Vehicle Extended Warranties

[Rossue]

My Expedition with 3.5 EcoBoost has less than 12,000 miles and is 8 months old so I can still buy the Ford extended warranty. Wondering if any of those with F-150's bought the insurance and have benefited from it.

[EdColorado]

From Consumer Reports



“Extended warranties are a really horrible set of mathematics, and the reason people sell them is because they make a bundle on them in commissions,” says Dave Ramsey, a personal finance expert and radio-show host who has been outspoken on the subject. “On average, you’ll pay about $1,500 on an extended warranty, and the average repair is $180. I don’t recommend buying extended warranties, ever. If you can’t afford a $200 repair on a car, then you can’t afford the car.”

Instead, Ramsey recommends that owners create an emergency fund for repairs that they can tap into when needed. And if that money isn’t needed for repairs, it can go toward the purchase of the next car.”

A general rule for buying insurance of any type, is to not insure a loss you can comfortably cover. “Comfortably,” of course, varies from person to person.

[Rossue]

Was trying to keep my opener pithy. What I should have added is that I know insurance generally is for the unaffordable costs, however given many here tow with these EcoBoost engines I was looking for feedback from that group of owners. I've never bought one for a vehicle, yet my brother did for an Audi A4 and at 99,000 noticed higher than normal oil consumption and got a new bottom end engine.

[GregandTeresa]

We recently bought a lightly used 2018 F-150 with the eco boost. We had never bought an extended warranty on anything, and have never ended up needing one.

This vehicle is loaded with almost every possible option. Now I went from a base model Nissan Pathfinder (with no options basically) to this vehicle, so this newer vehicle has a ton of electronics and computers that none of my other vehicles have had.

When the finance guy gave us the option to buy the extended warranty (takes the standard warranty up to 90,000 miles, bumper to bumper), my wife told me that she would feel better buying it, mainly due to all of the electronics.

Probably if it had been just me, I would not have bought it. But since she felt so strongly about it, I decided to go ahead. I have no idea if it will come in handy or not, but I don't really regret it , mainly for her peace of mind.

[gbaglo]

When it comes to electronics, I figure if it doesn't break during the normal warranty, it will probably outlive any extended warranty. I think that's what the companies that sell them are counting on.
Had a guy try to sell me an extended warranty on a $1.69 plug adapter.

[Vermilye]

I have a 2018 F150 3.5EB, and dd not buy the extended warranty. At around 28000 miles, it started to make rattling noises during a cold start. Diagnosed as a timing chain problem that could wait until I got back to NY. Glad I did - the truck had been in the shop for 2 weeks, waiting on parts that must come from the factory and are back ordered - it could be months. I suspect it is probably an expensive repair, but still under the new truck warranty. We are under stay at home orders, so I don't need the truck; I've been borrowing my son's Dodge Avenger to make 2 week shopping trips. It has been years since I drove anything that low - I've listened to complaints about climbing into trucks & SUVs, but I can barely get out of the car.

It does make me a bit nervous having what would have been an expensive repair, but not enough to buy an extended warranty. The only thing I've ever bought them for is cell phones & lap tops. I've used both of them, but I'm pretty hard on portable electronics.

[Rossue]

On the Ford Forum there is talk about the cam phasers being a problem and how they supposedly fixed it in early 2019. For me it is all the electronics, AC and transmission, which is the relatively new 10-speed that am looking for other's experience with.

[Vermilye]

Originally Posted by Rossue

On the Ford Forum there is talk about the cam phasers being a problem and how they supposedly fixed it in early 2019. For me it is all the electronics, AC and transmission, which is the relatively new 10-speed that am looking for other's experience with.

Yea, the cam phasers are what they are waiting on.

[padlin]

Have 106k on my 3.5, did not have extended warranty and have had no issues not covered by the time the default one ran out. The only thing I had to pay for was a wheel bearing around 60k, don't know if that would have been covered.

[EdColorado]

Before considering any type of extended warranty you need to do three things:
1) Read the fine print.
2) Read it once more using a hi-lighter
3) Read it one final time focusing on co-pays and what's not covered and the exact and precise procedure for getting reimbursed for the work.

Extended warranties on RV's are notorious for making people jump through hoop after hoop in order to get coverage. The insurance companies make money denying claims; not paying claims.

