Is it worth buying this coverage on a new Lexus RX 350?
"Get quality coverage on many of your vehicle's eligible components . Cover the costs for mechanicalbreakdownafter factory warranty expires" Price $ 3675.00 for 120months/100,000 miles.
I ONLY DRIVE ABOUT 5 TO 6 THOUSAND MILES / YEAR.
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"Get quality coverage on many of your vehicle's eligible components . Cover the costs for mechanical breakdown after factory warranty expires
So this is just a marketing clause and gives no details on the specifics of the warranty. First of all you need to read the exact fine print of the warranty to see what it will and what it won't cover.
Then see if this 100k miles they are saying is on top of the factory warranty or they're counting the factory warranty within this 100k miles. This should help you determine the actual and true cost of the warranty.
Personally I've never bought extended warranty on any of my Toyota cars and I've never regretted it either. But at the end it depends on the true cost of it and if you think it'll be worth it for you or not. I think you'll be fine with just the factory warranty since it's pretty good amount.
Most people from the dealership will usually try to figure their way out for the warranties. Some people are lucky to fix problems using warranties. I will just be leery at all times when it comes to warranty.
"Get quality coverage on many of your vehicle's eligible components . Cover the costs for mechanicalbreakdownafter factory warranty expires"
Ask your lawyer what does this mean, exactly?
Eligible components sounds like a massive red flag to me.
Also, is it 10yr/100,000 miles post your factory warranty, or including it?
IMO, a total rip off for you and pure profit for the dealer. Not worth the paper they're printed on. Read and understand every word if you decide to buy one.
If the extended warranty is provided by Lexus company (not the dealership), you may pay attention to all the details and fingerprints and then decide. If it is from the dealership, forget it.
"Get quality coverage on many of your vehicle's eligible components . Cover the costs for mechanical breakdown after factory warranty expires"
With warranties, like any legal document, every word matters. "Many" means not all - so which components are excluded? "Eligible" also means not all, and what defines eligibility?
In the end it comes down to your own personal decision. I never buy extended warranties, but I have family members that always get them for "peace of mind".
I recommend you take a deep dive into the full text of the warranty, to determine exactly what is, and what is not covered, and what actions you must do (or not do) to maintain eligibility.
