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.

 

[valfor99]

I originally bought the Lexus Platinum Warranty from Lexus when I bought the truck. I paid $4405 for an additional 3 years and/or an additional 50,000 miles for the full warranty (whichever comes first). This takes me out to 7 years and/or 100,000 miles of full warranty. Then shortly after purchasing, a friend of mine referred me to a guy at Midwest Toyota in Kansas that sells the same warranties at a much better price. I bought the exact same warranty from this guy at Midwest Toyota for $2,605. I "returned" the original warranty to Lexus and received an exact $4405 credit on my finance package. I can give you this guy's contact info if you'd like. I've passed his info on to about a dozen people already.

I also bought the Lexus Luxury Care Premium Prepaid Maintenance Plan. I chose to pre-pay maintenance through 75,000 miles and/or 6 years (whichever comes first). I bought this through my Lexus dealership when I bought the truck. I paid $3795 for the maintenance plan. I forecast that the maintenance costs in the Lexus-specified 5,000-mile intervals will cost about $7500-$8000 in 2024 dollars (more in real dollars at the time of payment in future years). So shelling out $3795 now to cover $7500 or more in required maintenance made sense to me.

This is a work truck for my company which I wholly own so the write-off for 2024 should be fantastic. I paid off the loan last month.

Could you provide the contact info for the extended warranty?

 

[JoeRob]

I bought both extended warranty and prepaid service for 8 years/75,000 miles and included it in my financing.

So, Zoom - what did the warranty and service cost? If you would please, Thanks.

 

[Bluegill]

Could you provide the contact info for the extended warranty?

Sure thing, here you go!

Jerry Johnson
Warranty Manager
Midwest Toyota
Midwest Ford
Midwest Superstore
1100 east 30th
Hutchinson, Ks 67502
Phone 800-530-5789
Cell 620-664-8844
jerryj@midwestsuperstore.com

 

[vraa]

Sure thing, here you go!

Jerry Johnson
Warranty Manager
Midwest Toyota
Midwest Ford
Midwest Superstore
1100 east 30th
Hutchinson, Ks 67502
Phone 800-530-5789
Cell 620-664-8844
jerryj@midwestsuperstore.com

This is whom I used as well

 

[serbiansizzle]

Just curious how long until purchasing the vehicle do you have to buy the extended warranty and pre-paid maintenance? I believe that my first 2 visits to the dealer are covered but I am thinking about going for the pre-paid maint package as it probably will save me some money.

 

[Bluegill]

I'd think you have until your standard warranty runs out to buy an extended warranty, but it will be more expensive the longer you wait.

Regarding the pre-paid maintenance program, I paid $3795 for pre-paid maintenance through 6 years or 75,000 miles. I'll definitely hit the 75,000 mile mark before 6 years. Since maintenance is fixed at 5,000-mile intervals, you'll realize all those maintenance expenses regardless of timing. I added up all those 5,000-mile services through 75,000 miles and I came up with $9500 (there was some estimating but I was conservative...I also figured it all in 2024 dollars).

So, I spent $3795 in 2024 for what will add up to about $9500 in service (all in 2024 dollars).

 

[valfor99]

Sure thing, here you go!

Jerry Johnson
Warranty Manager
Midwest Toyota
Midwest Ford
Midwest Superstore
1100 east 30th
Hutchinson, Ks 67502
Phone 800-530-5789
Cell 620-664-8844
jerryj@midwestsuperstore.com

Thank You

 

[Inlinefor2025OT+]

I'd think you have until your standard warranty runs out to buy an extended warranty, but it will be more expensive the longer you wait.

Regarding the pre-paid maintenance program, I paid $3795 for pre-paid maintenance through 6 years or 75,000 miles. I'll definitely hit the 75,000 mile mark before 6 years. Since maintenance is fixed at 5,000-mile intervals, you'll realize all those maintenance expenses regardless of timing. I added up all those 5,000-mile services through 75,000 miles and I came up with $9500 (there was some estimating but I was conservative...I also figured it all in 2024 dollars).

So, I spent $3795 in 2024 for what will add up to about $9500 in service (all in 2024 dollars).

