View Poll Results: Extended Warrenty, worth it or not
yes, Its worth every cent
11
39.29%
no, dont waste your money
17
60.71%
Voters: 28. You may not vote on this poll
Extended Warrenty
Senior User
Joined: Dec 2005
Posts: 185
Likes: 1
If whatever it is didnt fail in the first three years you probably at least know that there is a problem area that you should give attention to before its to late. Extended warrantys dont mean a thing if you trade it in. The dealer will TELL you otherwise when trying to get you to buy it!!! But when time comes they'll be QUICK to say. Theres really no way we can give you anything for that.
Posting Guru
Joined: Dec 2004
Posts: 1,713
Likes: 16
I just voted that it was a waste of money.
Having voted , I do admit that when I picked up my factory order, I did buy the extra warranty for the following reason.
On your normal warranty, when you break down and they do not have a courtesy car available you have to pay for a rental. I did this 3 times with my 04 6.0 litre and it is very expensive to rent a vehicle for a full week which is what the lemon 6.0 was in the shop for every time it died.
With this extra warranty , they have to supply a courtesy car.
Now before people start saying their dealer gives them a courtesy car on a regular warranty, if you make an appointment for service work, they will give you a car if they have one available, just to keep your business. When you break down and all their courtesy cars are being used, they do not have to get you one. Some dealers will , but they don't have to. The plan I bought guarantees I get a car.
With the reliability of the V10, I think I wasted 1200 bucks, but heck when I was young and stupid a good drunk cost me as much.
Having voted , I do admit that when I picked up my factory order, I did buy the extra warranty for the following reason.
On your normal warranty, when you break down and they do not have a courtesy car available you have to pay for a rental. I did this 3 times with my 04 6.0 litre and it is very expensive to rent a vehicle for a full week which is what the lemon 6.0 was in the shop for every time it died.
With this extra warranty , they have to supply a courtesy car.
Now before people start saying their dealer gives them a courtesy car on a regular warranty, if you make an appointment for service work, they will give you a car if they have one available, just to keep your business. When you break down and all their courtesy cars are being used, they do not have to get you one. Some dealers will , but they don't have to. The plan I bought guarantees I get a car.
With the reliability of the V10, I think I wasted 1200 bucks, but heck when I was young and stupid a good drunk cost me as much.
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FTE Leadership Emeritus
Joined: Jul 2002
Posts: 42,561
Likes: 423
From: Long Island USA
Should have put in a "don't know yet" 
I have it, and learned after the fact that it wasn't what I thought it was. It was just a "drivetrain" warranty. I was under the assumption that it was a full bumper-to-bumper.
My boss extended it for an extra year because the lease is 4 years.
And it's got a $50 deductible.
What I'm trying to say (finally) is that if you DO get one, make sure you have it in writing, and check up on it afterwards with an OASIS report and make sure it matches up to the paperwork.
I would have already used it if I trusted dealer techs, if in fact "drivetrain" includes front axles/bearings. My "inner spindle bearing" that the axle rides in dried out way early and almost ruined the axle. If I hadn't re-finished it by hand (3 hours) with wet-dry sand paper (all the way to 1000 grit), the axle stub would have had to be replaced.
Me, I'd almost WANT the motor to blow, so I can (quietly) rebuild it, port heads, get headers, etc
I have it, and learned after the fact that it wasn't what I thought it was. It was just a "drivetrain" warranty. I was under the assumption that it was a full bumper-to-bumper.
My boss extended it for an extra year because the lease is 4 years.
And it's got a $50 deductible.
What I'm trying to say (finally) is that if you DO get one, make sure you have it in writing, and check up on it afterwards with an OASIS report and make sure it matches up to the paperwork.
I would have already used it if I trusted dealer techs, if in fact "drivetrain" includes front axles/bearings. My "inner spindle bearing" that the axle rides in dried out way early and almost ruined the axle. If I hadn't re-finished it by hand (3 hours) with wet-dry sand paper (all the way to 1000 grit), the axle stub would have had to be replaced.
