Likely expenses…considering warranty?

[dstewart3ss]

TLDR: do you think I’ll spend more than $4k in repairs/maintenance (excl. wear items like brakes/tires) by the time I hit 120k miles if I’m current at 54k? Two young kids so I don’t wrench myself, but also don’t take to Lexus - have some good local Toyota techs.

Just bought a ‘21 GX w/ 54k miles. Includes a high tech bumper to bumper for 1 year and limited powertrain thru 100k miles. This is Hendrick certification not Lexus. They are dominant player in CLT market and very reputable.

I’m able to get an extended warranty that would take me thru 2030 or 120k miles and it essentially covers everything on the car including rubber seals and gaskets, suspension bushings, etc. Costs me $4k.

I’m essentially covered the first year already where we’ll prob get to 70k miles…so from 70k to 120k how likely am I to spend $4k on something above and beyond a fairly limited powertrain coverage and obviously not wear and tear stuff like brakes/tires?

I realize not all warranties are equal and certainly pricing is not so don’t want to debate good vs bad warranties here.

I’ve had older GX just not as familiar with the newer ones 2020+. Currently have a ‘05 470 w/ 79k

Thanks!

 

[GrizzlyClint]

Not likely. Even with the valley plate issue you do not likely have (2010 to maybe early 2015) I've barely spent $4k in almost 5 years not including tires or brakes. And that is taking into consideration that I have a 2010 and have had 134-193k miles on the clock during that time. Your 2021 will likely see almost zero in large service repairs if it is regularly maintained and not beat on. Oil changes, trans fluid flushes, axles greased, other fluids changed (diff, etc), coolant flushes and using proper factory recommendations of those are important. The alternator, radiator, belts, hoses, and spark plugs are your likely service items between 50k and 120-130k miles. All that combined won't equal $4k.

 

[dstewart3ss]

Not likely. Even with the valley plate issue you do not likely have (2010 to maybe early 2015) I've barely spent $4k in almost 5 years not including tires or brakes. And that is taking into consideration that I have a 2010 and have had 134-193k miles on the clock during that time. Your 2021 will likely see almost zero in large service repairs if it is regularly maintained and not beat on. Oil changes, trans fluid flushes, axles greased, other fluids changed (diff, etc), coolant flushes and using proper factory recommendations of those are important. The alternator, radiator, belts, hoses, and spark plugs are your likely service items between 50k and 120-130k miles. All that combined won't equal $4k.

Great feedback, thanks. About what mileage are you all seeing suspension and steering components needing new rubber or complete replace? Thinking things like tie rods, controls arms, CV joints…assuming on road use only - this is my wife’s.

 

[xychromosome]

Likely repairs in that timeframe and mileage would be water pump, radiator and valley plate

Great feedback, thanks. About what mileage are you all seeing suspension and steering components needing new rubber or complete replace? Thinking things like tie rods, controls arms, CV joints…assuming on road use only - this is my wife’s.

well over 100k miles. I'm at 120k and haven't had to replace any bushings yet and I do a combo of on and off-road driving. I do have a rattle in my steering column that will eventually require attention, but it's not an immediate concern.

 

[r2m]

No vehicle manufacturer is 100% reliable.
My opinion is that with domestic vehicles: 90% may get to just over 100,000 miles with only minor repairs, and maybe 10% reaching that 250,000 plus mileage.
Toyota products: 95% will make way over 250,000 miles with only minor repairs, and probably less than 5% will have issues, like trans, valley leaks, etc.
in just over 100,000 miles.
So, how confident do you feel about your rig?
Any time we've ever purchased a used vehicle, we have a great independent mechanic, for about $100.00 will do a very thorough exam of the vehicle on everything, from engine compression, to light bulbs. If he says it's good we feel good with the purchase.
Is one of your independent mechanics someone you can have do that?

 

[Rednexus]

9 times out of 10, you're better off to take the $4K and stick it in an interest-bearing account. Assuming it takes you 5 years to 120K on the rig and you get 4% return (my bank has 1-year CDs right now at just over 4%), you'll have $4,900 to use on something else at Year 5 if you don't have any repairs. If you do have repairs, you can pay yourself back each time you renew the 1-year CD.

