Extended warranty or no extended warranty

[2fast4u]

Worth it. I just got a 8yr/100,000 on my 2021 Shelby gt500

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[goatman]

Basic insurance is required. Optional insurance equates to to a trip to your local casino at best.
People have to create a balance between playing the odds and insuring. You can insure your home for double the value but you would never be able to collect it. Folks do it all the time.

Why do you think auto dealers push so hard at the closing of the vehicle deal? These extra add ons are extremely profitable. At who's expense?

Bottom line here is if you are so afraid that any out of warranty repair (after 3-5 years of ownership) is going to be catastrophic for you, then that tells me your total financial situation is frail. Anyone in this situation should't be buying anything that resembles a 2021 Bronco Toy. This is way, way beyond anyones needs and adding the extended warranty to it's purchase is just one step closer to financial suicide.

My comment was related to your comment that "they offer them to benefit themselves, not you". To that statement, what I said applies. Every product and service that exists is there so someone can earn a living, providing something that people will pay for. They are not all in it just for themselves. And, I agree that people have to make their own choice about how much insurance they carry. My comment was about your comment that the people who offer it are inherently bad. Strongly disagree. They are folks trying to make a living and pay their bills and feed their families. If enough people didn't want the product, then that job wouldn't exist for them.

In my shop we do quite a few repairs for people that have extended warranties. Those people are happy they have the coverage. Personal choice. I have not purchased an extended warranty before. I buy mostly older used vehicles. The new vehicles I've bought for my wife are always leases and we don't have it long enough to get the warranty. For this Bronco, since I'm paying for it, and since I'll keep it a very long time, and because it's a new product, and because there is SOOO much really expensive stuff on it to fix, I will consider the extended warranty. For a bottom line price. And, even if I don't get it, I won't criticize those who do, or the people who offer them. JMHO

 

[HorizonHunter]

I do extended for the electronics (infotainment). So pivotal in modern cars, and not something that you can just wrench at when it breaks. Had my unit replaced twice with it in Jeep.

 

[BennyBronco69]

I will. Got it on my blazer with a $100 ded for life of the loan.

Doing same for Bronco.

 

[Mr. Nice]

My comment was related to your comment that "they offer them to benefit themselves, not you". To that statement, what I said applies. Every product and service that exists is there so someone can earn a living, providing something that people will pay for. They are not all in it just for themselves. And, I agree that people have to make their own choice about how much insurance they carry. My comment was about your comment that the people who offer it are inherently bad. Strongly disagree. They are folks trying to make a living and pay their bills and feed their families. If enough people didn't want the product, then that job wouldn't exist for them.

In my shop we do quite a few repairs for people that have extended warranties. Those people are happy they have the coverage. Personal choice. I have not purchased an extended warranty before. I buy mostly older used vehicles. The new vehicles I've bought for my wife are always leases and we don't have it long enough to get the warranty. For this Bronco, since I'm paying for it, and since I'll keep it a very long time, and because it's a new product, and because there is SOOO much really expensive stuff on it to fix, I will consider the extended warranty. For a bottom line price. And, even if I don't get it, I won't criticize those who do, or the people who offer them. JMHO

I'm not implying anything other than extended warrantees, Gap ins, and all the other "dealer lusted" after add on's are mostly targeted at the folks that can least afford them. The folks that can honestly afford them don't need them. It' a conundrum that everyone needs to workout for themselves. Just trying to provide some insight that could help.

If people chose to purchase extra goodies as mentioned, that's fine. Most probably will just roll it in their payment for the term adding insult to injury. As you said "personal choice".

 

[HoosierDaddy]

As the saying goes goes. If you think insurance is expensive, try not having it.

I might like coverage out to 50/65 thousand miles....due to the way modern cars are engineered, I think I'm going to move to a system where I replace the vehicles at that point.
Driving them to zero value and paying the upkeep to have them that long isn't working out at replacement time.