Me, I'd almost WANT the motor to blow, so I can (quietly) rebuild it, port heads, get headers, etc
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Tuned
Joined: Jul 2005
Posts: 424
Likes: 70
From: Somerset NJ
Originally Posted by Big Cheese Stick
Extended warrantys dont mean a thing if you trade it in.
Senior User
Joined: Nov 2003
Posts: 435
Likes: 0
From: MASS
the ford xtend warranty I had on my 01 sd really paid for itself and
saved me a ton of $$ --but i think it makes a difference if you are working
your SD daily or just use it as a pleasure vehicle-- and also the mileage and
years you own it--I plan to keep my 05 for about 5 years and rack up about
100k miles in this time-- working it every step of the way
so yes I opted for the xtend warranty
the best way I have heard this explained is with the old ball joint job
we will all likely need them replaced in the 50-80k mile bracket
4 joints\new axle seals \alignment\ 700-800 bucks
saved me a ton of $$ --but i think it makes a difference if you are working
your SD daily or just use it as a pleasure vehicle-- and also the mileage and
years you own it--I plan to keep my 05 for about 5 years and rack up about
100k miles in this time-- working it every step of the way
so yes I opted for the xtend warranty
the best way I have heard this explained is with the old ball joint job
we will all likely need them replaced in the 50-80k mile bracket
4 joints\new axle seals \alignment\ 700-800 bucks
Posting Guru
Joined: Mar 2002
Posts: 2,245
Likes: 16
From: Vancouver Wash USA
extended warranties;
Big, nasty, world dominating insurance co; "OK stockholders, let's get into the extended warranty business"
"25,000 2002 Ford F350 pick-ups (example only). In 4 years average cost to repair all breakdowns PER vehicle was $564. So we will cover that, add 100% for profit and 100% for dealer profit/commissions. And the best part is we'll reject 35-50% of all claims because the buyers will never follow the fine print exactly, so they'll be out of contract. Which will give us a 166% return on investment. We win big, the dealerships make big commissions and occasionally get some extra service business. It's a win/win situation for us"
So, let me think this through; the odds of me spending even 33% of the cost of an mechanical breakdown insurance policy are small. I take the $1700 and put it in an interest bearing acct. After 10 cars purchased I'll have $50,000 in the bank, if I get a catastrophic breakdown I'll buy a new Jag. Seems logical to me.
"25,000 2002 Ford F350 pick-ups (example only). In 4 years average cost to repair all breakdowns PER vehicle was $564. So we will cover that, add 100% for profit and 100% for dealer profit/commissions. And the best part is we'll reject 35-50% of all claims because the buyers will never follow the fine print exactly, so they'll be out of contract. Which will give us a 166% return on investment. We win big, the dealerships make big commissions and occasionally get some extra service business. It's a win/win situation for us"
So, let me think this through; the odds of me spending even 33% of the cost of an mechanical breakdown insurance policy are small. I take the $1700 and put it in an interest bearing acct. After 10 cars purchased I'll have $50,000 in the bank, if I get a catastrophic breakdown I'll buy a new Jag. Seems logical to me.
FTE Leadership Emeritus
Joined: Jul 2002
Posts: 42,561
Likes: 423
From: Long Island USA
Originally Posted by ken04
After 10 cars purchased I'll have $50,000 in the bank, if I get a catastrophic breakdown I'll buy a new Jag. Seems logical to me.
Whatcha gonna get an X-series?
Senior User
Joined: Mar 2005
Posts: 183
Likes: 1
It's like gambling. The only sure bet is that the house always wins. Funny how it works that way when you set the odds... Anyway some people will win and the company underwriting the warranty will lose money. The majority will never use an amount anywhere near the premium they pay. (Remember the underwriter made the rules.)
So this means that most people will receive less benifit than the premium they paid for the warranty. I decided to hope I'm in the larger group and not buy the warranty.
So this means that most people will receive less benifit than the premium they paid for the warranty. I decided to hope I'm in the larger group and not buy the warranty.