Hi everyone.

As the thread title goes, what rule of thumb do you all use when purchasing an extended warranty for your trucks?

Would you only buy into it if it is an unproven model, or with a poor track record, say like the Ecoboost problems, etc ?

I bought the new 3.3 in July and sitting in the other room after the sale was made, the new gentleman tried to persuade me into it, saying that these trucks are way different than your '02 truck. Something I know of course already, but I said it's tempting but we have a 4-5 hundred dollar payment on my wife's vehicle and other things cropping up etc, etc.; and i might buy it later on. He said do it now and it's 0 APR into the loan and I can deal you into a 50 deductible vs the regular 100 dollar one. I just bought the GAP insurance for + 900 bucks.

Thoughts?

 

 

Take the money you'd have to spend buying the Extended Warranty and put it in a separate bank account. Every time you need repairs that you have to pay for, take the money from that account. You'll be surprised how much money you will have left when you sell the truck.

 

It's hit or miss. You are rolling the dice...

For example, my previous Ford Escape went through 4 trannys. It was very annoying. It was great having the extended warranty only to have to pay $50 for a $3,000+ repair job 4x. Plus I got a rental, because each time a Ford engineer wanted to see what happened, so it would take 2 months to get a new tranny installed.

My current F150, only used it a few times for minor stuff. Feels like a waste of money, but it's a nice security blanket.

My '07 Jeep Compass, should've have gotten an extended warranty. I go through suspension components every 20k-30k miles like clockwork. I keep Rockauto and AdvanceAuto in business.

My next vehicle?! I don't know... I'll roll the dice when it comes to that point.

Also, with Ford ESPs, you can wait until you are just about close to your 36k or 3 year mark. By then you can gauge (or should be able to!) how the vehicle is eating through parts or not. -- Even then if you buy it or not buy it, it's a roll of the dice. I've seen folks roll 36,002 miles and had their engine crap the bed.

The other option is like what the other poster said, save the money and put it into an account for a "repair" fund. --- Not good for those that can't handle large amounts of money and have holes in their pockets! Also known as poor money management. ---

 

I've never bought a warranty on anything, but I admit I'd consider it if I bought a new ecoboost.

 

I declined the Ford ESP coverage when I bought my 13 F150 brand new with 56 miles on it. After reading all the horror stories about them... I ended up buying the Ford ESP after the fact when I was getting close to the end of the factory warranty... (SUCKER)

The ESP coverage has since ended and I never had to take it in for anything, except for the brake booster recall..

I previously owned a 97 F150 with the 5.4 in it that I bought used in 2001 with 62,000 miles on it and heard all the horror stories on it too and was offered an extended warranty.. I declined that one and I traded it for the 13 with some 255,000 miles on it and never had any major failure on it.. Sure, there was some things along the way, but nothing that would have made up for an ESP cost..

Should have just listened to my gut, but all in all, I felt good about the ESP while I had it for the 13 and in the end, I'm glad I have not had any issues with my truck, so you can get the warranty and have claim after claim on it, but what good is that?? Seems like it's a POS truck if that's the case, right? Or, pay for the warranty and not have to talk to a service manager, but sleep better at night?

I dunno.. personal preference of course. Will I buy an extended warranty on something? I did on my Harbor Freight electric/hydraulic log splitter for $80 and about 2 months before the warranty would have expired, it had several issues with it, so I turned it in for a new one... No fuss, no muss.. Now, I have a new one, but I know what to do and what not to do with it, so I declined the extended warranty on it..

Just go with what you feel works for you and not what a bunch of key tapping goofs on the internet say! ha, ha!

Mitch

 

That's a nice looking truck ^!

I bought the ESP on a '87 Ford truck i had and lo and behold i had 2 rear seal leaks, tons of A/C problems with the compressor, leaking lines, a hole in the evaporator, also a bad water pump, and the worst was yet to come with the 8.8 rear end going out requiring a complete overhaul....

I remember the service man said i made out on this one. Lol.

We bought the extended warranty on my wife's old Xterra (which was never used), Honda CRV and the Honda is a 2014 and still into the coverage, and recently i'm feeling a torque converter shudder between 2 and 3 shift. Online i read that CRVs needs a flash update on the transmission.

Also what i don't like about it is the water pump is run off the timing chain inside the front cover.

Food for thought for sure.

 

Just bought a 2018 F150 5.0 FX4 last month...I've only bought an extended warranty on my daughters 2010 Mariner because she was going to school in another state...peace of mind for me. I kept my 2006 for 185k and it never left me down - just had every known problem that everybody else had/has. I plan on keeping this 18 (assuming it's as good as the 06) for years and I did purchase the Ford ESP for 2 main reasons....the new 10 speed trans and the electronics....not worried about the 5.0 as it's already "proven" but the 10 speed auto and the electronics would be a major cost out of warranty.
Again - I've always passed on "add on" from the dealer but these trucks have more stuff = more stuff to break!

 

As a heads up, I buy my Ford ESP warranties from Lombard Ford. But shop around, they are very competitive for the same warranty. I don't know how they do it. The same Ford ESP from my local dealer was double the price plus tax!

 

If you are buying a turbo engine or a diesel, seriously consider the warranty. And on a diesel, make sure the injectors and entire emissions system is covered. Otherwise, take 2stroked's advice and put the money in a savings account.

 

I bought the extracare for my 2005 and got my moneys worth, I also bought it for my 2015 and i've only used it once so far, 75,000 in, 150k extracare plan, I feel I have definitely not gotten my moneys worth, but to some degree piece of mind is worth it I guess. Also holy crap they cost a lot more now then they did in 2005

 

The premium care warranty is the only one worth getting.

 

Extended warranties are an additional revenue stream. It is how they make more money off you.

Opinions vary. For those who believe that they are getting their money's worth in "peace of mind", then it is worth it.

Mathematically, it is not in your favor.

Just think of it as prepaying for a repair bill. You are taking a chance that you may need that repair within the next "x amount" of years. Then those years pass, and your money is lost, if you never have to make the repair.

Notice that they never sell you a plan like that on something that you will surely need. The tires come with a prorated warranty against defects. Why don't they let you save money by paying $100 today, so that you can have a brand new set of tires in 5 years?

Look at what other vehicle brands do. They build the cost of maintenance into the price of the car, then tell you that when you buy that car, you get "free" maintenance. Hmm......3 years of vehicle warranty, up to 36,000 miles = about 7 oil changes. What does an oil change actually cost them when they can sell it for $29.95 and make a profit? @$30 per, you get $210 retail value, which may cost that dealer about half. So the dealer gives you $100 worth of oil & filters, and gets you in the shop every 5 months to upsell you on other items. But the best part is that it is a selling tool for the car. Give me your $50.000, and I will change your oil free for the duration of your bumper to bumper warranty.

As for myself, I never buy anything from the dealer when they try to add it onto the sale or after the sale. My focus is on the out-the-door cost of the car being fair to me.

 

If your truck gets totaled or you sell it, prepare to get royally screwed on the "prorated refund".

 

I bought the extended to 125K for my '15 and the dealership through the maintenance program in with the deal when I bought it in April of '16. Currently have 55K miles on the truck, and have done 10 oil changes, a front set of brakes under the maintenance contract. Also had the transfer case replaced at 19K due to some horrible noise ... For me, the extended warranty was 1K. I figure if anything brakes on the truck, it will be at least a grand at the dealership, and the warranty give me a rental car at the same time. My piece of mind, it was worth it.