Extended Warranty

[mafpolo]

My 2002 LS doesn't go out of warranty until Oct 2006. Should I buy the extended?

[larryp]

I'm sure you'll get various opinions, but i'd say no. Typical ext warranty is $1500 - $2500 depending on what you get. Dealer profit is about 50%. Most only cover manufacturing defects so the opportunity to get your $1500 back on a Lexus is slim IMHO. You're buying an insurance policy with a big mark-up that i don't think you'll be able to collect on. But that's just me. :whistles:

[nc211]

I thought that's what we were for? An extended warranty with hook-ups on cheap prices! LOL

It's a crap-shoot if you ask me. These cars are so dang reliable that the likelihood you'll need the warranty, or should I say, you'll have a warrantable issue, is slim. However, there has not been enough time to tell if the ls430 and those changes made to it from the traditional ls400 will be as good. I'm betting they are, if not better. I do know a friend with a 98 and has that 100k extended warranty which saved his butt on a ecm "engine computer" problem. So, it's really up to you.

[Archibalds]

Buy the warranty! but wait until it is almost out of basic warranty first. You can buy a warranty up until that point without needing an inspection. And if the warranty company lets you buy one after your warranty expires and does not require an inspection, run from that company.

Now the thing you need to do is find a good warranty company. Make sure they are indemnified in your state so they cant go bankrupt on you, make sure you have wear and tear coverage, that is a big deal. Make sure it is cancellable and transferrable and what the limit on repairs is. All warranties will have a max on repairs and that will go fast if you have a well equipped car and some issues arrise. Oh and if you do buy one, always save every service record and do them by the book.

If you are still on the fence when the time comes up. Drive by the Lexus dealer and look at all the cars in service. They are not all there for oil changes, they break and when they do it is extremely expensive to fix them.

hope this helps

Danny