Did you buy an extended warranty?

[RocketGhost]

I bought the warranty for my 18 F150 and it paid for itself. Had a few repairs on it, but the big one was the sunroof module that broke. The module alone would have cost more than the warranty.

The biggest motivation for getting the warranties is that to me they are cheap. I'm going to get a 10/100 warranty on my Lightning and it's less than $2,500. That seems like a steal. Basically an extra 7 years of bumper to bumper. There's a lot of things on the Lighting that cost more than $2,500 to fix.

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[Madtroniks]

The 2 warranties I would consider is direct with Ford or with Fidelity warranty services.

I would consider getting an extended warranty because of how few places would work on an EV after the basic warranty expires. The cost for labor and parts / availability will also be an issue.

It's better to just hedge your risk and get a reputable warranty from a dealer who charges minimal mark-up but deals in volumes.

 

[davehu]

I got B2B for 10 years/150,000 miles. I fully intend to drive Sparky for at least 10 years.

 

[Danface]

Ditto on the first extended warranty, figured it was short money if something on a new tech vehicle went south.

 

[Mcgyverrod]

I totally agree with the above, I got a B2B which I negotiated lower than asked because I was aware of what Ford charged and only gave them a little mark-up which they agreed to. With the new tech and limited service availability, I also felt that this was a wise investment, although I thought it was just for 10 years or 100k miles. I need to re-check my warranty to see if I am wrong. Bad thing is that I have 12k miles in 9 months so I might run out at 6+ years!

 

[strmwzrd]

I normally don't buy the extended warranty, but I did on this truck. My 23 lightning is the 2nd year of production and if I need a repair in year 4 I can't just take this truck anywhere but the dealer. One repair to the cooling system or replacing a light bar will pay for itself

7 Months in and my 2023 already had two warranty repairs to electronics (wiper sensors and brake controller)--it spooked me into buying the warranty with the lights option too.

 

[Montecarlossfan]

Bought 8yr 100k from granger to Match the EV components including lighting .. figured by then something is replaced.. saw it happen on father’s 3.5 yr old ford edge, blank radio and cost $2000 in modules…

 

[CavRider]

No. Absolutely not

For more than 25 years we've been putting all extended warranty, GAP insurance, etc money into an investment account--our "self-insurance account"--instead of giving it to these already rich companies. We have never needed to pull anything out of it.

We now have enough in this account to replace any item that could possibly need replacing. It'll be part of our retirement.

This is the way.

 

[OG_Ragnar]

I bought my first extended warranty at the Ford dealer and got ripped off big time. When I realized that I could get the same thing from Granger for less than half the cost at the dealer I immediately contacted the dealer to cancel. At the point of sale, the dealer finance department made it sound like it was super easy to cancel, but it took multiple calls to get the cancellation paperwork, and after I completed it and sent it in, they sat on it for three weeks and didn’t even submit it in until I called about another issue and pushed things further up the chain. Still haven’t received a refund almost a month later too. I still plan to put a 8yr/100k warranty on my Lightning - wish I had known about Granger before my purchase!

As an aside, I should have known this dealer was dodgy when some of our purchase paperwork contained another buyer’s name, and we didn’t come home with any completed sale paperwork.

I’ve had multiple other issues with this dealer too, but I do love the truck and I did ultimately get the best vehicle price I could find, rip-off extended warranty notwithstanding.

 

[mkj5013]

For those of you that went Granger, which plan did you get? It kind of stinks that an 'extended warranty' starts the time you start the policy and doesn't just extend past the end of the shortest warranty the truck already comes with. They also have base car, extra care, and premium care and I can't tell from the description which one is best for an electric truck. Since the batteries are covered by Ford for 8/100K, I want something to match that for the rest of the truck for the most part but don't know which one that would be. With new tech, I'd like to make sure I'm covered even though I don't usually go for the extended warranties. Thanks!

 

[hturnerfamily]

As an insurance agent, agency owner, and car/truck owner now for over 40 years, I not only would never have a need for an 'extended warranty', since the warranty for most vehicles now far exceeds the concern in worrying about 'repairs' afterwards, but the simple fact that most of us NEVER keep a vehicle for that long also helps make the idea of 'extended' warranties fruitless.
Sure, there will always be a few exceptions, and a few 'horror' stories about something 'major' that happened to someone, but the fact is, if extended warranties were so 'profitable' for owners, the companies would not be making so much money selling them. They SELL them. SELL. SELL is a verb, it is not meant to be an 'investment', except for the company SELLING them.

You are not investing in the future, you are simply giving your money away.

Keep your 'deal' of a $2,500 purchase and save that in your own account. And, IF there were to be some type of useful situation in the future, MANY YEARS down the road, you'll have plenty of money to pay for it yourself, or, better yet, if you've SOLD that vehicle, you'll KEEP EVERY DIME you would have otherwise given someone.
Even better, statistics show that BY FAR no owner will EVER use a single penny of their 'extended' warranty they paid so much for, many years ago.

 

[TaxmanHog]

I've had extended warranties in the past, not on every vehicle, but a couple, one was on a Harley which had just introduced a new high performance 110 ci engine with a redesigned 6 sp transmission, it had several problems over the 5+ years of ownership, to the tune of triple the value paid for the extended coverage.

My trucks tend to be held 5-10 years at a run, with all the technology in a modern F150, there is bound to be a few failures beyond the first 3 years of factory coverage, the subsequent 5 years may see no issues and I'm out the funds paid maybe break even or see substantial savings, it's a crap shoot, definitely not a certified investment.

We have had full coverage insurance on all our vehicles over 30+ years with only 3 damage claims, no liability suits against us, no damage to other people's property, some of this coverage is mandated by Mass GL, it feels like money down the drain, except when the unexpected happens then you're glad you paid for that policy.

 

[Daragh]

An extended warranty is no different to any insurance policy, you don't buy it to get value for money you buy it to cover major unexpected/unforeseen expenses, in other words your limiting your liability for repairs for a fixed duration in the future.

To those that say its wasted money, thats ok thats your view and its perfectly valid, to those who purchased an extended warranty, thats equally ok. Personally I pick and choose if/when to purchase insurance (extended warranties are insurance) depending on the cost of the item and the amount of time I expect to have it. Plus it'll make selling my truck a little sweeter given the extended warranty can be transferred to any new owner.

As with some others I have full coverage insurance on all my vehicles because thats what I feel comfortable with.

I purchased an extended warranty from Granger for both of my F150's (Gas and EV). Will I recoup the costs, no idea, but I do know that for the next 10 years my max out of pocket for any warranty issue will be $100 per issue.

 

[Zprime29]

I bought a 100k mile warranty on my Subaru Legacy, completely forgot about it but was also very upset with the dealership and didn't really want to deal with them if I didn't have to. When it came time to trade it in, I was at 103k miles or a couple months past the 100k mark. I paid $2000 for the warranty and when they evaluated it, they told me that they would have to knock off $3000 on the trade in due to things that the warranty would have fixed had I brought it in earlier. So it would have paid off...had I remembered.

I plan on keeping this truck as long as possible, 20+ years. So I bought the 10yr/150k warranty and you can bet money that when I get to 140k I'm taking it in to get looked over
I didn't buy an investment, I bought peace of mind. Even if I don't make any claims, it was worth it.

 

[invertedspear]

I normally agree with the idea that extended warranties are a waste of money. But this is the first vehicle where a warranty (specifically from from Granger) to match the battery is cheaper than a single tail light would cost me over the counter in the parts department. I'm sure it's going to take several years for the 3rd parties to start making the parts for cheaper.

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