 

[shimmy825]

Ford service advisor here- the way I explain extended warranties to my customers is with a metaphor: Buying an extended warranty is like going to Vegas and playing the slots. If you play long enough you always end up losing, you can't overcome the house edge. That said, you never know when you're going to pull that handle and hit a jackpot. It's the same with warranties, the difference between what they take in vs what they pay out is what they call 'profit'. You might get lucky and get the odd jackpot, but if you play long enough the house always wins. That said, an extended warranty may still be a good thing for you- if what you need in your life is predictable finances, get the warranty and feel comfortable knowing that between a good warranty and good insurance you shouldn't have any large, unexpected expenses. On the other hand, if you have the resources to handle a large repair bill if necessary then in the long run you'll spend less money by paying for repairs as you need them.

Triplecare, Ford's paint, tire and windshield protection is worthless, pain in the ass junk.

Premiumcare Maintenance contracts are also junk, they force you into using inferior motorcraft parts (Brake pads, wipers), they control how the maintenance is performed (For instance, if your rotors are above minimum safe thickness they're getting resurfaced not replaced, period), and if you have a normal duty plan set up for a 7.5k interval they will underservice your vehicle.

Wow! Super helpful. Better to pay out of pocket as needed I see

 

[Carolina Jim]

 

[Kevers]

It does not. It runs concurrently.

This is why they aren't worth it, you are just overlapping your existing warranty. If you want it buy it closer to when the factory warranty expires.

 

[Theowlhoothoot]

Need opinion on buying the ford extended warranty and tire protection?

We had it on the Bronco Sport before we traded it in and would not buy it again. It really doesn't cover THAT much. It is fully refundable, but the one time we needed to use it to grab a rental they told us to pound sand.

If you do buy it, don't buy it from the dealer and shop / compare. We ended up getting gap and doubling the mechanical warranty from our credit union for about 2k or so.

 

[Losy]

Need opinion on buying the ford extended warranty and tire protection?

i had one on my gen 1 Raptor and got my money's worth. Even w I broke some of the steering parts off roading Ford covered it.
I am going to add it for the Bronco when I purchase it.

 

[BroncoAZ]

First year of a new product and high package on mine makes the extended warranty mandatory for me. I’ll likely do the 8 year 100K from flood Ford with the key and LED add ons. There is so much expensive tech in this truck that could fail over time, not to mention the MIC top issues down the road, the $2K on the warranty is money well spent on my $50K purchase. I choose the $50 deductible option, it pays off in something like three visits compared to the $200 deductible. I could certainly afford to pay as I go rather than buy this insurance, but extended warranties have paid off for me in the past:

2006 Dodge 2500 diesel, warranty cost $1700, paid $4500+
2009 VW Jetta TDI, warranty cost $2300, paid $9000, got a $1100 refund when I sold the car
2011 VW Touareg TDI warranty cost $1800, paid $5000+ before the vehicle was bought back for 80% of MSRP after 7 years
2015 VW Passat TDI dieselgate 11/162K warranty cost $0, paid $4000+ by 85K miles
2018 Toyota Camry warranty cost $735, paid for a new radio at 40 months (~$1200)

The extended warranty can be transferred or cancelled and a pro rated refund received if the vehicle is sold.

 

[Cat]

Need opinion on buying the ford extended warranty and tire protection?

This OCD Checklist has a tip about extended warranty, and other items you may be able to use upon delivery.

https://docs.google.com/document/d/1bCKnGypjpN2g2Qz8UtEC1-eqGUeqm5g9fj0tdrady3E/edit?usp=sharing

 

[GotWake]

I think I’ve had one vehicle, my 330i that I would have broken even with an extended warranty. Now, if you are someone that it’s going to put you in a bind if you get hit with a big out of warranty issue. It may be worth it. I just know I can take $1600 and make it into $5k in 3 years.

 

[WuNgUn]

Need opinion on buying the ford extended warranty and tire protection?

It's pricey... And do you wanna add it to the financing cost of the vehicle? Of course, they'll REALLY wanna sell you this and a maintenance plan...
Neither make sense to me.
You can always added extended warranty later, before the factory warranty runs out.

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