Who is getting a Ranger extended warranty? - POLL

[Roofhopper]

It's called time value of money. I can make more money doing my job than having to use my valuable time turning wrenches on my truck because it's broke. Of course there was a time when my income was not high enough for this metric to work in my favor, but then again I wasn't buying new vehicles at that time so purchasing a warranty was a moot point

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[RodSlinger]

It's called time value of money. I can make more money doing my job than having to use my valuable time turning wrenches on my truck because it's broke.

So you take it to an independent shop instead. Far more value for your money and time. It will probably be closer to your home or work and most of the time it will get done faster and cheaper.

 

[tugger]

Getting warranty 6-7 years 150,00.All the technology,sensors etc..One or two problems would exceed the cost of the extended warranty!!! Peace of mind especially while you are still paying off your loan.

 

[RodSlinger]

Getting warranty 6-7 years 150,00.All the technology,sensors etc..One or two problems would exceed the cost of the extended warranty!!! Peace of mind especially while you are still paying off your loan.

Sure.... IF you let yourself get hosed with dealer prices. If you really want to buy an extended warranty, go buy a few scratch off lottery tickets. You have about the same chance of breaking even.

 

[bka0721]

I will be on the fence on this decision of buying an extended warranty. In the past I have purchased one and haven't for my trucks and Explorer. At no time have I ever used any of the features of the warranty.

What I would like to know would be those that have purchased the Ford ESP, in the past, have you had service without drama from Ford in using the ESP? Did they nickel and dime you when you came in for the repairs of what was covered and not covered leaving you standing there wondering why you even purchased the plan?

Thanks.

 

[Ibeejd]

Sure.... IF you let yourself get hosed with dealer prices. If you really want to buy an extended warranty, go buy a few scratch off lottery tickets. You have about the same chance of breaking even.

What dealer ripped you off Dude? Not every one of them is "out to get you" and not all of them are trying to feed you kool-aid. They go home to families and pets not bubbling cauldrons and serpents. Service contracts have value.....but the value is different to everyone. What you base your value on makes them unwise...for you. Others place value on convience, time management, cash flow etc.....and that doesnt make it wrong for them.

 

[RedlandRanger]

What dealer ripped you off Dude? Not every one of them is "out to get you" and not all of them are trying to feed you kool-aid. They go home to families and pets not bubbling cauldrons and serpents. Service contracts have value.....but the value is different to everyone. What you base your value on makes them unwise...for you. Others place value on convience, time management, cash flow etc.....and that doesnt make it wrong for them.

I view extended warranties like insurance - you hope you never need it, but if you do, you will be glad you have it.

 

[Roofhopper]

Time is money and for me the math is simple.
6 year 75k bumper to bumper warranty w/tire, bulb and rental coverage cost me $1800
1-2 Days doing a furnace/AC install side job pays $1500-3000
1 week of work at day job $1500 w/o OT
So me spending 1 weekend working on my own truck (outside of mods or stuff I feel like doing) costs me double what I paid for the premium care

 

[RodSlinger]

What dealer ripped you off Dude?

None. I don't willingly let them. I'll follow the service specs in the manual and let the dealer do them if competitive. I do recognize that cars don't need the service they used to and it affects their bottom line. But they push things too far to make up for it sometimes. Actually most of the time.

My dealer if honest with me. He doesn't push things he knows I don't need and I don't let the other customers know they should pass on the 15k transmission service.

I was in a dealer last week getting a 12k service and ECM update and the service reps were constantly pushing services that nobody in there needed. They sold one lady an alignment and intake service on a car with 16k miles on it for $435.00

Ouch......

 

[RodSlinger]

Time is money and for me the math is simple.
6 year 75k bumper to bumper warranty w/tire, bulb and rental coverage cost me $1800
1-2 Days doing a furnace/AC install side job pays $1500-3000
1 week of work at day job $1500 w/o OT
So me spending 1 weekend working on my own truck (outside of mods or stuff I feel like doing) costs me double what I paid for the premium care

Same for me. I have to maintain 143 rental houses so losing the work truck at the wrong time is brutal.

Speaking of time.... You need to figure the time dealing with just going back and forth to the dealer and waiting to get your vehicle back. Most issues I've ever encountered I could repair myself in less time than it took just to drive to the dealer.

I had a coil pack and valve cover fail on our Chevy Sonic while in warranty. I just fixed it myself as it was faster and cheaper on my time.

 

[RodSlinger]

I view extended warranties like insurance - you hope you never need it, but if you do, you will be glad you have it.

They are usually pitched this way but they really don't compare. Car insurance is required and protects you from potentially catastrophic accident costs. Such as totaling out someone else's Tesla X plus their medical costs.

Same for health insurance. I don't think anyone here is prepared for a $500k hospital bill.

When an out of warranty car repair gets to that level let me know and I'll sign up.

 

[RedlandRanger]

They are usually pitched this way but they really don't compare. Car insurance is required and protects you from potentially catastrophic accident costs. Such as totaling out someone else's Tesla X plus their medical costs.

Same for health insurance. I don't think anyone here is prepared for a $500k hospital bill.

When an out of warranty car repair gets to that level let me know and I'll sign up.

That is true - and it depends on one's perspective I guess. But if you had a 10k repair bill at 100k miles, most people would have a hard time paying that out of pocket. I guess the other thing is that while the potential costs are less, the cost of the "insurance" is less. Most of the policies I've seen have been < $2000 for 6-8 years of coverage (so like $30/month or less), whereas car insurance or health insurance is WAY higher than that.

With all that said, I'm not going to be getting an extended warranty for my Ranger when it arrives. We did purchase one for our C-Max due to all the high tech stuff in it, however. I can see the peace of mind they bring for a relatively low cost. I can also appreciate "rolling the dice" and not having one.

 

[VAMike]

That is true - and it depends on one's perspective I guess. But if you had a 10k repair bill at 100k miles, most people would have a hard time paying that out of pocket. I guess the other thing is that while the potential costs are less, the cost of the "insurance" is less. Most of the policies I've seen have been < $2000 for 6-8 years of coverage (so like $30/month or less), whereas car insurance or health insurance is WAY higher than that.

They're only less in a sense: most people aren't going to hit that 100k miles in 6-8 years, so they wasted the <$2000 and still have the $10k repair bill at 100k. I've gotten extended warranties before, specifically because of worries about the electronics, then seen no electronics problems but major drivetrain issues after the extended warranty was done. I'll probably wait and see, and not get an extended plan unless some kind of major problem with the ranger pops up in the next couple of years.

 

[RedlandRanger]

They're only less in a sense: most people aren't going to hit that 100k miles in 6-8 years, so they wasted the <$2000 and still have the $10k repair bill at 100k. I've gotten extended warranties before, specifically because of worries about the electronics, then seen no electronics problems but major drivetrain issues after the extended warranty was done. I'll probably wait and see, and not get an extended plan unless some kind of major problem with the ranger pops up in the next couple of years.

That is what I'm going to do - unless I have issues with the Ranger during its factory warranty I'm not going to get an extended warranty - I will "roll the dice". The drivetrain seems to be pretty well proven, so I'm not expecting drivetrain issues.

 

[SubVet]

I expect to purchase the next Gen Ranger or Tacoma. I won't have 20K miles on my truck when I sell it. I would only buy a deep discounted Service Contract (they are not warranties) As Flood Ford offers. The only issue I have with branded service contracts is that we HAVE to use the dealer and I know how much techs hate to do warranty work. My next vehicle may very well be my last so I will consider the ESC on merit unless I find a great local shop.

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