Should You Spring for a Lexus Extended Warranty?

Worth It?

One of the most common questions we see here in the Club Lexus forums relates to extended warranties and whether or not they're worth the cost. But the answer to this question isn't that simple. Some folks can certainly benefit from extended warranties, while others may not find much value in them. Thus, we've assembled all of the things you should consider before you plunk down your hard-earned cash on one here for your convenience.

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Standard Warranty

All-new Lexus vehicles come with a standard warranty that covers certain components for a certain length of time. Currently, that includes a 48-month/50,000 mile bumper to bumper protection, 12 months/12,000 miles wheel balancing and alignment, 72-month/70,000-mile powertrain warranty, 8-year/100,000-mile hybrid warranty, 72-month/unlimited mileage corrosion perforation warranty, and 12 month/unlimited mileage service parts warranty.

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Things Not Covered

These standard warranties provide a solid amount of protection, but there are things they don't cover. Those items include normal wear and tear, water damage, improper repairs, theft, fire, negligence (such as skipping scheduled maintenance), accidents, abuse, and environmental damage. 

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Making Sense

Lexus builds notoriously reliable vehicles, but if you plan on keeping yours past the standard warranty period, it could make sense to purchase the extended warranty. Lexus repairs tend to cost more than non-luxury vehicles, and one costly out of warranty repair could be enough to cover the cost of the extended warranty. For example, according to RepairPal, simply replacing the power seat switch in a Lexus NX can set you back over $1,000.

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Adding Up

More major repairs, such as replacing the transmission, can easily run upwards of $3,000 or more. And while that's not typical with most Lexus vehicles, it could certainly happen. Thus, it's worth looking at the various extra protection plans that Lexus currently offers.

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Various Plans

There is a variety of Lexus Vehicle Service Agreements (VSA) available. Lexus Extra Care Premium is the most comprehensive, covering repair costs related to mechanical breakdowns after the standard warranty expires. Lexus Extra Care Gold covers an extensive list of components, while Lexus Extra Care Powertrain includes the engine, transmission, and drive systems following the standard warranty's expiration.

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Tiny Print

Lexus also offers various a la carte protection plans including wheel and tire protection, excess wear and use, prepaid maintenance, and guaranteed auto protection. These policies are available from Lexus dealers at any time. If you purchase them when you purchase the car, they can be included in the financing and added on to your monthly payment. The policies are transferable to a new owner one time and can be refunded fully (minus a $50 processing fee) within 30 days of purchase. After that period, refunds are prorated.

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Pay the Cost

The other obvious thing to consider here is cost. Lexus extended warranty plans vary greatly in that area, and depend on the cost of the vehicle, model, make, year, and the type of coverage you choose. Full protection obviously costs more, but if you're only worried about mechanicals, you can save quite a bit of money by going with something like the powertrain warranty instead.

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Playing Hardball

It's also worth noting that oftentimes, the cost of these protection plans can be negotiated at the dealership. There are plenty of folks that have declined coverage only to be offered significant discounts. So it's worth researching the various plans ahead of time, choosing the right one for your needs, then perhaps playing a little hardball at the dealership. In the end, you could wind up saving a ton of cash this way!

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For help with service of your car, check out the how to section of ClubLexus.com