and quality of the underwriting company.

I will say two things. First, you can definitely find warranty companies that will cover your car at the mileage you have. BUT the price of the warranty will likely be prohibitively expensive ($2000-3000) for any reasonable period of time (like 2+ years). I would imagine that you'd be better off simply not buying the $2000 warranty and instead investing it or holding it in savings in case you need it for repairs. I'll bet you'd come out ahead, because these are reliable cars. In addition, these extended warranties won't be comprehensive, they'll be inclusive (which means they list specific parts or components that are covered, meaning all non-listed parts aren't covered) which means you'd be buying a $2000+ warranty without a guarantee that it will cover any and all problems you may have. You might spend $2000k on a warranty then have a water pump failure that costs $1000+ and find water pumps aren't covered by the warranty. For this reason, whatever warranty you might choose, you MUST read the policy and contract carefully multiple times to ensure you understand it and know its limitations.

calvin2376

iTrader: (2)

CPO of course would be preferable but you're right that your payment would go up significantly.

rogers2

I really don't know your financial status but if your paying 250.00 dollars a month you should just put money to the side and forget a warranty. Put 2K in your savings and call it a day.
Man ole man the things I would do if my car payment was 250.00 dollars. I will take a trip every other month.

funglenn

iTrader: (10)

Intersting how Calvin said most wil try to talk you out of it...that is because many believe they are not worth it because of experience. He is the first person I have heard of actually getting a repair covered. My brother bought a high mileage car and then one of these shady things from the dealer.

6 months later the engine blew and it was not covered...they called the failed part wear and tear . In the end he paid 1300K for the useless warranty and then paid 3500K for a new engine and install out of pocket.

Don't do it, no one in their right mind would warranty a high mileage car and plan to pay out easily. IF you file a claim prepare for an uphill fight.The IS is reliable but you bought a high mileage complex car--put money aside and you should be fine.

KillaIS250

iTrader: (1)

Here's my opinion on the matter..

Don't spend money on an extended warranty at this point. Most of them will be a waste of your time, and you're more likely than not to get a crappy warranty that will swindle you and do what they can to avoid a pay out. Instead, whatever money you felt comfortable spending for an extended warranty, put it into savings. And the extra $80 a month your comfortable with spending on your car payment, save that too. You'll have about an extra $1k at the end of the year. Plus what you would have paid for the warranty.

Btw, member "MoLexus" is at 250,000, if you worried that your going to have issues with higher mileage...
https://www.clublexus.com/forums/is-...es-review.html

ThermonMer

im confused...

you bought the car with 104k on it...and youre now asking this question because youre concerned youre at 110k ????

Mancebof

iTrader: (2)

I came from a 98 accord with 210,xxx miles so i felt like 103k was nothing. But being more active on this forum i am seeing how expensive
Repairs can be should anything go wrong. I could have leased for 340 per but being 21 i wanted to own an asset not just be assed out after
3 years. Saving 2k in the bank seems a lot more reasonable. Thanks guys.

KillaIS250

iTrader: (1)

Good choice. Bank the money, you'll be happy in the end if you don't need it

UniSlayEX

I dont get it. So you put another 6k mi on the car and are now concerned? I wouldnt worry about repairs just yet. Make sure you service the car at regular intervals and im sure it will last. If youre willing to pay for a warranty, just put it in a bank just in case. There are cars with a bunch of miles on them (some that scare me to be honest) and they seem to do fine.

tBayBoi20

I was in the same boat since i just went over 90k but I agree with everyone else in this thread, save the money and put it away. With regular maintenance, we should be just fine but having the cash put away gives me piece of mind...