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  #1  
Old 06-15-2010, 02:00 PM
tactical tactical is offline
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Default Is an extended warranty worth it?

Three weeks ago, I bought a 2006 Ranger from a dealer. It only had 25,000 miles on it. 2.3L Duratec, automatic trans, extended cab. So far, I'm very happy with it, especially the 26 MPG I got the first tank of gas.When i bought it, they also sold me ex extended warranty for it. 3 years/36,000. All told, that warranty is gonna wind up costing me $2400. I'm thinking I should just cancel it. What's really the worst that can happen by the time it gets to 51,000 miles? It'll pretty much cover everything down to the tires though. Rental car, hotel if I'm out of town, etc.

I drive quite a bit now, but in a few months, I'll taper off a lot, so I don't really think I need to spend $2400 on a warranty that'll just be used up by having the car sit.

It's almost brand new right now and it still won't even be broke in by the time the warranty dies. What do you guys think, keep it, or cancel it?
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Old 06-15-2010, 02:34 PM
STL STL is offline
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Default Re: Is an extended warranty worth it?

I would keep it probably less then 10 buck extra on your payment.

Not a ford but my wife's beetle at 49,520 blew valve cover gasket, rear seal, and 1 other major thing. You never know what may happen.
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Old 06-15-2010, 05:58 PM
DisturbedESV DisturbedESV is offline
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Default Re: Is an extended warranty worth it?

My dad always told me not to buy the extended warranty on anything but I had a friend who has had a ton of work done to his used F250 for free thanks to the extended warranty... I would say keep it... having a rental car almost makes it worth it IMO
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Old 06-15-2010, 07:33 PM
Vrod21 Vrod21 is offline
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Default Re: Is an extended warranty worth it?

............peace of mind..............
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Old 06-15-2010, 08:06 PM
BigT8600 BigT8600 is offline
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Default Re: Is an extended warranty worth it?

two schools of thought on this...and you're going to hear either one but ultimately how lucky or unlucky do you feel. As a general rule, extended warranties are major money makers for electronics. As far as warranties for vehichles goes, they are money makers but a lot can happen in 50,000.

We had a problem on my moms suburban this week though and it wasnt covered. She had an actuator go out for her door lock. Not covered because the warranty covers engine/drivetrain. Well $350 later it works but we are having problems with the ecu...and this thing only has 20000 miles on it!

The only one that can make that decision is you!

For me though, I don't buy warranties. I have a $2500 emergency fund in a separate savings account at my bank that I never touch. I don't even have it connected to my cards or online banking just so I can't access it if i get a whim to buy a new tv! So this fund helps fix the house if necessary or your truck as well....just an idea.
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Old 06-15-2010, 08:07 PM
Tom Tom is offline
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Default Re: Is an extended warranty worth it?

Not all extended plans are equal. There's a matrix setup that changes the cost of the plan based on what you want covered, for how long, and what your deductible will be.

One thing I didn't like was that they said if the issue wasn't covered under the warranty package I bought there is a $100 charge for doing the diagnosis.

$2,400 sounds crazy high for an extended warranty though.
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Old 06-15-2010, 08:37 PM
MattFetters MattFetters is offline
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Default Re: Is an extended warranty worth it?

much too expensive, we just got an extended warranty on our range rover, 100k/10 year for $2800
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Old 06-15-2010, 08:42 PM
DisturbedESV DisturbedESV is offline
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Default Re: Is an extended warranty worth it?

Quote:
Originally Posted by BigT8600 View Post
two schools of thought on this...and you're going to hear either one but ultimately how lucky or unlucky do you feel. As a general rule, extended warranties are major money makers for electronics. As far as warranties for vehichles goes, they are money makers but a lot can happen in 50,000.
Yeah... at the end of the day they wouldn't offer it if they didn't make money off of it.
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  #9  
Old 06-15-2010, 08:57 PM
rangerhippie rangerhippie is offline
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Default Re: Is an extended warranty worth it?

2400 sounds crazy expensive for a ex-warranty. i got mine it was was a 5yr/50k bumper to bumper with rental car and hotel and what not for 1500. i'm not one for buying extended warranties because i am a mechanic and do all the work myself but in this case i did. it proved to be pretty valuable, i snapped a valve spring and was able to bring it in and i did the work and got paid for it lol. really it all comes down to a gamble, is the piece of mind worth 2400 to you or not? thats the question you really have to ask yourself.
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