Diesel350 Posted October 1, 2011 Report Share Posted October 1, 2011 Anyone buy the extended warranty that Ford offers? It's the 6 yr 60,000 one they offered for like $1,150 Do you guys think it's worth it? Quote Link to comment Share on other sites More sharing options...
akirby Posted October 2, 2011 Report Share Posted October 2, 2011 Anyone buy the extended warranty that Ford offers? It's the 6 yr 60,000 one they offered for like $1,150 Do you guys think it's worth it? Nope. It's like gambling in Vegas - the odds are never in your favor (over several vehicles). You could get lucky (or unlucky) and get your money back. I certainly wouldn't buy a 6 yr 60K mile warranty because the factory powertrain warranty is 5 yr/60k miles so that's not much additional coverage. Go for the 7 yr/100K mile version if you're going to get one. Quote Link to comment Share on other sites More sharing options...
JOEHIO Posted October 4, 2011 Report Share Posted October 4, 2011 (edited) I've posted elsewhere on this in the forum, but I went with a extended warranty on my '06 Explorer, and it paid for itself, plus about $1,500 in my pocket (unfortunately, has some major problems the past year). Went with the 7/100 Premium Care on my wife's MKS. If you plan to keep it, repairs can get might expensive down the road. Edited October 4, 2011 by JOEHIO Quote Link to comment Share on other sites More sharing options...
akirby Posted October 4, 2011 Report Share Posted October 4, 2011 I've posted elsewhere on this in the forum, but I went with a extended warranty on my '06 Explorer, and it paid for itself, plus about $1,500 in my pocket (unfortunately, has some major problems the past year). Went with the 7/100 Premium Care on my wife's MKS. If you plan to keep it, repairs can get might expensive down the road. And I've posted elsewhere that I've had 5 vehicles eligible for an extended warranty (kept more than 2 years beyond the factory warranty). Not a single repair that would have been covered. So in my case I would have spent at least $7500 and gotten nothing in return. You can always get lucky (or unlucky) on one vehicle. Or even two or three. But in the long run the odds are not in your favor. In my case I can pay $4K for a new engine and still be $3500 ahead. Quote Link to comment Share on other sites More sharing options...
Sportedge Posted October 23, 2011 Report Share Posted October 23, 2011 Anyone buy the extended warranty that Ford offers? It's the 6 yr 60,000 one they offered for like $1,150 Do you guys think it's worth it? I'm extending my warranty when my car comes in. I have to protect my investment. Probably doing the 6-year 100,000 miles. I got the Limited Fully-Loaded and I want to make sure my whole car is covered throughout my financing term and then some. I would be foolish not to protect it haha. Too much electronics and tech that could malfunction and cost a fortune. It's worth the money if you factor in how much it would cost out-of-pocket if something happened. Quote Link to comment Share on other sites More sharing options...
JOEHIO Posted October 24, 2011 Report Share Posted October 24, 2011 (edited) Smart move, in my opinion. Unfortunately, I had the '06 Explorer back to the dealer last week, had some issues, and they were billing Ford Extended warranty $1,200 for repairs. My warranty is up on Dec 13th, really considering being in a Sport or MKX by then. I've probaby saved around $4,000 with the warranty, should have gone with a 7 yr/ 100,000 mile one, like I did with my wife's MKS. Oh well, a new car will make a nice Christmas present, don't you think? Edited October 24, 2011 by JOEHIO Quote Link to comment Share on other sites More sharing options...
akirby Posted October 24, 2011 Report Share Posted October 24, 2011 It's worth the money if you factor in how much it would cost out-of-pocket if something happened. Not necessarily. We've been through this before. If you want to buy an extended warranty because it makes you feel better or because you feel unlucky or you just want to gamble that you'll come out ahead - fine. But the odds of getting more in claims that you have to pay for the warranty are not in your favor. If they were then nobody would sell them because they'd lose money. As an example, I've saved over $7k by NOT buying extended warranties on any vehicles, so I don't care if I have to spend $4K tomorrow - I'm still $3K ahead. Quote Link to comment Share on other sites More sharing options...
