Should I Buy Lexus Extended Warranty

If you own a Lexus or are considering purchasing one, you are well aware of the durability of the cars. Because Lexus is a part of Toyota, it has access to all of Toyota’s engineering resources. Numerous repair facilities across the United States can operate on Lexus automobiles, and parts are widely available.

Given that drivers spend an average of $551 annually on maintenance and repairs, RepairPal rates the reliability of Lexus cars at 4.0 out of 5.0. Impressive for a luxury manufacturer, Lexus’ average is about $100 less than the average cost across all brands.

Nevertheless, no auto component lasts indefinitely, so a mechanical failure is still a possibility. According to statistics from RepairPal, the following Lexus repairs are possible:

If you intend to drive your Lexus for at least 100,000 miles before selling it, an extended warranty can be worthwhile. Having the extra insurance can assist you in paying for repairs so you can keep using the car for as long as it lasts. Many customers also benefit from the piece of mind that comes with knowing that a variety of repairs are covered and that they don’t need to deal with paperwork or haggle at the shop.

Lexus Factory Warranty Overview

Another thing to think about is your current insurance. An extended warranty for your Lexus is not a wise investment if you don’t intend to keep it after the manufacturer warranty expires.

Several factory-backed warranties are included with all new Lexus vehicles:

  • 10 years/150,000 miles on a hybrid battery
  • 12 years and 12,000 miles of adjustments
  • Warranty for hybrids: 8 years or 100,000 miles
  • 6 years/unlimited miles of corrosion perforation
  • Basic limited warranty: 50,000 miles/4 years
  • 12 months/unlimited miles of parts warranty
  • 4 years/unlimited miles of roadside assistance
  • Warranty on the engine: six years or 70,000 miles

Any other private party that purchases the vehicle is eligible to receive these Lexus warranties as well. There are no fees associated with the automatic transfer.

Lexus Hybrid Warranty

Additionally, Lexus provides good coverage for hybrid cars. The battery voltage sensor, power management control module, and inverter with converter are all components of the hybrid power system. While the battery itself is protected for 10 years or 150,000 miles, it is covered for eight years or 100,000 miles.

Lexus Certified Pre-Owned Warranty

An L/Certified vehicle, commonly referred to as a certified pre-owned (CPO) Lexus, is a cost-effective option if you don’t mind purchasing a used car. If the six years or 70,000 miles remaining on the powertrain warranty, a Lexus may be certified.

All CPO Lexus owners receive an additional two-year certified warranty with unlimited miles in addition to whatever is still covered by the base warranty. The basic warranty for a Lexus is the same as this one.

How much does a Lexus warranty extension cost?

The cost of a Lexus extended warranty, also known as a Car Services Agreement or VSA, varies depending on the region in which you live, the vehicle you want to cover, and the coverage package level you select. On average, though, American drivers may pay between $2,800 and $3,000 for one.

Why never purchase an extended warranty?

While in theory they could be a good idea, extended warranties are frequently expensive and don’t always cover everything that could go wrong.

Additionally, many buyers of extended warranties never utilize them. An extended warranty would then be a cost with no financial benefit. In a Consumer Reports survey, barely a quarter of respondents said they would buy an extended warranty again, and 55% of those who purchased one did not utilize it.

Additionally, among those who made use of their guarantee, the cost of repairs was frequently less than the warranty’s price.

It can make more sense to put aside the cash you would spend on an extended warranty and use it to pay for any necessary repairs rather than buying one.

However, there are a few things you should be aware of before making the decision to purchase an extended warranty, including how it functions, how much it costs, and the benefits and drawbacks of doing so. Furthermore, even though we’ll use the term “extended warranty” since it’s widely accepted, this is not a warranty as that term is used in federal law, and it doesn’t offer the same consumer protections that other warranties do.

Does purchasing an extended warranty make sense?

Extended warranties are often “a lousy value” when it comes to the overall cost of your car, according to Gillis. 55% of consumers who bought an extended warranty in a Consumer Reports poll never used it. Most people who used the guarantee ended up spending more on repairs than they had originally saved.

Additional negatives include:

  • Overlap: If you already have coverage from the manufacturer’s warranty or a mechanical breakdown insurance policy, you may not need the extended warranty. In that situation, Gillis claims that “the additional coverage is not worth the premium.”
  • Limitations: You might need to bring your automobile to a repair facility that has been approved by the warranty instead of choosing your own technician.
  • A percentage of the repair expense may be covered by some extended warranties. The remainder, along with a deductible, is your responsibility.
  • A Consumer Reports poll found that 55% of those who purchased extended warranties never used them.
  • Exclusions: The fine language in every contract outlines how the warranty may be applied. For instance, the provider can refuse to pay for issues brought on by regular wear and tear or lower the claim settlement in light of your car’s depreciation.

Can I revoke my extended warranty on my Lexus?

