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Extended Warranties: To buy or not to buy?

BEM-S4

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Is there some benefit with Ford to buying the warranty when you first get the car? Most cars I've ever had you can buy the extended warranty anytime before the original expires. Helpful if you don't like the car and sell it, destroy it, etc. no need to tie the money up unless the extended warranty will actually come into play.
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mdonathan56

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Unless something changed I believe Florida residents cannot purchase an extended warranty out of state.
These folks are licensed in Florida. They sell Ford Warrantees at a great price.
 

Beachin 74

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These folks are licensed in Florida. They sell Ford Warrantees at a great price.
That's great! I remember a couple years ago the Florida folks on the F-150 forum was talking about not being able to purchase one from out of state.
 

mdonathan56

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That's great! I remember a couple years ago the Florida folks on the F-150 forum was talking about not being able to purchase one from out of state.
They are right, the seller has to be licensed in Florida. Some of the sites listed on here are not. You have to do a quick check by requesting a quote. As soon as you input FL it will tell you if they can sell in Florida.
 

tyrobronco

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Here is my experience with Ford and warranties.

2011 F150, V8 - bought an extended warranty (I think the cost was 1,600ish). Used $800 of it.
Since the extended warranty is now over with, my repairs since then have amounted to about $600 - still under the extended warranty cost I originally paid. The truck currently has 110,000 miles on it.

2017 Ford Fusion Energi - we bought it used in 2018, hella cheap (18,000 miles). It has what amounts to the Lux Package on the Bronco. Leather seats, heating AND cooling, all the beeps, boops you can think of. Due to the fear of the electronics being an issue, we bought a warranty to cover it beyond the factory it was still under. It is now 2021 (4 years old), no problems with the vehicle so far (now with 48,000 miles).

2005 Ford 500 - my mother gave it to my son when he turned 17. He has had it for 2 years, now. It has 145,000 miles. It has leather seats, moonroof, power everything back in 2005. Guess what - windows and locks still work, moonroof still seals. It does have an oil leak. We patched up part of it for $1200 and for $2400 we could get the whole thing sealed up. Grand total cost: $3600 (about 7 times what the vehicle is now worth).

So I'm really leaning on putting $100 a month into a 'car account' for repairs. When the bumper to bumper runs out, that will leave me with $3600 for any needed repairs.

At the 60 month mark, I will have $6,000 in the car account (minus any costs from 36 months through 60 months).

Is it possible repairs can exceed that amount - of course. But I've been happy with my Ford products and no repair I've ever done has cost (nor estimated) at more than $3600.

Now I had a friend who bought a Dodge Neon and that had problems about a month into owning it - so I get it is possible my Ford Bronco could be a dud. But the odds are certainly in my favor it won't be.

I'm not telling anyone what to do. My brother was a mechanic for Ford and he recommends a warranty. But when I look at what I've spent and what I have gotten in return, so far I would have been better off putting the money into a crappy account and using it for repairs instead of paying interest in something I haven't REALLY needed yet.

Your mileage may vary...
 

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Here is my experience with Ford and warranties.

I'm not telling anyone what to do. My brother was a mechanic for Ford and he recommends a warranty. But when I look at what I've spent and what I have gotten in return, so far I would have been better off putting the money into a crappy account and using it for repairs instead of paying interest in something I haven't REALLY needed yet.

Your mileage may vary...
The reason your brother is recommending you the warranty is so he doesn’t have to work on your car problems, he wants his weekends to himself having a cold one and watching football. ?
 

Rednek

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The reason your brother is recommending you the warranty is so he doesn’t have to work on your car problems, he wants his weekends to himself having a cold one and watching football. ?
As a Ford Technician this is why I think everyone should get ESP,besides Ford Canada is my top customer.lol
 

AZshot

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Is it just me, or does it seem every post that is short seems to be pushing getting one, but ignoring the long posts explaining why they're a rip-off? Seems like a bunch of shills are on here, but I may be imagining things. I would NEVER get another ESP.
 

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Is it just me, or does it seem every post that is short seems to be pushing getting one, but ignoring the long posts explaining why they're a rip-off? Seems like a bunch of shills are on here, but I may be imagining things. I would NEVER get another ESP.
(no, I do not own any Ford stock)
I can't speak for others but did you read my disclaimer?

My current two cars, no, I did not buy the extended warranties, the two before that I did. Its a personal choice, my info is to help those that get suckered into third party warranties, if they choose to buy. My wife's 2000 Honda Odyssey went through four transmissions and were covered by the extended warranty.

You can report back to the Technician's Union your jobs are safe.
 

KJR50

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I can't speak for others but did you read my disclaimer?

My current two cars, no, I did not buy the extended warranties, the two before that I did. Its a personal choice, my info is to help those that get suckered into third party warranties, if they choose to buy. My wife's 2000 Honda Odyssey went through four transmissions and were covered by the extended warranty.

You can report back to the Technician's Union your jobs are safe.
‘14 Odyssey coming up on 100k, ATM fluid drain/fill every other oil change (15k). No problem here.
 

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North7

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‘14 Odyssey coming up on 100k, ATM fluid drain/fill every other oil change (15k). No problem here.
It took Honda about 10 years to keep the transmissions working longer than 30-40K miles. Story was the early ones were undersized for the heavy Odyssey.
 

timhood

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If you have the option, pick a dealer that includes the lifetime powertrain warranty for a glimmer of reassurance. Then take that $3,000 and put it in a Roth IRA. You can have multiple Roths to keep it separate, just label that one Car Repairs. If/when you need the money, you should have more than enough. Your Roth “contributions” can always be taken out tax free at any time and your earnings taken out after age 59 1/2.
You can't take your contributions out unless you've had the account open for 5 years, so I'd probably just put the money in an existing Roth if I was going to go that route.
 

timhood

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I just looked at the Ford ESP site just for fun. Clicked the yellow button for highest option. Clicked Brakes. Read the fine print of xyz being covered then "except for friction items" in parenthesis. "Friction items" kinda covers a LOT, doesn't it?
The warranties are great sales gimmicks. They even have brochures listing a huge number of things that are covered. Makes the buyer feel like "I'm totally protected, this is gold." The reality is it's a giant list of things that rarely, if ever, go wrong. Brake caliper bolts. When in the history of autos can anyone remember those ever braking? ? Then, if something does go wrong, they look for the "normal wear and tear" and "abuse" escape clauses. Then, if they really, really, have to pay up, there's the deductible.

We have a 17-year old F-150 that still hasn't had enough go wrong to have paid for an extended warranty, and that's not counting how much that money has grown saved/invested over the years.
 

timhood

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BTW, I could tell MANY stories from friends over the years of an ESP NOT covering expensive items. Yeah, they'll replace an electronic window motor. But may not cover a total engine failure or transmission. I'm sure in the internet era there are statistics of how many not covered vs covered events occur.
I'll bet the cost of the repair is directly related to how much of a fight they put up trying to pay. Meanwhile, the car you need sits unprepared. Eventually, if you have to have your car, you cave and pay for it yourself, the same way you caved in the finance guy's office when he sold it to you. ?
 

PSUTE

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Had a Cobalt with an extended warranty bought from the dealer. At 60000 the front end started having issues. Went to a different dealer for repair, told him the extended warranty was in the glove box. Paid my $100 deductable on a $900 repair. Ended up breaking even on it.
I will consider an extended warranty a couple of years in. I won't be putting the miles on it others up in here will be, so I will see what/if they have issues and go from there...
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