Lets start a thread or forum on extended warranties.

I just bought a new 2004 xlt and was offered the extended warranty from FORD. However, I would like to get input from others as to what they have done when it comes to exented warranties.

Who do you use.
What does it cover
How much did it cost
How long does it last

etc

 

Well, since no one else answered, I will chime in. Personally I do not like extended warrenties. I don't really think you need them (hey its an f-150 right ? ) seriously though, I have never had any major problems that couldn't be fixed for under a few hundered dollars. That isn't that big of a dent for me anyways. I have almost 100k and only one major problem, a fuel injector, for a total of $300 parts & labor. Everthing else is maintenence. Pluse I drive like an old man.

However, on the other side of it, my buddy loves extended warrenties, but he floors it at every green light and and tries to stop in the shortsed distance. And he got use from his. Several times over.

When I had my standard warrenty, I never used it once. Although it was comforting in the back of my mind that I don't have to worry if something happens.

 

I just traded my 2003 Lightning in and since I figured the truck I was trading for had only 15000 miles but four months of factory warranty left why not, I am not too hard on vehicles but not too easy either and you can nver be too safe, cars are expensive today and I would rather not have to pay for any repairs on it just maintenance. It is through Mechanical Breakdown Insurance and I got the zero deuctible. No worries here

 

I have the 5/75k Ford ext warranty. It cost me U$1000. I'm slowly getting to the point of breaking even. The reason I got it is because I want warranty on my truck as long as I have monthly payments. Nothing sucks more than having to spend a grand on a failed part while still paying the note.
Don't get third party warranties. Ford only.

Fritz

 

I had one on my 99 F-150. I think I was just about even when I sold the truck at with 31k miles left to use. Nothing major like engine/tranny, but a coil, a cluster, some ball joints, and some other stuff adds up. Dunno if I will get one on current F-150.

 

I wasn't even 1 month past my factory warranty (with only 34,500 miles) and had to use my Ford ESP (6yr 75,000 Premium care).

It only cost me the $50.00 deductable instead of the estimated 375.00 that it would have cost without the warranty.

I have a feeling I made the right decision. Think about it...In todays day of computerized vehicles things can get expensive REAL quick.

If you get one, get the Premium care. There are very FEW things that are NOT covered by the warranty with that coverage.

I got the 6 year 75,000 for under $1,000.

Also, it is cheaper if you get it when you buy the truck. The longer you wait, they add penalties, so it will cost you more for the same coverage.

 

rbraughn, I bring this up only because of your sig.
(which I like by the way)

Didn't you actually buy a 3 year 39,000 mile for under a $1,000?

 

Raoul,

Have you ever bought health insurance? Have you ever met the return on investment (ROI).

No? Then you must feel great.

Yes? Then you should feel better

Almost a good analogy. I thought about using life insurance but this is what came out of it.

Have you ever bought life insurance?

Yes? That sucks!! You bet you die (inevitable) but someone else gets the money.

No? That sucks for someone else. No party money to mourn your loss, they have to bury you in a shallow grave because they pawned the shovel to mourn your loss and the preacher just may be Reverend Jim Ignatowski. But who cares at that point.......

 

I have never bought an extended warranty. My truck is 5 years old, replaced a window arm durring warranty, nothing has happened once the warranty expired. The probability of something happening is very rare, and through the warranty they are only making the owner feel safer. To get a greater since of safety, people will pay a lot more than necassary to cover one's self. I guess I roll with the thought that you can save and invest the money instead of putting it into something that has the potential to offer zero return.

 

A Lee Iacoca quote "... people will pay anything for economy.."

 

Raoul,

Yes you are correct, 3 more years or 39,000 more miles.

I have never liked the way extended warranties sound like it is in addition to the factory warranty. Seems deceptive to me.

It is the same way at Best Buy etc.

I will hit the 3 years before the 39,000 miles. I have only averaged about 10,000 miles a year in the 2 years since I have owned it (bought it with 16,000 miles)

I can't take credit for the sig, I saw it on a bumper sticker once and thought how people will lie through their teeth to keep from hurting someone's feelings. I have always been brutally honest with people, and some think I'm a bit harsh.

Well Guess what, The truth hurts , learn from it and move on

 

i'm slow, but when i bought the new truck and got the pitch for the extended warranty, it did not seem to make sense to pay for something now that would not be in effect for 3 years (after the factory warranty expires).... why pay up front unless you are POSITIVE you will keep the vehicle longer than the factory warranty?

 

Actually the only penalty you will pay if you do NOT buy your warranty when you first purchase your truck is $100.

Now you will only pay that $100 penalty IF your vehicle has over 12,000 miles on it or is older then 12 months. If the miles are below 12K and its less then 12 months then there is NO penalty.

You can only buy a Ford Extended Warranty as long as your vehicle is still under the manufactures warranty which means you can buy it up to 36,000 miles or 3 years.

If you wait until 35,999 miles or 2 years 11 months and 29 days you can still buy the Ford ESP and it will only cost you an extra $100 over the standard cost. That is the ONLY penalty and it only applies if you have more then 12k miles or owned in longer then 12 months.

Here is a great web site to price out different plans. Remember there might be other places to get them at a better cost but I personally don’t know of any and I would HIGHLY recommend if you do get an extended warranty ONLY get a Ford not aftermarket…

Ford Extended Warranty’s

 

Another way you could do this is price out a plan and then put money into a savings account until you reach the 35k or 2 year 11 month mark. If you feel you need the warranty buy it then. You may want to just keep the money you been saving to pay for the plan in the back and use it instead.

It’s a hard call to make. Most repairs will not kill the bank account but there are some major ones that might get real expensive like a blown motor, blown transmission, rear-end etc, it’s like playing the odds and the odds are really on the customer’s side. I have had extended warranty’s in the past as well as not had any.