Curious where you got the ~$600 average for each 5K maintenance service? Is that something Lexus publishes? From what I hear, maintenance on a Lexus is expensive. I drive less than 5K annually and that was when I had just one vehicle (4Runner). I recently sold it to buy a used basic Tacoma SR5 to pair with my new GX (still waiting). After I reach the 6 year power train warranty, I probably won’t have more than 20K miles on the GX. After the 4 year basic warranty, it’ll probably be only around 12-13K miles. I have to think through it but under my circumstances not sure if I need to buy the extended warranty plan. What would you guys do if you were me? Thanks for the post and info. Very helpful and does get me thinking.

 

[serbiansizzle]

Curious where you got the ~$600 average for each 5K maintenance service. Is that something Lexus publishes? From what I hear, maintenance on a Lexus is expensive. I drive less than 5K annually and that was when I had just one vehicle (4Runner). I recently sold it to buy a used basic Tacoma SR5 to pair with my new GX (still waiting). After I reach the 6-year power train warranty, I probably won’t have more than 20K miles on the GX. After the 4-year basic warranty, it’ll probably be only around 12-13K miles. I have to think through it but under my circumstances not sure if I need to buy the extended warranty plan. What would you guys do if you were me? Thanks for the post and info. Very helpful and does get me thinking.

Seemingly it's one of those "damned if you do, damned if you don't" scenarios. I come from Toyotas where I never purchased any plans or warranties but what has me worried is the sheer amount of tech this vehicle has. The screen alone is giving me anxiety if it goes out.

Your service intervals would still follow time or mileage so it wouldn't change much for you if you went to Lexus to service your vehicle. We drive less than 10k a year so I would still be following the services provided at 6 months/5,000 miles and 12 months/10,000 miles, whichever comes first.

If I were in your shoes, I would get one of those low mileage plans for $1,300 - $2,100 and the pre-paid maintenance:

6 yr / 70K - $1255.00
7 yr / 75K - $1915.00
8 yr / 75K - $2155.00

Alternatively, I would probably rather get the pre-paid maintenance plan over the extended warranty if you're driving like 5k miles a year. At that point, at the end of your powertrain warranty, your vehicle will be worth a lot as a trade/private sell, and they'd probably care more about the maintenance that was done to it.

 

[Inlinefor2025OT+]

Seemingly it's one of those "damned if you do, damned if you don't" scenarios. I come from Toyotas where I never purchased any plans or warranties but what has me worried is the sheer amount of tech this vehicle has. The screen alone is giving me anxiety if it goes out.

Your service intervals would still follow time or mileage so it wouldn't change much for you if you went to Lexus to service your vehicle. We drive less than 10k a year so I would still be following the services provided at 6 months/5,000 miles and 12 months/10,000 miles, whichever comes first.

If I were in your shoes, I would get one of those low mileage plans for $1,300 - $2,100 and the pre-paid maintenance:

6 yr / 70K - $1255.00
7 yr / 75K - $1915.00
8 yr / 75K - $2155.00

Alternatively, I would probably rather get the pre-paid maintenance plan over the extended warranty if you're driving like 5k miles a year. At that point, at the end of your powertrain warranty, your vehicle will be worth a lot as a trade/private sell, and they'd probably care more about the maintenance that was done to it.

You’re awesome. I like that suggestion to go with a low miles prepaid maintenance plan. Are those prices what you quoted above $1300-$2200? Do the prepaid maintenance plans cover the 5K/6 months interval maintenance cost fully?

 

[deadlikeme]

Curious where you got the ~$600 average for each 5K maintenance service? Is that something Lexus publishes? From what I hear, maintenance on a Lexus is expensive. I drive less than 5K annually and that was when I had just one vehicle (4Runner). I recently sold it to buy a used basic Tacoma SR5 to pair with my new GX (still waiting). After I reach the 6 year power train warranty, I probably won’t have more than 20K miles on the GX. After the 4 year basic warranty, it’ll probably be only around 12-13K miles. I have to think through it but under my circumstances not sure if I need to buy the extended warranty plan. What would you guys do if you were me? Thanks for the post and info. Very helpful and does get me thinking.

If it was me, I would put the extended warranty money in a money market account and let it sit for 4 years. That low of miles you are unlikely to benefit from the warranty unless you highly prioritize cost certainty. I would also consider an alternative maintenance cycle that isn't time based. I believe Blackstone, if you send them a sample of your motor oil will give recommendations on oil changed based on the decomposition of the oil versus generalized time/mileage estimates. If I put 5000mi at elevation in the summer towing 3000lbs, it isn't the same as 5000mi at sea level driving smooth country roads. If you are more risk adverse and have the money, ignore this advice.