IMO extended warranties are usually a pretty poor investment, unless they are a small monthly payment as opposed to a big up-front, lump-sum payment. The house always wins, after all. If the extended warranties were actually saving folks money relative to the scenario I listed above, the warranty companies would be going out of business.

 

[GrizzlyClint]

Great feedback, thanks. About what mileage are you all seeing suspension and steering components needing new rubber or complete replace? Thinking things like tie rods, controls arms, CV joints…assuming on road use only - this is my wife’s.

Surprisingly I'm still on all my original suspension and steering components. My bushings aren't cracked and there is no movement on anything, all is still tight as a drum. My factory shocks are also not leaking. Having said this it'll only be a matter of time before replacement I know, but overall I'm thrilled at what I've been able to get out of the factory components. I've offroaded it a lot during the time I've owned it, but before i got it there was a decade of highway and city use only. Perhaps that helped keep these components fresher? No idea.

 

[ericm979]

IMO extended warranties are usually a pretty poor investment, unless they are a small monthly payment as opposed to a big up-front, lump-sum payment. The house always wins, after all. If the extended warranties were actually saving folks money relative to the scenario I listed above, the warranty companies would be going out of business.

This. I never buy extended warranties, and in 45 years of owning vehicles I have never regretted it. Of course for some of that I was too poor to afford a warranty, and for most of the rest I had enough cushion to afford to pay for major repairs... which after something like 50 vehicles (most bought used and a lot of motorcycles) I have yet to need to do.

Half the price of the extended warranty is pure profit to the people selling it. Most of the warranty companies try to find ways to deny claims, like health insurance companies do now. So you get a lot less value than they want you to think.

'21s have the valley plate issue?

 

[dstewart3ss]

Sounds like general consensus thus far is there’s a better chance that I don’t have major repairs that would push me over $4k by the time I hit 120k miles.

By buying the extended warranty, the finance mgr was willing to buy down my loan rate 1% which was important to me…so overall, I get a 1% lower rate and the warranty to 120k for about an extra ~$50 per month. So in reality, I’m actually getting the extended warranty for ~$3,500 in total.

Curious if anyone has experience on the other side of the fence where they’ve had $$$ repairs prior to 120k miles and wishes they would’ve bought a warranty?? I generally agree with the comments that more times than not the house comes out better than the buyer otherwise they wouldn’t push them. At this point, I have 60 days to decide to cancel the warranty and I get 100% of my money back…..so that’s what I’m contemplating. After that I can still cancel, it’s just prorated.

 

[Rednexus]

Sounds like general consensus thus far is there’s a better chance that I don’t have major repairs that would push me over $4k by the time I hit 120k miles.

By buying the extended warranty, the finance mgr was willing to buy down my loan rate 1% which was important to me…so overall, I get a 1% lower rate and the warranty to 120k for about an extra ~$50 per month. So in reality, I’m actually getting the extended warranty for ~$3,500 in total.

Curious if anyone has experience on the other side of the fence where they’ve had $$$ repairs prior to 120k miles and wishes they would’ve bought a warranty?? I generally agree with the comments that more times than not the house comes out better than the buyer otherwise they wouldn’t push them. At this point, I have 60 days to decide to cancel the warranty and I get 100% of my money back…..so that’s what I’m contemplating. After that I can still cancel, it’s just prorated.

IMO they are still a bad buy at $3,500 vs. $4,000, and would only fall into the "maybe" good buy for a GX460 if they were priced closer to $2,000 and had some really good terms from a warranty company with a good reputation.

If you are going to buy the rig and have enough budget for the payment with the extended warranty, I'd skip the warranty coverage in invest the $50/month extra you'd be paying for it instead. If you don't spend any of it, you'd have $4075 at Month 72 assuming 4% return (you could also dump it in a Roth IRA - mine has done closer to 10% since inception and contributions can be taken out tax-free). And if you need the repairs, you could just pay for them out of the money you didn't give to the car dealer.

I personally can't see a GX460 needing $4,075 in repairs over that period unless it's an absolute lemon. However it might need $4,075 in repairs and maintenance (tires, brake pads, filters, fluids, etc).

