Advice on Extended Warranty?

[TexasKiddo]

Extended Warranty

We purchased our 2002 Explorer XLT back in April 2005, and purchased an extended warranty for it, cost us like $1500 they added it into our car loan, it has a $100 deductible we have to pay everytime we take it in to have something done, we took it in today because the SES was comming on and they did a diagnostic and pulled the codes and said 3 sensors were bad (IAC, O2, and DPFE) and needed replaced, quoted us $501.00 to replace them, and said that non of them were covered on our extended warranty. they said the extended warranties were on good on things such as Brakes, AC, stuff like that, no electronics, sensors etc....So whats the point of paying $1500 for something that is about worthless? for the most part.

 

[Mbrooks420]

You have to read the policy before you buy them. My warranty was under 700 and covered for 36 months, unlimited mileage, and covers all sensors, power window motors, power seats, wiper motors, and all internal transmission sensors and solenoids. All warranties are not created equal.

 

[rizzjc]

We purchased our 2002 Explorer XLT back in April 2005, and purchased an extended warranty for it, cost us like $1500 they added it into our car loan, it has a $100 deductible we have to pay everytime we take it in to have something done, we took it in today because the SES was comming on and they did a diagnostic and pulled the codes and said 3 sensors were bad (IAC, O2, and DPFE) and needed replaced, quoted us $501.00 to replace them, and said that non of them were covered on our extended warranty. they said the extended warranties were on good on things such as Brakes, AC, stuff like that, no electronics, sensors etc....So whats the point of paying $1500 for something that is about worthless? for the most part.

That's a good point, and as was said, a good reason to look at the details of what is covered. I bought my wife a Toyota van last year, and they tried very hard to sell me the extended warranty. Although I am generally against them, I tried bargaining, saying I might consider it for $500. They cut the price in half ... still $1200. The list of things that were NOT covered were things that are probably most likely to go ... power windows, power doors, etc. An engine is LIKELY to need replacing, but it is things like that which would make it worth the money. 'Course, if you spend a ton fixing things not covered then you wonder after it's up what you got for the money (since you no longer have that piece of mind that you got the warranty for).

PS - I made sure the power doors would still work if the POWER part didn't.

 

[Mbrooks420]

Another thing to look at is the deductable type. My first one was 100 per repaired item, the current one is 100 per repair visit.