Extended warranty. What are your thoughts

[Chuck___]

My 2017 Ford dually 350 truck has 12,000 miles on it. Thinking of buying an extended warranty????? I was picking up a B&W hitch I purchase at supply shop just after I purchased the Ford and ran into a Dodge service manager. He told me years ago that the best advice he would give anyone is to purchase an extended warranty before your truck factory warranty runs out. With the newer truck electronics, if anything needs replacing it will cost you thousands.


Any recommendations and or advice?

[cummins2014]

romore wrote:
The dealers love sellinng extended warranty, it is a cash cow. Look at it as a game of chance, in the end the house wins. Put the premium in a no touchee account each month, if you need it fine. If you don't it's still yours.

Thats the whole story right there, no need for any further info. The house wins

[Thermoguy]

oops

[Thermoguy]

oops

[otrfun]

blofgren wrote:
I had forgotten about that lifetime warranty until I read your post. I'm interested in more details on your Ram including engine, transmission, mileage, etc. and what the repairs were.

FYI, last time I checked (couple of years ago) you could only purchase a "lifetime" Mopar OEM extended warranty on a gas engine. Mopar OEM extended warranties on diesels were/are limited to 8yr/125k.

[WTP-GC]

On my 2017 Chevy 2500 Duramax...
The cost of my extended warranty (after negotiating the price down as low as I could get it) is about half of what it would cost to fix the DEF system one time. I think that’s a good bet.

[K-9_HANDLER]

Good points brought up already.
We buy used and dont buy the plans. For prospective Fords I get the OASIS print out to look at the vehicles warranty history. Any service history that makes me nervous I stay away. Has worked for me thus far when buying the last 3. Still own them all.

[blofgren]

mtofell1 wrote:
Good advice so far about shopping around and going only with a factory backed service contract. As everyone says, the warranty companies and dealers are in business to make money. Keep in mind A LOT of that money is from people overpaying so you can do a lot of damage control just by purchasing right. They also make a lot of money by people selling the vehicle before the coverage runs out.

I bought one on my 2014 Ram and it's paid off big time. I've had exhaust manifold bolts (2K?) and a tranny rebuild (4-5K?) done. Mine is a a lifetime which means it's good until the repair exceeds the value of the truck. I paid $2200 for it. Mainy, for me, if I didn't have the warranty there's no way I'd still have the truck. It's a company vehicle and I have to be able to manage my costs. I can't have a sudden 5K expense. When I look at how much it costs to do a trade-in and buy a new truck it's a no-brainer. Having the warranty/service contract has allowed me to save a lot by not having to buy/sell. Nonetheless, there will always be the bashers telling me I'm crazy and am throwing money away which is fine. To each their own.

I had forgotten about that lifetime warranty until I read your post. I'm interested in more details on your Ram including engine, transmission, mileage, etc. and what the repairs were.

[Lynnmor]

fx2tom wrote:
There is a Ford dealer that sells them directly online for substantially less than the dealer normally does. I think its called Flood Ford.

Is there an echo in here?

[mtofell1]

Good advice so far about shopping around and going only with a factory backed service contract. As everyone says, the warranty companies and dealers are in business to make money. Keep in mind A LOT of that money is from people overpaying so you can do a lot of damage control just by purchasing right. They also make a lot of money by people selling the vehicle before the coverage runs out.

I bought one on my 2014 Ram and it's paid off big time. I've had exhaust manifold bolts (2K?) and a tranny rebuild (4-5K?) done. Mine is a a lifetime which means it's good until the repair exceeds the value of the truck. I paid $2200 for it. Mainy, for me, if I didn't have the warranty there's no way I'd still have the truck. It's a company vehicle and I have to be able to manage my costs. I can't have a sudden 5K expense. When I look at how much it costs to do a trade-in and buy a new truck it's a no-brainer. Having the warranty/service contract has allowed me to save a lot by not having to buy/sell. Nonetheless, there will always be the bashers telling me I'm crazy and am throwing money away which is fine. To each their own.

[fx2tom]

There is a Ford dealer that sells them directly online for substantially less than the dealer normally does. I think its called Flood Ford.

[Thermoguy]

I have a 2015 Chev. I've only used the warranty once but it is a 10 year warranty. We had a steering stabilizer go out and the camera that is the collision avoidance system - would have been $1000 for both without extended warranty. Glad I didn't have to pay $1K at that time. I'm sure I paid more for the warranty, but I still have 5 years left to find out if it paid for itself.

[blofgren]

spud1957 wrote:
If I owned a Ford diesel, I would have an extended warranty.

x2. If it is a Ford ESP warranty that covers the high pressure fuel pump (HPFP), and the cost is reasonable, I would give it some serious thought.

[ReneeG]

We've purchased extended warranties for our Ford's. 2005 Freestyle - purchased ext warranty because of all the electronics. Took it in for an AC check. Turned out the compressor needed replaced and BTW, our transmission was failing. Both with ext warranty - $100, without the bill was a little over $4k.

Purchased an extended warranty on our 2011 F350 Ford Diesel - a sensor had to be replaced, can't remember the name. $100 - without close to $1k.

Just recently purchased a CPO - Certified Pre-Owned 2018 Escape. You can **** well bet that we purchased the extended warranty AND will renew on the F350 in June too. Diesels can be expensive for repair work and it will happen.

[Grit_dog]

spud1957 wrote:
If I owned a Ford diesel, I would have an extended warranty.

Rofl
On the ext warranty q, wait til your warranty is almost up and then decide. Buying one early is stupid. Like buying your Easter ham in August.

[DownTheAvenue]

1. Read the actually policy, not the sales brochure, so you know and understand what is and is not covered.
2. Buy the policy from a reputable 3rd party or better yet from the original manufacturer. Many "warranty" companies are pure scams that collect a lot of money for their policies and then quietly go out of business making your policy worthless.
3. These policies are huge profit centers for whomever is selling them, so if a dealer or other person is pressuring you to buy, understand they are looking after their wallet and not yours.
4. Understand these are insurance policies and you never buy insurance for something you can easily replace on your own. That is why you buy insurance on your house but not on your toaster.
5. Know that these policies are carefully written to exclude wear items and items that frequently fail, as they have access to the million of repair orders written to know what breaks and what doesn't.
6. Understand the reimbursement procedure. Often you must receive authorization before any repairs begin, repairs must be at an approved facility, and often an inspector must inspect any parts before they are replaced. That inspector may have 60 days or more to make an inspection.