Is Extended Warranty Worth It (even at $25 over dealer cost)?

[harringtondav]

I guess the moral of the story is to always buy an extended warranty - then you'll never have problems!

True for me....so far.
Before 2014 the newest vehicle we owned was a 2005 Sebring 2.4L It was well w/in my diagnostic and repair skills.
Then I bought our 2014 Dart Aero. I bought the factory CD service manual for a look see. Multiair intake, DDCT clutch module. Both non repairable. More EFI inputs/outputs than I could say grace over. And I was getting old and tired of DIY wrenching. So I bought Mopar's lifetime warranty. (Pays up to the cash value of the car, or cashes us out the same amount).
Same with the 2016 Cherokee. Thermostat replaced on the Cherokee, coolant leak on the Dart covered....less deductible.
2019 Ranger. I bought the 7/70K ESP. One covered wiring repair so far. If the 10R80 doesn't puke w/in a year I can write off the $1000 ESP cost to experience.

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[Burnt Money]

Knowing what I know now I probably would have bought the extended warranty when I bought my truck. So far I’m over the 100k mark so it would have been wasted money. But I would have the peace of mind I guess. I’ve never bought an extended warranty before, but if I buy another new vehicle I would probably consider it. With all the stuff with vehicles now the risk versus reward seems one sided. Honestly my wife and I have never taken a vehicle in for warranty work in the 17 years we’ve been together now that I think of it.

 

[OldHippy]

I am approaching the 36k mark on my '23 Ranger. Is buying the extended warranty worth it even around dealer cost? I'm curious your decision point (yes/no) and how much you extended if you did?

I will suggest that you Research the companies you are going to get it from. Some of these extended warranty companies are worthless. My ex had one that didn't want to cover a broken timing belt because they didn't cover " belts". Have to read the small print for sure.

 

[awd.nv]

YES YES YES, I always recommend them to fam and friends as these vehicles are so much more modern. The one I purchased for the Ranger already paid for itself and 68k miles. Not to mention possible trans issues we face with the truck.

50k I had an engine replaced but Ford power train covered that. #4 rod bearing bad, others fine. Probably was bad machining tolerances.

~64k miles (this year) my AC compressor locked up. They also replaced the heater box assembly because one side was not blowing as cold as the other. Now that it is winter I can tell that fixed the clicking I would get in the mornings from the stepper motors adjusting the output location. This repair alone I can only guess would have been over $4k with parts and labor and if I recall the extended warranty was in the $2k range.

I am hoping if/when the trans gives me issues it happens when this is still under the extended warranty, then I will feel like I made out ok. Still wish trucks were bullet proof but this I guess is the second best scenario. Fixed under "warranty"

Also made out well on the extended warranty on our 2016 Honda Pilot. The injectors alone they replaced for a misfire covered the cost of extended warranty. Then we had a good advisor that was able to word an axle and control arm bushing just right so the extended warranty covered it.

I will suggest that you Research the companies you are going to get it from. Some of these extended warranty companies are worthless. My ex had one that didn't want to cover a broken timing belt because they didn't cover " belts". Have to read the small print for sure.

I agree with that, both our extended warranties were purchased at the dealer but I have heard of some cases where they try to get out of claims. Our friend had one try to not do her Suburban trans due to her 1" taller than stock tires. Then they used a junk yard trans for the repair and less than 10k miles that failed. All I know she is shopping for a new vehicle now.

 

[Murphie]

As many others have said, extended warranties are 'peace of mind' assurance. I've bought a few in my life, really only used it on my 2019 Ranger (bought new). I had the APIM replaced and the transmission rebuilt according to the latest TSB.

 

[ScarzRanger21(2.0)]

I am approaching the 36k mark on my '23 Ranger. Is buying the extended warranty worth it even around dealer cost? I'm curious your decision point (yes/no) and how much you extended if you did?

My wife’s ranger recently had the transmission rebuilt. Because it was still under warranty, all costs were covered and I didn’t pay a dime out of pocket. Otherwise, I would’ve been out $6500ish for the repair. My truck is coming up on 70k miles and my transmission has been running rough the last few weeks. Ironic that mine started acting up right after we got hers fixed… I’m hoping that replacing the DPFE sensor fixes the problem. If not, I’ll be out a decent chunk of change to have it rebuilt/replaced.

