quinn347 Posted March 24, 2011 Share Posted March 24, 2011 Looking for imput and thoughts of purchasing extended warranty. Thoughts and experience on Ford ESP or any other ones Quote Link to comment Share on other sites More sharing options...
67Goat Posted March 25, 2011 Share Posted March 25, 2011 Looking for imput and thoughts of purchasing extended warranty. Thoughts and experience on Ford ESP or any other ones Whether or not you buy an extended warranty is a fairly personal decision. The 2 vehicles I've owned that had extended warranty's were at opposite ends of the spectrum, one more than paid for itself and the other was barely used. In any case, never, never, never buy any aftermarket warranty (only manufacturer). If you decide to get one, search online and shop around, prices can vary greatly. Quote Link to comment Share on other sites More sharing options...
NJFX4 Posted March 25, 2011 Share Posted March 25, 2011 Whether or not you buy an extended warranty is a fairly personal decision. The 2 vehicles I've owned that had extended warranty's were at opposite ends of the spectrum, one more than paid for itself and the other was barely used. In any case, never, never, never buy any aftermarket warranty (only manufacturer). If you decide to get one, search online and shop around, prices can vary greatly. Agreed. Mostly a personal decision. I had a extended warrenty on a previous car and there was no need but the previous car I had I could have used it and I didn't have it. Not really much help from me but you can justify it either way. Quote Link to comment Share on other sites More sharing options...
69cat Posted March 25, 2011 Share Posted March 25, 2011 Agreed. Mostly a personal decision. I had a extended warrenty on a previous car and there was no need but the previous car I had I could have used it and I didn't have it. Not really much help from me but you can justify it either way. I plan on purchasing the warranty as there are way to many high tech things that can go wrong. I look at it as cheap insurance and one claim could pay for its self. I will only buy the Ford warranty so I know there won't be any problem with them honoring it if there is a claim. I did a lot of looking around and and seems all the dealers sell them on line. Prices are all over the place but funny thing is the best price I found on line is from the dealer Flood Ford in RI where I'm buying my truck. http://www.floodfordesp.com/ Quote Link to comment Share on other sites More sharing options...
akirby Posted March 25, 2011 Share Posted March 25, 2011 I plan on purchasing the warranty as there are way to many high tech things that can go wrong. I look at it as cheap insurance and one claim could pay for its self. Ask yourself this - if the odds were in your favor, what would happen to the company selling the warranty? Answer? They'd go out of business. On average you will come out cheaper overall if you insure yourself. You might lose on one or two vehicles but overall you'll save money (again, on average - there are always exceptions, just like there are people who sometimes win in Vegas). And it's not cheap - you're looking at $1500-$1800 for full coverage. I've had my last 4 vehicles at least 2 years beyond the warranty and I've never had a repair that would have been covered by an extended warranty. Add in 2 of my wife's vehicles that also went 2 years beyond warranty coverage and I've saved at least $9K by not buying extended warranties. I can pay for a new engine tomorrow and still be way ahead. I get a lot more peace of mind knowing I have $9K in my pocket, but to each his own. If you feel lucky (or unlucky) then go for it but understand its a gamble and the odds are not in your favor. Quote Link to comment Share on other sites More sharing options...
xj650 Posted March 25, 2011 Share Posted March 25, 2011 Another aspect to look at, is how mechanically inclined are you? If you can do basic to intermediate repairs then there is a less need for the extended warranty as you can do most of the work. I agree the extra coverage is like a nice warm blanket, but why spend money on it when most defective parts will show themselves in the original warrranty and you can fix the rest of the stuff. Quote Link to comment Share on other sites More sharing options...
ilmo Posted March 26, 2011 Share Posted March 26, 2011 You might want to ask the dealer......what if your vehicle is involved in an accident and it is damaged beyond repair? You may lose your plan. I haven't read the plan because I am not interested in extended warranty, but if you are, it might be worth checking on before spending that much. Just a thought. Quote Link to comment Share on other sites More sharing options...
dpd Posted March 29, 2011 Share Posted March 29, 2011 The extended warranties are high profit items for the dealer and they are negotiable so don't pay full price if you decide on one. Quote Link to comment Share on other sites More sharing options...
