Warranties and Maintenance Contracts

[coopsgirl17]

Just purchased a new NX450+ on Friday night - 1am Saturday. I had planned on just getting the Luxury Care 2 or 3 year plan.  I was not going to get the Tire and Wheel plan - because I'd like to get rid of the run flats asap.  Nor was I ready to do an extended warranty - car had 6 miles on it.  By 1am when I finally left finance - I had 5 year maintenance, 100k, extended warranty and Tire and wheel to the tune of an extra $10K AND I was encouraged to get the Lexus credit card at zero percent interest (still haven't seen any proof of that) to put more money down on the car due to the extra $10K.   How did that even happen?

Before I go and cancel all of these plans, I need to know if I really need them.  I'd appreciate any input owner have: Lexury Care - do I need it and if so, for how long? Lexus Platinum Warranty - Do I have to buy it now? Can I buy it at 40K miles if I plan on keeping car for a long time?  Warranty from other company?  Tire and Wheel - Do I need this, if I replace all my run flats with AT Tires? Is it worth 3K?  

[Bob Carlson]

Surprised to see you have not had any replies. Just ordered our new Lexus and have been thinking about the warranties and plans that will be offered when we take delivery, what did you decide to keep?

[Wayne Ottoway]

I do not buy dealer adds nor warranties. They are high markup, high commission items. That is why they push them so hard. From what I could tell most of the warranty stuff would be covered under your auto insurance policy or the bumper to bumper Lexus warranty. If I were you I would cancel everything and put the 10K in the bank for emergencies.

 

[RX400h]

Extended warranties for most Japanese vehicles are a bad gamble. See below:

Consumer Reports: Extended Auto Warranties are a High-Priced Gamble

According to CR, the three most reliable auto companies are:

Lexus
Mazda
Toyota
Of the top 10 companies, Japanese companies make up 8 of the places.

[pschoggens]

I heard about Jerry from the 4runner forum as being a straight shooter.  I sent him an email and followed up with a text, he replied at 9pm via text.  The next morning I got a call with the same quote I read all others were getting...$1360.00 for 10yr/100k miles Platinum Warranty with $0 deductible, and because I was from out of state, no tax, and using my debit card no fee.  Good anywhere in USA + Canada.

 I then tacked on the 5yr/75K maintenance for $1055 for a grand total of $2415.    I asked him about my wife's 2023 es300h and he said $2505 for the 10y/100kmile extended warranty, but was not able to quote the 5y/75k warranty for maintenance, but we have lots of time before reaching the cutoff for this purchase.

We discussed the reliability of Toyota and he said he agreed they are super reliable cars mechanically, but they have so many computers on them that one failed unit could easily cost more than the warranty.  So $250/yr for peace of mind is cheap insurance for me.

Perhaps have a conversation with him to see what he would suggest you do.

FYI

 

Cheers,

😛

Edited August 9, 2023 by pschoggens