Warranty for Lexus (1 Viewer)

[2garfields]

Just got a call from a local Lexus dealer, they want $2340 for the 7y/75k B to B warranty, on the 03 lexus LX470 with 45K mileage, which I may get from another dealer. Does it seem reasonable to you all?

I also told the Lexus dealer that, some Toyota dealers only want $1500 for the same warranty on the similar mileage 03 LC, and then the Lexus dealer said "We use the same book to determine the price."

 

[Jim_Chow]

Just got a call from a local Lexus dealer, they want $2340 for the 7y/75k B to B warranty, on the 03 lexus LX470 with 45K mileage, which I may get from another dealer. Does it seem reasonable to you all?

I also told the Lexus dealer that, some Toyota dealers only want $1500 for the same warranty on the similar mileage 03 LC, and then the Lexus dealer said "We use the same book to determine the price."

If this is on a non-CPO Lexus and if it's the platinum $0 deductible warranty underwritten by Lexus Financial Services (not the dealer and not a third party warranty), it's a good price. I say this because the CPO lexus costs about $1.5-2K more than a non-CPO (dealer has to pay Lexus that much for LFS to certify it plus do the inspections). I extended my CPO from the standard 3 yr/100K to 5 yr/100K for $300 more (list was $1.6K, salesman told me), so that's $2.3K for a 5 yr/100K.

Hint: If you buy the car at the end of the month as I did, you have more negotiating power, as these guys get commissions on a monthly basis and are more willing to move the cars, especially on the last weekend. Manager at the dealer told me if it were the middle of the month, there's no way I would have gotten that good of a deal. I basically got the car for the KBB trade-in price + $2K for the CPO + $1.5K for dealer expenses. Salesman told me on a later date that the dealer ended up losing money on the deal after they paid him the minimum commission.

 

[SWUtah]

Tell them to CPO the LX for you and you will pay $1K for it being a CPO vehicle. It cost me $800 to have my 2004 that the dealer just took in on trade for it to go from non CPO to CPO.

 

[justimaginejack]

My mom just got an RX and I worked on the Finance guy, there is a huge mark up in those things. 70% in some cases. He would not however sell me anything for more than 100K that was backed by Lexus, so check into it. I am not aware the go past 100K Does anyone else have experiance with this. If so i am going to go renegotiate.

 

[Jim_Chow]

My mom just got an RX and I worked on the Finance guy, there is a huge mark up in those things. 70% in some cases. He would not however sell me anything for more than 100K that was backed by Lexus, so check into it. I am not aware the go past 100K Does anyone else have experiance with this. If so i am going to go renegotiate.

I think 100K is the max for toyota and lexus.

 

[LXPearl]

That 7yr/75K sounds like a bad deal. That is a lot of money for only 30K more miles.

Check out the web sites for Lexus and Toyota - they give the info on the extended warranties. There are a variety of years and miles (100K from initial delivery by first owner is the max). The years are for the max since initial delivery.

The CPO warranty helps a used car buyer - it gives 3yr from time of sale to you, or 100K total miles, whichever comes first. Lexus CPO is the Platinum level with $0 deductible.

Look at all the terms - some have $50 deductible and others have $0 ded. The $0 deductible is only $50 more up front.

Toyota certified comes with the powertrain warranty, but you can buy up.

The Lexus CPO will have a base cost of about $800, plus cost of the inspection and any repairs or fixes required. Depending on the condition of the used vehicle when traded in, the dealer may have to put too much into the vehicle to meet CPO and price it out of selling range. Lots of factors involved. Usually, they will work with you if you want CPO on a used vehicle, but expect to pay extra; esp. if it has around 50K miles and 4-5 years old.

 

[Jim_Chow]

As LXPearl says, read the fine print. Notice that the Toyota CPO is only bumper-to-bumper for 3 MONTHS/3000 miles while the lexus CPO is 3 YEARS/100K miles. The lexus warranty doesn't cover rattles/squeaks, but will cover the major stuff that would cost $$$ (AHC, exhaust manifolds, master cylinder, starter, tranny/tcase/diffs, etc). The toyota 70K powertrain would cover the t-case/diffs/trany, but the exhaust manifold is debatable, brake master probably no way, starter--no way, AHC--doubt it.