dkaplan435

Lexus quoted me $2500 for the extended warranty. I asked for a discount and was told that this was the discounted price....

I called GEICO and they offer the same 7 year, 100000 mile warranty for $100 a year. The catch is the $250 deductible.

GEICO insists that their warrany covers Lexus parts and service.. I once had a 3rd party extended warranty on my M3 and it was always a hassle to get my car serviced at BMW. The 3rd party company always nickle and dimed me.

Does anybody have any information for me regarding real life experience with the GEICO extended warranty? Do they REALLY let you get Lexus repair and warranty work, with no caps on anything?

I'd really prefer to go with the Lexus warranty but I want to get a deal. I paid retail for the car (no complaints there) but I don't want to pay retail for everything else.

Thanks!

4TehNguyen

iTrader: (1)

id rather have the warranty at a dealer, it will be easier to get things done and over with. Instead of paying and getting reimbursed by geico

rominl

iTrader: (4)

that is a stupid price. when we got our sc430, they offered 1300 for the extended warranty. when we got our ls460l, they offered 1400.... sounds very expensive for 2500 on extended warranty

and personally i am not too interested in extended warranty by others as well

lobuxracer

iTrader: (2)

When I bought my Supra they went from $2200 down to $710 for the 5/100 plan and $50 deductible. It doesn't sound like they were really interested in selling you the plan if they wouldn't come down from $2500.

Fa-suto

So look at it in another way that comes to about $360yr assuming you drive 14k miles or less.

Actually it's not really that bad, but yeah, you might get it cheaper elsewhere, but you will have to handle the paperwork and anything else dealing with a 3rd party and Lexus. At that price point per a year, I would rather avoid the hassle and go with the Lexus warranty. Of course, hassle them a little to see if they will go down, because it's pure profit for them at this point.

dkaplan435

Thanks for all the advice. I'll probably just pay the $2500. Gotta be safe and I plan on driving the car.... just like I drove the ***** out of my M3 before I traded it in for the IS350.

Cheers,

Dave

INHOCJP

Since the IS-F is a new model, getting the extended warranty is a great idea.

gengar

Agreed, I will get the extended warranty as well.

sirCharles

I second that, eliminate the 3rd party.

lobuxracer

iTrader: (2)

I've heard more horror stories about third party warranties than I have good ones. I've always bought the ones through Toyota. It's just like the OEM warranty in terms of what kind of grief you have to suffer when there is an issue. IOW, no grief at all.

I did not buy one for my IS350.

dkaplan435

I did purchase one on my IS350 but as soon as I put the deposit on the ISF (February 2007) I cancelled the extended warranty and got most of the money back from Lexus).

I'll probably pay the $2500 when I pick up my new snow tires / wheels tomorrow.

INHOCJP

Try negotiating the price down, or call some other dealerships for quotes. You'll be surprised at the range of prices you'll get.

rominl

iTrader: (4)

i second that, 2500 is just very expensive.

might as well just purchase it towards the end of the normal warranty

dkaplan435

That's a great idea, thanks. I'll give it a try and report back.

ultra63

Big mistake to buy extended warranty now. You will not need it for 4 years. It is worthless on trade in value( may be worth something on a private sale though). If car is totalled in an accident warrany money gone. You can buy Lexus Platinum warrany cheaper at end of factory warrany period tax free from an out of state dealer in 3 years 11 month and 28 days and you have interest on $2030 for 4 years. You should not pay more than:
7 YEAR 75000=1540.00
5 YEAR 100000=1345.00
6 YEAR 100000=1580.00
7 YEAR 100000=2030.00