Which of these three would you choose, if any?

[jpjsavage]

Just filling in some bits and pieces from the Lexus dealer in relation to the purchase of the LS600H discussed in another thread. 

Bearing in mind the car is 10 years old and will come with a full 3 year dealer warranty, there are three additional option items that they have suggested I consider. These are:

1. Lexus Asset Protector - basically their version of GAP insurance;

2. Lexus Smart Cover  - a service whereby and dints or scrapes, scratches, etc. can be removed from the car during the warranty period (I think there is a £10 fee for each call out). When my wife took possession of her new Qashqai recently we took this out for three years and I think it cost a couple of hundred quid or so for the 'protection'. There is further info on this element here. More info from here: http://www.lexus.co.uk/finance/our-insurance-products/#LexusSMARTCover.

3. Lexus Protect: some kind of cosmic ceramic protection! Have a look at this for further info: http://youtu.be/MmFcaMSqMYg. 

So, quick question - which of these would you consider adding to mix bearing in mind I'm going to be keeping the car for the next three years at least. 

My answer - possibly number 2 but not numbers 1 and 3. What would you do?

 

                                                                                                                                                   

 

 

[steveledzep]

Well done on your purchase Jonathan.  Personally, I wouldn't go for any of the three, just them trying to squeeze the last dollar I suspect.  Most important thing is the 3 year warranty.  GAP cover is more important on a newer car where initial depreciation is steep.  Lexus Protect.....I'm sure you're a dab hand with cleaning and polishing materials.  Dints, scrapes and scratches are just every day hazards of owning a motor car, just park away from the masses when you go to the supermarket or retail park.

You've put a lot of deliberation into this purchase, I'm sure you'll enjoy it fully.

Pictures are always welcome on this site.  Good luck !

[jpjsavage]

Thanks Steve, your advice is much appreciated. And yes, there will be lots of pictures in due course! [emoji3]

Well done on your purchase Jonathan.  Personally, I wouldn't go for any of the three, just them trying to squeeze the last dollar I suspect.  Most important thing is the 3 year warranty.  GAP cover is more important on a newer car where initial depreciation is steep.  Lexus Protect.....I'm sure you're a dab hand with cleaning and polishing materials.  Dints, scrapes and scratches are just every day hazards of owning a motor car, just park away from the masses when you go to the supermarket or retail park.
You've put a lot of deliberation into this purchase, I'm sure you'll enjoy it fully.
Pictures are always welcome on this site.  Good luck !

Sent from my LG-H870DS using Tapatalk

[olliesgrandad]

I wouldn't buy any of the three products. Claying the car and using a modern nano protectant sealant will make the paint pop. 

[Silversalmon]

I'd jump for option 2. Small dings drive me mad...

[Herbie]

I'd definitely go for 1 and 2 as we did when we got our car earlier this year. However, with hindsight I wouldn't get them through Lexus!

I can't remember the exact prices we paid at the Lexus dealer and at this time of night I'm not going ferreting about for the paperwork to check, but somewhere around £299 each comes to mind. It was only a couple of days later that we found out we could have got the same protections for half the price independently so have a look around.

[Malc]

and when you come to sell in 3 years time a few dinks will be perfectly acceptable and make no difference to the resale value methinks ......  bear in mind these are essentially insurance products at which the insurer, on balance, always makes a profit !

one buys these products once the fear syndrome has been installed ............  I'm surprised they haven't invented coil spring break insurance for when you hit a pothole ..   ah ...  maybe they'd pay out too much on that one !

Malc

[Guest]

I wouldn't go for any either,the warranty you have is the only one you need.

[nickd]

I agree with most of the above, I wouldn't buy any however that's because I'm tight.  Also while no 2 I think is a good idea, you may never have an issue.

Enjoy your new car!!!!

[PCM]

No, no and No.

If you really want them -get them cheaper elsewhere.

But read the small print first - there are so many exclusions.

( Soon be Christmas )

 

[The-Acre]

28 minutes ago, PCM said:

No, no and No.

If you really want them -get them cheaper elsewhere.

But read the small print first - there are so many exclusions.

( Soon be Christmas )

 

Couldn't agree more re the exclusions, I've been bitten by them. Except for the main warranty I wouldn't waste my money.

[PCM]

17 minutes ago, The-Acre said:

Couldn't agree more re the exclusions, I've been bitten by them. Except for the main warranty I wouldn't waste my money.

Agree. My warranty was money WELL spent.

The others - I was offered - politely declined. Never regretted it.

( Soon be Halloween ) 

[The-Acre]

1 hour ago, PCM said:

Agree. My warranty was money WELL spent.

The others - I was offered - politely declined. Never regretted it.

( Soon be Halloween ) 

Even more important than that Piers, it'll soon be my holiday!

[Herbie]

Regarding the GAP insurance, I suppose it depends on if you can afford to lose a few grand or not.

We paid £25k for our car but if it had been written off within, say, two weeks of ownership for example, we would not have been able to replace it like-for-like. This is because the insurance would only pay the trade value of the car, not the market retail price that we paid for it.

A mate of mine used to be in the trade and still gets all the publications etc. He said that we would have got £22k from the insurance, not the £25k we paid, so to me it was worth getting the GAP insurance for two or three hundred quid.

[PCM]

On 8/6/2018 at 9:51 PM, Silversalmon said:

I'd jump for option 2. Small dings drive me mad...

I'm sure there's a joke there somewhere - carry on style?

[PCM]

56 minutes ago, The-Acre said:

Even more important than that Piers, it'll soon be my holiday!

 

[Normski]

a BIG NO for all three from me too!

GAP wise, try these folk: https://www.ala.co.uk/ I went with them and i'm sure you can get a discount code from the PistonHeads website.

A good detailer will be able to protect your car with much, much better products.

The SMART covers sounds good but I'm sure they will wriggle out of many (if not all) of issues you may raise during the period of cover. Again, your local detailer should be able to help if you do need this sorting.

[Malc]

GAP insurance is just that and the insurer makes a profit coz the likelihood of a claim being made is amazingly remote .....  like all insurances

Once the fear syndrome is in you there will always be, to you, a valid reason to insure

The insurers win hands down overall.

But it's up to you which insurance company you decide to line it's pockets with your hard earnt .........  or none at all 

Malc

my house is maybe 450 years old and i pay insurance every year ............. the likelihood of a catastrophic ( or any ) claim is clearly negligible and over the centuries the insurers may have made a fortune insuring my house  ........... would I cease paying insurance, well, no ..........  The fear is in me  that it would be just my luck to run out after 450 years 

[Cotswold Pete]

16 minutes ago, Malc said:

  The fear is in me  that it would be just my luck to run out after 450 years 

Totally agree, my house is a mere 250 years old, survived a few wars and neglect in the past, and never have I claimed, and will I still insure, YES, just in case.

Also never needed claimed on my car insurance ever, so someone has made a nice profit out of me over the years.

[jpjsavage]

Well, general consensus is pretty overwhelming so won't be taking any of those three products. Thanks everyone for the advice. 

[Spacewagon52]

I liken it to appliance insurance they try and sell you at Argos / Currys etc. You can spend a lot of money insuring for very little return. The bottom line is how much are you prepared to lose? If it is your home, then the risk is not worth it, but for a bloody £12 kettle?

[DAN@ADRIAN FLUX]

Hi.

Just to let you know that we offer a product called Total Loss Protection. Whilst it's not exactly the same as your traditional GAP insurance we feel for some customers it can make a cost effective alternative.

Please feel free to take a look if you wish.

https://www.adrianflux.co.uk/extras/total-loss/

Regards,

Dan.