Extended Warranty, worth it?
#11
was much easier to finance it then come up with it later for me, and with it being 0% interest, was the better option for me. But as has been said before, differnt situations for different folks.....
#12
Senior Member
Join Date: Jun 2011
Location: Arlington, Texas
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I bought one...at the dealership, but I think I'm going to see about canceling it and waiting a couple of years and then buying a 100K one from Ford. We'll see... I think it is a good idea, one way or the other though...
#13
The warranty is worth it if you are paying the $1050 or so for a 7yr/100k warranty and not the $2500 the dealership will try and charge you.
Buy online for cheap from other Ford dealerships...dont buy through the finance guy. They originally charged me $2500 for mine...cancelled it and now paying $2500 for the extended warranty and service plan for 7/100k with oil changes every 5k miles
Buy online for cheap from other Ford dealerships...dont buy through the finance guy. They originally charged me $2500 for mine...cancelled it and now paying $2500 for the extended warranty and service plan for 7/100k with oil changes every 5k miles
#14
If you took the portion of your monthly payment on that $1,000 each month and just threw it in your sock drawer (or savings account), you'd have most of the cash after three years to buy the discounted warranty.
I understand that you are happy with your decision to buy and finance the warranty up front, but again, I can't think of a single reason to buy a warranty at vehicle purchase time, even financing.
#15
But you are financing something (even if it is zero interest) that you wouldn't have to pay a dime on for three years if you just deferred the purchase.
If you took the portion of your monthly payment on that $1,000 each month and just threw it in your sock drawer (or savings account), you'd have most of the cash after three years to buy the discounted warranty.
I understand that you are happy with your decision to buy and finance the warranty up front, but again, I can't think of a single reason to buy a warranty at vehicle purchase time, even financing.
If you took the portion of your monthly payment on that $1,000 each month and just threw it in your sock drawer (or savings account), you'd have most of the cash after three years to buy the discounted warranty.
I understand that you are happy with your decision to buy and finance the warranty up front, but again, I can't think of a single reason to buy a warranty at vehicle purchase time, even financing.
#16
The finance guy wanted $3200 for the extended warranty, wheel/tire protection and maintenence plan. I said no thanks and they came down a little, I declined. I'm shopping around. Lots of electronic systems that can fail and 1st year engine too. And I plan to keep it to pull the rv when I retire. In 2002 Toyota offered an extended warranty on the 4runner for $1500, I passed. 208,000 miles later, no problems and $1500 saved. It's a crap shoot.
#17
Junior Member
How exactly do you cancel the extended warranty/maint package that was purchased from the dealer? Seems like i could get a better deal through Ford from what im reading and saving money is well....saving money! Any ideas or help?
#18
Senior Member
I was kinda wondering this myself, havent even had my truck a year yet and have about 23K on it already. What happens if you sell it, does it transfer to new owner? Transfer to your new truck? do you get your money back?
#19
Plans vary, but most of the Ford ESP's transfer to the new owner when you sell or can be cashed out if you prefer. I've transferred one to a new owner, but never cashed one out. YMMV.
#20
Its worth it, but NEVER buy from the dealer you are purchasing from. Also you're good for 3 year / 36k miles so you dont have to buy it right away (as long as you purchase before you exceed either one).