Buy extended warranty or not?
#1
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Buy extended warranty or not?
The 2005 SC430 I just bought has 18K miles on it. The factory warranty ends on December 18th. Today they told me that I can buy a "Distributor's Warranty" that will continue the platinum level, bumper-to-bumper coverage for 100K or seven years from today, whichever comes first, for $3000 (special December, "Event to Remember" price).
I don't know what to do. Lexus has the best reliability in the industry, but all the electric motors and sensors can cost a fortune if they go bad. But what's the chance that they WILL go bad?
Should I take him up on it? How many owners have had repairs needed that would've exceeded $3000 had they had to pay for it? Three grand is a bundle for something you may never need, but repairs could easily exceed that if the car starts giving trouble.
I don't know what to do. Lexus has the best reliability in the industry, but all the electric motors and sensors can cost a fortune if they go bad. But what's the chance that they WILL go bad?
Should I take him up on it? How many owners have had repairs needed that would've exceeded $3000 had they had to pay for it? Three grand is a bundle for something you may never need, but repairs could easily exceed that if the car starts giving trouble.
#2
Pole Position
The 2005 SC430 I just bought has 18K miles on it. The factory warranty ends on December 18th. Today they told me that I can buy a "Distributor's Warranty" that will continue the platinum level, bumper-to-bumper coverage for 100K or seven years from today, whichever comes first, for $3000 (special December, "Event to Remember" price).
I don't know what to do. Lexus has the best reliability in the industry, but all the electric motors and sensors can cost a fortune if they go bad. But what's the chance that they WILL go bad?
Should I take him up on it? How many owners have had repairs needed that would've exceeded $3000 had they had to pay for it? Three grand is a bundle for something you may never need, but repairs could easily exceed that if the car starts giving trouble.
I don't know what to do. Lexus has the best reliability in the industry, but all the electric motors and sensors can cost a fortune if they go bad. But what's the chance that they WILL go bad?
Should I take him up on it? How many owners have had repairs needed that would've exceeded $3000 had they had to pay for it? Three grand is a bundle for something you may never need, but repairs could easily exceed that if the car starts giving trouble.
Good Luck
#3
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Thread Starter
CBG - Thanks for your input. Yes, I know that cheaper warranties are to be had, but most of those don't cover all the electric motors and switches in the car. This warranty is from Lexus, not a 3rd Party and that gives me a bit of confidence that if I bought it, I'd have few problems with getting things covered. I've never been a fan of extended warranties; I've always felt that most things go wrong in a car either immediately after delivery because something wasn't caught at the factory or way down the line (100k+) when age caught up.
My problem is that this is my first Lexus...hell, this is my first Japanese car. I think I'm probably the last person in America to own an import. If it were something much less complex like a Chevy, I wouldn't even consider it. I just have nightmares about the twelve motors in the top going out and having to be replaced as a set ($6,000). But what are the odds?
My problem is that this is my first Lexus...hell, this is my first Japanese car. I think I'm probably the last person in America to own an import. If it were something much less complex like a Chevy, I wouldn't even consider it. I just have nightmares about the twelve motors in the top going out and having to be replaced as a set ($6,000). But what are the odds?
#6
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Yeah, 7 years from the date of purchase is really good. My wife and I just bought a 2002 with 35,000 miles and decided to forgo the aftermarket warranty and go with the Lexus warranty. It cost us $3000 for 4 years/50,000 miles (from the date of purchase) but since the car is a 2002 we felt like it was worth it for our peace of mind. We used it on Day 4 of the warranty for the replacement of the driver side mirror ($600). I'm pretty sure that we'll get at or near our $3000 by the end of the warranty.
You can shop around and see if other Lexus dealerships can give you a better price. I know we got prices of $2850 to $4200 from different Lexus dealers for the same warranty! [We paid $3000 because the dealership that quoted us $2850 then said we couldn't get a warranty because of the build date (2001) on the Lexus -- not sure why another dealer was able to get it.]
You can shop around and see if other Lexus dealerships can give you a better price. I know we got prices of $2850 to $4200 from different Lexus dealers for the same warranty! [We paid $3000 because the dealership that quoted us $2850 then said we couldn't get a warranty because of the build date (2001) on the Lexus -- not sure why another dealer was able to get it.]
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#9
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Thread Starter
Oh, I think it's reasonable. My question is, is it needed?
For those who have had an SC up to around 100K, how many problems have you had? What are the odds of needed $3000 worth of repairs, particularly in non-drivetrain areas?
For those who have had an SC up to around 100K, how many problems have you had? What are the odds of needed $3000 worth of repairs, particularly in non-drivetrain areas?
#10
I am trying to shop for ext warranty myself for the wife's 05RX330. I got this guy's name from this forum. has anyone dealt with him before. $1655 for 7yr/100K Platinum; $1295 for 7yr/75K Platinum or $1275 for 7yr/100K Gold. Any suggestion on which one. This is Lexus Warranty not a third party.
Toyota of Greenfield
12 Olive Street
Greenfield, MA 01301
Attn: Troy Dietrich
Please call or email me if you think of any more questions. My phone number
is (413) 772-0989.
Toyota of Greenfield
12 Olive Street
Greenfield, MA 01301
Attn: Troy Dietrich
Please call or email me if you think of any more questions. My phone number
is (413) 772-0989.
#13
Lexus Champion
Go to your dealer's finance manager or general manager(if neither budge ask for the owner) and ask them to sell you the warranty for $1800 and they will! Especially if their is other placesin town to service your car. The dealer will benefit whenever the car comes in for service and any repairs you may have in the future!
The dealers cost for the warranty is about $1575.00! I bought a $3000 Jaguar Select edition 100K warranty at dealer rate for $1700.00 when I told them I would purchase it from someone else and use their service facilities.
The dealers cost for the warranty is about $1575.00! I bought a $3000 Jaguar Select edition 100K warranty at dealer rate for $1700.00 when I told them I would purchase it from someone else and use their service facilities.
#14
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I bought an extended warranty through Troy Dietrich
I bought the extended warranty (7 year platinum) through Troy Dietrich for my 2005 SC430 and all is well as far as I know. I have not had to do make any repairs, but I did check with my local dealership and they acknowledged that the new warranty is in place. Good Luck.
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