Sportedge Posted October 24, 2011 Report Share Posted October 24, 2011 Not necessarily. We've been through this before. If you want to buy an extended warranty because it makes you feel better or because you feel unlucky or you just want to gamble that you'll come out ahead - fine. But the odds of getting more in claims that you have to pay for the warranty are not in your favor. If they were then nobody would sell them because they'd lose money. As an example, I've saved over $7k by NOT buying extended warranties on any vehicles, so I don't care if I have to spend $4K tomorrow - I'm still $3K ahead. $7,000 for your extended warranty?! My dealer says he'll make my warranty extended to 6 years 100,000 miles for $800. I don't know what dealer is charging you 7 thousand dollars to extend your warranty. 1 Quote Link to comment Share on other sites More sharing options...
jlong Posted October 24, 2011 Report Share Posted October 24, 2011 Not necessarily. We've been through this before. If you want to buy an extended warranty because it makes you feel better or because you feel unlucky or you just want to gamble that you'll come out ahead - fine.But the odds of getting more in claims that you have to pay for the warranty are not in your favor. If they were then nobody would sell them because they'd lose money. As an example, I've saved over $7k by NOT buying extended warranties on any vehicles, so I don't care if I have to spend $4K tomorrow - I'm still $3K ahead. $7,000 for your extended warranty?! My dealer says he'll make my warranty extended to 6 years 100,000 miles for $800. I don't know what dealer is charging you 7 thousand dollars to extend your warranty. You didn't read what akirby said correctly. I'm in the same position. Not sure if I want to extend the warranty on my Edge. I have purchased 1 extended warranty and didn't use it, don't remember what it cost but let's just say $900. My wife before we were married purchased an extended warranty and used it for a repair that cost $300, and there was a $50 deductible. Let's just say her warranty cost $900. I've owned 5 vehicles since 2000 including the edge and never had an engine or transmission go out. Most repairs outside of that are in the $50-$500 range. And I haven't had many repairs that cost more than a couple hundred outside of shocks and bushings which are normal wear items that aren't covered under warranty anyway. Hum, I think I just talked my self out of buying the extended warranty, LOL. Quote Link to comment Share on other sites More sharing options...
akirby Posted October 24, 2011 Report Share Posted October 24, 2011 You didn't read what akirby said correctly. I'm in the same position. Not sure if I want to extend the warranty on my Edge. I have purchased 1 extended warranty and didn't use it, don't remember what it cost but let's just say $900. My wife before we were married purchased an extended warranty and used it for a repair that cost $300, and there was a $50 deductible. Let's just say her warranty cost $900. I've owned 5 vehicles since 2000 including the edge and never had an engine or transmission go out. Most repairs outside of that are in the $50-$500 range. And I haven't had many repairs that cost more than a couple hundred outside of shocks and bushings which are normal wear items that aren't covered under warranty anyway. Hum, I think I just talked my self out of buying the extended warranty, LOL. The key is you can't go back and forth - you need to make the decision to self-insure and stick with it, even if you lose on one or two vehicles. You'll win in the long run over a lot of vehicles. But you may have to pay for a large repair occasionally. For people who can't afford a single large repair bill I recommend buying the warranty with the vehicle and financing it so you're only paying a few dollars per month. If you can afford to buy a warranty after the fact for $1500, you can probably afford to pay for a big repair also. Quote Link to comment Share on other sites More sharing options...
akirby Posted October 24, 2011 Report Share Posted October 24, 2011 $7,000 for your extended warranty?! My dealer says he'll make my warranty extended to 6 years 100,000 miles for $800. I don't know what dealer is charging you 7 thousand dollars to extend your warranty. As jlong pointed out that was over 5 vehicles that were kept at least 2 years beyond the warranty period. Quote Link to comment Share on other sites More sharing options...
wlepse Posted October 24, 2011 Report Share Posted October 24, 2011 I still plan on picking one up for the wife's Edge. Between the BAMR, MFT and PTU I do have major concerns about the vehicle over the long haul. I can get a 7yr/125k warranty with $50 ded for ~$1600. A coworker of mine just had his PTU replaced and other tranny work total was over 2k. While I agree with Akirby in theory you do have to take each vehicle and your personal situation into account. While they wouldn't sell plans if they didn't make money on the whole, you do have to consider that some models they might lose money on. Since we plan on keeping the Edge long term...providing the MFT gets sorted...I prefer having the piece of mind that it is covered for quite some time. Quote Link to comment Share on other sites More sharing options...
