Used vehicle warranty. Good, bad?

[Degsy]

My wife is bying a 2006 Lexus GS300. The dealer has offered warranty for 3 yrs/36k miles from a company called JM&A underwritten by fidelity. The cost is about $2k

4 years/48K would be $2400

I know these things can be a minefield.

Anyone have any advice. These prices seem very high.

[newgixxerchic]

wow lexus warranties must suck if it doesn't come with the factory... it's only a 2006... In this economy, I would think you could negotiate.

[KillBill]

I would take my chances with a Lexus......they are a very well
built car....... my 2 cents.

and yes....that seems VERY high.

[Qfactor]

non-manufacturer warranties have a lot of holes. big known defects are usually not covered.

if it's what you want, read the policy / coverage carefully and thoroughly.

I'm not familiar with Lexus maintenance schedule or reliability issues (or cost) so I can't say much about model specific experience.

Q

[scatman]

Those prices might be a bit high, but then again it's a Lexus. My 5yr/100k mile extended warranty for my Accord was $1680.00 with bumper to bumper coverage. Read what is and is not being offered very carefully. Find out the history of the car if you can (carfax?). That might help you decide what type of warranty coverage to buy depending how the car was cared for.

[bigred875]

I'd skip it on a Toyota, but I have one for my VW. It's already paid for itself (covering one issue).

i think I would do the same. I also don't think, but could be very wrong, that lexus' are not as expensive as the other luxury brands....i had a 98 es300 and the scheduled maint. the same as the maxima it replaced..

I would do some research on the car for known problems and the company selling the warranty...make sure you will actually be covered.

also take into consideration the dealer...lexus, big used car super store...jonny's used car lot....if jonny's used car lot has it....why? why didn't it go to a lexus dealer? could be a good reason but the good ones usually get scouped by the big dealers..

also, like with bikes...check the maint records...if none...a warranty maybe a good idea...if they are meticulous...maybe skip the warranty

mileage is a consideration as well....if it has around 70k you are probably looking at some big ticket maint. in the near future..

[TheIglu]

Very rarely will you ever get the money you put into the warranty back in work/repairs. That's how they make money.

Degs, you can handle most mechanical stuff yourself. Put the $2k in a sock and enjoy the car for 100k more miles. The day you hit the 100k of ownership, take the $2k out and go on a little vacation.

It's not a VW/Audi, so it shouldn't need $2400 in unscheduled repairs.

EDIT: $2400 for 48k miles? WTF? Seriously? FUCK NO

[Trouble]

I bought one when I bought my truck. Stupid, I know. Except I used it. I paid $1400 for two years of coverage and just had a $2450 repair on the truck that they covered free of charge. The one catch is that the dealership was extremely slow because of the warranty red tape. They had my truck for a month and at no point was I entitled to a free rental. My folks were out of town so I could use thier vehicles so that worked out but it was a bummer to be without my wheels for so long.

[GixerJockey]

Skip it. It's not offered by Toyota which means it will be filled with pitfalls...



Big question...

How many miles does the care have on it right now?

[KRae33]

Make sure you find out who the warranty company is and check it out. Make sure they haven't been reported to the BBB. Try to find reviews on-line and get a feel from other peoples experiences.
Like other people suggested, have faith in the Toyota/Lexus brand. Do you really think that a $2,000 repair will come up in the next 36,000 miles?? I highly doubt it. My car has 169,000 miles on it and I've only spent $400 on parts.

[Degsy]

Car has 70K
One owner (female)
All maintenance done at Lexus dealership (the Audi side of the dealership took the car on trade. They tell us that the Lexus side wanted the car to sell Certified, but they would not let them have it. It is MINT.

I'm going to take Clayton's advice and stuff the money away.

thanks.

[Degsy]

Warranty is by JMA who are a subsidiary of Fidelity.

[Kurlon]

You should be able to get one from Toyota direct for less than that. When I bought my 06 Highlander Hybrid I believe bought the 'used' car warranty from Toyota as it was better than extending the factory warranty, less loopholes/etc. (I'll check my paperwork to verify, got it in the car.) Bumper to Bumper out to 100k/10 years and it didn't cost me $2k. (With all the electronics in this thing, I'm not taking chances.)

[KRae33]

Car has 70K
One owner (female)
All maintenance done at Lexus dealership (the Audi side of the dealership took the car on trade. They tell us that the Lexus side wanted the car to sell Certified, but they would not let them have it. It is MINT.

I'm going to take Clayton's advice and stuff the money away.

thanks.

A female owner?? Uh oh... I'd check the headlight fluid, I bet she never replaced it...

[Degsy]

Here's the car

[GixerJockey]

Car has 70K
One owner (female)
All maintenance done at Lexus dealership (the Audi side of the dealership took the car on trade. They tell us that the Lexus side wanted the car to sell Certified, but they would not let them have it. It is MINT.

I'm going to take Clayton's advice and stuff the money away.

thanks.

Good... Cause I can't imagine a Japanese luxury car needing $2500 in repairs by the time it hits 118,000 miles.

[Degsy]

Good... Cause I can't imagine a Japanese luxury car needing $2500 in repairs by the time it hits 118,000 miles.

Yeah, if i took the warranty I probably still wouldn't get a reply from the dealer when i text him with a problem with the vehicle, would I?

hint hint, check your phone, Noel.

[1/2pint]

what only 1 head rest tv

[Degsy]

yeah. It is in front of where the child seat went. Gotta keep the kids occupied on long trips.

[TheIglu]

We are picking up our new(ish) car tonight. 2007 Outback Limited with 38k on the clock. Our current Subaru has gone nearly 160k without even needing an alternator, ball joint, exhaust, shock, etc. If I have to put $1000 into a car other than brakes and tires by 100k, I don't want it.

Whenever a dealer asks me "Do you want the extended warranty on this vehicle?", the proper response should always be "Do you think I should get it? If so, that shows no confindence on your behalf in the car I'm looking to purchase. I think I'll go elsewhere where they will stand behind the car they are selling. "

[Qfactor]

the awd system is what makes the "aftermarket" warranty so expensive...

FYI

Q

[ThisBitch]

Subsidiary of Fidelity insurance maybe, but not Fidelity Investments.

I got one on my car and it paid for itself at about 90k when the alternator and throttle body went. If it already has 70k, I'd absolutely say go for it!

[virtualbong]

...
Whenever a dealer asks me "Do you want the extended warranty on this vehicle?", the proper response should always be "Do you think I should get it? If so, that shows no confindence on your behalf in the car I'm looking to purchase. I think I'll go elsewhere where they will stand behind the car they are selling. "

Exactly how I feel about that...but Degs, if you are still concerned about the car...do what I did and purchase a used car with a CPO extended warranty.

One more thing..."Bling Bling" Your wife has good taste.

[RandyO]

They tell us that the Lexus side wanted the car to sell Certified, but they would not let them have it. It is MINT.
.

a salesmans ploy to make you think your getting a better deal

its a buyers market

[Degsy]

Wirelessly posted (BlackBerry8330/4.5.0.77 Profile/MIDP-2.0 Configuration/CLDC-1.1 VendorID/105)

Wow. Told the guy we are not interested and waited for a fight. He said "OK, no problem". Nice. Thanks for the advice guys.