 

[r2m]

IMO they are still a bad buy at $3,500 vs. $4,000, and would only fall into the "maybe" good buy for a GX460 if they were priced closer to $2,000 and had some really good terms from a warranty company with a good reputation.

If you are going to buy the rig and have enough budget for the payment with the extended warranty, I'd skip the warranty coverage in invest the $50/month extra you'd be paying for it instead. If you don't spend any of it, you'd have $4075 at Month 72 assuming 4% return (you could also dump it in a Roth IRA - mine has done closer to 10% since inception and contributions can be taken out tax-free). And if you need the repairs, you could just pay for them out of the money you didn't give to the car dealer.

I personally can't see a GX460 needing $4,075 in repairs over that period unless it's an absolute lemon. However it might need $4,075 in repairs and maintenance (tires, brake pads, filters, fluids, etc).

Absolutely, especially if you're the type of person that usually like to keep a small emergency fund stuffed away somewhere collecting interest. Save the money and not get it.
Gotta ask again, have you had a thorough inspection done on it? This is the kicker if you need/want a warranty or not.

 

[dstewart3ss]

Absolutely, especially if you're the type of person that usually like to keep a small emergency fund stuffed away somewhere collecting interest. Save the money and not get it.
Gotta ask again, have you had a thorough inspection done on it? This is the kicker if you need/want a warranty or not.

I haven’t taken it to an independent mechanic for an inspection. I looked it over thoroughly before purchasing and know these trucks fairly well - at least some of the obvious things to look for at the “surface”. The dealer sold it as a certified vehicle where it’s covered for 12 months bumper to bumper. They arent likely going to sell something as certified that has an issue but even if they were, I’ll find out soon and have it repaired under warranty. It has low mileage, been dealer serviced since new and smells and looks new inside and out.

Based on the feedback thus far, I’m leaning towards canceling the warranty and refinancing to a lower rate.

 

[TexomaPowerboater]

I'd get the warranty, my wife is tuff on her cars. Excessive braking and take offs. She downloaded some kind of driving app other day and it told her she was the one of the worst drivers in the program So now it's like catybar the door with the driving jokes and there is no arguing - she knows. Between a daily woman driver and a weekend off road warrior I'd say it's going to get more wear and tear than most.

 

[GrizzlyClint]

I'd get the warranty, my wife is tuff on her cars. Excessive braking and take offs. She downloaded some kind of driving app other day and it told her she was the one of the worst drivers in the program So now it's like catybar the door with the driving jokes and there is no arguing - she knows. Between a daily woman driver and a weekend off road warrior I'd say it's going to get more wear and tear than most.

On another completely unrelated note, my wife grew up in Mansfield. Still has family there.

 

[Hiluxforever]

My radiator was at around 120k and was 1500. My valley plate and timing cover was at 130k was 5500.

 

[dstewart3ss]

My radiator was at around 120k and was 1500. My valley plate and timing cover was at 130k was 5500.

I fully would plan to do radiator at or before 120k. Think I’ve seen valley plate issue is only on certain years….any ‘21s with it? I’m familiar with the issue as I had it on an older LX570 I owned several years ago.

Not familiar with the timing cover job - what’s that entail!? 5500 is steep as I’d assume about 1500 of that is for valley plate.

 

[dstewart3ss]

I'd get the warranty, my wife is tuff on her cars. Excessive braking and take offs. She downloaded some kind of driving app other day and it told her she was the one of the worst drivers in the program So now it's like catybar the door with the driving jokes and there is no arguing - she knows. Between a daily woman driver and a weekend off road warrior I'd say it's going to get more wear and tear than most.

Actually glad to hear there’s at least one on the side of getting the warranty. Prob gotta see some other compelling arguments on this side before I decide I want to keep it though

 

[Hiluxforever]

I fully would plan to do radiator at or before 120k. Think I’ve seen valley plate issue is only on certain years….any ‘21s with it? I’m familiar with the issue as I had it on an older LX570 I owned several years ago.

Not familiar with the timing cover job - what’s that entail!? 5500 is steep as I’d assume about 1500 of that is for valley plate.

All years are susceptible to timing cover and valley plate issues. All vehicles with the UR motor have it. Some have had to do it multiple times. The 3UR also gets leaky cam towers and valve cover gaskets, so that's something we don't have to worry about.

