Extended Warranty

[TangoJuliet]

I'm not really getting any responses to the question in my other thread so here is its own.

I just bought a 2009 Focus Coupe SES

I drive 120 miles r/t every day so the miles are going to be racking up pretty quick on the car. The salesman was pressuring me to get the extended warranty on the vehicle which I believe extends the warranty from 3 yrs/36,000 miles to 6 yrs/100,000 miles on everything. I didn't get a direct price on the plan but by doing the reverse on the payment it looks to me that it ran about $1500.

With the extended warranty my payments would be $274/m for 36 months or $226/m without the warranty. So is it worth the extra money? Someone had mentioned in my other thread it was not worth it as I will be doing a lot of highway miles and that is not what breaks down the car. However, that was the only response.

When I purchased my Mustang 10 years ago I got the extended warranty plan and it did come in handy but that car was a convertible and the fix dealt with the convertible top. I never had any problems with the motor or other equipment.

 

[iamwiz82]

Why not just sock that $50/month away and if something happens then you are covered? If nothing happens then you have money in the bank. Warranties are priced so that it's profitable for the company, not for you.

 

[weeber]

Have you seen any reliability information regarding your car? Do you know of any/how many technical service bulletins (TSB) have been issued for the car, engine, etc.? The TSBs can give you some insight into expected problems.

I bought my '01 Monte Carlo a couple of years used, and paid ~$1,500 dollars extra for the extended warranty. Within the warranty period, I've had more than $3,000 worth of work covered. So for me, it's paid off, but I think it's the only EW that I've gotten more than my money's worth. However, I kind of had a feeling the car may develop problems down the road based on what I read, so I felt getting the EW was a good investment at the time. I was right.

 

[TangoJuliet]

Originally posted by: iamwiz82
Why not just sock that $50/month away and if something happens then you are covered? If nothing happens then you have money in the bank. Warranties are priced so that it's profitable for the company, not for you.

I agree. I keep going back and forth on getting it or not. On one hand I have your feelings Wiz and on the other hand I get nervous that something will go wrong and need a major repair within those 100,000 miles.

I guess the biggest repair would be to the engine which is equipped with a 5 yr / 60,000 mile warranty. At my rate I'd probably go through that in 2 and a half years. With the extended I get 6 years /100,000 so that would be almost 4 years.

 

[zoiks]

Does the extended warranty cover anything else 'not' covered by the manufacturers warranty? Do you have an option to get it before your existing warranty expires?

 

[TangoJuliet]

Originally posted by: zoiks
Does the extended warranty cover anything else 'not' covered by the manufacturers warranty? Do you have an option to get it before your existing warranty expires?

Not sure. From the looks of this web page everything under the sun is covered.
Text

 

[evident]

warranty direct is one of the best and most reliable extended warranty companies. i would feel uncomfortable w/ anyone else but them.

 

[LTC8K6]

Create a vehicle warranty bank account. Have $50 a month automatically deposited into it for vehicle repair expenses. After 1 year, you'll already have 600 bucks in there.

That way, you have peace of mind and you get to keep your money with you until you need to spend it.

 

[TangoJuliet]

Originally posted by: evident
warranty direct is one of the best and most reliable extended warranty companies. i would feel uncomfortable w/ anyone else but them.

Warranty Direct quoted me at 5 years / 100,000 miles Luxury Care (best) with a $100 deductible for $1400.

 

[Vetterin]

If the dealers didn't make money on extended warranties they would not offer them. Your major concern should be the powertrain but in 07 Ford extended its drivetrain policy to five years or 60,000 miles. You will rack up 100000 in 3 years so basically you're going to pay $1500 for 40,000 miles.

 

[MovingTarget]

Originally posted by: Homer Simpson
Extended Warranty? How can I lose?!?!?

 

[ViviTheMage]

I told my GF to get an EW on her Yaris ... hahaha, not sure why...that engine is so small it will never brake...plus there is so much room in the engine bay, I could probably sit inside of it and work on it.

I basically told her to get it, incase the tranny gets shot or something along those lines....it was only 800$ extra too, because I was a student at the time.

 

[TangoJuliet]

Originally posted by: Vetterin
If the dealers didn't make money on extended warranties they would not offer them. Your major concern should be the powertrain but in 07 Ford extended its drivetrain policy to five years or 60,000 miles. You will rack up 100000 in 3 years so basically you're going to pay $1500 for 40,000 miles.

Yep, that is what I was thinking as well. If I went with Warranty Direct I could get their Secure Care + airbag protection plan (same as Luxury care except doesnt cover bluetooth radio) for $1140.

That would cover 5 years or 100,000 miles.

 

[Arkaign]

Originally posted by: ViviTheMage
I told my GF to get an EW on her Yaris ... hahaha, not sure why...that engine is so small it will never brake...plus there is so much room in the engine bay, I could probably sit inside of it and work on it.

I basically told her to get it, incase the tranny gets shot or something along those lines....it was only 800$ extra too, because I was a student at the time.

I only have a 2.0 but I engine brake sometimes

 

[JulesMaximus]

That's an extra $1700 over 36 months. That pays for a lot of repairs IMO.

I never buy extended warranties on anything.

 

[JulesMaximus]

Originally posted by: Arkaign

Originally posted by: ViviTheMage
I told my GF to get an EW on her Yaris ... hahaha, not sure why...that engine is so small it will never brake...plus there is so much room in the engine bay, I could probably sit inside of it and work on it.

I basically told her to get it, incase the tranny gets shot or something along those lines....it was only 800$ extra too, because I was a student at the time.