I definitely think the extended warranty is worth it. Especially since our trucks are KNOWN to have transmission problems. Some make it to 100k miles without any issues, others have their transmission grenade at 10k. It seems the 10r80 transmission is a crapshoot. Knowing that, I would absolutely purchase an extended warranty, or be prepared to drop $6-7 grand on a rebuild…

 

[aaiceman]

I bought up to the 9yr, 100k Ford ESP on my 21 ranger lariat. I'm at about a bit under 50k miles now. I haven't had to use it so far, but on a previous car (2015 honda fit), I had electrical problems and it saved m from a $1500 repair bill and that was for the single lcd cluster display it had. I shudder to think the cost and complexity of replacing a broken part these days and with current supply chain rising costs.

So I think Ford has some of the better trucks and the rangers are well made, compared to others? Yes. Do I think things can and will still go wrong? Yes. So it's peace of mind that I purchased.

 

[dtech]

Purchased a Ford Protect extended warranty, 1st time ever bought an extended warranty on anything, did so because of the numerous reports of HVAC failures on 2019, but thus far my 2019 Ranger has had no issues. Anyways my extended warranty expires 03/2026 , I think I had bought 3 yrs of coverage for $800 , the cost to extend it for another 3 yrs or 160k miles is waaaaay too much, so I'm done with extended warranties, the cost for standard plus was $2,500, no thanks.

 

[stringbreaker]

Get it when the transmission craters you will wish you had it unless you are independently wealthy

 

[dtech]

Get it when the transmission craters you will wish you had it unless you are independently wealthy

As it so happens thru aggressive investing I am financially well off - but part of achieving that was not buying things like extended warranties, life insurance, carrying high deductibles on any insurance, paying a financial person to manage my assets and so on, going without a tailgate damper and of course diso'd the bms to extend battery life. So if the tranny gives it up that's a risk i'm willing to take.

 

[Tako]

Every extended warranty for new car purchases has been utilized and repairs have out weighed the initial cost of the extended warranty. My Ranger had climate control repairs.

 

[Ranger_Rocks]

If you sell or trade before the Ford ESP expiration, they will refund the balance minus a small fee.

Our ESP was through Zeigler Ford. Entered a few data items on their website, then they promptly processed our refund and mailed the check.

"Depending on your state, Ford charges a $50 to $75 cancellation fee and pro-rates the refund amount based on the remaining time and/or mileage on the contract."

 

[AzScorpion]

If you sell or trade before the Ford ESP expiration, they will refund the balance minus a small fee.

Our ESP was through Zeigler Ford. Entered a few data items on their website, then they promptly processed our refund and mailed the check.

"Depending on your state, Ford charges a $50 to $75 cancellation fee and pro-rates the refund amount based on the remaining time and/or mileage on the contract."

I got both of mine through Flood Ford. When I had my accident in my '19 Ranger I just sent them the insurance docs and within a couple days I had the money (pro rated) refunded right back to me. There wasn't any additional fees in AZ either.

 

[RangerDanger617]

My '23 is hitting it's 3 year anniversary, thus the factory warranty is coming up rapidly. I glanced at the prices from Granger and Flood Ford. Thoughts?
I do plan on keeping it for the longterm. It's been very good to me. The only issue was the LED strip on one tail light failed within the first year, but was replaced at no cost. This was my first new vehicle and first Ford.

 

[AzScorpion]

My '23 is hitting it's 3 year anniversary, thus the factory warranty is coming up rapidly. I glanced at the prices from Granger and Flood Ford. Thoughts?
I do plan on keeping it for the longterm. It's been very good to me. The only issue was the LED strip on one tail light failed within the first year, but was replaced at no cost. This was my first new vehicle and first Ford.

If you're planning on keeping it IMHO it's a good idea to have one. Some will disagree and just put money aside and roll the dice which is a fine option too. I look at it just like I look at all the other insurance I have. It's there if I need it and I hope I never have to use it. BTW I bought mine from Flood within the first year of buying my '23 and went with the 10/100K. Good luck with your decision

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