I have had my truck about a year and a half and when I bought it I got a 75000 mile warrenty ( extended). I paid 1200.00 for it and Ford pro-rated it and sent 700.00. Whats up with pro-rating something you have never used? I now still have 30000 miles. Look like the exteded warrenty would start at 3yrs or 36000 miles. Ok so I didn't even get kissed.

 

That's why you have to look at the contract very carefully. Many extended warranty plans start the day you buy it, even though the factory warranty is still in place. They pro-rated it because you owned the extended warranty for a period of time and they deducted that portion from the premium you paid. Extended warranties are money makers for the underwriters and the dealers who sell them. It sucks, but nothing you can do about it.

 

I had never seen one the day I bought it. I sure didn't know I would spend $12,000 on mods! I hope someone does a search and finds this before thay buy the "extended ripoff"!

 

I'm sorry I don't follow what you mean by pro rateing it? I have a 2000 Lightning and I got 500. back from my extended warrenty. However my extended warrenty cover my truck for 76K I know this for sure cuz I blew a plug at 72K and the fixed it all I paid was 50. bucks!

Just mt .02 cents.

Suavy

 

is nothing more than an insurance policy.. Ford is betting that they wont have to fix more than what you paid on the policy. If you are going to mod the **** out of your truck then dont buy one. I am keeping my drivetrain mostly stock.. I have a filter kit and a TB. Warranty's are cancelled for just these items.. chip and a filter are different items...
I am probably going to buy one to cover me 6 yrs/75000 miles because I will exceed the time before I hit 100,000 miles and no need to buy a 6yr/100k coverage.. If I have a problem, then I am covered.. If I dont then Ford keeps my money.. its that simple..I have bought them before and gotten more than my money's worth and there have been times when I didnt get anything for it. If you go to sell your truck, its an asset in the sell process because they are transferable.. the new owner has some piece of mind..
Dana

 

until near the end of 3 years/36l whichever comes first, then get on the phone and play one dealer against the other for best price. Lot of markup in these. I bought the $1200 warranty for $800 the day I bought the truck.

 

So, if I was wanting to do an extended warranty on my truck I would be best going in sometime near my 3year/36 is up and buying it then? Is that what you guys are saying? thanks.

 

Same here (~$750 - $800 I think, somewhere in there). The way I figure, It'll be covered at least while I owe on it. I'd hate to have to make a payment and something blows @ 36001+.

 

Just so you guys know, Ford charges an additional $100 if the warranty is purchased after 12 months from the date of delivery. You also can not add a warranty after 36K or three years for the original delivery date, whichever comes first.
Most dealers generally will also give you a better price on the warranty when you buy the vehicle than they will at a later date.
In either case, you can try to negotiate price. Some dealers do, some don't.
I have owned three Lightning's and have put an extended warranty on each. I've not yet kept one truck beyond the standard warranty period, so like Tim, I have lost money on the first two when I cancelled them at trade-in. At least on paper anyway. Over the last four years, I have received excellent service from not only one, but two local Ford dealerships when needed. The first thing the service mangager sees when he pulls up your VIN in the Ford computer when you take it in for service is that you have an extended warranty. I believe this helps.
Work performed to date on my three trucks has vastly exceeded my extended warranty costs.
Even if you heavily mod you vehicle, and then they subsequently void your DRIVETRAIN warranty you may still make out with an extended warranty.
Not only drivetrain components are costly. I had to have the complete instrument cluster replaced in my 99 at 27K miles. That alone would have cost me more than the extended warranty if it had occurred after 36K. Other things like the antilock brake system, air conditioner, stereo, etc. also fall into this category.
The value of an extended warranty is certainly debatable. If you never needed it, it wasn't worth having. If you can't afford a major repair, you should have one. If you can do a majority of your own work, it could still go either way depending on which parts are required.
In general, you can plan on the cost of labor being twice the cost of parts required on most dealership repairs.
If anyone wants more info on this subject, email me offline at winmdl12@yahoo.com. My wife is currently a Finance Manager at a local Ford dealership and will try to help anyone out.

Lightning Bob