Wilco

Hi Everyone!

I'm new to the forum and am really glad to have found it. I've found all the info I could want and more. That being said, I do have a question.

Since my 05' Mustang is my first modern Ford (and I Love it!) I was unsure of whether or not the extended warranty packages Ford offers are a must-have or not.

Have most of you opted for an extended warranty?

If not - are you comfortable with your decision based on past experience with other Mustangs, even though they are a different animal?

I'm in a position to add the warranty to my contract (long story) so any feedback is appreciated! Did I mention that I Love my new car?

Thanks!

jwede

The extended warranty on my F-150 didn't pan out as I am just about to turn 100K with absolutely no issues.

The extended warranty on My 01 Tauras never covered anything ecept an coolant level sensor.

The extended warranty on my 97 SHO paid well - saved about $1000 on the transmission after the cost of the warranty.

The 5yr/100K extendend plan on the 04 Exploder was free through the dealer. We'll see

Either way, the peace of mind was worth it. I'm still out to lunch on wether I will get one on my Mustang.

jwede

Oh, and welcome to the forum.

Inbetween

I never buy extended warranty on anything...


Why pay them big money to take a small risk, when you can take
that same small risk yourself for nothing?


Welcome to the forum

jwede

Basically the extendend warranty is an insurance policy and a gamble as well. As hard as I drive, I didn't want to take those odds. I'm suprised (hmm. not really) that the F150 is as solid as it has turned out to be.

Badsnke98

I agree. I'm thousands ahead by not purchasing them.

GaryK

My understanding is you can buy the extended warranty at any time before the 3 year mfr warranty is up, so I'm going to wait and see how it goes. Why lay out the money now for something you won't use for at least 3 years?

jwede

As time goes on, the warranty gets considerably more expensive.

Montrose

I'll be taking the same approach with my 05, and I was told the cost is the same whether I buy it now or wait for three years. If I wait for three years, it's more per year, but then I'm not paying for some of it in advance.

jwede

I tried to extend the warranty on my SHO, it was $1900 a year for the powertrain...

Wilco

I'll be taking the same approach with my 05, and I was told the cost is the same whether I buy it now or wait for three years. If I wait for three years, it's more per year, but then I'm not paying for some of it in advance.
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In this case, for the V6 05', top dollar is $1600 for the premium care to 100k miles. The dealer said it goes up $350 per year if you wait to add it on, in which case, you'd be better of sticking the money in a savings account. The dealer admitted that there is considerable profit in there, so maybe it can be negotiated. (?)

One transmission failure and it's all worth it, especially w/ the rental car reimbursment, etc. but if nothing goes wrong, I guess it's down the drain.....

I'm glad to hear good things about reliability so far!

Inbetween

I think "self-insuring" is the way to go....put the money
in savings instead, if you don't need it, let it carry over
to the next car etc....

Badsnke98

Yes big profit and they always would like to sell that insurance. Also I have had lower offers as the time pasted, but never higher.

sranger

I almost never buy them on anything, but being that this is a totaly new design and quite powerful, I though it was worth the $1500 for a full 7/75 factory warrantee. In a new design, there are things that might take a while to show up.

Having said that, it is also likely that any real serious problems would show up BEFORE the 3/36 ran out anyway...

I do however, think it was probably a waste of cash... It will also keep me from doing any mods to the engine. Contrary to popular belief, I know that they can cause significant warrantee issues...

If you plan on doing a lot of mods, I would skip the extended...

GhostTX

Check your auto insurance for their "extended" warranties. I know Allstate and Geico have them. It covers the whole (new) car up to 100,000 miles. There is a deductible, around $250 and the policy is only an extra $5-8 a month. That's considerably cheaper than buying an extended warranty thru the dealer.

AGBULLIT

I agree with "Inbetween". From what I have read in Consumer Reports and have heard on TV from financial experts; it is better to save the money you would have spent on a warranty.

Dan

I bought a full warranty.....yah, I might loose out, but you know what, its so nice to be able to take the car to them and say "Whatever, just fix it"

If you can afford it and you plan to keep the car 7 years, why not? Even if you don't decide to keep it, a warranty will improve the resale value of the car.

Most will say yes or no based on their experience....with me, I've had vehicles which would have paid for the extended warranty several times over.

Lastly, I think I will enjoy the car much more with it. Its hard to like a car you just shelled $700+ out to fix once every one or two years.....

Just my $0.02.

Dan

holderca1

Easier said then done though...ooohh, look I have $1500, what can I spend it on.

Wilco

[quote=Dan,February 15, 2005, 2:28 PM]
I bought a full warranty.....yah, I might loose out, but you know what, its so nice to be able to take the car to them and say "Whatever, just fix it"

So far, I'm with you Dan. It might add $25 to the car payment, but knowing that if anything goes wrong, it's going to get fixed and I don't have to leave room on a credit card or money in the bank to deal with it for the next 6-7 years is worth it to me. The dealer is supposed to call me tomorrow with an offer (long story) so I believe I'll take it if possible.

I like the idea of going through my insurer though, I'd never thought of that. I wonder if the service dept. would treat me better if I'm backed by Ford instead of State Farm?

jwede

I found something interesting when dealing with the extended plan and my SHO. The Yamaha V-8 in those cars is extremely rare and expensive. Some people that had cam failed motors went to Ford with their extended warranties and their 18K estimates for a new motor and found that they were only covered for Blue Book resale value. BIG Difference.

Those extended warranties are insurance policies and have many loop holes. Read the fine print and you may be suprised as to what is not covered.