Who is getting a Ranger extended warranty? - POLL

Who is getting an extended warranty?


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Mokume

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An extended warranty is an insurance policy, I bought Ford's offering for my 2020 Lariat primarily because of the electronics onboard.
While on the subject of an extended warranty, I just made my investment back on a policy I took out 3 years ago on a refrigerator. The electronic display went kaput last month and was replaced under the terms of coverage of the policy, parts and labor would have been almost $500, I paid just $300 for the warranty, so I am ahead already.
Some may have enough financial discipline to set aside monies for unforeseen repairs on their possessions, I am definitely not one of those...:shock:
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AzScorpion

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I'm thinking more and more about it...not because of mechanical but all the darn electronics on these new vehicles.

If I kept my vehicles longer than 3 years I would definitely buy one just for the this very reason. There are to many computers on board now. It's not a question of if they are going to fail it's when are they going to fail.
 

Murphie

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An extended warranty is an insurance policy, I bought Ford's offering for my 2020 Lariat primarily because of the electronics onboard.
While on the subject of an extended warranty, I just made my investment back on a policy I took out 3 years ago on a refrigerator. The electronic display went kaput last month and was replaced under the terms of coverage of the policy, parts and labor would have been almost $500, I paid just $300 for the warranty, so I am ahead already.
Some may have enough financial discipline to set aside monies for unforeseen repairs on their possessions, I am definitely not one of those...:shock:
I'm 50/50 on extended warranties for vehicles. I did buy one for my Ranger as I anticipate keeping it for 7 years or more. My only worry is that I may exceed the mileage before the time.

You mention appliances ... over the past 10 years or so we've bought extended warranties from both Home Depot and Lowe's. We had a washer that was repaired twice for the same issue. When we called to have the same problem repaired again, they did a buy back - paid us in full. We also had a gas cooktop where two of the ignitors were defective, but no longer available. So they offered a full replacement of a comparable model, or a buy back.
 

Gizmokid2005

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Is the price different on the Ford ESP if I buy on day one or year 3 right before the factory warranty runs out? Does it cost more to wait?
Generally I haven't personally seen the prices go up as time goes on.

Waiting until later doesn't really do much either, except compress the time you have to get your return on investment.

ESPs start at the original in-service date of the vehicle, and purchase miles (for me, it would be 34 miles). So if you buy an 8y/100k when you purchased the truck for $1500, you would have 8 years and 100k miles to pay off the $1500 while still being covered.

On the flip side, if you buy the 8y/100k warranty for $1500 when you've had the truck for 5 years and 55k miles, that means you only have 3 years/45k to pay off the $1500 while still being covered.

Ultimately it doesn't matter all that much in terms of being covered, but to some people the math matters.

I'll almost certainly be buying one, but likely when the B2B 3/36 ends for me, mostly as piece of mind. I almost had to use the one for my '15 Mustang when the catalytic converter had to be replaced after the weld for the bracket wore through and started rattling. That was $1800 saved because of the emissions warranty.
 


landiscarrier

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Generally I haven't personally seen the prices go up as time goes on.

Waiting until later doesn't really do much either, except compress the time you have to get your return on investment.

ESPs start at the original in-service date of the vehicle, and purchase miles (for me, it would be 34 miles). So if you buy an 8y/100k when you purchased the truck for $1500, you would have 8 years and 100k miles to pay off the $1500 while still being covered.

On the flip side, if you buy the 8y/100k warranty for $1500 when you've had the truck for 5 years and 55k miles, that means you only have 3 years/45k to pay off the $1500 while still being covered.

Ultimately it doesn't matter all that much in terms of being covered, but to some people the math matters.

I'll almost certainly be buying one, but likely when the B2B 3/36 ends for me, mostly as piece of mind. I almost had to use the one for my '15 Mustang when the catalytic converter had to be replaced after the weld for the bracket wore through and started rattling. That was $1800 saved because of the emissions warranty.
Thanks for the response. That makes sense. I plan on having this truck for awhile so I think I’ll be adding it and the prices from Flood Ford are tough to beat!
 