CANCELLATION. Within 30 days, you can cancel your VSA and receive a complete refund less a $50 processing fee (as permitted by state law). If cancellations are requested more than 30 days after the issue date, they will be prorated. For information on the cancellation procedures in your state, contact your dealer.

What is a Lexus warranty void for?

What is a Lexus warranty void for? If non-original parts are put on the car, the extended warranty coverage is worthless, much as the manufacturer warranty on a new Lexus. Damage from incorrect repairs also voids it.

Cover routine maintenance.

Under normal driving conditions, coverage includes tire rotations, multi-point inspections, oil and filter changes, and any other services listed in the Scheduled Maintenance Log of your Lexus Warranty and Services Guide. 3

Receive personalized service reminders.

Reminders for scheduled maintenance are tailored to your individual driving style. Simply show your Lexus Luxury Care card at your local participating Lexus dealership when it’s time for a visit.

How long do you want to be covered?

While a complimentary service is included with every qualified new Lexus4, Lexus Luxury Care provides additional coverage for a significantly longer period of time, up to 5 years and 90,000 miles (whichever comes first) from the date of first usage. 5

What business does Lexus employ for their extended warranties?

One of the best third-party warranty providers with adaptable choices for Lexus automobiles is CARCHEX.

The wide range of coverage levels offered by CARCHEX, which are simple to research on the company’s website, is one of the company’s main advantages. There are multiple plan possibilities for each level, for a total of 16 contracts.

  • Gold: The best option for vehicles with over 60,000 miles
  • The highest degree of protection, equivalent to a bumper-to-bumper warranty, is titanium.
  • Platinum: Consists of numerous components
  • Powertrain protection in bronze
  • Silver: Includes the key systems.

You can acquire coverage for a maximum of 10 years with any of the coverage levels, with the exception of the Silver and Bronze plans. If you don’t require a lengthy warranty, choose a shorter duration to save money.

To obtain prices for a 2016 Lexus ES 350 with 48,000 miles, our review team called CARCHEX. We received a price for $187.84 for 18 months with a $100 deductible for the Titanium plan, which provides coverage for 7 years and 125,000 miles. We were given an estimate for $182.78 for 18 months with a $100 deductible for the Silver powertrain plan, which provides coverage for 6 years and 100,000 miles.

The business offers a number of flexible payment options, including a no down payment option. You won’t be required to pay anything to the repair facility when you take your vehicle in for repairs. All claims are handled by the company, minus your deductible.

CARCHEX distinguishes itself from other competitors in the field of customer service. The business boasts accreditation and a BBB A+ rating. The CARCHEX customer service employees were helpful and didn’t push us to make a purchase when we contacted with queries. The organization has over 20 years of expertise in the field and is well-versed in its nuances.

You are entitled to a refund if you are dissatisfied with the coverage. A 30-Day Money Back Guarantee is offered by CARCHEX to back up its service and merchandise.

Does the battery fall under the Lexus extended warranty?

Batteries are not covered as part of the Lexus Parts Warranty. Repair or replacement that is required due to a defect in the service part is covered, subject to exclusions.

Is purchasing an extended warranty for a new automobile a wise idea?

“Extended warranties are, in reality, pricey. According to financial expert and radio talk show host Dave Ramsey, that is why individuals sell them because they profit handsomely from commissions. “I never advise purchasing extended warranties. You cannot afford the car if you cannot afford to maintain it.

Ramsey advises owners to establish a repair emergency fund that they can access as needed. And if the money isn’t required for repairs, it can be used to buy the next vehicle.

If you decide to get an extended warranty, keep in mind that you can haggle over the cost just like you did when buying the automobile.

Extended warranties could ease financial strain, especially for owners of devices from dubious brands. They are offered by dealerships, auto clubs, and insurance firms (which sometimes call them mechanical breakdown insurance). The duration, scope, and cost of the plans might all vary. Because aftermarket programs have precise restrictions on what repairs are authorized and where the work can be done, the fine print really does matter.

According to AAA, the optimum time to get protection for newer vehicles is while they are still covered by the original manufacturing warranty. As a result, there is a wider range of extended coverage terms available and the price is kept low.

The finest coverage options for people driving used cars often apply to those with fewer than 80,000 miles on the odometer. The organization advises used-car buyers to take into account their projected time of ownership, annual mileage, and ability to pay for repairs out-of-pocket. The typical claim for AAA is $850.

A vehicle service contract is available through the national auto club that combines warranty defenses with add-on services like battery replacement, travel reimbursements, and rental-car coverage. According to AAA, 30 to 40% of its clients need at least one covered repair.

From a purely mathematical perspective, it makes more sense to forego the protection and concentrate on purchasing and properly maintaining a model with above-average anticipated reliability. Check our reliability ratings before purchasing a new or used car.

If you decide to acquire an extended warranty, make sure to do it from a reputable company, such as an automaker, and read the fine print. With extended warranties, there are frequently a lot of limitations on what is covered and where the car may be serviced.

There are a lot of robocalls promoting extended warranty services. We advise being wary of any unsolicited call that offers this type of security.