Extended Warranty (merged threads)
07-22-20, 06:46 PM
#166
Driver
I got the exact same quote from my dealer here in Ontario. Picking it up next week.
The sales person recommended I purchase the 84/140k for $3370. Based on my understanding, this is basically a three year extension beyond the manufacturer 4 year warranty correct? So $3,370 for an extra 3 yrs. Seems expensive to me when you look at it that way... basically paying about $1,100/yr for coverage.
I'm inclined to pass... it feels redundant that I'm buying a Lexus primarily for the reliability and then spending more for extended insurance. Kind of defeats the value proposition of Lexus. I might as well get something more fun and less reliable like an Audi if I were gonna get extended coverage.
Having said that, I'm open minded to feedback since you guys know a lot more. What do u think?
The sales person recommended I purchase the 84/140k for $3370. Based on my understanding, this is basically a three year extension beyond the manufacturer 4 year warranty correct? So $3,370 for an extra 3 yrs. Seems expensive to me when you look at it that way... basically paying about $1,100/yr for coverage.
I'm inclined to pass... it feels redundant that I'm buying a Lexus primarily for the reliability and then spending more for extended insurance. Kind of defeats the value proposition of Lexus. I might as well get something more fun and less reliable like an Audi if I were gonna get extended coverage.
Having said that, I'm open minded to feedback since you guys know a lot more. What do u think?
Save the money and invest it, and you'll probably get better returns. You also have until the end of your basic warranty to decide if you want the extended warranty - granted, the value proposition drops the closer you get to the end of your basic warranty, but at least you have that choice.
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coolbrazz (08-04-20)
07-22-20, 09:48 PM
#167
Unless you're buying first year of a redesign where issues tend to pop up a bit more (my story with my 2016 RX), I would advise against it. There's a lot of profit to be made off of extended warranties, especially for Lexus.
Save the money and invest it, and you'll probably get better returns. You also have until the end of your basic warranty to decide if you want the extended warranty - granted, the value proposition drops the closer you get to the end of your basic warranty, but at least you have that choice.
Save the money and invest it, and you'll probably get better returns. You also have until the end of your basic warranty to decide if you want the extended warranty - granted, the value proposition drops the closer you get to the end of your basic warranty, but at least you have that choice.
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coolbrazz (08-04-20)
08-03-20, 04:12 AM
#169
Knock on wood that I have never purchased one and never needed one. This is why I purchased a Lexus. I just be sure to self budget or invest some money for that major repair that hopefully never comes. Now if I owned a Chrysler.....nevermind, that would never happen.
08-04-20, 08:09 AM
#170
Lexus is rated one of the most reliable brands out there. If the recommended maintenance is followed you probably won't have any issues unless you have incidents out of your control. This is my second RX, and never had any problems. If it's a dealer CPO I would negotiate an extended figuring age vs mileage of the car.
If purchasing extended coverage on a new car makes you sleep better at night that's a decision only you can make no matter what the cost analysis calculate to. imo....
If purchasing extended coverage on a new car makes you sleep better at night that's a decision only you can make no matter what the cost analysis calculate to. imo....
09-25-20, 04:18 AM
#171
45K Service And Extended Warranty
So last Friday I took my 2016 RX350 in to the dealership for its 45k service. Its a Certified pre own I purchased 18 months ago. Besides the service inspection it also has the drivers side door recall to take care.
When I was at the dealership I mentioned I noticed a dime size oil leak on my garage floor a few weeks back.
So its now its another Friday and the car is still in the shop. Beside the service work. It does have a oil leak as well as a water leak. And to fix the problems the engine has to come out.
So the moral of the story is always have the extended warranty. This is my 5th Lexus vehicle. And I have always had either the extended or certified pre own warranty. Which worked out as each vehicle had at least one repair that cost more than the extended warranty purchase price.
Will see if the car is done today
When I was at the dealership I mentioned I noticed a dime size oil leak on my garage floor a few weeks back.
So its now its another Friday and the car is still in the shop. Beside the service work. It does have a oil leak as well as a water leak. And to fix the problems the engine has to come out.
So the moral of the story is always have the extended warranty. This is my 5th Lexus vehicle. And I have always had either the extended or certified pre own warranty. Which worked out as each vehicle had at least one repair that cost more than the extended warranty purchase price.
Will see if the car is done today
09-25-20, 06:26 AM
#172
So last Friday I took my 2016 RX350 in to the dealership for its 45k service. Its a Certified pre own I purchased 18 months ago. Besides the service inspection it also has the drivers side door recall to take care.
When I was at the dealership I mentioned I noticed a dime size oil leak on my garage floor a few weeks back.
So its now its another Friday and the car is still in the shop. Beside the service work. It does have a oil leak as well as a water leak. And to fix the problems the engine has to come out.
So the moral of the story is always have the extended warranty. This is my 5th Lexus vehicle. And I have always had either the extended or certified pre own warranty. Which worked out as each vehicle had at least one repair that cost more than the extended warranty purchase price.
