I HAVE 1999 RX 300 ONLY 20,000 MILES 2WD,
THIS DECEMBER EXPIRE THE 3 YEARS GUARANTY.
THE PLUS GUARANTY FOR 3 MORE YEARS OR
100, 000 MILES IS FOR $2,000.00
IN THE DEALER.

HOW IS YOUR'S RECOMENDATION'S?????
BUY OR NOT???

ITS TO MUCH MONEY???
ALTERNATIVES???????

THANKS

 

I've had some bad experiences with aftermarket warranties. I wont buy them anymore.

Just ask yourself if you think a vehicle as new and reliable as yours is going to need more than $2000 in repairs sometime over the next 3 years. On this vehicle, I'd say you're better off not getting the extended warranty. Two reasons;

1. It's a Lexus and has fantastic reliability. I don't have exact figures, but I'd say after 50,000 miles, you'll pay about $500 in repairs (a hose may break, a seal may become loose, etc). That's well below the extended warranty cost.

2. Extended warranties often have a lot of fine print. So for instance if you have some kind of problem with your vehicle, it's at the warranty issuer's discretion to say whether it is "wear and tear" and can refuse to cover the repairs. It's been more of a pain in the rear for me than it has been beneficial. My point being - just because you have a warranty, doesn't mean every repair you have is going to be covered.


On the other hand, if your transmission seizes or your doors fall off driving down the highway, that warranty might come in handy... realistically this probably isn't going to happen.


Another thing I'd like to note. Insurance is gambling. You're betting against the insurer(warranty issuer) that your vehicle is going to break down over the next 3 years and it's going to cost more than $2000 to fix. So a good question to ask is - do you really want to bet against your car?

Best of luck,
Hando

 

i would buy it, i had all the power door lock actuators go out at 49000 miles, if i would have been over the 50000 makr it would have been over $1000.00 just for that, if they will cover everything for another $2000.00 i would do it, i am at 52000 miles right now and i wish i would have had them change out my passenger side front seat, the leather is aging ALOT faster than all the rest of the car, its a obvious defect but they wont cover it now

;(

 

As I approach my OEM warranty expiration, I'll probably spring for the extended warranty. I'm averaging 20K miles/year, so it'll come sooner than later. It should also help in resale on the open market.

 

First of all the $2000 at dealer is negotiable. For $50 fee, it is transferable when you sell your Lex... so part of it can be recouped in higher resale value. [I think CPO are like that]

You also have different milage/duration/deducatable options.

&

You can also get extended warranty through GE, Warranty Gold etc.

Read the fine print and deductables if any. Also consider how long you intened to keep the vehicle.

Earlier you buy the warranty, the cheaper it will cost. ... The price goes up each year.

On the average people would lose money on extended warranty, specially on Lexus/Toyota. If you are the unlucky individual (among the so many fortunate ones) to need repair costing more than your premium, you will be ahead.

Some one suggested that instead of buying the insurance, stash (was invest but that is not working well for most) the same amount away. ($2000 should cover about 1-3 repair visits).

Finally if you think in future, you will not have money to spare for unforseen repairs, buying the insurance now will buy you some peace of mind.

Salim

 

Get the warranty. For $2000, make sure it is a LEXUS factory warranty. For a little less money, your local dealer should be able to offer another warranty (i.e. GE, etc.) And the warranty is definately transferable. But not a Certified warranty, that's not transferable from owner to owner. Good luck.