marucus1

eyefone

I went with "red shield protection plans". When it was time to fix a speaker that had blown out, they told my dealer: "While there is static coming through the speaker, it is still putting out sound. Therefore it is not broken and is not covered under the warranty."

Needless to say. I will be trying to get my money back.

Helo58

I have a Ford ESP on my 2010. It is more expensive and the dealer has a lower margin than other plans, but it is backed 100% by Ford MoCo. It is the PremiumCare and covers everything except consumables.

vraa

iTrader: (2)

I've used Carchex a few times on a few different cars. Had a great experience with them all except one claims company they farmed it out to on the most recent situation - but Carchex made it right.

CDeGroff@carchex.com

Tell him ricky with all the lexus cars sent you.

Disclaimer - I used to think extended warranty companies were bull****. Once they paid for the control arms on my LS600hl, differentials for the LX470, and a slew of other stuff on the IS-F I changed my mind. I actually got my moneys worth.

UCrazyKid

years ago I used Warranty Direct to cover a 2002 Porsche 911. I had to make several claims against it and they were good about paying and worked directly with the dealer. In this example I ended up saving money. The car need 5 replacements of the rear main engine seal at about $1,800 a pop. I was surprised at things it did NOT cover but they didn't add up to much. For example they did not cover the brake cleaner that was used to clean up the flywheel area during the work. I sold that car with 6 months left on the warranty (transferable) and that coverage made it VERY appealing to buyers, basically de-risking their purchase of a used car from a private party.

Make sure you get an EXCLUSIONARY warranty. This means the contract lists everything that is NOT covered. This way you know exactly what you are covered for (everything else) and won't be surprised when something you need repaired was not on the list of an inclusionary warranty.

Check with your auto insurance, home insurance, renter insurance... company as sometimes they offer discounts based on relationships with the warranty company. Check with Costco or other club stores as well.

Coverage for a Toyota product may seem a bit ridiculous since they are usually so solid, but in the case of the ISF and the high cost of parts, how the V8 is squeezed into the engine compartment, and the electronics, it is an expensive car to work on. Make sure a warranty would cover: Leaking exhaust manifold, leaking water pump, valley plate oil leak, navigation screen failure (usually the touch digitizer), the subwoofer in the ML system, camshaft solenoid, decaying interior trim (unlikely to be covered, as wear and tear item), leaky shock absorber, water in headlight assembly, instrument display needle light going out. That's all I can think of of common failures or problem areas.

I had the Lexus Platinum, no-deductible coverage (same as factory coverage) for 8/100,000 and the claims I had against it out of the regular warranty period were, Nav Screen, Exhaust Manifold (might have been billed under California extended emissions system warranty) and the Mark Levinson subwoofer. I think I came out about even for what I spent on the extended warranty.

cvt

When I bought my 08 I was hesitant to buy my extended warranty through Mercury. Fast forward almost 2 years later and through warranty claims they paid for a water pump replacement ($750), a tow to the dealership after a dead battery ($175), and my nav unit replacement ($1900). I asked them if a valley plate leak was covered and a leaking exhaust manifold and they said it was part of my policy too.

s2kimport

So if these insurances are so good and we have a car that realistically doesn't need that many repairs, how are those insurances making money? From this thread it seems that extended warranties are the best thing to do, nobody has lost any money and they were all worth it and end up saving money....

I couldn't imagine what repairs people from BMW, Merc, Audi, etc etc are having.....something doesn't add up.

glerink

there is a lot more cars that actually don't break, that's how they make money.

s2kimport

the ratio of cars that breaks are way more than the ones that don't break. I think this warranties are completely BS. or maybe I am not the type of person who will take my car to the dealer or raise 1000 complains to the warranty until they "approved" my repair lol.

cvt

I would agree with this statement if I had owned a simpler vehicle like a toyota corolla. Plopping down $2,500 for an extended warranty would be a big waste of time. But if you have a more "complicated vehicle" with touch screens, starters that cost $700, potential valley plate repairs ranging from $1,500 to $2,000, Manifold replacements that cost up to $3,000....let's just say I am glad I got an extended warranty..it has more than paid for itself already and I still have 2 more years or 20,000 miles left.

It's definitely not for everyone. But so far I have not been denied coverage and my Lexus dealership has worked seamlessly with my aftermarket warranty supplier.

s2kimport

and that's exactly why it doesn't add up. If you had a corolla or a civic like you stated, you wouldn't get the extended warranty right? So most of the time who gets extended warranties are people with more "complicated" or "prone" to break down. If that's the case, then how are these extended warranties on business?

A simple differential, trans, engine, or even in our case the door panels, that's easily over 3k.....

cvt

That's an assumption. If extended warranties are a failed business they would die out quickly. But they aren't. I am sure a bulk of their business are policies that never see a claim. You are assuming people don't buy warranties for corollas but...as you know...people do some dumb s--t..lol. People get scared into buying warranties when they purchase a car. In my case it was this forum that scared me into buying one...lol.

s2kimport

I guess you're correct. From my experience in my family the only one that buys those warranties is my mom. And every single time we tried to claim something we get denied. So I get pissed, tell her to bring it to my garage and I do it for her.

Then the story repeats itself when she buys another car.....we go in thinking, **** the warranty. Then we start thinking, but it's for my mom, she needs to be protected or we might not have the time to fix her car, so **** it let's buy it.....another 4k down the toiler lol.

vraa

iTrader: (2)

Most "insurance" companies make money off the float, not the claims.