Extended Warranty - FordTough.ca - Home of Canadian Ford Truck Enthusiasts
 
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post #1 of 6 (permalink) Old 09-24-2010, 09:17 PM Thread Starter
 
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Location: Niagara Falls, ON
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Extended Warranty

I just ordered my truck. Now the question is: Do I need an extended warranty?

What are your experiences with the Ford plan?

What kind of pricing can I get it down to? I was offered "Employee Pricing" on the plan, since I got Employee Pricing on the truck. I have a few weeks to decide since it was a factory order.

I think the quote was around $1700 for 72mos/ 120,000km for the top of the line coverage.

I have a great mechanic and don't ever go to the dealer. Will this cause me any headaches? (Obviously, the dealer would have to perform any warranty work)

I understand that this plan also provides rental coverage in case my truck needs to be in the shop overnight or longer. This alone seems like it might be handy.

I'm open to suggestions and would love to hear about any personal experience with this plan.

Thanks.
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post #2 of 6 (permalink) Old 09-28-2010, 05:23 PM
 
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Totally subjective - personally I think any extended warranty on a vehicle is a waste of time and more importantly, money.

Given the build quality these days, and more importantly, if you stick to a rigorous, regular maintenance schedule, there's no reason why you shouldn't get at least 200,000 km out of your new truck with no issues.

Case in point - I bought my '98 off a lease with 68,000km on it, purchased the extended warranty and then proceeded to drive it another 100,000km until I traded it in with almost 170,000km on it.

In that entire time and mileage, the biggest expense outside of routine maintenance was new plug wires.



Buying from new gives you the advantage of knowing how the truck is driven and maintained.

If you did get the extended warranty, it stands to reason you would have to have over $1700 in warranty claims (beyond 3 years/60000 km) to even BEGIN to see some benefit for the money you spent up front.

As far as the rental goes - there would be a very low probability your new truck will need to be in the shop overnight for anything.

The first three years are essentially oil changes and tire rotations, so it might be a good idea to consider how long you plan on owning the truck as well..



Personally, I'd take that $1700 and dump it on the principal, or lock it into a decent investment for three years.

On the flip side, there's always the exception to the rule, and some guys like the peace of mind knowing the coverage is there if something goes terribly wrong.

I'm sure someone has a horror story about a lemon they bought, and how the extended warranty saved their ass, but I'll say those are few and far between.

Companies make a killing with these extended warranty scams - the catch is that the extended warranty likely has f#$k all to do with Ford and it's being underwritten by a third party company.

How willing they are to pay the claim is open for debate, as they are not in business to fix manufacturer defects, but to sell warranties.



Do what makes you comfortable, but I say you're better off without.

801A - 6550 lb bundle of joy
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post #3 of 6 (permalink) Old 09-28-2010, 08:33 PM Thread Starter
 
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GT4MT, thanks for the honest input. That's exactly what I'm looking for. I'm almost ashamed to admit it, but I'm only even considering the extended warranty since this will be my first North American vehicle in years. I'm a confirmed Honda guy and I'm really making a leap of faith to buy a Ford. With that being said, once I realized that I needed a truck since I plan to start towing a travel trailer, I knew I had only two choices and the Ridgeline wasn't one of them. (neither was a GM--butt ugly IMHO).

Funny enough, I just sold my Acura at just shy of 120k. I've never done anything other than routine maintenance and it never let me down...until I sold it.

The day after I dropped it off to the buyer, he called me and told me that the CD changer had died...THE NEXT DAY! He hadn't even changed the ownership yet. The stereo still works, but it's like the changer mechanism is dead. It won't spit out discs I mistakenly left in there. I haven't listened to CDs in probably two years, I'm a Satellite Radio guy.

If I had a 6/120k full warranty on the Acura (I didn't), then the stereo would have been changed out...$1400 I'm told.

With all that being true, I am leaning towards the peace of mind that the warranty would give me. It is through Ford of Canada and is good at any dealer in North America. If I can get the price knocked down a couple of hundred, I'll probably pull the trigger.

Last edited by PitCritter; 09-28-2010 at 08:49 PM.
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post #4 of 6 (permalink) Old 09-28-2010, 08:59 PM
 
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Had the extended warranty when I bought Eimly (grandkids named the'99 F150 'cause the ball joints squeek like a dinosaur) Thought it was a good idea. Paid off as there was wierd stuff that broke or didn't work.It's not very often you pull off your lid to your consul or peel the insulation strip out of the sliding rear window with a 10 ft. 1X6 but Ford covers it.
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post #5 of 6 (permalink) Old 09-28-2010, 10:22 PM Thread Starter
 
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Thanks Ogre. I'm pretty sure that Ford quality has gone up since '99, but even so...1X6s haven't changed much
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post #6 of 6 (permalink) Old 09-30-2010, 01:32 AM
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Something to ponder. They wouldn't be selling these if there wasn't any profit in it. Make sure you read the fine print and understand what isn't covered, you may be surprised to find out what isn't covered in some of their plans (eg. electronics, shop supplies).

I say keep your money and fix the issues as needed. If your vehicle starts turning into a problem child, sell it with a few months to spare on the standard warranty and move on.
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