Ford Ranger Extended Warrenty
#1
05-07-2003, 11:41 PM
Ford Ranger Extended Warrenty
I just purchased a 2003 Ford Ranger XLT through the Xplan and they sold me the 60 month 75,000 mile extended warrenty (high tech classification) for $929.00. There is a $50.00 deductable for each visit. I can cancel at any time according to the finance guy. Should I?
This is my first Ford and my first truck so any advice would be appreciated.
This is my first Ford and my first truck so any advice would be appreciated.
#2
05-08-2003, 03:38 PM
Lead Driver
Ford Ranger Extended Warrenty
I'm not sure what you mean by "high-tech classification." Is this a Ford Motor Company ESP extended warranty, or somebody elses? I'm not much of a fan of non-ford warranties, because those companies usually look for ANY reason to deny you coverage, especially with pickup trucks.
Now, do you need the warranty? Sometimes a tough question, but here's how I look at it. If the factory warranty expires and the transmission drops out a month later, do you have the $3,000 to replace it? If you do, then you don't really NEED the warranty. No one wants to have to spend that kind of money for repairs, but at least you have it to spend. On the other hand, if the budget is a little tight and you're struggling to make the monthly payments on the truck, where is that $3,000 going to come from? In that situation, how can you NOT afford to have the extended warranty?
Now, do you need the warranty? Sometimes a tough question, but here's how I look at it. If the factory warranty expires and the transmission drops out a month later, do you have the $3,000 to replace it? If you do, then you don't really NEED the warranty. No one wants to have to spend that kind of money for repairs, but at least you have it to spend. On the other hand, if the budget is a little tight and you're struggling to make the monthly payments on the truck, where is that $3,000 going to come from? In that situation, how can you NOT afford to have the extended warranty?
#3
05-08-2003, 08:07 PM
Ford Ranger Extended Warrenty
It's a Ford Extended Service Agreement. The back of the contract lists 3 levels of service.
Powertrain
Hightech (includes powertrain)
Comprehensive (includes powertrain & hightech).
The finance guy told me it averaged out to .13 a day over the course of the loan but actually it is more like .50 since the bank added 3 payments to the end of the loan. I guess I'm just trying to weigh factors such as will I keep the truck this long and researching common problems that occur in Rangers. The truck is automatic.
Powertrain
Hightech (includes powertrain)
Comprehensive (includes powertrain & hightech).
The finance guy told me it averaged out to .13 a day over the course of the loan but actually it is more like .50 since the bank added 3 payments to the end of the loan. I guess I'm just trying to weigh factors such as will I keep the truck this long and researching common problems that occur in Rangers. The truck is automatic.
#4
05-08-2003, 08:23 PM
Lead Driver
Ford Ranger Extended Warrenty
Maybe Ford offers different types of warranties in different states, because I've never heard of the coverages you're describing. Are you sure this warranty is from Ford Motor Company? And why would the bank add 3 payments to the end of your loan for the warranty? I've NEVER heard of anyone doing that! If you signed for a 60-month loan, then it's 60 months, not 63. They can't just go ahead and change that after you've signed the contract.
As for the truck, Rangers are pretty reliable. You won't need this contract because the truck's going to be in the shop once a week- like I said, you only need the warranty if you can't afford the cost of potential repairs down the road. It's like health insurance: imagine how much more you'd have in your paycheck every week if you dropped your health coverage. You don't ever plan on getting sick or injured, right? But I'l bet you don't plan on dropping that insurance any time soon.
As for the truck, Rangers are pretty reliable. You won't need this contract because the truck's going to be in the shop once a week- like I said, you only need the warranty if you can't afford the cost of potential repairs down the road. It's like health insurance: imagine how much more you'd have in your paycheck every week if you dropped your health coverage. You don't ever plan on getting sick or injured, right? But I'l bet you don't plan on dropping that insurance any time soon.
#5
05-09-2003, 08:40 AM
Ford Ranger Extended Warrenty
Why not cancel the plan now and then before the end of the reg. factory warranty ends, decide if you want the ESP. If you do, then price it locally or on the www. We saved about $300.00 on a Ford ESP by buying it from a Ford dealer in NJ over the internet.
If this is acceptable, here is the dealer's name:
Down's Ford
Phone: 732.349.2240 - E-mail: info@downsford.com
http://www.downsford.com/esp/index.htm
There is a surcharge if you decide to buy it later, but it still was $300.00 lower than local dealers or Ford's on line ESP price.
..."(Please note that the vehicle must still be in the basic warranty period, 3 years or 36,000 miles, to be eligible for most ESP coverages)..."
If this is acceptable, here is the dealer's name:
Down's Ford
Phone: 732.349.2240 - E-mail: info@downsford.com
http://www.downsford.com/esp/index.htm
There is a surcharge if you decide to buy it later, but it still was $300.00 lower than local dealers or Ford's on line ESP price.
..."(Please note that the vehicle must still be in the basic warranty period, 3 years or 36,000 miles, to be eligible for most ESP coverages)..."