Aftermarket warranty

[archer379]

Well in a moment of weakness I stopped at the local ford dealer on Saturday big mistake went back to day and signed the papers for a 2004 super duty f250. Wondering of any one has any experience with the after market warranty company's they oftered me 5 years or 160000 known top of what's on the truck now. It covers engine transmission seals and gaskets, towing and trip interruption for just $1849.00 I haven't ever bought a used car from a dealer that oftered this sort of thing just wondering if its a good idea or not. Would like some input thanks

[aplumma]

The warranty industry for auto repairs is huge and for only a few is it a smart purchase. First off remember they are their to make money so they are written to make sure they make a profit over the long run. They have analyzed all classes of vehicles and then set a general profitable price plus what the dealer will make on the transactions. If you can take the $1900.00 and put it into a bank account and not touch it then you will get the money back plus interest in a few years. The warranty does not cover the maintenance issues that you will have throughout the life of the truck so it does not count towards using the $1900.00. I have a Nissan Titan that has a price tag of $6000.00 to replace the transmission I then did my homework and found that their was less than 1:1000 chance of it being the one that would fail and be covered by a warranty. I did not purchase the warranty and it would have expired last year I am $2400.00 plus interest richer.

 

 

Art

[mercman]

Art is absolutely correct.Same thing goes for extended warranty on appliances and electronics.Its a huge money maker for the stores/dealers, and the insurance companies.

[Gerritt]

make sure you ask about the deductible on their warranty... trust me

[Billy Bob]

NEVER purchase a extended warranty (as per Consumer Reports)

[bow slayer]

we purchased a used vehicle warranty a few years ago on a ford explorer for about 1700 that was a bumper to bumper warranty for 3 years or 80,000 ks.After a about 4-5 months the front end needed to be basically replaced at a cost of 1600. It cost us 50 bucks. Over the course of the warranty we had about 6500 dollars worth the repairs done and mind you there were times the warranty company was hard to deal with but we made a good investment. On the other hand on a more recently purchased minivan we again paid 1500 for a 3 year warranty (only powertrain) and never had a claim in 3 years,so we looked at it as piece of mind for 500 dollars a year for any major repair.

[bigbuck]

Depends on the vehicle. Some vehicles have a history of problems that get expensive real quick, some don't. Do your homework, what are common issues with the vehicle?? Are they covered?? You are looking at a warranty that covers the powertrain and nothing else. What are the issues with the powertrain??

Claims can also be a big issue, they look for excuses to not pay out. If you have bought a vehicle that has a proven history of reliability, then I wouldn't bother. Keep your money and spend it on maintenance and fishing equipment.

[BillM]

I'd buy an extended Ford warranty, but not a 3rd party...