Thoughts on Extended Warranty and Lexus Luxury Care Plans?

[vraa]

I put in my vin, they said 3134$ for the 10 year 100k 100$ deductible

Here is what claude summarized

Let me compare these two vehicle service contracts:

Key Differences:

1. Provider and Network

• Lexus Extra Care is directly from Lexus Financial Services and requires repairs at Lexus dealerships
• The Fair warranty allows repairs at any licensed repair facility
• Lexus uses factory-trained technicians and Lexus-approved parts
• Fair allows remanufactured or used parts of "like kind and quality"

2. Coverage Start and Eligibility

• Fair has a 30-day/1,000-mile waiting period (unless waived with paid option)
• Lexus coverage starts immediately
• Lexus has clearer eligibility requirements:

* New vehicles: Less than 4 years old and under 50,000 miles
* Used vehicles: Current year plus 9 prior years, up to 125,000 miles

3. Additional Benefits
Lexus offers more generous benefits:

• Rental: Up to $50/day (vs Fair's $30/day)
• Trip interruption: Up to $100/day for 5 days (vs Fair's 3 days)
• More comprehensive roadside assistance through AAA

4. Transferability

• Lexus: One free transfer to private party
• Fair: One transfer allowed for $50 fee

5. Coverage Differences

• Lexus provides more detailed component coverage listings
• Lexus explicitly covers many electronic components and computers
• Lexus has clearer coverage for hybrid/alternative fuel vehicles
• Fair has a coverage limit of NADA value or $5,000, while Lexus doesn't specify such a limit

6. Administration

• Lexus's process appears more streamlined through dealerships
• Fair requires pre-authorization and more documentation for repairs
• Fair has stricter maintenance documentation requirements

In general, the Lexus Extra Care plan is more comprehensive and integrated with Lexus's dealer network, while the Fair contract offers more flexibility in repair locations but with more restrictions and lower coverage limits. The Lexus plan would likely provide a more seamless experience but potentially at a higher cost.

 

[robbymcg89]

To to CarEdge.com. you will save thousands over Lexus extended warranty by a top rated BBB company. The extended warranty was under 2000 this summer when I checked.

Thanks! Is there any disadvantage to purchasing from a warranty provider not associated with Lexus/Toyota?

 

[robbymcg89]

Contact Jerry Johnson at Midwest Toyota in Kansas (I think). He can sell a Lexus platinum warranty at substantially reduces pricing. I got an 8 year 125,000 platinum Lexus warranty for about $2,900. Good at any lexus dealer.

Thanks! I emailed Jerry a week ago but haven’t heard back from him yet.

 

[deadlikeme]

Thanks! Is there any disadvantage to purchasing from a warranty provider not associated with Lexus/Toyota?

Likely, it depends. I think 3rd party warranties often do not require OEM parts if there is a cheaper option and may require third party repair centers versus a dealership.

 

[Koopa253]

Warranties in general worry me and 3rd party ones scare me even more. Can these 3rd party warranties be used at dealerships? Anyone ran into issues? Just wondering watch they catch is with them being near 40% cheaper than extended factory warranties.

 

[JustinB]

I wish I would’ve thought of this before I was in the process of making my decision a few months ago. I got an extra 4 years 50K miles (8 yr 100k total) for $3500. Looks like I could’ve saved $500 or more working with a different dealership for the warranty plan.

While I trust this truck will go the distance, I figured with the twin turbo engine, complicated climate control, and various other electromechanical components, I could see needing the warranty down the road.

 

[leopard print]

I wish I would’ve thought of this before I was in the process of making my decision a few months ago. I got an extra 4 years 50K miles (8 yr 100k total) for $3500. Looks like I could’ve saved $500 or more working with a different dealership for the warranty plan.

While I trust this truck will go the distance, I figured with the twin turbo engine, complicated climate control, and various other electromechanical components, I could see needing the warranty down the road.

I believe you could cancel the warranty you currently have then repurchase. The repurchase just won’t be rolled into your loan if you have one.

 

[Bluegill]

You can cancel. You obviously haven't touched the extended warranty yet. I cancelled the extended warranty I bought from my local Arizona dealer and bought the same warranty (for $1800 less) from Jerry. I received a full refund.

 

[Bluegill]

Third party warranty? You get what you pay for......just assume your new full time job will be getting the warranty to pay for something if you ever need it. I've bought used cars with third party warranties and they were worthless.