I think I got gouged on the extended warranty

[mmd1350]

This is what the finance person saw when you walked in the door:

The only way you make sucker status permanent, is by not canceling. Good luck!

agree!!

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[jubangas]

8 years/125k miles - not sure about deductible. man i feel like an idiot. I can just call and cancel? I wonder how would that work since they put it into my loan. I'll have to ask.

Leave your dealer out of it. The warranty is through a third-party. Call them and cancel it. You will get a check from the third-party. If you want, you can simply apply the entirety of it to your loan.

I'm happy you figured this out quickly. Don't think about it any further - just cancel, get your money, and move forward knowing that dealer hoses people down.

 

[jubangas]

my thing with the warranty is i dont want a car payment AND a large repair bill! Few years back i had a company car, Tayota Tundra, about 45K miles or so had a catyletic converter issue, check engine light came on and wouldnt pass inspection, took it to 3 different garages all came back with a $2800 bill to fix it, if it wasnt a company car id of still had a payment for sure since it was only a couple years old but out of the 36K warranty!

Take the money you're going to get back and put it in an emergency account then.

 

[jubangas]

You can always count on the know it all warranty experts to show up on a thread like this. Same trolls that know everything about what each individual values with peace of mind or how they manage finances.

Everyone's situation is different. There are always trade-offs. I've owned Fords with an extended warranty and Fords without. Depends on a number of factors. It isn't black and white. If OP's transmission blows at 65k, those giving the blanket advice won't be accountable as the internet expert b/c she didn't have a warranty. It's completely irresponsible to be so matter of fact with your opinion.

And of course the warranty folks make money writing the GD warranty. Ford makes money selling Broncos. So what. I carry life insurance that will hopefully never pay out. I don't begrudge the company issuing the policy for making money. As a matter of fact, they have to. Just like any business. Must be this socialist utopia some of you seek that believes the world can work in some other way.

Gotta love how making money in evil oil and insurance companies are corrupt, but chosen industries deemed "worthy" (Pharma...for now) are righteous. Hypocrites. Bitching about oil companies and you own a Bronco and eat....that's rich.

I bought an ESP for the Bronco with Ford points that Ford gave me for various launch failures. No brainer given this is a first year vehicle I plan to hold well past the warranty and that is already having documented issues.

OP sorry you got hosed. Take the advice and cancel. If you value an ESP, purchase one through one of the discount offers on this site previously given.

You know what you do if the warranty blows at 65k? You take the $3k that you saved not buying a warranty - while paying interest on that amount since it's wrapped into the loan - and you buy a new transmission. Seriously, do you have any idea the profit margins on those extended warranties? If you did, you would realize why it's always a bad investment.

 

[mmd1350]

Don't be pissed - he's doing his job. You'd do the same in his position.

You're absolutely right, mans just doing his job - but I think the way he went about it was not cool and didn't sit right with me. The only person i'm really mad at though is myself. I should have known better and done my research up front. It was the one thing i wasn't really thinking about because i hadn't actually purchased a new car in a really long time. Just threw me off and it was so late in the day, felt like a deer in headlights.

Hopefully i can be a lesson to others, research warranties up front!

 

[jubangas]

Dealer said different it was around 2015 if that makes a difference. Either way the story is still the same, I don't want a payment and a repair.

So instead you'll wrap the cost of the potential future repairs into a loan now, pay interest on the future repair that may never happen, and think you're coming out ahead? I would caution you against this really bad plan of yours.

 

[HeliPilot]

8 years/125k miles - not sure about deductible. man i feel like an idiot. I can just call and cancel? I wonder how would that work since they put it into my loan. I'll have to ask.

I got 8 years 100k with $100 deductible for $1530 from Flood Ford online. I did apply my Ford Pass Points to get that price.

 

[bigedizzle]

You can always count on the know it all warranty experts to show up on a thread like this. Same trolls that know everything about what each individual values with peace of mind or how they manage finances.

Everyone's situation is different. There are always trade-offs. I've owned Fords with an extended warranty and Fords without. Depends on a number of factors. It isn't black and white. If OP's transmission blows at 65k, those giving the blanket advice won't be accountable as the internet expert b/c she didn't have a warranty. It's completely irresponsible to be so matter of fact with your opinion.

