Any opinions on extended warranty's?

 

When I purchased my 2006 Mustang convertible last September I purchased the extended Ford warranty. So far it has worked out well. Whenever there is a repair that is covered by the warranty there is a $100 delectable. Something I learned from the service manager. The $100 deductible applies to an entire work order not individual items on a work order so I gang the little things into one visit, Make sure you are aware of the exclusion. There are some but not that many but better not to be surprised

 

you do not have to get the $100 deductable. Ford also offers a $50 and no deductable also but it ups the extended some. It can be worth it but then again not depends. I have owned a bunch of explorers and some where better than others, I had plenty of need for the extended and it saved my butt. My current ( let me find some wood to knock on..okay) hasn't needed it nore my mkz. I will say that Ford offers one of the best extended warranties though. I always get the top warranty i think its premium care, I had a radio replaced ( the premium covers this and a/c ) since it wouldn't read my cd's then it wouldn't eject then after either. now both vehicles have nav so they will replace them like they did the radio w/o a problem. I have had struts done, ball joints, wheel bearings, leaky seals, bad radiator, etc all done on extended warranties over the years.

 

So are we talking about extended warranty after regular warranty expired (after 3 years) or buying extended warranty right away (when the car is new)?

Its not worth buying when car is brand new. I bought it for my F-150 (7 year warranty), it was about $1,800 and I never used it.
If it's been 3 years and you're thinking about purchasing extended warranty, then I guess it all depends how reliable the car was so far. If you had a lot of mechanical issues, then go for it; otherwise, no.

Just my $.02.

 

I had the Ford 7 year/100,000 extended warranty on my Crown Vic with a $50 deductible. When I traded it in on my Mustang, Ford refunded me the pro-rated balance remaining and I received a check in the mail, much to my surprise.

 

I have the 7 year/100,000 ESP Bumper to Bumper on my 2011. It is just piece of mind if you plan to keep the car for that length of time. This will cover things not covered by the 5 year/60,000 mile powertrain warranty.

It really is a crap shoot, you are buying it with the intention of using it, while Ford is selling it with the intention you will never use it.

 

Exactly: It's gambling, pure and simple. One one hand, you can have it built into your payments to reduce surprise repair bills. But, you're guaranteeing you'll spend that money, regardless of whether you'll end up needing to or not.

It's a numbers and statistics game, and the automaker has the advantage, putting a lot more research and information into their side of the deal than you could hope to.

In the overall picture, extended warranties are not worth it. But, it is still and individual choice, the buyer is certainly free to choose what they can be comfortable with.

 

Im definintely getting my money worth out of it with my 2005 F150 4X4Supercrew FX4..

I thas more then doubled its use..
Cracked exhaust manifold
Heater vent system wasn't functioning
4x4 Solenoid 4x
Catalytic converters
Window mechanism failed

 

For most people, no. It's insurance - most people will never benefit, paying out but never filing a serious claim, but a few will have problems and come out ahead.

 

Typically, according to what I've read, the extended warranties don't pay off (something like only 20% of people break even). -- they are gravy for Ford and the dealership. But only typically. Think of it as insurance (which is really what it is, not a warranty).

If I bought one I'd be **** sure to make them fix every last problem that was covered (in batches if it's small stuff!).

Also, it's debatable if it would raise your resell value. Two major considerations:

1.) is the warranty transferable
2.) will a potential buyer give a chit.

I've always passed.