I am closing in on 36K on my econoline van and have been offered an extended warranty by Ford $1248.00 to 75K. Is it worth it, Opinions?
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Bumper to bumper or just the drive train? HUGE DIFFERENCE. B TO B
it's worth every penny, IMO.
Was the offer directly from Ford, or was it one of those unsolicited phone calls? I get them all the time, telling me the extended warrantee for my 23 year old car is about to expire.
Just one point on the graph: We paid $700 for an extended warranty on our Honda minivan and never used it.
This is Cindy (Rob's other half ) I am a certified Service Manager at an auto dealership.
It depends which company it is through....Is it Ford itself?...Is it powertrain only or is it a fuller coverage....one large repair on a transmission or an engine leak and it has paid for itself...remember extended warranties cover failed parts...not broken or damaged...however gasket leaks and exhaust,fuel, and lines should all be covered. One more thing to look at is the mileage it ends at. You can get them up to 100,000 miles with the fuller coverage and for that coverage it is well worth the price.
Also is there a deductible?
So in other words Ford is going to give you the best deal with best coverage and as long as you buy it prior to the 36k ...no inspection. After 36K you would have to pay for inspection and the price will go up tremendously.
"this dog may be old but he ain't cold. And he still knows how to bury a bone."
Lattimore
http://www.rehmodeling.com
duck and cover....
google the company offereing the contract....
a lot of those offere are some serious fraud...
Life is not a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside, thoroughly used up, totally worn out, and loudly proclaiming
WOW!!! What a Ride!
Forget the primal scream, just ROAR!!!
Tough call!
My ford Windstar, I should have taken it! At time of purchase $750, DW said NO. We paid for transmission replacement at 75k for a diff bearing failure cost us $ 2,517 after calling around a few Ford dealers. Max price was $3500 for same parts and work! Could have had the steering rack replaced for noise but at 110k its still working.
My F150 has 170k and would have not used it.
So place your bet, but I would want 100k coverage, check how long a time it will take you to get to the mileage and match up the time covered.
I would agree that you need at least 100K coverage to be worthwhile. And also make sure there are no exclusions for work vehicles that they can dance around.
As I stood before the gates I realized that I never want to be as certain about anything as were the people who built this place. --Rabbi Sheila Peltz, on her visit to Auschwitz
Is the warranty transferable to a new owner if you decide to sell, or are you stuck with the vehicle?Edited 7/22/2009 8:59 am ET by T White
Edited 7/22/2009 8:59 am ET by T White
The Ford warranty I had still had 3 years left on it when I got a "We'll beat that, AND, you can stay local."... So, when I traded it in on the new one, I went back to that dealership and canceled the extended warranty. I got a refund check sent to me from Ford.
Don't let the extended warranty go with the trade-in, for sure!!
Bill
In my experience, they're usually transferrable to a new owner for maybe a $50 fee. One caveat - I know of folks that were denied an engine job or tranny replacement because they didn't keep good service records or changed the oil themselves. The extended warranty people are real big on the recommended maintenance schedule, and any deviation can cancel their involvement.
Greg
That right there is a prime reason why they sell them. It is a motivator to bring the auto to the dealership for scheduled maint to document it, and to bring it there for service when called for, instead of the shade tree guys
Welcome to the Taunton University of Knowledge FHB Campus at Breaktime. where ... Excellence is its own reward!
Shop around at the dealerships, I think you can save some money... Be sure to read what is covered..and what's not.
Leaky brakes on the front end of an Expedition fell under my Dealership's 5yr extended warranty, not Ford's... The fine print said "consequential damage" is not covered... Even though it would not retract and caused the dragging and wear.. Rotors and pads not covered when a new set of "loaded calipers" and new rotors were put in. Extended warranty covered about half of the cost.
Speaking of a Dealer Extended Warranty... The business office guy knew he had us over the barrel during closing the deal when I wanted the Ford warranty instead of HIS...he just jacked up Ford's price to make it look better. When I said I'd shop around for a better warranty, he just said, "You can, but it won't go on the zero percent financing." Then when the throttle body needed replacing, the even though he swore it was the very same, the dealership warranty didn't cover it... I was so Hacked and MAD....I asked to talk to the dealership's owner and got passed to the business office first. They agreed to match the Ford warranty, and the throttle body was replaced at no charge....
