So as mentioned in a previous thread, I have a deposit down on a 2010 LS460 Sport with 65k miles. The dealer (CarMax) is offering me a 4 year/60k extended warranty for 2k extra. They say it is bumper to bumper and specifically i asked about electronics, amps and air suspension, all covered.

However I see lots of dealers in my area (KC) that offer "lifetime warranty" for as long as you own yor car. Since I never trade my cars in or even sell them (I have 11 personal cars at my house right now, 13 is my record) the lifetime warranty is appealing.

So my questions are:

1. Does anyone have experience with these lifetime warranties and if so, please share the details and your experience.

2. Has anyone dealt with CarMax on any warranty issue? The yelp and cars.com reviews are solid but i am still curious how well they honor their warranty.

3. Do any LS owners have sources, experiences and prices with other extended warranties so i can judge if the 4/60 for 2k from CarMax is a good deal or not.

Thanks again guys!

 

Congratulations on the new car!

1. Those are typically very specific - you have to read the fine print to see what they cover. But the last ones I saw covered only the drive train. And it was only specific parts of the drive train and in order for the "warranty" to remain active that shop has to do all the work. Some also fall off depending on how they define "lifetime".

2. The CarMax warranty seems to be very solid. Case in point: Doug DeMuro at Jalopnik with his Range Rover.

3. I have an extended warranty form my Credit Union that has been more than worth it. For some it's not worth it; your car might never need anything other than scheduled maintenance. There are numerous threads here about extended warranties. Just do a search and you'll get your answers answered.

 

That was EASILY the funniest thing I have read this week, thanks for sharing!!

 

I'm sure you did your home work and shopped around, but in my area carmax prices are ludicrous.

A good idea would be to join their Facebook page and then read through the posts that customers put on their wall. There you'll truly find how their satisfaction ratings and warranties are for real people. That's what I'd do.

 

Most "lifetime warranties" are engine and transmission only. I would say after the Lexus warranty, the carmax warranty probably comes in next best. After that, its a crapshoot.

 

That is actually what I thought as well. So much so that i searched for an LS for almost 3 months and never even went to their site a single time. However the KBB and edmunds book on my car, options and miles are a shade under 31k and I paid 28k which is the private party average.

I am even more confident in the car now as I pulled the secure lexus service records and then called the dealer who performed all service on the car from 12 miles to 64k. 8 pages of records and the service advisor knew the car and said it was a solid and well cared for CPO.

Add the 4/60 warranty and i feel pretty good about the purchase!

 

I bought my car from a high end import lot. They offered me lifetime power train warranty from 5 Star Warranty for $650. Also to add the all inclusive including tech coverage was $2650 total. lifetime coverage. I didn't buy either because I'm a fool. I'll fade the heat when it comes.

 

I guess I'm a fool too. But now I'm a richer fool. Declining my warranty saved me nearly 3g dollars and the only repair that I've done is a new water pump which cost me less than a hundred bucks and 90 minutes of my time.

 

So far I've only had to rely on new parts warranty for that one stubborn RR air shock on my Sport.

I think they offered me 2yr/24K for $1800 when I bought it but it would have effectively only lasted me a year with as much as I drive.

 

Not familiar with it myself, but curious if you are forced to make repairs at Carmax only with this warranty?

There are other third-party options as well and I think, although not sure, you can buy one directly from Lexus, although they may have exclusions on mileage and year.

I know the Lexus one works at Lexus service centers. Third-party warranties are pretty much independent of servicing location as well.

 

Excellent! Sounds like you did good for yourself.

 

I think it depends on the type of LS you buy, if it's a loaded model with the air ride, etc?? Probably not a bad idea. If it's the base model without the air ride? For me personally, I would have wasted my money on a warranty - and I was offered one - I've put 60,000 miles on it since then and my repairs have come in at around $600. So I would have really lost on that warranty, plus those repairs came after the warranty mileage would have ran out.

 

He's a funny guys. His articles with his RR and now Aston are pure gold. Glad I could share something to share some laughter!

CarMax and most aftermarket warranties let you service the car wherever you want. In my case I just have the dealer do everything. You just want to make sure that all work, especially maintenance, is well documented. They allow DIY maintenance also just make sure you're keeping documentation of what you're doing.

Yeah it's one of those things that could be worth it for one and not the other.

 

$2375 got the CPO warranty extended an additional two years through lexus unlimited miles.

 

If you shop around, you can find it at a lower rate. I got mine extended for 5 years for $3500.