I only have a 2.0 but I engine brake sometimes

Evertime you let off the gas.

 

[ViviTheMage]

Originally posted by: Arkaign

Originally posted by: ViviTheMage
I told my GF to get an EW on her Yaris ... hahaha, not sure why...that engine is so small it will never brake...plus there is so much room in the engine bay, I could probably sit inside of it and work on it.

I basically told her to get it, incase the tranny gets shot or something along those lines....it was only 800$ extra too, because I was a student at the time.

I only have a 2.0 but I engine brake sometimes

woops! I engine brake too ^_^.

 

[Vette73]

Originally posted by: iamwiz82
Why not just sock that $50/month away and if something happens then you are covered? If nothing happens then you have money in the bank. Warranties are priced so that it's profitable for the company, not for you.

This. Save the money. Chances are if you drive that much it will hit 100k before anything really major starts to pop up. And by that time the extra money will more then cover it and some.

Just change the oil/filter every 5k and keep up on all the other basic maintaince as well.

 

[TangoJuliet]

Originally posted by: Marlin1975

Originally posted by: iamwiz82
Why not just sock that $50/month away and if something happens then you are covered? If nothing happens then you have money in the bank. Warranties are priced so that it's profitable for the company, not for you.

This. Save the money. Chances are if you drive that much it will hit 100k before anything really major starts to pop up. And by that time the extra money will more then cover it and some.

Just change the oil/filter every 5k and keep up on all the other basic maintaince as well.

Must....resist....urge....of.....buying....useless....warranty

My head says no - cars today are built solid; my gut says what happens if something serious happens.

So, right now I'm 100% not getting the warranty through Ford. I am still on the fence of getting it through warranty direct @ $1140.

 

[Vette73]

The most costly thing is the trans/engine. Ford covers those for 60k now.

Take that $1100+ and just put it in a CD/Intrest bearing account etc... and I bet you will end up with more at the end if you do the basic maintaince.

 

[Jumpem]

I say yes, but that sounds expensive. I got a 120k mile warranty for my Fit for $900.

 

[MotF Bane]

My parents picked up an extended warranty on an '02 Yukon XL bought in '05. The fuel pump went in early '08, and the transmission blew in late '08. It more than paid for itself already, and there's still a little time left.

 

[TangoJuliet]

Originally posted by: Jumpem
I say yes, but that sounds expensive. I got a 120k mile warranty for my Fit for $900.

Who did you get your warranty through, honda?

 

[funboy6942]

Originally posted by: LTC8K6
Create a vehicle warranty bank account. Have $50 a month automatically deposited into it for vehicle repair expenses. After 1 year, you'll already have 600 bucks in there.

That way, you have peace of mind and you get to keep your money with you until you need to spend it.

But on a newer car, $600 isnt going to pay for much on the car if it breaks down, shit, the trans alone is upwards of $3500.

Not getting a extended warranty on a new or used car is like playing Russian Roulette, at some point it will break down, can be a huge break down or a small one. IMO coming from a guy who managed a few dealerships service shops, I HIGHLY recommend if your ever offered the warranty to take it. There is always that slim chance that something will break, if you bought it new or used, I seen new cars come into the shop needing major work with under 5k on the tick, and I seen new and used cars almost hit 200K before anything big went down, you just dont know, but depending on your financial situation, if you have the bank roll to take the chance and can whip out $3K for a repair, or can say fuck it and just dump the car and buy something else, then maybe buying an extended isnt that big a deal for you. Considering new cars now a days with a sensor for the sensor that controls another sensor, to make your turn signal blink, there just is no such thing as a small repair. But if your living paycheck to paycheck, or close to it, with a small chance that if something should happen your going to be car less, and then jobless because you cant get it fixed, then that extra $50 in the monthly note is going to be a lifesaver for you should something ever go down.

$1100 for top of the line warranty doesnt sound too bad, try also Auto One Warranty Specialists and do more shopping around, you may find one that covers it all, bumper to bumper, with no deductible at all for around the same price. $100 isnt bad at all, but having a ZERO one, with a free rental in it with no questions asked is much better, even if it costs a few hundred more considering it will pay for itself should you need to use the extended only a few times.

Another thing your going to have to think about as well is that you MUST do ALL the required maintenance thats in the owners manual no matter what for thats the extended way out of paying your bill no matter who you go with. For they can come back and say you didnt get a trans service at 45K and you now have 55k on the tick and thats why your trans blew up because you had neglected it, so it is VERY important that you keep up with all of it at the times it says you must do it. I know with Auto One that their very top package also includes doing all that stuff that it will need, even oil changes and light bulbs in their highest package the offer. Another thing to think about if you rather pay $100 more on your note, and not have to worry about shelling out for tune ups, trans services, or anything it could ever need other then brake pads/shoes, or belts.

But all in all extended warranties are good to have, if you never use it, you got yourself one dam good ride, but if you do, your going to be one thankful sob you got it. My wife before we got married bought a 97 Neon, and paid $800 for the basic extended warranty at the same time. At 45K the trans went out, they paid for it, by the time she had 65K on the car we had 3 more transmissions put in at $2,400 a pop. Needless to say her $800 investment paid her back and then some, and was a damn good thing she got it, with a zero deductible, for had she not, there would of been no way we could of afforded all of them transmissions.

 

[Savij]

All I'm going to say is shop around for the warranty. You don't have to buy from that dealer (or any dealer for that matter). I took almost 45% off the cost of my EW with about 20 minutes of phone calls and I've got bumper to bumper coverage w/o any deductible which is better coverage than the first dealer offered.