Hi, I recently bought a lexus Ls 460 2016 with 37k miles awd, I got it with extended warranty from the delearship, I am thinking of getting rid of the extended warranty. I do see alot of complaints regarding breakdowns at least not at this low mileage.
Just consulting here to get prospective from people who have or have worked on the cars and if it best to keep the warranty. Don't want to have to pay 5k for suspension parts of computer issues or any big breakdowns.
Also is it best to get the warranty separately, rather than paying interest on it by including it in the car loan?
Thank you for your insights
Are you sure you can "get rid" of this extended warranty? I thought that usually the price is folded into the out-the-door price of the vehicle, and that money is financed and paid as part of the monthly payment.
Who is the warranty provider? If it's a factory extended warranty it may be OK. Warranties backed by the dealer or 3rd party warranty companies are usually not worth the paper they are written on.
3rd party.
Encore.
I will call tomorrow. Got rid of part of it right there, hence I believe I can get rid of the rest.
Got rid of part of it right there, hence I believe I can get rid of the rest.
Will it affect your monthly car payment?
Nope, I would told it was only get applied to the financing as amount paid. The wheel and tire warranty i canceled only got applied to the loan. I also plan to refinance with my bank which is one of the reasons I want to drop the warranty do want to refinance with it on it.
Just got it because I was told repairs on the ls460 can get really expensive, but I don't seem to see complaints about the 2016 model, like control arm which I read can go up to 6k to repair, and luckily I my ls 460 doesn't have the air suspension, one less thing to worry about.