Extended Warrenty Worth it????
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Freshman User
Joined: Jan 2003
Posts: 26
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Extended Warrenty Worth it????
Considering buying an extended warrenty on my new 03 F250. Looking at this place http://www.continentalwarranty.com/ . I have 2 reservations...First should o spend the $1900 to warrenty this thing for 6yr or 100K miles (life of my loan basically) and is this a reputable company to buy the extenion from. I checked Ford Ext Warrenty and is more expensive, although they do have a plan about same price but only drive train is covered. So any thoughts on buying one or taking the chance that these days quality is good enough for many miles and years after the factory warrenty goes away.
Alec
03 F250 SD
Alec
03 F250 SD
Senior User
Joined: Jan 2002
Posts: 176
Likes: 1
From: TEXAS!
I would steer clear of all extended warranties that are not from ford and by ford. And heres why... I purchased a 5 yr/100k zero deductible warranty for my EB expy from WarrantyGold. A few months ago my expy needed repairs so I brought it in for service. I then found out, over the course of many phone calls, that the administrator for the extended waraanty was not no longer who it was when I purchased the plan. And the new administrator NWIG had gone Bankrupt... So the Expy needed a rearmain seal, a powersteering pump and a brake booster. about $1400-$2000 worth of repair and I was stuck with the bill... The ironic thing was I only kept the vehicle, which has about 73k on it now, because I had the warranty. So I ended up selling the thing for a loss and I probably will not be able to get my money back. The moral is I would have been beter off trading the expy for a new one at 36k miles than spending the $2k on a warranty that is now worthless.
Post Fiend
Joined: Jun 2003
Posts: 5,643
Likes: 8
From: NE Texas
Ford Premium - well worth the money. I would advice anyone to get the extended warranty on anything they buy these days. I got the 5 yr/75K for $1200. I used it with no questions asked and never had to fill out any paperwork at all. Go with the Ford ext/warrnty.
Logistics Pro
Joined: Nov 2002
Posts: 4,788
Likes: 20
From: Mansfield, TX USA
Extended warranties are insurance, pure and simple.
How lucky do you feel?
It is all about shifting the risk.
Can you afford a potential big hit? Then maybe you want to save the money and take the risk.
Are you maxed out right now so that a big repair bill will kill you? Then you are better off paying the warranty company to take the risk for you.
How lucky do you feel?
It is all about shifting the risk.
Can you afford a potential big hit? Then maybe you want to save the money and take the risk.
Are you maxed out right now so that a big repair bill will kill you? Then you are better off paying the warranty company to take the risk for you.
Elder User
Joined: Mar 2003
Posts: 616
Likes: 0
From: Farms of Duplin County
I have always bought the extended warranty but only from Ford. No paperwork, free rental car while my truck is being worked on, no hassles. Each one of my ex-warranties has paid off beyond what they cost. To me it's very cheap insurance when you consider the cost of repair and that not every single vehicle will defect/problem free.
Posting Guru
Joined: Jun 2003
Posts: 1,406
Likes: 0
From: West Texas
I haven't ever purchased an extended warranty on a vehicle (luckily to this point I haven't needed one either!) check around there are some companies that even have a money back warranty. We sell them for the vehicles we finance, but you have to purchase it within 10 days of the date of purchase. the way it works is they quote you a price with the moneyback and without it. (moneyback option was a little higher maybe couple of hundred) the deal is that at the end of the warranty if you haven't made a claim against it, they will cut you a check for the original sell price of the warranty. you can decide whether to hold out on those repairs til after you get your refund, or file and have them pay for it. If you want to go with a warranty...in my opinion that is the best way to go. Otherwise, put $2,000 in the bank and if you never have any repairs, use it as a downpayment on the new vehicle next time. I hate to pay for things you never use, but like I said (knock on wood) to this point I have never had to.
Posting Guru
Joined: Nov 2002
Posts: 1,535
Likes: 1
From: I'm lost somewhere in NJ -- can someone please find me?!?!?!?
Don't forget that the warantee price is negotiable, too! I got warantees on all 3 Fords we purchased, and all of them were the "Ford Premium" ones. I managed to knock the price down pretty low compared with what they wanted to charge.
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Laughing Gas
Joined: Jan 2002
Posts: 817
Likes: 54
From: houston
Ford ESP
Search the net for Ford ESP. There are several places that will sell you a Ford Extended Service plan cheap. Close to the cost of the fly by nights. I have an Allstate extended warranty on my Durango and it is a pain to get the dealership to fix things sometime. They have to call to see if the repair will be covered and then sometimes it take all day for Allstate to call them back. So, a one day repair soon becomes a two day repair.
Good Luck.
Just my 2 cents.....
Good Luck.
Just my 2 cents.....
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Post Fiend
Joined: Jan 2002
Posts: 5,859
Likes: 7
From: USA
My opinion stay away from them !
Ford's ESP plan is problably the best of the worst.
they fixed alot but fought alot also!
I had esp on an explorer onetime yrs ago ,they tried to deny claim because I do my own service
and they wanted me to use there service!
Watch out for that ploy!
Rich
Ford's ESP plan is problably the best of the worst.
they fixed alot but fought alot also!
I had esp on an explorer onetime yrs ago ,they tried to deny claim because I do my own service
and they wanted me to use there service!
Watch out for that ploy!
Rich
Logistics Pro
Joined: Feb 2000
Posts: 3,955
Likes: 50
From: Mesa
If you want a Ford ESP then go over to www.ford-trucks.com and find Bobby Williams or Chochise in the Order section. They will sell you one cheap.
Senior User
Joined: Jul 2003
Posts: 114
Likes: 0
FortyFords
It might have been the service advisor you were dealing with at the dealership and not Ford ESP warranty giving you the problem. Some will try to run a bluff on you to get out of a warranty repair because warranty work does not pay as well as customer pay retail. Also they want you to get the "gravy" maintenance work done at the dealership not just the problem warranty repairs.
If you do your own maintenance like I do keep your documentation in order, all of the dated reciepts from parts purchases with mileage written on them and what you did.
On the other hand if a person takes a vehicle in for say a rod knock and upon tear down there is an obvious lack of maintenance and the owner can provide little or no documentation then warranty should decline coverage.
It might have been the service advisor you were dealing with at the dealership and not Ford ESP warranty giving you the problem. Some will try to run a bluff on you to get out of a warranty repair because warranty work does not pay as well as customer pay retail. Also they want you to get the "gravy" maintenance work done at the dealership not just the problem warranty repairs.
If you do your own maintenance like I do keep your documentation in order, all of the dated reciepts from parts purchases with mileage written on them and what you did.
On the other hand if a person takes a vehicle in for say a rod knock and upon tear down there is an obvious lack of maintenance and the owner can provide little or no documentation then warranty should decline coverage.
Last edited by towboat; Oct 1, 2003 at 05:53 AM.