Advice Regarding Cost Of Warranties

[SDL01]

Another newbie here, but in need of a bit of advice.

I am about to say yes to financing a 2 yr old IS200 through a dealership on a 3 yr finance package.

But i have been told the warranty for the 3 years is going to be just under £1000. Thing is i assume there is still approx 2 years left on the original manufacturers warranty, therefore nearly a grand for the third year of the finance agreement seems to me to be either excessive or they expect the car to develop a fairly major problem in what will be the cars 5th year.

Can anybody give me a bit of advice whether i should tell the dealership i want the original manufacturers warranty to run out then get my own warranty from somewhere else, or should i go ahead with the quoted figure.

Any help is much appreciated.

[chips229]

Hi and Welcome to LOC :)

Its just my option but ive found extra warranty a waste of money.If you read the small print the new parts are only covered if there broken if parts are shown to be worn out you cover the cost of the new parts.

You will find that any parts are more,if not always found to be worn out ;)

Im sure others will be along with more options and advice.

Good Luck with buying the car.

Cheers..

Chips.

[Rikos]

I think £1000 for 1 years warranty is an absolute rip off.

I would look for yuor own warranty after the manufacturers one runs out.

[SDL01]

Thanks for the replies, i kinda thought i was being taken for a ride. Will update when i get the vroom vroom.

[spikes]

hi welcome to loc :)

[mudzs]

AA waranty is cheap and covers quite a bit .worth a look.

[SDL01]

AA waranty is cheap and covers quite a bit .worth a look.

quick update, i made a slight error in my assumption that i would get 2 years manufacturers warranty, in fact it is only a year as its a used car, therefore making the warranty just under £500 for each year, this is still a lot in my opinion, after mentioning this to the finance man i was offered 2 years warranty for the price of one. RESULT. Even though i won't be taking any other warranty out until the first year has expired - after all whats the point in paying for something you do not need yet.

Also pick up my little beauty this coming saturday morning.

[Ian M]

Hi, and welcome to LOC. The manufacturer’s warranty is indeed 3 years. I collected my car yesterday. It will have its 3rd birthday in October but the dealer, Lexus Derby, has extended the manufacturer’s warranty until next May to give me a full year of cover. They did give me the hard sell on further warranty extension, but I have not gone with it. After a year of Lexus ownership, I shall consider what to do next but something which does so well in the JD Power surveys shouldn’t need much extra attention.

[Rikos]

Glad you got it all sorted mate but hopefully you wont be needing to use it anyway :D