Will see if the car is done today
When I was at the dealership I mentioned I noticed a dime size oil leak on my garage floor a few weeks back.
So its now its another Friday and the car is still in the shop. Beside the service work. It does have a oil leak as well as a water leak. And to fix the problems the engine has to come out.
So the moral of the story is always have the extended warranty. This is my 5th Lexus vehicle. And I have always had either the extended or certified pre own warranty. Which worked out as each vehicle had at least one repair that cost more than the extended warranty purchase price.
Will see if the car is done today
09-25-20, 07:26 AM
#173
Lexus Test Driver
Extended warranties return roughly 95% gross profit margin to the issuer. Good peace of mind I suppose for the consumer but I'll continue to self-insure. And at 45K, isn't the original B2B warranty still in force?
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SFFD785 (09-25-20)
09-25-20, 07:54 AM
#174
As far as the cost, If you pay 1000 dollars for a 4 year Platinum warranty. It could be all profit for the dealership. But if you have two 1000 dollar warranty claim repairs. Its 100 percent profit for the owner.
09-25-20, 07:55 AM
#175
09-25-20, 11:36 AM
#176
Pole Position
I rather self insure since it's a Lexus and is far less risk than anything else in its class. At the end of the day, it's a Toyota, and the engine/drivetrain has been used in millions of cars in the Toyota lineup.
OP: The oil leak most likely has been there and could have been covered under the manufacturer's warranty if it was noticed sooner. IMO, your issues don't constitute for everyone to automatically buy CPO or with extended warranties. Not that issues like this don't happen, but it's highly unlikely.
09-25-20, 09:10 PM
#177
Except it has happened on all 5 of my Lexus vehicles. Two new, 3 CPO.
Engine oil and water leaks. Navigation system replaced, complete overhaul of my air conditioning system. Air Bag warning light, XM radio module fail,
These are just the repairs that were over 1.000 dollars. Numerous other issues. On top of the transmission programming.
My leak I found was about the size of a dime. Easily missed if I had not put an epoxy floor coating on my garage floor.
But for those who self insure. Or those who lease or trade in before the original warranty expires. You’re good.
I tend to keep my cars 5 to 6 years. And the CPO or extended warranty has always paid for its self.
Engine oil and water leaks. Navigation system replaced, complete overhaul of my air conditioning system. Air Bag warning light, XM radio module fail,
These are just the repairs that were over 1.000 dollars. Numerous other issues. On top of the transmission programming.
My leak I found was about the size of a dime. Easily missed if I had not put an epoxy floor coating on my garage floor.
But for those who self insure. Or those who lease or trade in before the original warranty expires. You’re good.
I tend to keep my cars 5 to 6 years. And the CPO or extended warranty has always paid for its self.
Last edited by RXWes; 10-20-20 at 01:59 PM.
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exonw (09-26-20)
10-14-20, 05:33 PM
#178
Driver School Candidate
Join Date: Oct 2020
Location: MA
Posts: 1
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Vehicle Service Agreement Cost / Max Years on 2017 RX350 F Sport
Hello All,
I am looking at a 2017 RX350 AWD F Sport CPO from a dealer here in Massachusetts, I have been told the CPO VSA warranty needs to be purchased from the selling dealer only. Does anyone know how long of an extended VSA I can purchase on my CPO 2017 RX? I know that the CPO warranty will cover me for 2 years until 1/2023, currently the vehicle has 34,900 miles I plan on keeping it for a very long time just curious on the length of VSA and cost thank you all.
Todd
I am looking at a 2017 RX350 AWD F Sport CPO from a dealer here in Massachusetts, I have been told the CPO VSA warranty needs to be purchased from the selling dealer only. Does anyone know how long of an extended VSA I can purchase on my CPO 2017 RX? I know that the CPO warranty will cover me for 2 years until 1/2023, currently the vehicle has 34,900 miles I plan on keeping it for a very long time just curious on the length of VSA and cost thank you all.
Todd
10-16-20, 03:12 AM
#179
Buying Extended Warranty
I’ve never purchased the VSA warranty except on a new Lexus
When I did I call around and found Jerry at a Toyota dealership who undercut the Lexus dealer by 40 percent.
You should call around and ask
When I did I call around and found Jerry at a Toyota dealership who undercut the Lexus dealer by 40 percent.
You should call around and ask
Last edited by RXWes; 10-20-20 at 02:01 PM.
10-19-20, 07:21 PM
#180
Driver School Candidate
so i just recently purchased a 2020 rx350 fsport. i told them i work at a dealership and they tried to sell me a 10 year/100000mile warranty for $2150 bumper to bumper 200 disappearing deductible. It's a CNA warranty and they're one of the best companies around. didnt buy it but bought a zurich warranty through my work instead for $1950 10year/105kmile warranty $100 deductible. Dealerships usually mark up 2k so theres always room!