Extended Warranty, worth it?
#21
I bought from Flood Ford
#23
#24
No question in my mind it is worth having the extended warranty after the initial 36 month warranty expires...
The question is does it make sense to buy it when the truck is new, or say around month 30, and how to get the best price on the Ford warranty.
The question is does it make sense to buy it when the truck is new, or say around month 30, and how to get the best price on the Ford warranty.
#27
One thing to keep in mind. While it is prorated if you cancel early, the prorate is from the time the vehicle was placed in service, not when you purchased the warranty. Say, for example, you purchase a 60 month warranty at month 30 and a year later you cancel, you do not get back 18/30 of the warranty, you would get back 18/60 of the warranty. Note: I'm sure my math is not exact in regards to how the prorate is applied (I'm sure there are non-refundable parts, fees, etc), but the general gist should be correct.
If you're going to buy an extended warranty, there are only a couple reasons (I can think of) to wait: 1.) you think the prices of extended warranties are going to drop over the next 3 yrs/36,000 miles, or 2.) you think you can outpace the growth in the cost of the warranty with earnings on the money now ($1,000 warranty, instead of buying you invest the $1k, earn interest, then buy for $1,000 in 3 years and keep the interest you earned).
My guess is warranty prices will go up, and likely by more than you can earn (safely).
If you're going to buy an extended warranty, there are only a couple reasons (I can think of) to wait: 1.) you think the prices of extended warranties are going to drop over the next 3 yrs/36,000 miles, or 2.) you think you can outpace the growth in the cost of the warranty with earnings on the money now ($1,000 warranty, instead of buying you invest the $1k, earn interest, then buy for $1,000 in 3 years and keep the interest you earned).
My guess is warranty prices will go up, and likely by more than you can earn (safely).
#30
Are you guys buying the Preminum Care that covers 500+ items or the Extra care that covers 113 and excludes many of the electronic items? With the costs I see quoted here it seems that most are getting the Extra. Not sure about the value since a good portion of the items that the plan seems to be bought for are not covered.