ESP - Extended Service PLan from Ford - is it as good as regular warranty?
09-01-2009, 04:44 AM
#11
3rd Gear Member
Join Date: Nov 2007
Location: Detroit Area
Posts: 894
This thread is for those who do not want to modify and improve their Mustang's performance. I don't see the point in buying the car if it remains stock, and can be out run by pick ups, and out cornered by SUV's.
The standard warranty is fine if those part are not related to real performance increases.
The dealers are like Vegas Casinos, and their service departments charge double that of experienced performance shops.
Extended warranties again are for those who don't change the car, as the dealer will blame any after market change for causing an unrelated problem, and announce that doing anything to the car voids a warranty. The odds are stacked that most everyone will not have a serious issue before 5 or 6 years, so extended warranties simply put added money in the dealers pockets.
I frankly wouldn't let a dealership service dept. change my oil. Erik
The standard warranty is fine if those part are not related to real performance increases.
The dealers are like Vegas Casinos, and their service departments charge double that of experienced performance shops.
Extended warranties again are for those who don't change the car, as the dealer will blame any after market change for causing an unrelated problem, and announce that doing anything to the car voids a warranty. The odds are stacked that most everyone will not have a serious issue before 5 or 6 years, so extended warranties simply put added money in the dealers pockets.
I frankly wouldn't let a dealership service dept. change my oil. Erik
09-01-2009, 05:09 AM
#12
5th Gear Member
Join Date: Feb 2007
Location: Hawaii
Posts: 2,211
not sure what Mustang you have...but the only Truck that would be any competition against mine would be a Lightning or a SRT-10. maybe my old RoushCharged 2006 F-150...but once the Revs hit 2,000 RPM, no way
09-01-2009, 07:06 AM
#13
5th Gear Member
Join Date: Aug 2006
Location: Near Wash. DC Posts: 13,541
Posts: 2,497
http://www.consumerreports.org/cro/c...-contracts.htm
Aftermarket warranties are something like almost complete profit which is why the FCC had to forbid robocalling because aftermarket warranties were so profitable hundreds of companies essentially launched the biggest ad campaign in history to get people to buy non functional aftermarket warranties..
Factory warranties are not very profitable if you want to see if extended warranties are a good or bad investment Consumer Reports actually figured out the exact profitability of extended auto warranties by manufacturer. If you want to buy a cheap consumer reports subscription it might save you some money in the long run, I haven't seen their data but it would be good buying advice. It's $6 to find out if you $1400 investment will be a good idea. I'd go for it and post the info you learned too.
Aftermarket warranties are something like almost complete profit which is why the FCC had to forbid robocalling because aftermarket warranties were so profitable hundreds of companies essentially launched the biggest ad campaign in history to get people to buy non functional aftermarket warranties..
Factory warranties are not very profitable if you want to see if extended warranties are a good or bad investment Consumer Reports actually figured out the exact profitability of extended auto warranties by manufacturer. If you want to buy a cheap consumer reports subscription it might save you some money in the long run, I haven't seen their data but it would be good buying advice. It's $6 to find out if you $1400 investment will be a good idea. I'd go for it and post the info you learned too.
09-01-2009, 11:44 AM
#14
6th Gear Member
If I suspect a car is going to cause me that kind of trouble that would make an extended warranty necessary, then I won't but that car. IMO, that means you KNOW your car is a POS. Maybe it's all those Toyotas I've owned (6) that have gone over 150,000 and most of them over 200,000 miles with not much more than oil changes...
09-01-2009, 11:49 AM
#17
2nd Gear Member
Join Date: Jul 2009
Location: FL
Posts: 199
I ran the numbers and decided the experts are correct, it's not worth it. The odds of me blowing over 1400 bucks in repairs over the next 3 years is not likely. Plus we have the power train warranty up till 5 years.. I wouldn't waste your money, you are gambling that your car will fall apart...
We live in a society that no longer takes pride in fixing your own car. People will say they are too complex, I say bs... A water pump is a water pump is a water pump. Buy a 40 dollar scanner from auto zone. Plus you have the internet and all the manuals from ford online for free... A monkey could change half the parts that will fail on these cars. A head gasket is a 2 dollar part...
BTW, I'm not even good with my hands, I just learn as I go.
We live in a society that no longer takes pride in fixing your own car. People will say they are too complex, I say bs... A water pump is a water pump is a water pump. Buy a 40 dollar scanner from auto zone. Plus you have the internet and all the manuals from ford online for free... A monkey could change half the parts that will fail on these cars. A head gasket is a 2 dollar part...
BTW, I'm not even good with my hands, I just learn as I go.
09-01-2009, 12:35 PM
#19
2nd Gear Member
Join Date: Jul 2007
Location: Washington
Posts: 419
it's not a warranty. Only the manufacturer can warranty something. Even then, Ford offers the consumer a warranty, the dealerships do the work and charge Ford.
What you get when you buy an 'extended warranty' is mechanical breakdown insurance. It's an insurance policy, nothing else. Insurance companies NEVER lose money. There are actuary tables made for each car, engine type, etc. Then based on how many breakdowns per mile, year, etc the insurance charges that, AND a healthy profit for themselves AND a healthy commission to the insurance agent, or seller.
For a few, mechanical breakdown insurance is a money saver, but for the biggest percent of the buyers you pay and never collect.
And as insurance companies are all about the bottom line, otherwise known as profit, you have to be very careful and read the fine print. Many, many, many claims are turned down for improper procedure.
Just know what you're getting for your hard earned dollar. It's not a warranty, it's insurance.
What you get when you buy an 'extended warranty' is mechanical breakdown insurance. It's an insurance policy, nothing else. Insurance companies NEVER lose money. There are actuary tables made for each car, engine type, etc. Then based on how many breakdowns per mile, year, etc the insurance charges that, AND a healthy profit for themselves AND a healthy commission to the insurance agent, or seller.
For a few, mechanical breakdown insurance is a money saver, but for the biggest percent of the buyers you pay and never collect.
And as insurance companies are all about the bottom line, otherwise known as profit, you have to be very careful and read the fine print. Many, many, many claims are turned down for improper procedure.
Just know what you're getting for your hard earned dollar. It's not a warranty, it's insurance.