JimG_AZ

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If I kept my vehicles longer than 3 years I would definitely buy one just for the this very reason. There are to many computers on board now. It's not a question of if they are going to fail it's when are they going to fail.
I know of nobody who has had an ECM fail. I am sure it happens, but it is not common. The overhead temperature display failed on my brothers F-250. In that case it was a resistor that failed. I guess he got lucky since there was a YouTube video on how to fix it and the resistor only cost him a few dollars. When I purchased my Mustang from Surprise Ford, the finance guy tried his hardest to scare me that a computer failure would cost me thousands. In reality, if a computer module does fail, it will get removed from my vehicle, sent to an electronics repair facility and the failed component would be repaired for hundreds of dollars rather than thousands. I know it is strange, but when these circuit boards fail, it is usually the same component that fails.
 

JimG_AZ

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Generally I haven't personally seen the prices go up as time goes on.

Waiting until later doesn't really do much either, except compress the time you have to get your return on investment.

ESPs start at the original in-service date of the vehicle, and purchase miles (for me, it would be 34 miles). So if you buy an 8y/100k when you purchased the truck for $1500, you would have 8 years and 100k miles to pay off the $1500 while still being covered.

On the flip side, if you buy the 8y/100k warranty for $1500 when you've had the truck for 5 years and 55k miles, that means you only have 3 years/45k to pay off the $1500 while still being covered.

Ultimately it doesn't matter all that much in terms of being covered, but to some people the math matters.

I'll almost certainly be buying one, but likely when the B2B 3/36 ends for me, mostly as piece of mind. I almost had to use the one for my '15 Mustang when the catalytic converter had to be replaced after the weld for the bracket wore through and started rattling. That was $1800 saved because of the emissions warranty.
First, if you end up selling back a warranty, they are usually prorated from the time you buy it. In the event you decide to sell the car or have a total loss (like I did on my Mustang), while the B2B manufactures warranty is still in effect, you will lose money. Second, if you roll the warranty into a loan, chances are good you are paying interest on the cost of the warranty, which means it is now more expensive. Third, if you roll the cost of the warranty into your loan, you potentially just increased negative equity in your car. IMO, if you want to buy one of these, buy it right before the manufactures B2B warranty expires.
 

Gizmokid2005

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First, if you end up selling back a warranty, they are usually prorated from the time you buy it. In the event you decide to sell the car or have a total loss (like I did on my Mustang), while the B2B manufactures warranty is still in effect, you will lose money. Second, if you roll the warranty into a loan, chances are good you are paying interest on the cost of the warranty, which means it is now more expensive. Third, if you roll the cost of the warranty into your loan, you potentially just increased negative equity in your car. IMO, if you want to buy one of these, buy it right before the manufactures B2B warranty expires.
Like I said, to some the math matters. And my post was under the impression you don't get rid of the vehicle and refund part of the warranty. I did this on my Mustang which was a nice bonus to it, you're not out the entire cost if you don't have it for the length, good on Ford for that.
 

AzScorpion

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I know of nobody who has had an ECM fail. I am sure it happens, but it is not common. The overhead temperature display failed on my brothers F-250. In that case it was a resistor that failed. I guess he got lucky since there was a YouTube video on how to fix it and the resistor only cost him a few dollars. When I purchased my Mustang from Surprise Ford, the finance guy tried his hardest to scare me that a computer failure would cost me thousands. In reality, if a computer module does fail, it will get removed from my vehicle, sent to an electronics repair facility and the failed component would be repaired for hundreds of dollars rather than thousands. I know it is strange, but when these circuit boards fail, it is usually the same component that fails.
Your brother got lucky and was able to fix it himself and relatively cheap but that's not always the case. With all the sensors, cameras and other computers on board now it makes sense to have one IF you're going to be keeping it any length of time after the 3/36 is over. Not everyone can or wants to fix it themself.

Now I admit I've never really looked into them but if this also covers the powertrain like the original bumper to bumper than it's really a no brainer. One tranny or engine issue could/will cover the cost instantly.