akirby Posted October 24, 2011 Report Share Posted October 24, 2011 I still plan on picking one up for the wife's Edge. Between the BAMR, MFT and PTU I do have major concerns about the vehicle over the long haul. I can get a 7yr/125k warranty with $50 ded for ~$1600. A coworker of mine just had his PTU replaced and other tranny work total was over 2k. While I agree with Akirby in theory you do have to take each vehicle and your personal situation into account. While they wouldn't sell plans if they didn't make money on the whole, you do have to consider that some models they might lose money on. Since we plan on keeping the Edge long term...providing the MFT gets sorted...I prefer having the piece of mind that it is covered for quite some time. Actually it's "peace" of mind and you can always come out ahead on one vehicle if you're willing to gamble. But I don't remember any PTU problems outside of the factory 5/60K warranty. Quote Link to comment Share on other sites More sharing options...
wlepse Posted October 25, 2011 Report Share Posted October 25, 2011 Like I said the guy I work with has ~75k on the clock and just had it replaced for the first time. He is the one that showed me that potential class action lawsuit I posted up a while back. And no I was correct...I want to retain the piece of mind I have left! Quote Link to comment Share on other sites More sharing options...
Edgieguy Posted October 27, 2011 Report Share Posted October 27, 2011 I remember reading a thread that compared all the long term Esp warranties and their pricing. Some forum members picked them up online vs buying them at their dealership and saved hundreds. Search for it, it may save you a few dollars for the same exact coverage plan. Quote Link to comment Share on other sites More sharing options...
wlepse Posted October 27, 2011 Report Share Posted October 27, 2011 Not sure of the thread you were referring to but our dealer quoted us $2400 for a 100k premium care with $100 deductible, can purchase a 125k plan with $50 deductible for ~1600. Quote Link to comment Share on other sites More sharing options...
bbf2530 Posted October 27, 2011 Report Share Posted October 27, 2011 (edited) Hi gang. :D I have posted several times in several threads to answer ESP/Extended Warranty pricing questions. You can find further information here LINK - Extended Warranty Pricing In the third post I list the online ESP sellers who consistently come in with the lowest pricing. Even if you don't use them, use their pricing to talk your Dealer down ($2,400 is far too high). Whatever you do, if you decide to go with an extended warranty (it is a personal choice so I am not trying to convince anyone one way or the other here), do not purchase a third party extended warranty as they are generally nothing but problems. Stick with the genuine Ford ESP Plan. Post back with experiences and good luck. :beerchug: Edited October 28, 2011 by bbf2530 Quote Link to comment Share on other sites More sharing options...
nullreference Posted October 31, 2011 Report Share Posted October 31, 2011 I just got a 7yr/100k/$100 deductible Ford extended warranty from the dealer for $1180 but plan to cancel it, I was told I have 30 days to decide to cancel but I had to take the offer there. Hopefully I don't have issues cancelling and getting the money credited to the loan. Quote Link to comment Share on other sites More sharing options...
phantom9000 Posted November 9, 2011 Report Share Posted November 9, 2011 i got 6 yr 60,000 miles bumper to bumper for $800 with $50 deductible Quote Link to comment Share on other sites More sharing options...
akirby Posted November 9, 2011 Report Share Posted November 9, 2011 i got 6 yr 60,000 miles bumper to bumper for $800 with $50 deductible Assuming you drive 12K miles per year, that warranty only added 2 years to the non powertrain components. That's why it's cheaper. The extended warranty wouldn't have to deal with powertrain and the non powertrain components would only be covered for an extra 2 years (from 3/36 to 5/60). Quote Link to comment Share on other sites More sharing options...
phantom9000 Posted November 10, 2011 Report Share Posted November 10, 2011 Assuming you drive 12K miles per year, that warranty only added 2 years to the non powertrain components. That's why it's cheaper. The extended warranty wouldn't have to deal with powertrain and the non powertrain components would only be covered for an extra 2 years (from 3/36 to 5/60). i drive around 9k a year Quote Link to comment Share on other sites More sharing options...
akirby Posted November 10, 2011 Report Share Posted November 10, 2011 i drive around 9k a year That will get you 3 extra years then. Quote Link to comment Share on other sites More sharing options...
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