Extended dealer warranty is it worth it?

[jabroni619]

Companies make a killing on extended warranties and sales people earn huge commissions pushing them because they are so obscenely profitable. What is good for the company and salesperson is bad for us. Buying "Peace of Mind" is ridiculously expensive.

Self-insure. Put the money you are tempted to spend on extended warranties into a savings account and pay for repairs out of pocket. I guarantee you will come out ahead over the long term.

At this point I have saved myself more than $10k by skipping every extended warranty offered to me. That pays for an awful lot of repairs if the need ever arises, which it rarely, if ever happens.

Defective parts almost always show up in the first few years of ownership, which we are already covered for, so extended warranties are mostly pointless and is why they are so ridiculously profitable for companies that sell them.

I partially agree. I've purchased a handful of cars, some I purchased the extended warranty, others I did not. So far I've had pretty good instincts. The cars I didn't purchase one on were Lexus vehicles and sure enough the legendary reliability was no myth. I had a 2006 IS 350 that did develop a small but rather expensive to fix oil leak around the timing chain cover but even that occurred well after 100k miles where the extended warranty would have been expired anyway.

On another vehicle I had extended warranty cover two transmission rebuilds and a steering rack replacement.

For a new Raptor, I would be inclined to purchase one, especially if you plan going off road relatively often or do a lot of towing as those activities put a lot more stress on the vehicles components then simply driving around in city streets.

German vehciles is another one where I would purchase one... But then again, I would probably just lease a German vehicle.

On my current Ford Escape EcoBoost, I bought one because I was aware of the potential carbon build up issue and I didn't want to be stuck paying the bill for a head replacement if it came to that.

 

[JetDriver480]

DO NOT PAY DEALER RATES. Buy your warranty through Flood Ford. It works at any dealership and is way cheaper.

https://www.floodfordesp.com

 

[mattkc]

DO NOT PAY DEALER RATES. Buy your warranty through Flood Ford. It works at any dealership and is way cheaper.

https://www.floodfordesp.com

Is this legit?

 

[df4801]

Is this legit?

Yes. It's from a Ford dealer and a Ford warranty.

And why would you even ask?

 

[mr_beaverhousen]

Is this legit?

Yes it is. I purchased through them as well. They are a small dealer on the east coast who basically sells the contracts at cost and gets compensated from the manufacturer for selling soo many contracts. Pretty creative and kudos to them.

 

[jabroni619]

Yes. It's from a Ford dealer and a Ford warranty.

And why would you even ask?

Why do you think people ask questions?

 

[JetDriver480]

Is this legit?

Yes. I got the light bulb coverage (remember this truck has a lot of $ LED's) and did not get the rental car coverage but have already been happy with the rental car situation at my dealer. Taken it in twice and got a free rental car for a few days (repair took two days but I couldn't make it back to the dealer for 5 days... car was free for 5 days).

Trust me... I HATE warranties and NEVER would recommend buying one but this truck is an exception in my opinion.

 

[df4801]

Why do you think people ask questions?

I'd would normally answer, but instead I'm going to try to be nice today.

 

[Azholley]

I'd would normally answer, but instead I'm going to try to be nice today.

Well that's boring....


Sent from my iPhone using Tapatalk

 

[df4801]

Ok. I'll answer.

Jabroni is a jabroni