So, on this one, add a passenger door window motor, I guess I'm just a bit ahead of breaking even...
Bill
An extended warranty is an insurance policy. The company that sells them are betting you will not have many claims, hence they make a profit. Fear is a common tactic used in selling this insurance product. I've never bought an extended warranty for anything.....ever. I betcha I'm way ahead of the game.
Then we have paint sealer, scotch guard.....I hate those finance guys at the car dealerships.
.
I've never bought an extended warranty for anything.....ever.
When I was comparing DLP big screen TV's, I asked about the costs of extended warranties... I bought one with the Mitsubishi because the one Sears offers covered replacing the $300 projection light bulb. The 5 year warranty has covered the clear protective screen due to dust infiltration, and two projection bulbs so far as they last about 1-1/2 years before the warning light comes on. I'm ahead of the game on this one with two years to go... ;>)
I bought my 99 Econoline E250 V6 Van with 48K miles and have put another 50K on it with no major repairs; just an ignition lock, alignment twice and fuel pump.
Cost me way less than $1200.
A friend at Ford dealer told me that the trannie is usually good for 125K and the engine for 200K+.
3.2¢ per mile for additional insurance.....seems pricey for something that MIGHT happen, especially if you're counting pennies in your budget
Many people drive 10 miles out of the way to save 3¢ on a gallon of gas that takes them 20 miles
any deductibles?
what restrictions?
what if you are out of area?
Pay first,yourself then get reimbursed by a claim they may deny?......... Put the same $ away and see what compounding will get you.
Do you have a choice as to who will be able to service YOUR vehicle?
How do you normally treat your rides?
Who's offering and what kind of exceptions are in the fine print.
My GM dealership honored a major engine repair 3K over warranty with no questions. I've since added 70K+ with no other problems
I would say don't waste the $1300.00 (tax included?) Too many variables.
I'd sooner pay for AAA+ with a 100 mile tow and other roadside services and then take it to where I want the work done.
I also carry higher deductibles in different insurances than many simply because of the odds. I reserve a CC with 0 balance for emergencies
eta: You say you are closing in on 36K. Have the vehicle serviced per manufacturers recommendations if you haven't already. Dealerships, especially now, will more than likely work with you if you have been faithful to servicing.
I'm not flippin' you off.........just counting cubits
Your standard of living will eventually diminish to your standard of buying. Think about it.
Edited 7/22/2009 1:07 am by oldbeachbum
Anything other than a warrantee from the manufacturer is worthless.
I've had four extend warrantees to 100K miles with no deuctible. Three on GM and one on the Toyota. have not needed it yet on the Toy ( only 44K miles so far) but all three on the GMs have paid for themselves.
You do not need to pay the offered price. These policies are sold to the dealership fopr 300-600 bucks and the rest is markup at the dealer. Iget them offered at about 1200 and offer 7-8, then bargain to around 9.
Welcome to the
Taunton University of Knowledge FHB Campus at Breaktime.
where ...
Excellence is its own reward!
If you think about it, if every person that purchased an extended warranty had it pay for itself through covered repairs......then the dealerships would not sell them any more. I'm sure it works out for some people and I'm more sure it does not work out for most people. It's an insurance product...plain and simple.View Image
a casino comes to mind...
Life is not a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside, thoroughly used up, totally worn out, and loudly proclaiming<!----><!----><!---->
WOW!!! What a Ride!
Forget the primal scream, just ROAR!!!
"Some days it's just not worth chewing through the restraints"
Extended warranties are like gambling. You are betting that you'll have a covered repair that would exceed the cost and they are betting that you won't. They make good money on this overall so the average cost of covered repairs for your vehicle will be less than $1248.
I never get the extended warranty and can't recall any item that would have needed it. If I added up all the money that I could have spent on extended warrranties over the last two decades it would be many thousands of dollars. Overall (across all things that you purchase) you are better off not getting extended warranties and putting the money aside in a savings account.