Well whatever. As I said before and I think this is the point people are missing is I am stating it's a matter of personal preference.
Ah, but you're missing an important piece to that puzzle. If you take the $1500 you would have spent on the warranty and put it in the bank you'd be able to use that for the repair (at least a good portion of it) and still be able to pay for the vacation. And if you don't have any warranty repairs you can use that $1500 for a free vacation.
On THAT vehicle, yes. But that's not going to happen on every vehicle.
It's a bet either way, the difference is the odds are not in your favor if you bet the money. It's a simple question of odds and probability over time. For every policy that pays out $3k or more there are probably 5 or more that don't pay anything. If that wasn't true then they wouldn't sell the warranties.
Can I bare the cost of an expensive repair: Yes
Do you honestly think $1500 in the bank with interested is going to net you enough for that family vacation in 5 years? Doubt it.
If you spend $1500 of your own money on a vacation was it really "free"....nope.
If I have an $800 repair out of $1500 would $700 cover a family vacation? Seriously doubt that.
I realize the protection plan is not free but I also didn't expect it to be.
That's IF I don't have repairs. There's no puzzle here, I know insurance is a gamble and I also know what I spent, the thing is that personally I am okay with that. Maybe others are not and feel it's a waste of money, if that's the case the choice is simple....don't purchase it. Also I am not saying every vehicle will have issues. I don't purchase extensions for all my car's either, just so happened to do that on this one. True in the long run these plans will not pay off but if you purchase them now and then for piece of mind I don't feel it's that big of a deal.
Honestly we can anal-yze it all day long and throw up costs and figures and estimates and predictions, make charts and graphs, the world could even end in 5 years, but if someone wants to purchase the plan they should do so.
I do love the ride and looks of my Edge. The entire reason this forum exist is because of the car, it's also here for people to bitch about things that irritate and go wrong with them as well as say what's great about them. Do I 100% trust Ford quality right now? no.
To each their own, I say if you are on the fence and worried about Fords quality get it. If not then don't.. it's either A or B make a choice and go with your gut. If you are going to lament about spending money on a service plan or warranty extension that may or may not be used then stay away from it.
I am a gambler. I realize there are times I can walk into a casino and turn $100 into thousands, and other times I will be out all the money I budgeted. The biggest issue is you have to be okay with the outcome win, lose, or draw. If it gives you heartburn then don't go to the casino, go to the park instead.
That said I can self insure and pay that expensive repair out of pocket or pay a little now and know if I should lose, and need that major repair I am protected. That's JMO obviously opinions may vary. The money has been spent, it doesn't mean I can't make more...lol.