[hybrid]

How many people are going to purchase (or ALREADY HAVE purchased) the extended Lexus Warranty?

Lexus' Standard Warranty seems to be decent... Thoughts?

Basic 48 months/50,000 miles
Hybrid System 96 months/100,000 miles
Powertrain 72 months/70,000 miles
Restraint Systems 72 months/70,000 miles
Corrosion Perforation 72 months/unlimited

 

[lazero]

Wanted to get it (with CT being a new model and all) but didn't because it was too expensive.

 

[Bob259]

I got the 7yr 125K

 

[dkid]

Never keep a car long enough to need the extended warranty. I should keep a car longer, but after a couple years I start getting the New Car Fever.

 

[corrado_mr2]

I personally don't believe in paying for any extended warranties as I change things before they end up breaking (cars, electronics, tools). If and when they do break, I don't feel guilty buying a new replacement! Haha.

But even if I were to keep this car for ten years, I'd still not get the extended warranty for a Toyota/Lexus as they're rock-solid on reliability. The Prius has proven it since Gen1 and Taxi fleets in Vancouver with hundreds of thousands of kms racked up. Even Toyota heard of this and bought some Priuses out to study the cars' hybrid system and make it even more reliable.

As for the extended warranty, if interested, read the fine print to make sure expectations are met. If something breaks flagged as "due to wear and tear" good luck getting it fixed. I've heard disappointing stories of the like...

 

[2hunny]

I purchased extended warranty 2hunny, I believe its good for resale value. Its a 1st year release car, might as well get it covered.

I have the 2004 Prius as well (no extended warranty), over 130k miles and still running strong, with exception to warranty and recall work, I only had 1 major problem experienced, the Nav display failed at 60k. Dealer was asking $4k to get replaced, I didn't pay that and I fixed it myself. If I had that extended warranty, it would have been perfect.

 

[Matt_RN]

Here's my situation:

I normally am against warranties, I think they're just a way for the dealer to make money. HOWEVER, the money I paid for my warranty is refunded to me after the warranty period IF I don't use the warranty. For example, I got the 8 year/ 125K warranty, and it cost around $3050. If I don't bring the car in for any sort of repairs AFTER the factory warranty expires and BEFORE the add-on warranty expires, I get the $3050 returned to me.

This makes sense to me because I keep my cars for a very long time and this is a 1st year car w/ a ton of electronics. This was a no-brainer for me since if this car holds up to Lexus reliability, I get all my money back.

And yes, I do have this in writing. At the time I was signing my lease and warranty paperwork, there were a few people who were getting their refund checks since they didn't have to use their warranties for any sort of work.

Obviously, if something goes wrong but it's cheap enough to repair, I'm not going to use the warranty, but if something big like the NAV explodes and needs repair, this pays for it in itself.

 

[corrado_mr2]

Matt_Tom - Essentially they take you're money, invest it and make money off it.

I understand it makes sense in your case since you plan on keeping it well beyond the standard warranty. I'd probably go for it is as well if something like that was offered to me for the "free" peace of mind, but again only if I planned on keeping it for 5+ years.

 

[Matt_RN]

Matt_Tom - Essentially they take you're money, invest it and make money off it.

I understand it makes sense in your case since you plan on keeping it well beyond the standard warranty. I'd probably go for it is as well if something like that was offered to me for the "free" peace of mind, but again only if I planned on keeping it for 5+ years.

Well said. Definitely does not pay off if you end up selling your car or don't plan on keeping it for > 5 years. LOL. They gotta make money off of it somewhere. I know it goes into a pot to pay out the dealers for the warranty work and I'm sure they invest in it. But if I were to invest that amount, i wouldn't make that much off of it, at least not enough to offset any expensive repairs, so I figured, why the heck not. I don't have much to lose except for a little bit of interest.