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Should I Buy The Extended Warranty?

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Old 07-17-2017, 08:25 AM
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Should I Buy The Extended Warranty?

I just picked up my brand new 2017 F250 XLT 4x4 Powerstroke on Friday from the dealership. When I got the truck, I was offered an extended service contract that covers 96 months and/or 60K miles. The price for this was $1900. I declined, but am now wondering if I made a mistake. The salesman said I have until the end of this month to buy into this plan for this price.

I'm a first-time diesel owner, so I'm a little nervous/unsure about the cost of repairs in the future. I intend to keep the truck for at least 8-10 years. I drive it 90% on the road, but the 10% when I go offroad is pretty serious four wheeling (steep, rocky, very rough), and often carry heavy loads and/or haul a loaded off-road trailer.

How do I determine if this is extended warranty is worth the money or not?

Any and all advice and/or experience would be greatly appreciated!
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Old 07-17-2017, 09:04 AM
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With all of the alleged defects these trucks have I might should think about buying a ESP myself. None so far.
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Old 07-17-2017, 09:21 AM
Seastacker Seastacker is offline
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I plan on getting one this fall from one of the online vendors that sell them at a discount (Flood or Ziegler Ford). I figure it will cost me $2500-$3k for the 8 year plan, but one major issue will eclipse that immediately. I tend to keep my trucks for 10 years plus. I trust that this truck will be very reliable, but over the long haul and with the complexity of these trucks this is cheap insurance if you ask me.
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Old 07-17-2017, 09:30 AM
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I always get an extended warranty if I purchase a first model year redesign (which is what our trucks are).

I purchased my 7 year extended warranty from Flood Ford.

I encourage you to check out Flood ford; they are highly competitive on price and it is doubtful your dealer can touch their price.
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Old 07-17-2017, 09:37 AM
tpalmer007 tpalmer007 is offline
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Quote:
Originally Posted by Seastacker View Post
I plan on getting one this fall from one of the online vendors that sell them at a discount (Flood or Ziegler Ford). I figure it will cost me $2500-$3k for the 8 year plan, but one major issue will eclipse that immediately. I tend to keep my trucks for 10 years plus. I trust that this truck will be very reliable, but over the long haul and with the complexity of these trucks this is cheap insurance if you ask me.
What he said. Flood quoted 8 year/100k for $2,110 with $100 deductible for me. 1 mirror stops folding and its $1,400 plus tax and labor... Really a no brainer if you plan on keeping the truck outside of standard warranty.
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Old 07-17-2017, 10:24 AM
KCJackson1 KCJackson1 is offline
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The benefit of the service contracts these days is not so much the mechanicals (engine, transmission, etc). It's for the electronics. One sensor can take your whole truck down, and cost a lot of money just to diagnose. I learned that with my 93 F-150. Was getting light bucking, weird transmission shifting, and some other odd behavior, Check Engine light on. Took it to the dealer where a co-worker's husband was a master tech (he always looked out for my truck when I brought it in). Two hours of diagnostic evaluation - at full per-hour labor - to find out the number 8 spark plug died, and all the other behavior was due to the EEC trying to "compensate". The repair itself took 5 minutes. My Ford ESP covered it all less the $50 deductible. As tplamer007 noted, a mirror failure can be a huge expense because they're all self-contained assemblies that can't have individual components easily replaced... if it breaks, the whole thing has to go.

I don't buy a new truck without one.
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Old 07-17-2017, 11:01 AM
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These days I think an extended warranty makes sense. However, I never consider buying the warranty until the factory bumper-to-bumper warranty is about to expire. If you do purchase an extended warranty I recommend finding out if the unused portion is refundable in the event you do not keep the truck.

Earlier this year I was in an accident (not my fault) and the insurance company totaled my truck (2016 F250 with less than 6k miles). If I had bought an extended warranty I don't know if I would have been refunded any of that expense. I'm currently waiting on my new one to be built, but I plan on getting an extended warranty when the time comes.

I hope this helps.
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Old 07-17-2017, 11:29 AM
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Quote:
Originally Posted by Dom165 View Post
These days I think an extended warranty makes sense. However, I never consider buying the warranty until the factory bumper-to-bumper warranty is about to expire. If you do purchase an extended warranty I recommend finding out if the unused portion is refundable in the event you do not keep the truck.

Earlier this year I was in an accident (not my fault) and the insurance company totaled my truck (2016 F250 with less than 6k miles). If I had bought an extended warranty I don't know if I would have been refunded any of that expense. I'm currently waiting on my new one to be built, but I plan on getting an extended warranty when the time comes.

I hope this helps.
Yes, it should be refunded or transferred to a new vehicle if you buy one.
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