Just Bought a New Truck....(N.F.)

[JustinHoffman]

Hello All,

 

With the Mazda B3000 running as rough as you know what, and with the amount of miles on it and a hefty repair bill looming, I decided it was finally time to buy a new vehicle.

 

After doing some research, and a tad bit of impulse buying last Saturday, I became the new owner of a 2005 Ford Escape Limited V6 4WD!!

 

Couldn't really say no - only has 33,000 k's on it, and is loaded to the gill's! Heated leather seats, air, power everything, sun roof, fog lamps, heated mirrors, towing package, remote starter, backing-up sensors, 6-CD changer, etc...

 

The price was right, and with my trade-in, it was even better!

 

 

My question to the board is this:

 

The vehicle still has two years remaining on the factory power train warranty. I have the option to buy "bumper to bumper" warranty, for two years, for roughly $40 additional dollars per month. However, I would pay this fee for the five years of the finance package, making the total cost approx. $2500 with tax and interest included. The coverage, though, would only last for two years.

 

Looking for opinions on whether this is worth it or not. I realize buying warranty is always a crap shoot at the best of times. Since the truck is relatively new, are the chances of getting over $2500 in repair work done over the next two years a possibility? I don't know. I'd like to think not. I'm wondering if it would be better to put that $40 into a seperate "repair fund" each month and just save it up instead...

 

Bought extended warranty on the last truck. Only ended up using it for $200 odd dollars.

 

Decisions, decisions....

 

Thanks,

 

Justin

[irishfield]

Sure glad we bought it for Leah's Sportrac. 2 weeks before the extended warrantee expired... both front hubs/bearings. Then two days later she still had a noise so back it went for a complete ($2500 to Ford) transfer case rebuild. It's a crap shoot... but we won this time.

[Billy Bob]

Open a special savings account and deposit $40 per month into it. If you need repairs the money's there for you, if not it there for your next vehicle.

 

The reason dealers are so exited about selling extended warranties is because it's a BIG money maker on their part.

 

Bob

[danbouck]

I can see how saving that money is a good idea but what happens in 6 months if you need a $2500 repair? And if you needed another repair you would kick yourself in the donkey. I would go for to play it safe.

[MAzing]

The truck already has a power train warranty, that's way to much to pay for the rest. All the expensive repairs are part of the power train. I wouldn't pay that much even if it was a new vehicle, GM has a 100 Km power train warranty and they want $2500 for extending the bumper to bumper from 60 to 100 Km and no way I'd pay it.

 

It may be a crap shoot but it's an extremely expensive insurance policy.

[taper]

Ask if the warranty is from Ford or a 3rd party. Most 3rd party warranties (such as Lubrico) will not pay for diagnosis. I have seen a shop bill to the customer for hundreds for diagnosis and a few dollars to the warranty co. for the repair. Also 3rd party warranties usually have a long list of what is covered and what is not. GE capital is one of the best 3rd parties I have seen, in some model cases better coverage than OE. In my opinion go to your local Ford dealer and talk to the mechanics and ask what kind of problems they have seen from your vehicle, if there are a lot of expensive problems coming up on a regular basis it may be worth it. Also check the net googling the model and year for problems. It also depends on how comfortable you are with doing repairs. A $1000 repair bill at the dealer can be less than $200 in parts from a jobber. I personally don't like extended warranties in general they are a money make for the company and the seller but I did purchase one for my wifes previous vehicle using the above and got my moneys worth and more. On her new vehicle I chose not to as it has a very good record for repairs. Hope this helps.

[Muskieman]

If it's a LUBRICO extended warranty you're paying $$$ for nothing stay away.. if it's factory warranty it's ok... but if you ask me your still paying for nothing.

 

the odds of you needing a warranty claim that exceeds 1000.00$ is 5 % this consists of a tranny cylinder head or intake or differential... 33.000kms you wont need any big repairs 'til at least 120.000 kms.. and even then it won't be a big repair.

 

Being in the business for the past 12 years i've hardly ever seen anyone use the extended warranty

...read the finer print not everything is covered with this warranty.. according to Lubrico... a differential isn't part of the drivetrain.

 

Can't really go wrong with the Escape or Tribute.

 

A/C problems is pretty much all i can see for the inherent problems of this domestic import..

3.0l v6 is hard on gas when pushed.

 

You picked a good product.

 

 

Randy

[wallyboss]

I had to get the tranny replaced in my Escape 3 years ago at 92,000 kms. I was sure glad I had the extended warranty. Final bill on thta repair was way more than what I paid for the extended warranty. I am not mechanically inclined so none of the mechanical work I can do myself, so I usually get the extended warranty .

[John Bacon]

Ask if the warranty is from Ford or a 3rd party. Most 3rd party warranties (such as Lubrico) will not pay for diagnosis. I have seen a shop bill to the customer for hundreds for diagnosis and a few dollars to the warranty co. for the repair. Also 3rd party warranties usually have a long list of what is covered and what is not. GE capital is one of the best 3rd parties I have seen, in some model cases better coverage than OE. In my opinion go to your local Ford dealer and talk to the mechanics and ask what kind of problems they have seen from your vehicle, if there are a lot of expensive problems coming up on a regular basis it may be worth it. Also check the net googling the model and year for problems. It also depends on how comfortable you are with doing repairs. A $1000 repair bill at the dealer can be less than $200 in parts from a jobber. I personally don't like extended warranties in general they are a money make for the company and the seller but I did purchase one for my wifes previous vehicle using the above and got my moneys worth and more. On her new vehicle I chose not to as it has a very good record for repairs. Hope this helps.

 

Another thing to consider with a 3rd party warranty is the financial stability of the company offering the warranty. My friend purchased an extended warranty for his Jeep Cherokee and the warranty company went bankrupt. He ended up having to pay for both the extended warranty and the many, many repairs to his vehicle.