cmasten

top selling Premium Luxury Sedan around the globe for the better part of 20 years I dont think it will drop more than a grand or two at the most. I am not too excited either about the repairs, but it wont drop 18k.. where on earth do they come up with that number and what are they comparing it to? why not 13K or 21K etc?

matchead

I've heard $18k, but heard less also... $14k. I'm not certain how they arrive at their number...probably a SWAG. But, they are saying once an engine is breached, it is never the same. Fortunately, we have a friend, with a recalled LS460, is also an Attorney with experience in cases of diminished value. His take at this point, is that he has no idea whether it's worthy of further concern. But, given what we have been told, there are four of us in Texas who plan to research this very well before we allow Lexus to open our engines.

elite7

Well i dont have the platinum extended warranty. If i do end up getting it why would i want to shell out the $2,000 or whatever it costs ahead of time when i can do it a week before my existing warranty runs out? Not smart getting it ahead of time moneywise. Theres no reason too considering as i said you can pick it up even a week before your existing warranty runs out.

Buddy if you dont want the value to drop tough luck....cars are always losing value. The minute you drive your car out of the dealers lot you just lost $$$$.

Even if they never had the recall who says your car is invulnerable to getting in an accident? That will make the value drop when you want to sell it too.
The value wont drop $18,000 because of a valve spring recall.

The value of a car has never dropped in the past due to a recall. Do you have any sources? What are you basing this on?

Those car mechanics are just speculating. There have been a lot more serious recalls than valve springs and it never had any meaningful effect on the price of the car.

So i dont know what your car mechanic guys are smoking.....to tell you its gonna drop $18,000 they're nuts.

Same thing with the toyota accelerator pedal recall. There was a big scare and did prices drop? $18,000?

How about now the prices are back to normal just like they used to be.

snoylekim

For a similar scenario, BMW had a Rod Bearing replacement service action on M3s produced during 2001 -2002 (?) ..I don't recall a huge hit on the valuation of the impacted vehicles, and the 'Engine Breach' for this action appears to have been more complex than what might need to be done to our engines... BMW did extend the warranty as well .. The only 'hit' from this service action that I recall was to vehicles that were sold before the announcement and the owners had chose to postpone the work .. Be interesting to get some Blue/Black Book Pre and Post Announcement quotes or auction numbers ..

matchead

Ok...enough of this. We'll see how things play out.

elite7 - By the way, when you buy a Platinum warranty; the covereage, both in years and mileage, starts when the vehicle is first put into service. You DON'T just tack a new policy onto the end of your original warranty. In other words, if you buy a platinum policy for 7 years or 75k miles; you have actually bought a 4 year policy and mileage added onto your original 36 months or miles of coverage. You have not bought another 7 years or 75k miles of warranty.

I didn't realize this was going to be a personal thing. No more from me.

elite7

Never made it or intended for it to be personal.

Also yes i knew that you dont get an additional 7 years warranty. Its actually and extra 3 years not an extra 4 years warranty because the original warranty is 4 years. You are tacking on an extra 3 years and 25,000 miles on top of your normal warranty. As i said you can always add it up even a week before your normal warranty is going to run out or if you are getting close to the 50,000 miles mark. In the meantime i'm gonna hang onto the $2,000 for another 2 years until my original warranty just about runs out.

By the way the original warranty that comes with the vehicle is a 4 year (48 months) up to 50,000 miles full coverage warranty and 6 years (72 months) up to 72 months or 70,000 miles for the powertrain warranty on the Lexus LS460. You were stating the original warranty is 36 months and the platinum is another 4 years. Platinum is 3 more years on top of the 4 original years.

In terms of the platinum warranty you cant buy that protection after your original warranty is up.

elite7

Thats where i'm most likely gonna take mine if need be. Any information yet on that full extended warranty?

Please let me know if you have any new information on it if you dont mind .

snoylekim

Mine will be done at McGrath/ City ..I haven't checked yet because I still haven't received anything from Lexus ... so, we wait ... Not planning on putting mine in until the Winter months anyway, so .. Thanks for the info ..

Junior1790

I'd like to know about this myself, mine went in today and my dealer told me flat out no, there no extended warranty..

Craig B

They won't receive the parts or tools until someone from their dealership goes to school for training. The shop foreman at my dealership is taking the training this week. I haven't received a letter in the mail, but he's going to put me on his list for the repair.

jmcraney

A new document regarding the valve spring recall has just been posted on the NHTSA site. It is the "Owner Notification Letter" for the valve spring replacement Safety Recall.

A couple of noteworthy items: the repair time for the GS 460, LS 460, and LS 600hL is approximately 13 hours and owners who have previously paid for repairs related to this condition can apply for reimbursement.

Although it is possible that some sort of public relations gesture is in the works, there is no mention of any extended warranty in this document.

VA380

I got the call from my Lexus dealership today ... my car is going into surgery next Thursday :/

DrComputer

Just picked up my car from Keyes for the valve sprint replacement. They ding corporate for almost $4K in charges but everything seems to work fine. As for the extended warranty, they said I should receive something in the mail. I also had them do the 30K service at the same time.

VA380

Is this fact?

rominl

iTrader: (4)

so it's about 2500 to do the v6 and 4000 to do the v8 huh