Extended warranty

[De Brus]

Fear sells. The best extended warranty is not to buy one. They don’t sell them to loose money . But if you buy one odds are you probably will.

you probably thought btc was a scam too

Sponsored

 

[Zus]

Fear sells. The best extended warranty is not to buy one. They don’t sell them to loose money . But if you buy one odds are you probably will.

I usually do that but this is a whole new animal with plenty of issues. The steering rack is the first issue. Imagine if GOAT mode goes crazy. $$$

 

[BigBendBW]

I bought the Ford ESP Extra Care 8yr/100k miles for $1100. Even if I use it 2-3 times it will likely pay for itself. It's also refundable and transferable if I sell my Bronco.

What’s the deductible on that plan?

 

[Mr. Nice]

you probably thought btc was a scam too

No not at all. BTC is speculation. Extended warranties have historically been proven to be a poor decision. Again, they don’t write them to lose money. Insurance companies never do.

I usually do that but this is a whole new animal with plenty of issues. The steering rack is the first issue. Imagine if GOAT mode goes crazy. $$$

Fear sells…

 

[JDoc92]

Granger Ford is going to start selling Ford ESPs soon. In true Granger fashion I’m sure they will beat the competition!

 

[Mr. Nice]

Granger Ford is going to start selling Ford ESPs soon. In true Granger fashion I’m sure they will beat the competition!

Yep a lot of kool-aid served. A lot drank…

 

[JDoc92]

Yep a lot of kool-aid served. A lot drank…

I paid below invoice on my Bronco. No complaints here

 

[Swatman]

Fear sells. The best extended warranty is not to buy one. They don’t sell them to loose money . But if you buy one odds are you probably will.

Probably true. But this accurately describes virtually every insurance policy of any kind ever sold. Still, pooled risk is a valid concept and makes a lot of sense if you're willing to pay some money to avoid a catastrophic loss.

 

[Jazer]

The truck comes with a warranty. Some Posters have said they buy a new policy after 2 years and 11 mos (on a 3-yr warranty). However, we just checked Flood: no matter when you buy, they start the coverage from the date of purchase, 0 miles. So we save a bit by buying now, before the price goes up.

That is, Flood doesn't give you 3 (original) + 8 (extended) = 11 years. It gives you 8 period. So yes, there is overlap with the policy the truck comes with, but it's cheaper than waiting 3 yrs.

This is exactly why we just got the warranty now since it doesnt matter to do it now or later and I intend to keep this vehicle for a long long time. My dealer got it down to 1200 for 7 yr/84k miles (based on my driving, I average 8k per year so that was sufficient)... with only a 50$ deductible. Bumper to bumper coverage. I used Floods pricing to negotiate and got him to drop the deductible and the overall price since we paid for that in cash instead of tacking into payments.

 

[Swatman]

I plan on keeping my Bronco a long time but don't plan on driving it a lot, so I bought the Flood Ford 8-year, 48,000 mile Ford Premium ESP ($50 deductible) last week. It cost me $930. By the way, my dealer in Columbus, OH said, "If you can get it for that, buy it. I can't touch that price."

 

[RideEmCowboy]

This is exactly why we just got the warranty now since it doesnt matter to do it now or later and I intend to keep this vehicle for a long long time. My dealer got it down to 1200 for 7 yr/84k miles (based on my driving, I average 8k per year so that was sufficient)... with only a 50$ deductible. Bumper to bumper coverage. I used Floods pricing to negotiate and got him to drop the deductible and the overall price since we paid for that in cash instead of tacking into payments.

We will try to do that too. That negotiation is a game time decision, right?--when you're signing the papers? I really like our sales guy and the whole small dealership, so we would give them the benefit of the warranty $$ if they give us a good deal.. One stipulation would be that the price of the warranty not get added on to the purchase price, which would raise both the sales tax and the CA DMV fees.

 

[Blksn955.o]

Yep a lot of kool-aid served. A lot drank…

I tend to agree but I also like to do research on the vehicle I buy. we keep our cars for about 10yrs+. we bought an extended on the 17 escape with the 1.5 4cyl. $1,500 cost and a $500 deductible. Due to poor 1.5 4cyl block design the bottom end be up at ~67k miles and out of factory warranty. 6k+ repair bill that cost us 2k for the warranty and deductible. That 4k difference pays for the warranty and then some on the Bronco.

Since the bronco is so new we hedged our bets as after dollar cost averaging we are still ahead. I am very competent in auto repair, the father In law owns a large tool franchise and the wifes uncle is a sr. master tech at a Ford dealer but over warranty period and below invoice cost paid on our Bronco I would not call it fear or wasted money.

 

[RideEmCowboy]

I tend to agree but I also like to do research on the vehicle I buy. we keep our cars for about 10yrs+. we bought an extended on the 17 escape with the 1.5 4cyl. $1,500 cost and a $500 deductible. Due to poor 1.5 4cyl block design the bottom end be up at ~67k miles and out of factory warranty. 6k+ repair bill that cost us 2k for the warranty and deductible. That 4k difference pays for the warranty and then some on the Bronco.

Since the bronco is so new we hedged our bets as after dollar cost averaging we are still ahead. I am very competent in auto repair, the father In law owns a large tool franchise and the wifes uncle is a sr. master tech at a Ford dealer but over warranty period and below invoice cost paid on our Bronco I would not call it fear or wasted money.

There is also the intangible of peace of mind. Statistically, we lose and the insurance company wins. I dislike all insurance for that reason. But I, and my husband more so, have a little program always running in our heads: "what if we need really big repairs......" (My husband is on his 3rd engine in his Honda Civic, the last one replaced just weeks shy of warranty expiration.)

Over the 8-year life (5 years in addition to the at-purchase warranty) of a $2K warranty, that's 5 x 365 + a leap day divided by 2,000 = $1.09/night. Compare that with the cost of Valium, which is $3.54/tablet.

 

[Jazer]

We will try to do that too. That negotiation is a game time decision, right?--when you're signing the papers? I really like our sales guy and the whole small dealership, so we would give them the benefit of the warranty $$ if they give us a good deal.. One stipulation would be that the price of the warranty not get added on to the purchase price, which would raise both the sales tax and the CA DMV fees.

Yeah, once sitting down with the business manager for all the final finance stuff.

 

[Mr. Nice]

Probably true. But this accurately describes virtually every insurance policy of any kind ever sold. Still, pooled risk is a valid concept and makes a lot of sense if you're willing to pay some money to avoid a catastrophic loss.

Catastrophic loss would be a lawsuit judgment against you for not having auto liability insurance post accident, not a transmission replacement.

It’s a conundrum. The people that can afford to self insure on auto repairs don’t need it. But the people that buy an extended warranty shouldn’t. It’s rubbing salt in the wound by adding extra cost to a car they probably can’t afford. Nobody “needs” a Bronco. To top it off most folks end up rolling one into the finance package. Ahhhh!

Again the odds are it won’t be beneficial for you. I like having the odds in my favor.
That’s my “peace of mind”.
To each his own. Just trying to help.

Sponsored