What is the best way to obtain a warranty on a low mileage pre-owned luxury car?
twells1906
I am looking at purchasing a '05 Lexus SC430 with only 18k miles from a private dealership that specializes in high-end pre-owned vehicles. I have run a CarFax Report and it seems that everything checks out so far. The factory warranty expired last month (it was 4 years or 50k miles). I have heard horror stories about purchasing 3rd party warranties. What the best way to approach this?
Answer
You couldnât have picked a better time to buy! Car sales are off as much as 60%
in most areas and car dealers are doing whatever it takes to move inventory. This works
heavily in your favor. If you plan on purchasing your car from a franchise dealer I would strongly recommend you purchase your warranty from them. It will be the best product
to meet your needs and the service can be done at that dealership.
But here is the best part! Because dealers are doing whatever it takes to move inventory
they are willing to negotiate on just about anything. I strongly encourage you to start the
negotiation process out by phone. One of the deal breakers for you is for them to
sell you a warranty at cost. Donât give on the price of the car either. A warranty is an aftermarket item and if the dealer has to give it away at cost to get the sale they will
do it 90% of the time. Now to be kind you might offer to pay $150 over cost. This
will ensure that the Finance Manager at least makes something for his/her time.
Although there is no easy way around the hard cost for a warranty on a Lexus, you could
still save well over $1,000. Go for it!
Cheers!
You couldnât have picked a better time to buy! Car sales are off as much as 60%
in most areas and car dealers are doing whatever it takes to move inventory. This works
heavily in your favor. If you plan on purchasing your car from a franchise dealer I would strongly recommend you purchase your warranty from them. It will be the best product
to meet your needs and the service can be done at that dealership.
But here is the best part! Because dealers are doing whatever it takes to move inventory
they are willing to negotiate on just about anything. I strongly encourage you to start the
negotiation process out by phone. One of the deal breakers for you is for them to
sell you a warranty at cost. Donât give on the price of the car either. A warranty is an aftermarket item and if the dealer has to give it away at cost to get the sale they will
do it 90% of the time. Now to be kind you might offer to pay $150 over cost. This
will ensure that the Finance Manager at least makes something for his/her time.
Although there is no easy way around the hard cost for a warranty on a Lexus, you could
still save well over $1,000. Go for it!
Cheers!
Why is the Toyota Land Cruiser so expensive?
Curious Ro
I was suprised to find out that it's around $70,000 - more than the price of some luxury cars! What's basically the difference between the Land Cruiser and the Highlander and 4Runner?
Answer
The Toyota Land Cruiser is a legend of automotive history, or more precisely, history of automotive excellence.
Some of the distinctions of the Toyota Land Cruiser are:
1. The 5-year Reliability Percentrank average of the Toyota Land Cruiser is .94 on a scale of 0.00 to 1.00. This contrasts sharply with those of nearly every other large sport-utility vehicle; for example, the 5-year Reliability Percentrank average of General Motors' V8 GMC Envoy is .05 and that of the GMC Yukon XL is .34. For reference, General Motors' overall 5-year Reliability Percentrank average is .31, Ford's is .50, Honda's is .84, and Toyota's is .89.
2. The Toyota Land Cruiser is on AutoOnInfo.net's very exclusive lists of the Best of 2002, the Best of 2003, and the Best of 2004 (the most recent year for which the best lists have been assembled).
3. Based on the engine reliability of vehicles between the ages of 6 and 10 years, the Toyota Land Cruiser is on AutoOnInfo.net's 2008 list of Automobiles with Best Engine Reliability, with an Engine Reliability Rating of +.88 on a scale of -1.00 to +1.00.
4. Based on the transmission reliability of vehicles between the ages of 6 and 10 years, the Toyota Land Cruiser is on AutoOnInfo.net's 2008 list of Automobiles with Best Transmission Reliability, with an Transmission Reliability Rating of +.88 on a scale of -1.00 to +1.00.
5. The Toyota Land Cruiser is on Consumer Reports' 2008 list of the Best of the Best, and is the only large SUV on this list.
To compare the 2007 Toyota Land Cruiser (a large SUV) with the 2007 Toyota 4Runner and the 2007 Toyota Highlander (midsize SUVs), see:
http://www.AutoOnInfo.net/NAEd200704ProductInfoToyotaLandCruiser.htm
http://www.AutoOnInfo.net/NAEd200704ProductInfoToyotaHighlander.htm
http://www.AutoOnInfo.net/NAEd200704ProductInfoToyota4Runner.htm .
With regard to price, you must have chosen some options, as the pre-tax price of the Land Cruiser is closer to $60,000.
With regard to sales, the 2008 sales of the Toyota Land Cruiser are up 69.7% through October 2008, and the 2008 sales of the Land Cruiser's more luxurious cousin, the Lexus LX, are up 207.1%. The Lexus LX, at about an extra $15,000, has outsold the Land Cruiser so far this year, by about 106%.
The Toyota Land Cruiser is a legend of automotive history, or more precisely, history of automotive excellence.
Some of the distinctions of the Toyota Land Cruiser are:
1. The 5-year Reliability Percentrank average of the Toyota Land Cruiser is .94 on a scale of 0.00 to 1.00. This contrasts sharply with those of nearly every other large sport-utility vehicle; for example, the 5-year Reliability Percentrank average of General Motors' V8 GMC Envoy is .05 and that of the GMC Yukon XL is .34. For reference, General Motors' overall 5-year Reliability Percentrank average is .31, Ford's is .50, Honda's is .84, and Toyota's is .89.
2. The Toyota Land Cruiser is on AutoOnInfo.net's very exclusive lists of the Best of 2002, the Best of 2003, and the Best of 2004 (the most recent year for which the best lists have been assembled).
3. Based on the engine reliability of vehicles between the ages of 6 and 10 years, the Toyota Land Cruiser is on AutoOnInfo.net's 2008 list of Automobiles with Best Engine Reliability, with an Engine Reliability Rating of +.88 on a scale of -1.00 to +1.00.
4. Based on the transmission reliability of vehicles between the ages of 6 and 10 years, the Toyota Land Cruiser is on AutoOnInfo.net's 2008 list of Automobiles with Best Transmission Reliability, with an Transmission Reliability Rating of +.88 on a scale of -1.00 to +1.00.
5. The Toyota Land Cruiser is on Consumer Reports' 2008 list of the Best of the Best, and is the only large SUV on this list.
To compare the 2007 Toyota Land Cruiser (a large SUV) with the 2007 Toyota 4Runner and the 2007 Toyota Highlander (midsize SUVs), see:
http://www.AutoOnInfo.net/NAEd200704ProductInfoToyotaLandCruiser.htm
http://www.AutoOnInfo.net/NAEd200704ProductInfoToyotaHighlander.htm
http://www.AutoOnInfo.net/NAEd200704ProductInfoToyota4Runner.htm .
With regard to price, you must have chosen some options, as the pre-tax price of the Land Cruiser is closer to $60,000.
With regard to sales, the 2008 sales of the Toyota Land Cruiser are up 69.7% through October 2008, and the 2008 sales of the Land Cruiser's more luxurious cousin, the Lexus LX, are up 207.1%. The Lexus LX, at about an extra $15,000, has outsold the Land Cruiser so far this year, by about 106%.
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