Thoughts on Extended Warranty and Lexus Luxury Care Plans? (3 Viewers)

[robbymcg89]

My new GX 550 will arrive next month and I’ve been doing some research on extended warranties (VSAs) and the Lexus Luxury Plan (scheduled maintenance plan). I’d like to get some feedback on what folks think about which (If any) VSA to get for someone who typically puts 18K-20K miles per year on a vehicle. I’d also like any thoughts on whether the Lexus Luxury Plan (pre-paid maintenance plan) is worth it. Thanks.

 

[rangertrace]

I've lost a bunch of money over the years buying extended warranties and selling/trading too early. I'm going to drive this one until I get close to factory warranty expiration and then make the decision if it's worth buying one. I did buy the tire/wheel/paint/glass coverage though.

 

[Bluegill]

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.

 

[robbymcg89]

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.

Thanks! I saw your post on the Club Lexus forum. I almost feel like I need to pay you for all of the research you did on the maintenance plan. Ha! I love a good spreadsheet.

Is Jerry your VSA contact at Midwest Toyota? If so, I got his info on another post and already emailed him and am waiting to hear back. I asked if he also sells the prepaid maintenance plans, but I expect the answer will be no. But it doesn’t hurt to ask.

I’m anticipating that I will go with both the VSA and the prepaid maintenance plan.

 

[S SUBERI]

Extended warranty has never worked for me but the prepaid maintenance always seems to make sense. I believe I got the 5 year package.

 

[leopard print]

It’s a first model year so I opted for the extended warranty. Check out the thread below for prices (post #9). I got my dealership to match the 10yr/100k miles plan. Relatively small price to pay for an extra 6 years of coverage.

Extended Warranty

Looking to find pricing on extended warranties. This is what I’ve been quoted: Additional 3 years/25000 miles which will be like 7 years/75000 miles from the 1st day of purchase, cost is $ 4515.00 Additional 3 years /50000 miles which will be like 7 years/100000 miles from the 1st day of...

www.lexusgxforum.com

 

[Michael T]

I increased the Lexus bumper to bumper warranty to 5 years or 100,000 miles (whichever comes first). It cost me $2600. I put about 20k miles a year so the 5 years should match the 100,000.

A warranty is basically insurance, and just like home or auto insurance, if you never use it, it is a colossal drain on your checking account. Just like insurance, a warranty is a sunk cost. People in luxury cars wouldn’t think to drive it without liability or collision insurance, but insuring the engine for mechanical failures is not worth it (on 1st year at that)?

Im thinking just before 100k miles, i’ll trade in for upgrade so im not driving the vehicle ever outside of warranty. The engine costing over $30k, the center stack with no manual A/C buttons costing $16k, the engine problems in the Tundra and LX600, and it being a first year, were the factors helping make a decision to buy warranty

 

[Runner193]

This is the first new vehicle I have decided to get an extended warranty. I have never been burned for not getting one with other vehicles. My logic was that with this being a first year release along with all the advanced technology I felt it was worth a small percentage of the vehicles value. I plan on keeping this vehicle for 8-10 years and I want it to be a positive owner experience.

 

[jamesnewbern]

It’s a first model year so I opted for the extended warranty. Check out the thread below for prices (post #9). I got my dealership to match the 10yr/100k miles plan. Relatively small price to pay for an extra 6 years of coverage.

Extended Warranty

Looking to find pricing on extended warranties. This is what I’ve been quoted: Additional 3 years/25000 miles which will be like 7 years/75000 miles from the 1st day of purchase, cost is $ 4515.00 Additional 3 years /50000 miles which will be like 7 years/100000 miles from the 1st day of...

www.lexusgxforum.com

I don't see a post #9 for the prices. Please repost the prices. Thanks

 

[leopard print]

I don't see a post #9 for the prices. Please repost the prices. Thanks

Here’s a copy/paste directly from that thread.

Pricing from Troy who has been selling on the Club Lexus forum for years.

Vehicle: 2024 Lexus GX550; (Within 48 months / 50,000 miles).

tdietrich@toyotaofgreenfield.com

Lexus Extra Care, Platinum coverage with $0 deductible:

6 yr / 70K - $1255.00

6 yr / 100K - $1955.00
6 yr / 125K - $2320.00

7 yr / 75K - $1915.00

7 yr / 100K - $2605.00
7 yr / 125K - $3410.00
8 yr / 75K - $2155.00

8 yr / 100K - $3015.00

8 yr / 125K - $4310.00
9 yr / 100K - $3455.00
9 yr / 125K - $4840.00

10 yr / 100K - $3750.00
10 yr / 125K - $5270.00

 

[Bluegill]

Thanks! I saw your post on the Club Lexus forum. I almost feel like I need to pay you for all of the research you did on the maintenance plan. Ha! I love a good spreadsheet.

Is Jerry your VSA contact at Midwest Toyota? If so, I got his info on another post and already emailed him and am waiting to hear back. I asked if he also sells the prepaid maintenance plans, but I expect the answer will be no. But it doesn’t hurt to ask.

I’m anticipating that I will go with both the VSA and the prepaid maintenance plan.

Hello, yes, Jerry is my contact. He seems to go quiet for a bit and then come back with a flurry of activity. I forgot that I posted that spreadsheet - I think I posted it here and it must have made its way over to another forum.

 

[Zoom650]

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

 

[deadlikeme]

Does any one know what happens with the prepaid maintenance and extended if you sell or total the car?

 

[Zoom650]

Does any one know what happens with the prepaid maintenance and extended if you sell or total the car?

If you sell, trade your vehicle, or simply want to terminate your warranty, the unamortized balance can either be applied to the new purchase or refunded. My warranty was through my Toyota dealer, so that is who I dealt with on a traded 4Runner and a Rav4.

My former Rav4, I sold to a private party and the balance of the warranty was not transferrable and needed to be refunded.

 

[Bluegill]

I believe both of my packages (extended warranty & maintenance plan) are transferable one time to a new owner.

I don't know what happens if you total the vehicle. I never thought about that. I suppose the unused portion could be applied to the replacement vehicle as Zoom650 mentioned above.

 

[Zoom650]

I believe both of my packages (extended warranty & maintenance plan) are transferable one time to a new owner.

I don't know what happens if you total the vehicle. I never thought about that. I suppose the unused portion could be applied to the replacement vehicle as Zoom650 mentioned above.

My warranty document said it was transferrable to another owner, but when I went to the dealership, they said not and gave me a form to file for a refund. It was prompt.

 

[Klint]

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.

I got the extended warranty 10/100k for $3750. It is fully transferable to your new vehicle or to a person if you sell it. I figure I’ll keep it for 10 years so why not protect myself for 3k.

 

[vraa]

I did the 3750$ as well, because these cars have turbos

Fuck the EPA

 

[zpaul4]

My new GX 550 will arrive next month and I’ve been doing some research on extended warranties (VSAs) and the Lexus Luxury Plan (scheduled maintenance plan). I’d like to get some feedback on what folks think about which (If any) VSA to get for someone who typically puts 18K-20K miles per year on a vehicle. I’d also like any thoughts on whether the Lexus Luxury Plan (pre-paid maintenance plan) is worth it. Thanks.

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.

 

[DKisler]

My new GX 550 will arrive next month and I’ve been doing some research on extended warranties (VSAs) and the Lexus Luxury Plan (scheduled maintenance plan). I’d like to get some feedback on what folks think about which (If any) VSA to get for someone who typically puts 18K-20K miles per year on a vehicle. I’d also like any thoughts on whether the Lexus Luxury Plan (pre-paid maintenance plan) is worth it. Thanks.

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.