Thoughts on extending the Ford warranty?

[EdRudy]

IMHO, extremely overrated.

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[BennyTheBeaver]

It depends who you ask and their opinions.

On a Gen 1 EV product, I find it very valuable to have piece of mind down the road.

 

[brewski]

Nope I'm required to have homeowners insurance due to terms of my mortgage That's not the same argument.

He did say assuming it is paid off…

 

[Lytning]

So, what is the going consensus... extended warranty good, or overrated?

The risk of having to replace say, the touch-screen interface system at what would be thousands of dollars, and realizing that I am a Beta tester for Ford's first fully electric truck, was too much to ignore. I paid $1615 for my Premium ESP in July. It was an easy decision for me. It is your money, so spend it according to your values.

 

[RickLightning]

While justifying the purchase of an extended warranty based on expensive components may be viable, the outlay of that money prior to expiration of the ability to purchase said warranty is not.

Assuming the current 3.5% savings interest rate, and a rough cost of $1,000, in 3 years I'd earn basically the "penalty" for not buying the warranty in the first year. I'd have the same warranty extension, won't have laid out the cash when it wasn't needed, etc.

The only viable reason to spend the money right after buying the vehicle is to get the first day rental, and my dealer already gives me a free loaner or his car.

 

[SmoothJ]

I usually don't keep vehicles longer than 3 years due to manufacturer planned obsolescence, and me liking the latest and greatest. However I might take the plunge and keep it this time. So knowing there is a 8 year/100K warranty on the battery already (and that can't be extended), I might just "match" that with the Bumper to Bumper too.

There isn't much mechanically that could go wrong, I know that. However for the piece of mind, and knowing this is a computer on wheels, I think I might take the plunge. I have been in IT long enough that memory fails, and components wear down over time - and thats stationary, in a cooled space with low relative humidity. This truck is a complete opposite of that....

 

[jimfigler]

A vehicle service contract is an insurance policy. Nothing more and nothing less. Assuming that your house is paid off (assuming that you own your home) think about your homeowners insurance. We purchase it and hope we never need it. But when you do, it’s there because of the potential for a catastrophic loss.

This comparison is pretty much a stretch. If components of your home fail your homeowners won’t cover it. Your furnace, water heater or AC crap out your homeowners aren't helping you. But your heater, motor cooling or AC go in the truck it’s covered. But If a tree fails on your house it’s covered, if a tree fails on your truck your service plan isn’t helping. Homeowners insurance is more like auto insurance

 

[jimfigler]

So, what is the going consensus... extended warranty good, or overrated?

In all my years of buying at least 16 new cars between myself and my wife an extended service plan would have helped me ZERO times.

 

[LUXMAN]

I paid for one on my Leaf. Had it 6 years and 70k miles (shoulda kept it), and it paid for exactly 1 gas strut on the lift gate.

But I do see the warmth provided by an extended warranty. So I am not sure what I will do as my almost 5 year old Model 3 is outta warranty except the battery warranty, and I currently have a degraded Power Conversion System. It will only charge the car at 32 amps vs 48 amps. they want $1650 to replace it. Now, I only charge at 30 amps at home and work, so I dont need to fix it, except for the fact that one or both of the remaining channels may fail and leave me charging at 16 amps or ZERO amps.

 

[HaroldCal]

A big part of whether it's a good deal for any given person depends very much on their aversion to risk. If the thought of a $5k repair makes you soil yourself, get the warranty. If that same repair sounds like a gamble you could afford to lose on, then don't get the warranty.

I had premiumcare for my 05 F350 diesel, and it paid for itself the first time I had to replace injectors. It paid for itself many many times over. And it saved me during a time that I couldn't have possibly afforded those repairs.

Today, I'm less strapped for cash than I once was. I can swing an emergency repair if need be. But that doesn't mean I will want to. There is something to be said for the peace of mind of not having to care. And the zero deductible is the way to go. That way, you don't get nickel and dimed for every little thing.

 

[ericpullen]

Just my $0.02:
I usually don't buy extended warranty's as I tend to work on my own car a fair amount, but for the price I decided to do it for the Lightning due to it being a first model year. I paid $1430 for the 8/100k with $100 deductible and I did keep the interior/exterior lighting, and since I keep my vehicles for a quite a long time (my 2010 F-150 had 225k when I sold it before I got the Lightning).

I'm not sure if it will pay for itself, but I wanted the peace of mind and that was worth the $1430 to me.

 

[Lightning Rod]

I paid $1430 for the 8/100k with $100 deductible and I did keep the interior/exterior lighting, and since I keep my vehicles for a quite a long time (my 2010 F-150 had 225k when I sold it before I got the Lightning).

This sounds like the deal for me. Is there a pdf or a chart that details what it covers and also, where did you purchase this warranty? It looks like too great of a deal for what my dealer would offer lol.

Thanks.

 

[ericpullen]

This sounds like the deal for me. Is there a pdf or a chart that details what it covers and also, where did you purchase this warranty? It looks like too great of a deal for what my dealer would offer lol.

Thanks.

I got mine from Flood Ford, but I believe it has increased since I bought it back in July.

 

[Lightning Rod]

I got mine from Flood Ford, but I believe it has increased since I bought it back in July.

Gonna look into this.

Thank you.

 

[jimfigler]

A big part of whether it's a good deal for any given person depends very much on their aversion to risk. If the thought of a $5k repair makes you soil yourself, get the warranty. If that same repair sounds like a gamble you could afford to lose on, then don't get the warranty.

I had premiumcare for my 05 F350 diesel, and it paid for itself the first time I had to replace injectors. It paid for itself many many times over. And it saved me during a time that I couldn't have possibly afforded those repairs.

Today, I'm less strapped for cash than I once was. I can swing an emergency repair if need be. But that doesn't mean I will want to. There is something to be said for the peace of mind of not having to care. And the zero deductible is the way to go. That way, you don't get nickel and dimed for every little thing.

Exactly. If $1500-$2000 gives you peace of mind then it may be worth it.

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