Extended warranties

[mpally]

Who bought an extended warranty with their truck? What are your thoughts on extended warranties? I did buy an Extended Service Plan through Ford. It covers me up to 100,000 miles or 3 yrs. I put roughly 30,x.. miles a year on my truck. It seems that the ESP has been nothing but problems for me. I think my dealer makes the rules up on it as they go. I am always finding out new exlusions and exceptions ever time I take it in for service. I know that I will probably not come out on top financially on the ESP, but I like the fact that I pay x amount per month and I do not have to worry about repairs. I was just wondering what all you guys thought. Has anyone went through someone other than Ford for their extended warranties?

 

[Nate1]

I wouldn't do it. Considering ford is dicking with me on cam parts the seem like they SHOULD be warranted under 00M12 or some similar program, and are charging me nearly $1300, I'm not too impressed with their service... and I never really have been, it has always been lackluster, but now it's downright atrocious. I wouldn't waste my money on something they'll probably find a way around.
-----Nate

 

[tbomb]

i used to think they were a good idea, but i bought a "ryan automotive" warranty from ford when i bought my truck brand new (5 yrs or 75k), but no one takes it except for the dealership that we bought it from, and like someone mentioned earlier - it seems like they make up the rules as they go.

 

[Robert]

My experiences with Warranty Gold were enough to turn me off of extended warranties. They argued tooth and nail for every single claim and didn't pay about 30% of them. I didn't quite break even, but had they paid for the claims they denied it would have been about a wash. Just turned over 100K so my Warranty Gold contract is up so I'm rid of them.

 

[sodjer6]

I got an Extended warranty through my dealer, not Ford. I too believe Ford makes up a new exception every three seconds. It only cost me $1800 and if I never use it(too late, it covered my front diff cover) I get my money back.

 

[dogfriend]

Most of these extended warrenties are just a way for the dealership to make additional profit on the sale of the car or truck. Although sometimes they can pay for themselves if you have an unusual or catastrophic failure of a large ticket item (an auto trans for example) most people don't have these kinds of failures and/or the policy excludes a lot of the items that typically go bad.

Most people would be better off taking the additional money (usually they add the cost of the extended warrenty into your monthly payment) each month and putting it into a savings acct for car repair. That way you will collect the interest on the money until you need to use it to make a repair.

This is also true of a lot of other extended warrenties on things like computers, tvs, etc. They wouldn't offer these warrenties if they weren't making money from them.

 

[Mbrooks420]

I bought a Gaurdian Warranty whihch is better than some, in the way you can take it to almost anyone for repairs. If you knew a mechanic that would work with you you could get a whole lot of new parts. I had a lot of stuff replaced with mine. Auto trans, axle shafts, ball joints, IAC, and some other stuff. The auto trans rebuild only lasted 35K tho and the second shop said it was because it was just a "patch job". He said it was a probobly a combo of the warranty company only wanted to repair the essential things, and the trans shop screwing me. If not for the trans I'd be totally happy.

 

[canine6]

i got an extended 48month/48000 mile warranty from a company called Wynns when i purchased my x used from the ford dealership. The warranty costed me an extra 1600 bucks. The warranty has paid for its self since ive had the vehicle. in the last 2 years ive had a new valve body for the tranny put in(this one I had to fight the warranty company, if i put in a rebuilt they covered the whole cost, if i got a new one they would only cover up to 300 dollars, well it cost me 700 out of my pocket for a new valve body)

i just had the x into the dealership for new hubs(had to have autos put in or warranty wouldnt cover it),new bearings,new u-joints and new radius arm bushings.
total cost was 1300 dollars. only cost to me was the 100 dollar deductible i had to pay.

ive got 10000 miles left before the warranty is up. gonna be alittle sad when its gone because it has saved me alot of money. if u can find a reputable warranty company i think the extended warranty is worth every penny

 

[mrboyle]

Extended warranty's are nothing more than a legalized scam. The "warranty" companies will not work with repair shops, fail to pay even after they ok the work, will never cover everything needed to properly repair the vehicle (only cover what they want to, when they want to) and all together cause more headaches than their worth.

 

[Mbrooks420]

I got my money out of them, but most peolpe wouldn't. My mechanic is cool and helped me out a lot. If my truck had been at all reliable it wouldn't have paid off.

 

[A Wise Guy]

I had a '92 Dodge Daytona ES with service contract and I lost on that one because anytime I heard a noise on the car it went to the dealer and everything was taken care of under the 3/36. It is good to have Service Managers as friends. I had a '97 Dodge Avenger ES and in just radios alone the price of the contract was paid back. Then with about 6 months left on the contract the trans locked up. Since this contract paid itself off already, that bought my Daytona contract out. When I bought my '98 X used from the local Dodge dealer (Good to know Sales Managers) he wouldn't let me leave without one. It is a Chrysler Contract that covers just about everything. One time deductable not that silly per item deductable. In the 2 years I had the X the radio display went out at the same time the OD light started flashing, $100.00 deductable. I just got it out of the shop yesterday, the light bulb burned out on the rear defog switch and the cruise on/off switch. New switches installed. The drivers door pin switch was getting sticky, new switch. The famous heat shield rattle, hose clamp installed and I didn't have to get on my back. A hand full of ball joints and both upper control arms and all those front end knocks are gone. $100.00 deductable and the contract just paid itself off. I have a feeling I will probably lose out on the money I spent on my Honda's contract. Yea, I'm for them.