And of course the warranty folks make money writing the GD warranty. Ford makes money selling Broncos. So what. I carry life insurance that will hopefully never pay out. I don't begrudge the company issuing the policy for making money. As a matter of fact, they have to. Just like any business. Must be this socialist utopia some of you seek that believes the world can work in some other way.

Gotta love how making money in evil oil and insurance companies are corrupt, but chosen industries deemed "worthy" (Pharma...for now) are righteous. Hypocrites. Bitching about oil companies and you own a Bronco and eat....that's rich.

I bought an ESP for the Bronco with Ford points that Ford gave me for various launch failures. No brainer given this is a first year vehicle I plan to hold well past the warranty and that is already having documented issues.

OP sorry you got hosed. Take the advice and cancel. If you value an ESP, purchase one through one of the discount offers on this site previously given.

That was very well said. It is absolutely the truth and it is better to have a warranty and not need it then not have one and need it. I work for a ford dealership and if you buy a car every two or three yars then it is your choice. If you plan on keeping it then it is a no brainer. The only customer thats usually does not buy a warranty is the person writing a personal check for the truck. I agree to find a cheaper priced one, but in the long run it is much better on peace of mind knowing you are covered.

 

[Pootypoot]

 

[HeliPilot]

Never understood buying an extended warranty when the new vehicle is covered for 3 years and 36,000 miles. So what you bought was 5 years and 89,000 miles. Are you keeping the Bronco for 8 years?

You can buy an extended warranty anytime you want. Always say no when you are at the finance table.

Probably because the closer you get to the end of your factory warranty, it will cost 2-3 times more to buy the same extended warranty. Always cheaper to buy it early on. You can always cancel anytime as well and recoup a pro-rated amount. If you sell your vehicle, you can charge more with the extended warranty, or you can sell the car at market value and cash in on the unused warranty.

 

[Pootypoot]

Never understood buying an extended warranty when the new vehicle is covered for 3 years and 36,000 miles. So what you bought was 5 years and 89,000 miles. Are you keeping the Bronco for 8 years?

You can buy an extended warranty anytime you want. Always say no when you are at the finance table.

Me either. I did it on my first car because I didn’t know but ever since? Nope. I won’t even take their gap coverage, I use insurance for $5 a month. Extended warranties are not worth it, especially nowadays when nobody can keep anything. They’re like buying a cell phone warranty for $17 a month. Seriously? just buy a good $50 case and trade it in, in 2 years for a new one. Such a waste of money. Insurance/warranties in general are the biggest scams in life.

 

[andrusoid]

It was very late Monday when i picked up my bronco. The finance guy came in and didn't really show me the options, basically just said lets cut to the chase.. this one is the best one and i need it, etc...I felt very pressured, but also know it's a good idea to get the extended warranty. However, after reading through here I am feeling like I got screwed over. $3900 for the premium care. I haven't bought a new car in many years (i have always leased) so i forgot that they would come at me with this. Is this way too much?

Just have to feel your fear of the future. Me? I always say no. Note that this might be the extended warranty plus what they call a service contract. You can still cancel, just go in and see what you are getting for that money. Could be some sweet tires, a tune, etc. if you put that money where your Bronco is...

 

[1975U15]

You know what you do if the warranty blows at 65k? You take the $3k that you saved not buying a warranty - while paying interest on that amount since it's wrapped into the loan - and you buy a new transmission.

Could've never seen this statement coming. All you day traders got the time value of money pegged. Congrats. Quit your day job now.

 

[poopypants]

I've always believed that dealerships wouldn't offer warranties if they didn't make money off of them. Which means if they're making money, I'm losing money. Conservation of mass and energy and all that

 

[gryphon1231]

It was very late Monday when i picked up my bronco. The finance guy came in and didn't really show me the options, basically just said lets cut to the chase.. this one is the best one and i need it, etc...I felt very pressured, but also know it's a good idea to get the extended warranty. However, after reading through here I am feeling like I got screwed over. $3900 for the premium care. I haven't bought a new car in many years (i have always leased) so i forgot that they would come at me with this. Is this way too much?

that sounds like a maintenance plan, not an extended warranty,

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