 

[Cold Iron]

I fully would plan to do radiator at or before 120k. Think I’ve seen valley plate issue is only on certain years….any ‘21s with it? I’m familiar with the issue as I had it on an older LX570 I owned several years ago.

Not familiar with the timing cover job - what’s that entail!? 5500 is steep as I’d assume about 1500 of that is for valley plate.

I'm at 50K with my 19 and put on about 10-12K a year. At 80-90K max I will do a complete waterside replacement. Yesterday had a complete engine coolant flush, tranny drain and fill and transmission cooler installed. Quite a few have had issues with the transmission especially in warmer climates or heavy city traffic with a lot of stop and go. But that seems to start around 120K with most closer to 150k+ miles. A lot of posts on FB from people saying they wish they would had an extended warranty but at that high mileage imagine it would be pretty spendy.

Valley plate leak seems to be based as much on time plus number of heat & cooling cycles. Someone posted somewhere that worked at the Alabama plant (IIRC) and that in 2015 the FIPG was changed. But there are reports of 2016 coming in with valley plate leaks. I'm not counting it out no matter what the year, time will tell.

Personally I passed on extended warranty even knowing that I will have quite a layout coming up in a few years. I'm in the camp that says save for the known expense down the road just like a home warranty. Although I did have one of those for 2 years when I knew the boiler was going out on the furnace and the AC was more than 24 years old. Right or wrong it paid for both, somewhere around $20K then I cancelled it. But that was a unique situation.

Even knowing there are going to be waterside issues with the water pump and radiator I'm going with personally saving for it. If the Valley Plate leak shows up then I may wish that I had an extended warranty but even then it would be a break even proposition. And hate dealing with insurance\warranty companies I would rather have control of the situation personally. Hendrick does have a good reputation however.

Realize that isn't much help to you, it really does come down to a personal decision. At least IMO.

 

[dstewart3ss]

I'm at 50K with my 19 and put on about 10-12K a year. At 80-90K max I will do a complete waterside replacement. Yesterday had a complete engine coolant flush, tranny drain and fill and transmission cooler installed. Quite a few have had issues with the transmission especially in warmer climates or heavy city traffic with a lot of stop and go. But that seems to start around 120K with most closer to 150k+ miles. A lot of posts on FB from people saying they wish they would had an extended warranty but at that high mileage imagine it would be pretty spendy.

Valley plate leak seems to be based as much on time plus number of heat & cooling cycles. Someone posted somewhere that worked at the Alabama plant (IIRC) and that in 2015 the FIPG was changed. But there are reports of 2016 coming in with valley plate leaks. I'm not counting it out no matter what the year, time will tell.

Personally I passed on extended warranty even knowing that I will have quite a layout coming up in a few years. I'm in the camp that says save for the known expense down the road just like a home warranty. Although I did have one of those for 2 years when I knew the boiler was going out on the furnace and the AC was more than 24 years old. Right or wrong it paid for both, somewhere around $20K then I cancelled it. But that was a unique situation.

Even knowing there are going to be waterside issues with the water pump and radiator I'm going with personally saving for it. If the Valley Plate leak shows up then I may wish that I had an extended warranty but even then it would be a break even proposition. And hate dealing with insurance\warranty companies I would rather have control of the situation personally. Hendrick does have a good reputation however.

Realize that isn't much help to you, it really does come down to a personal decision. At least IMO.

This is a great help, thanks for the detailed reply. While I do think the extended warranty would cover me if my radiator and/or water pump went out and if the valley plate leak occurred, it’s not going to cover all of the preventative stuff that you mention wanting to do soon, fluid changes, stuff like that. Also, i think it will only cover a new radiator if mine fails for some reason, it won’t cover a new one if I just want to replace it due to age/mileage.

It seems like my risk before 120k miles is mainly with radiator/WP and valley plate. If I had to do both of those, I’m probably less out of pocket than the warranty cost. So I still toward cancelling the warranty.

How often are folks have weird electrical gremlins or issues with the more high tech stuff on these? Also, little stuff like door lock actuators/sunroof function/window motors….people seeing issues with these before 120k??