Just purchased a 2004 F150 FX4. I really like the truck - this is my first 4x4 pickup. Shopped all the other major trucks, but kept coming back to the F150. Anyways, I can pickup an extended warranty that will give me 6 years and 100,000 miles for $1700. What do most people think about purchasing this warranty? I have 12 months or 12k miles to make the decision at the same price. Thanks
Congrats on your new truck! You'll love it... as for the extended warranty, I'd get it. I got the extended warranty for $1,800 for 5 years or 100,000 miles. This is my second new vehicle and I also got warranty on the first and was well worth it. Although you don't want your vehicle to break down, it might happen. The warranty has other benefits as well, like free towing, extended roadside assitance, car rental if your vehicle needs to be in shop for more than 1 night, etc. I'm happy knowing if my vehicle breaks down, I wouldnt have to pay anything (if it's a covered item.. usually will be).. I also got a $0 deductable.. try and get that too if they haven't offered it. Hope this helps!
I am in the same boat with you LAL426. I am still deciding if I should purchase the additional protection. MX2004 highlighted many of the reasons why you should get it. The way I look at it... do you think you will encounter $1700 worth of repairs in that timeframe?
I say don't buy the extended warranty. I have bought many new cars and trucks and they always try and sell the extended warranty. First of all if the odds were that your vehicle would break down they could not sell the warranty for what they sell it for. It would not be profitable for them to do so. They are gambling that your truck will not break down, and they will make an extra 1700 dollars off you. Today's cars and trucks are so reliable that they have no problem making a 100,000 miles. The only way that I would buy the warranty is if just before my factory warranty went out I was having lots of problems with my truck. If you don't have any problems by 36,000 chances are you aren't going to have any major problems before a 100,000 miles. I have a 99 Super Duty that I did not buy the extended warranty on and it has 80,000 miles on it with no problems yet. On the 91 F-250 I had before the Super Duty I drove it about 85,000 before having any problems, and then it only cost me about 250.00 dollars. Way cheaper than the cost of the extended warranty.
I think that buying extended warranty is like buying insurance. You probably wont need it but you never know. It's a gamble.
If you do decide to buy extended warranty though I would only get genuine Ford warranty. IMO most aftermarket warranties are hardly worth the paper they are printed on.
In my 00 jetta I had about $4,000 worth of repairs in 100,000 miles which was used within 4 years. That warranty was only $1,000. To me, I'd rather Ford make a profit if my truck doesn't break down, than having to spend more than $1700 in repairs if it does. Just my $.02
I'd check www.warrantydirect.com for pricing. They have a great reputation and I've had several of their warranties. They always pay with no hassles. I paid about $1100 on my 02 Concorde LXI and within one year had almost $3000 worth of repairs!
I could nopt believe it that my automotive insurance carries an extended warranty for about $300 when done for 6/100,000 that picks up ford had offered for its warranty. Now I am not sure about if that goes as a claim or not. I also found out that in the state of WA. you can get GAP insurance through GEICO as well for free if you ask!
I certainly wouldn't buy an extended warranty while the truck is under its own warranty. That's a waste of money. Wait until the truck is almost off its own warranty because you never know...in the mean time you may wreck the truck, sell the truck, or it could be stolen.
I agree with Cruel on not buying it till you have to. I leased my truck and figure on selling it myself when the time comes at 30-36k. Even at that I might give the buyer the option of buying it or not..
About those prices..... Any Ford dealer can sell you the warranty so call around for better prices. When I was selling Ford trucks in the late 80's the mark up on warranties was about 55-60%. So a 1700.00 warranty costs the dealer about 700-800 bucks. There are wild profit margins on all the after sell crap... You wouldn't believe what the dealers used to make on rustproofing and seat and carpet coatings... A dealer in Cali can sell you the same warranty even if you live in NY. When you call ask for the F&I guy...
I'd have to side with the "nays" myself. I am against all that extra warranty stuff in general. Nowadays if you go to Best Buy they try and sell you the warranty for even the smallest of purchases ( I just got the pitch on an MP3 player for $100). If you tend to buy warranties with appliances, cars, electronics and more in the end you will ALWAYS pay more for your warranties overall than in the repairs to fix them as the odds are NOT in your favor. I decline all warranties on new products as I figure even if one of them breaks down, its cheaper than buying warranties on everything to cover them. Just my stubborness I guess.
I had bought the extended warranty on my 96 ranger when i bought it, 5 year 75,000 mile at the time, and only used it once for a lock tumbler that went out which would have cost me a mere 50 bucks total to fix had it not been for the warranty. that the only thing that happened during warranty, so in essence i paid 1000 bucks to get that tumbler fixed. Everything else, when the gaskets blew, happened after the warranty was up. I say no. I just kept the basic 36/36 bumper to bumper warranty on it for now ono this one.
My 2004 F-150 was my 7th new vehicle purchase in 15 years. Never bought the extended warranty until getting the F-150. Decided on Ford premium ESP for 6 yrs/60,000 miles for $1850. Just about anything non-routine is going to cost you $200-300 just to pop the hood.
Most of the time, I wouldn't have gotten my money's worth out of the extended warranty because we traded vehicles after 3-4 years, and no major repairs cropped up. What changed my mind on the new truck purchase was a boatload of unexpected repairs on our 1999 Olds minivan, with excellent maintenance history and only 55000 miles. The total this year has been over $2500. Wrong manufacturer and wrong forum to burden everyone with all the gory details. Should've stuck with Uncle Henry. That extended warranty sure would've been nice to have this year.
Decided to get the warranty on the truck since I intend to keep it for 8-10 years (kids will be in college - - ouch on the wallet!).
My vote is if you buy new and intend to trade in 3-4 years, then don't get the extended warranty. If you want to keep the vehicle for more than 5 years, you will be money ahead by buying the ESP.