Paulpoke Posted March 29, 2011 Share Posted March 29, 2011 Ask yourself this - if the odds were in your favor, what would happen to the company selling the warranty? Answer? They'd go out of business. On average you will come out cheaper overall if you insure yourself. You might lose on one or two vehicles but overall you'll save money (again, on average - there are always exceptions, just like there are people who sometimes win in Vegas). And it's not cheap - you're looking at $1500-$1800 for full coverage. I've had my last 4 vehicles at least 2 years beyond the warranty and I've never had a repair that would have been covered by an extended warranty. Add in 2 of my wife's vehicles that also went 2 years beyond warranty coverage and I've saved at least $9K by not buying extended warranties. I can pay for a new engine tomorrow and still be way ahead. I get a lot more peace of mind knowing I have $9K in my pocket, but to each his own. If you feel lucky (or unlucky) then go for it but understand its a gamble and the odds are not in your favor. My thoughts are if during the 3yr/36mo time period I'm having issues with the new truck then I may look to replace it instead of extend the warranty. I've ordered the ecoboost and I will probably be even more watchful and diligent with this new engine than I ever have in the past. (and that's from a guy that usually keeps his vehicles maintained and driven for ten plus years at a time!) Maybe I've been lucky, but I've never owned a vehicle that I'd consider a lemon or generally just felt had issue's. My current 01'supercrew that I'm replacing still looks good and runs strong and it has 235,000 miles on it. Quote Link to comment Share on other sites More sharing options...
GreenScrew Posted March 30, 2011 Share Posted March 30, 2011 My last new truck was in 2005, noticed on the window sticker for my new truck that they now carry 5 year/60,000 Powertrain and Roadside Assistance. That is enough piece of mind for me. I can buy another in 5 years and always be under warranty (assuming powertrain should cover most major expenses). I bought a 75k mile extended warranty on an '01 SuperCrew that dropped a valve at 78k. I got some out of it (can't remember if Ford covered 50% of the costs since it was so recently out of warranty) but after that experience I won't buy another. I'm very happy to see the 5 year/60,000! Even though I'm probably close to 100,000 after 5 years its a lot better than 36,000. Quote Link to comment Share on other sites More sharing options...
jdvaughn Posted March 31, 2011 Share Posted March 31, 2011 Go with the esp. It is worth the good sleep at nigth knowing that your vehicle is under great coverage. Just make sure ot keep up with the scheduled maintenance. Quote Link to comment Share on other sites More sharing options...
akirby Posted March 31, 2011 Share Posted March 31, 2011 Go with the esp. It is worth the good sleep at nigth knowing that your vehicle is under great coverage. Just make sure ot keep up with the scheduled maintenance. I sleep better knowing I didn't waste $1500. Quote Link to comment Share on other sites More sharing options...
JimmyLeeRose Posted April 1, 2011 Share Posted April 1, 2011 Thanks for all the info, I like the peace of mind especially with the high tech stuff. :reading: Quote Link to comment Share on other sites More sharing options...
JimmyLeeRose Posted April 1, 2011 Share Posted April 1, 2011 One more thing, I have a 2004 Z71 Tahoe, had an issue with the steering column. Was replace 3 times before they got it right, all covered under the extended warrenty, in my case it paid for itself. OH no problems with the steering column since the last fix. Quote Link to comment Share on other sites More sharing options...
ttnewbie Posted April 2, 2011 Share Posted April 2, 2011 From what I've heard you can check out competitive providers to negotiate a better price: http://www.factoryplans.com/ We had an extended plan with our Mazda MPV with a feature that if your claims were less than what you paid, you get a refund. Only problem was we had to remember to file the paperwork ... which, of course, we didn't. For us, we're factoring in: a) we've got an independent mechanic that we trust/like B) we don't keep meticulous service records and would loathe a service manager denying a work due to improper maintenance c) we have a lot (perhaps too much) confidence in modern technology. We had a lemon from dodge back in the 90's, but our cars have all been reliable since then. Good luck with your decision! Quote Link to comment Share on other sites More sharing options...
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