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Warranty Extension At Lease Expiry


Cost Effectiveness of Warranty extension  

  1. 1. Would it be worth the money to extend the warrany at the end of (4 yr) lease when the odometer miles are only 20,700?

    • More than the peace of mind, does anyone achieve any real benefit in extending the warranty at 4 year lease expiry?
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I have an RX 350, 2008 model nearing lease expiry. The dealer told me about warranty expiry. The car's odmeter reading is only 20,700. Would it be worth the money to extend the warranty for another 4 years? Other than peace of mind, does it achieve any real benefit by buying the extended warrany, especially when the car has such a low mileage?

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I would, my 07 has has some issues, not major, but surfaced between 45- 55,000 miles,

air bag issues, heater core, ignition coil, more than paid for the service contract

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I have an RX 350, 2008 model nearing lease expiry. The dealer told me about warranty expiry. The car's odmeter reading is only 20,700. Would it be worth the money to extend the warranty for another 4 years? Other than peace of mind, does it achieve any real benefit by buying the extended warrany, especially when the car has such a low mileage?

I added the extended warranty at time of purchase, and thankfully have not had to use it yet; but the peace of mind is worth it to me. Nearing 60k miles on my 08 RX and have not had any problems at all so far..

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  • 2 weeks later...

A (extended) warranty is in fact an insurance. And the golden rule as far as insurance is concerned is: You should only get insurance if you cannot afford the repairs.

Also, more fears = more insurance.

Btw, it is a gold mine for the dealers. Margin is usually close to, or in excess of 100%.

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