[Oldtimer]

I’m glad I bought the extended warranty on our truck. The ignition module and all the injectors had to be replaced. The module shorted out n fried the injectors. Since all this was replaced my mileage has gone up 4 mpg.

[Rossue]

Originally Posted by EdColorado

Before considering any type of extended warranty you need to do three things:
1) Read the fine print.
2) Read it once more using a hi-lighter
3) Read it one final time focusing on co-pays and what's not covered and the exact and precise procedure for getting reimbursed for the work.

Extended warranties on RV's are notorious for making people jump through hoop after hoop in order to get coverage. The insurance companies make money denying claims; not paying claims.

I'm considering the Ford extended warranty, which offers choice of deductibles that then sets the price. This extended warranty also lets you choose the level of coverage from just engine mechanical up to including scheduled maintenance and is accepted by all Ford dealers.

[azjack]

When my Jeep gc had about 30k, I checked into ext warrantees , A trans shipped to me 5K if I am in no where and every thing else I probably could not fix. The Jeep forum listed a Chrysler dealer in Chicago as the place to buy a warrantee. 1000 later I had a 100 deductible to 100k miles. With the Dodge, same thing. With the Fiat, Life time, Nancy says she will keep it long as it did replace a 67 vw convert. I'm happy with the fine print as I don't normally buy ext warrantees.
Azjack

[EdColorado]

“scheduled maintenance and is accepted by all Ford dealers.“

And if you’re in the middle of nowhere with no Ford dealer; just a private garage, then what?


On the other hand, peace of mind is certainly worth something. Not trying to rain on your parade, Just make sure you understand the if’s , and’s and but’s.

[Rossue]

Originally Posted by EdColorado

...And if you’re in the middle of nowhere with no Ford dealer; just a private garage, then what?.

Great question to remind people to check their policies. We have AAA RV coverage with 200 miles of free towing, which is very little more per year vs. Standard 5 miles per year. If you had to pay for even 100 miles it would cost a lot.

[C&G in FL]

Having just had a 2015 F-150 with 47,000 total miles in and out of the shop for 3+ months with no diagnosis as to why so many things were malfunctioning, yet suspecting it resulted from EMP blowing out electronics resulting from proximity to a lightening strike but not being able to prove it to the insurance company, and being told it would be $5,000+ to replace all the electronic modules with no guarantee that the myriad of problems would be corrected, the price of an extended warranty I declined in 2015 now looks like a huge bargain to me compared to the $32,000+ I shelled out for a new truck when the 2015 probably would have lasted until I no longer wanted to be towing due to my increasing age. $2,400 vs. $32,000 would have been a definite no-brainer had I been able to see into the future. However, YMMV.

[Rossue]

Wow! Now that is at the extreme end of the spectrum and reminds the phrase "sheish happens". Sorry that happened to you Carl; did you have to eat the whole loss?

Flood Ford sells their extended warranties for $100 over their cost which means it is almost half of retail at the dealership finance guy's office. I endured two great pitches for that "rack rate" coverage in the past- almost brought tears to my eyes

[C&G in FL]

Originally Posted by Rossue

Wow! Now that is at the extreme end of the spectrum and reminds the phrase "sheish happens". Sorry that happened to you Carl; did you have to eat the whole loss?

Flood Ford sells their extended warranties for $100 over their cost which means it is almost half of retail at the dealership finance guy's office. I endured two great pitches for that "rack rate" coverage in the past- almost brought tears to my eyes

Ross, thanks for the sympathy. Yes, I am $32,000+ poorer than I was back before September. Mental health also took a hit due to all the frustration, and had to do a lot of work installing a new 5th wheel harness, mud flaps, rear view camera wiring, transferring tool box, etc. The sales manager was very kind, however. I was given full trade-in value for the electrocuted truck, and I paid invoice price for the new truck which was assembled in Dearborn on February 28th. It was delivered the third week in March. Beyond that the sales managed also credited me $750 for the body control module that the service department was 99% certain was the root problem. I paid the bill, went outside, put the key in the ignition, only to have it fail to crank once again. This weekend I found out there is already a recall on the new truck due to some bushing in the transmission linkage that can result in the transmission not really being in Park when the shift lever indicates it is. Going in Wednesday for 20 minute fix. Yet another trip to the service department and added frustration!