Sorry but just because you don't know anyone that has never had an ECM issue is like me saying I don't know anyone who's had a heart attack, which I don't. But I have health insurance for the piece of mind in case I get one or something else. YMMV
 

Mokume

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If I kept my vehicles longer than 3 years I would definitely buy one just for the this very reason. There are to many computers on board now. It's not a question of if they are going to fail it's when are they going to fail.
Exactly!
 

2019hotpepper4x4

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First time I ever bought extended warranty was on this truck. Mostly due to the possibility of electronic failure and that I average about 20-25k a year right now. It was worth it to me to have the warranty until it was at least paid off.
 

JimG_AZ

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Your brother got lucky and was able to fix it himself and relatively cheap but that's not always the case. With all the sensors, cameras and other computers on board now it makes sense to have one IF you're going to be keeping it any length of time after the 3/36 is over. Not everyone can or wants to fix it themself.
You are correct that most people do not want to or do not have the right skill set to fix electrical issues. On the flip side, many private garages employ mechanics that can easily remove the circuit boards and send them to a repair facility or have then exchanged for a rebuilt board.

Now I admit I've never really looked into them but if this also covers the powertrain like the original bumper to bumper than it's really a no brainer. One tranny or engine issue could/will cover the cost instantly.

Sorry but just because you don't know anyone that has never had an ECM issue is like me saying I don't know anyone who's had a heart attack, which I don't. But I have health insurance for the piece of mind in case I get one or something else. YMMV
Keep in mind that the warranty companies are in it for profit and not for after-warranty customer satisfaction. No doubt that extended warranties have paid off for some people. How many times though have we heard something like that vehicle is a PO?, it is on its 3rd transmission, etc. My friends who are mechanics tell me that this is commonly the result of the warranty company not approving the complete repair. Basically just doing enough to get the car back running and hopefully through the warranty. The repair shop is at the mercy of the warranty company on getting paid. I have also heard that it is common to have junior mechanics doing warranty work.

If someone feels they would sleep better at night with the extended warranty, go ahead and buy one. If I were to buy one, I would wait until the B2B warranty was just about to run out and buy it then, Personally, I am a believer in maintaining an emergency fund for repairs. Sure it is a gamble, but I am way ahead from doing this. I just had to dig into the emergency fund a month ago when the Delphi compressor in my Tacoma broke and contaminated the ac system. It was painful to write a $2100 check for the repair, but thankfully the money was in the account. BTW, the truck is 9 years old and if I had the ESP, it would have most likely expired at 8 years.
 

Gizmokid2005

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You are correct that most people do not want to or do not have the right skill set to fix electrical issues. On the flip side, many private garages employ mechanics that can easily remove the circuit boards and send them to a repair facility or have then exchanged for a rebuilt board.



Keep in mind that the warranty companies are in it for profit and not for after-warranty customer satisfaction. No doubt that extended warranties have paid off for some people. How many times though have we heard something like that vehicle is a PO?, it is on its 3rd transmission, etc. My friends who are mechanics tell me that this is commonly the result of the warranty company not approving the complete repair. Basically just doing enough to get the car back running and hopefully through the warranty. The repair shop is at the mercy of the warranty company on getting paid. I have also heard that it is common to have junior mechanics doing warranty work.

If someone feels they would sleep better at night with the extended warranty, go ahead and buy one. If I were to buy one, I would wait until the B2B warranty was just about to run out and buy it then, Personally, I am a believer in maintaining an emergency fund for repairs. Sure it is a gamble, but I am way ahead from doing this. I just had to dig into the emergency fund a month ago when the Delphi compressor in my Tacoma broke and contaminated the ac system. It was painful to write a $2100 check for the repair, but thankfully the money was in the account. BTW, the truck is 9 years old and if I had the ESP, it would have most likely expired at 8 years.
I largely agree with you. However the one difference is that Ford's extended warranty is serviced by them instead of some third party company, and every dealership I've talked to who has had/dealt with others switched to only Ford plans due to the better quality of the coverage and the way the plans work.

Ford's ESP isn't really comparable to some third party servicer.
 

caprtaineddie

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My last truck, a 2016 Canyon started having problems with its electronics one month out of warranty. That's why I bought a Ford ESP for the Ranger.
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