Platinum ECD Warranty
#1
10th Gear
Thread Starter
Platinum ECD Warranty
My dealership is pressuring me to sign up for a multi-year Platinum ECD for my soon-to-be-delivered NX-450h in Ontario, Canada. The plans seem quite expensive, so am wondering if it makes sense or not. Any feedback? Or is there an alternative way to get the same coverage elsewhere in Canada but at a lower price? (And is this something that can be negotiated?)
- Thanks
- Thanks
#2
Pressuring the customer to buy something usually means it’s too expensive and they are making money off you.
#3
My dealership is pressuring me to sign up for a multi-year Platinum ECD for my soon-to-be-delivered NX-450h in Ontario, Canada. The plans seem quite expensive, so am wondering if it makes sense or not. Any feedback? Or is there an alternative way to get the same coverage elsewhere in Canada but at a lower price? (And is this something that can be negotiated?)
- Thanks
- Thanks
#4
My dealership is pressuring me to sign up for a multi-year Platinum ECD for my soon-to-be-delivered NX-450h in Ontario, Canada. The plans seem quite expensive, so am wondering if it makes sense or not. Any feedback? Or is there an alternative way to get the same coverage elsewhere in Canada but at a lower price? (And is this something that can be negotiated?)
- Thanks
- Thanks
The following users liked this post:
harper7 (06-05-23)
#5
Racer
You have a 4 y full warranty (plus additional power train related coverage beyond), so you've got lots of time to consider it. No need for pressure. My dealer gave me the brochure on initial order, explained the details, asked if I had questions, and politely asked if I was interested, I politely declined, and we moved on. No pressure. That's the way it should be. As to whether its worth it, most of the time the value you get out of an extended warranty is piece of mind. That's something you need to judge for yourself what that is worth to you. Piece of mind can have a lot of value, so I would never discount that and neither should you! But always keep in mind that for extended warranties to actually work, the monies put in have to pay for all repairs/services incurred by all holders + pay a significant profit for the dealers et al. That means on average and by necessity you are much more likely to lose money in the process (speaking strictly financial, not considering the PoM factor). Its a bit like going to the casino, a few will win big, a few might break even, but most will lose, and the house, it always profits. Doesn't mean extended warranties (or casinos) are bad, you just have to understand the odds and your own comfort level for participating.
Just as a side note, the last 3 Toyota/Lexus cars I've had which I kept to age of 6 yrs, 18 yrs, and 13 yrs. None had extended warranties and none would have been a benefit to me if I had one. That's my own experience and why I generally don't care for them. Your results may vary.
Good luck with your choice.
Just as a side note, the last 3 Toyota/Lexus cars I've had which I kept to age of 6 yrs, 18 yrs, and 13 yrs. None had extended warranties and none would have been a benefit to me if I had one. That's my own experience and why I generally don't care for them. Your results may vary.
Good luck with your choice.
The following users liked this post:
Doug007 (06-07-23)
#6
We have owned Lexuses for the last 20 years plus. 3 in our current household. 08 RX350 AWD, 17 ES350, 24 NX350H.
I have never ever bought extended warranties, I choose to maintain it accord to "My own" schedule. The rest of any repairs are always self insured.
I have never ever bought extended warranties, I choose to maintain it accord to "My own" schedule. The rest of any repairs are always self insured.
#7
I've only ever owned one car with an extended warranty. It seems counter-intuitive, but I ended up having LESS peace-of-mind because I wanted to use the warranty for every little thing. (Zero-deductible policy.) Granted, the car was a GM product, and there were many "little" things, hah!
I wouldn't buy one for a Lexus.
I wouldn't buy one for a Lexus.
Trending Topics
#8
Wise words
You have a 4 y full warranty (plus additional power train related coverage beyond), so you've got lots of time to consider it. No need for pressure. My dealer gave me the brochure on initial order, explained the details, asked if I had questions, and politely asked if I was interested, I politely declined, and we moved on. No pressure. That's the way it should be. As to whether its worth it, most of the time the value you get out of an extended warranty is piece of mind. That's something you need to judge for yourself what that is worth to you. Piece of mind can have a lot of value, so I would never discount that and neither should you! But always keep in mind that for extended warranties to actually work, the monies put in have to pay for all repairs/services incurred by all holders + pay a significant profit for the dealers et al. That means on average and by necessity you are much more likely to lose money in the process (speaking strictly financial, not considering the PoM factor). Its a bit like going to the casino, a few will win big, a few might break even, but most will lose, and the house, it always profits. Doesn't mean extended warranties (or casinos) are bad, you just have to understand the odds and your own comfort level for participating.
Just as a side note, the last 3 Toyota/Lexus cars I've had which I kept to age of 6 yrs, 18 yrs, and 13 yrs. None had extended warranties and none would have been a benefit to me if I had one. That's my own experience and why I generally don't care for them. Your results may vary.
Good luck with your choice.
Just as a side note, the last 3 Toyota/Lexus cars I've had which I kept to age of 6 yrs, 18 yrs, and 13 yrs. None had extended warranties and none would have been a benefit to me if I had one. That's my own experience and why I generally don't care for them. Your results may vary.
Good luck with your choice.
As stated above, judge your comfort level.
The following users liked this post:
Doug007 (06-07-23)
#9
You don’t have to buy the extended warranty now. You just have to get it before the factory one expires
When I hear about the warranty at the dealership. I tell them the same story every time. I don’t need it because I only keep a car for a couple years. Then trade it in. They never seem to be smart enough to realize I’m driving a 6 year old car.
For any one who does want a warranty. Call Jerry
When I hear about the warranty at the dealership. I tell them the same story every time. I don’t need it because I only keep a car for a couple years. Then trade it in. They never seem to be smart enough to realize I’m driving a 6 year old car.
For any one who does want a warranty. Call Jerry
#11
#12
My dealership is pressuring me to sign up for a multi-year Platinum ECD for my soon-to-be-delivered NX-450h in Ontario, Canada. The plans seem quite expensive, so am wondering if it makes sense or not. Any feedback? Or is there an alternative way to get the same coverage elsewhere in Canada but at a lower price? (And is this something that can be negotiated?)
- Thanks
- Thanks
#13
Driver
Maintenance price goes up year after year, peace of mind to have the 3yrs included is nice to have from my point of view and it is not much more if you add up the $ you pay without the ECP. Unless you do everything as DIY then no need
#14
I wasn't intending to buy an extended warranty but my wife felt more comfortable with one. We used prices provided on this forum from Jerry at Mid West to negotiate a fair price, which matched Jerry's. I realize this is house money but with the supply chain issues and a new model year (ours is a 22) decided to go for it.
Since then I have never owned a Lexus that didn’t have a warranty available. This came in handy on my 2012 ISF. The A/C had control issues. And the last visit to the dealership was for almost 3 weeks. They ended up replacing every component in the car. In total with all of the visits to get it fixed. Came to almost 10k
Last edited by GXWes; 06-09-23 at 09:44 PM.
The following users liked this post:
Doug007 (06-12-23)
Thread
Thread Starter
Forum
Replies
Last Post