Hi Scotty! Question. I have a 2012 Lexus is-250. 107K. Tranny replaced at 80k under warranty. I am religious about synthetic oil changes every 5k at the dealership. I mainly now use this as my weekend car. I use an 06 Camry as my commuter car. Since the warranty ran out , I have been using carshield for 99.00 a month. Am I wasting my money? I probably only put 2k a year on the car now. Never had a check engine light since I bought it 3 years ago.
At $1200 a year, $6000 by the time you drive it 10,000 more miles? That would have to be an exceptionally trouble-prone car for that to work out in your favor. If you were putting 15 -20 k on it each year, it might make more sense. I'd put that money in a savings account instead, then I'd have some bucks for all the things that aren't covered by Carshield, like new tires or my next daily driver.
It's a waste of money, Carshield is a total scam. There's a good chance they'll weasel out of paying even if repairs are needed.
If you instead put that nearly $100/month into a fund in several years you'd have money set aside for even major repairs. If those repairs are never needed you pocket the money as savings. With Carshield you may as well be doing this:
Yeah I would drop that coverage ASAP.
If that had been the original manufacturer’s OEM extended warranty, that is one thing (and they still could find a way out of warranty claims), but with a 3rd party warranty company and especially Carshield who ranks amongst the worst out there - forget it! See below:
https://carkiller.com/scottykilmer/qa/is-carshield-worth-it/#post-46519
Waste of money
If that had been the original manufacturer’s OEM extended warranty, that is one thing (and they still could find a way out of warranty claims), but with a 3rd party warranty company and especially Carshield who ranks amongst the worst out there - forget it!
I agree about the manufacturer's OEM extended warranty being a better bet if you have to have it. Being transferrable is important too if you sell the car to an individual before the warranty ends.
Yeah, the Lexus extended warranty to 100K I had no issues with them. I'm curious Scotty's take. I know he thinks my 1s-250 is super reliable in the first place.