Chris45215

My 2007 V6 (premium, no pony package, no mods whatsoever yet, formerly a rental car) is almost at its 35,900 mile mark and about to pass the factory warranty.
Tomorrow, I am taking it in to have the following things checked out:
leftmost taillight burnt out (but it does light up when I press the unlock button, strangely)
breaks squeak a little bit
driver side mirror has a short rattle sometimes when closing the door
folding latch on back of passenger seat broke.

I don't put many miles on it, so I can extend the warranty to 6 years and 60,000 miles for $695, with no deductible. This would be under the ExtraCare level of coverage. The better PremiumCare plan covers tons of electronics my car does not have (and therefore is not worth it). You can find a beautiful comparison of the various plans at http://www.flmowner.com/servlet/Cont...ESPWizardStep1


I intend to get a tuner and CAI in December, but could take those off before going for a service, and want to upgrade to the GT brakes if possible (I don't have the larger wheels, though).

Would the warranty be worth it? As the official Ford warranty, it should be quite good, and $695 seems very cheap with no deductible.

07 Stang

I just checked a quote for the PremiumCare and 0 deductible and mine would be $650.00 for 3 years or 36,000 miles. Or I could get the ExtraCare plan and 0 deductible for $575.00 for 3 years or 36,000 miles.
I wonder if I should bite the bullet too???

It does seem strange that mine would be so high and would only offer 3 years with so little miles on my car. I only have 6882 on it.

Nuke

You'll get a lot of pros and cons on extended warranties. I lean towards con. In all my 38 years of driving and personally owning over 12 cars (totaling over 1,400,000 miles), I've never had an instance where any of them that had an extended warranty would have paid off. I'd have lost $$ of every one. But that's just my opinion. I'm sure you young pups know better...

07 Stang

Hey Nuke, I'm 50 years old so no "young pup" here.
I've never gotten an extended warranty either on any car I have ever owned, but I have always questioned it.

Chris45215

07 Stang, I think it depends a bit on the website you use - there is also a processing charge, which only some of the websites show upfront. There also may be a price difference depending on state (I assume it is more because of different state laws, rather than weather or driving habits). I just ran your numbers through Fordwarrantys.com and it said $755 to extend your warranty to 2013 and up until 36,000 miles with 0 deductible (it sounds like you put almost no miles on it, so no need to extend that number). Also, unless you have Satnav and tons of other electronics, I doubt the premiumCare plan would be more useful, as long as you always have good mechanics who don't screw the car up. The question is, how long do you intend to own the car, and how much value will the extended warranty add to the car when you do sell it?

I believe the current price of extended warranties is lower than normal. This may have something to do with the financial crisis: Ford can collect lots of cash by selling extended warranties now, and does not have to pay out until years later when the auto industry is in better financial shape (when it can afford to pay).

The advantage of the 0 deductible is that I could take the car in for every squeak, rattle, or pop at no cost. Considering that I have only driven the car 5,000 miles (but bought with 30k miles), my list of needed repairs makes me think the warranty would be worth it.

ODDYSEY

Extended warrantys always have hidden "gotchas", don't think it is a security blanket for your car. I don't think they are worth it unless you are buying a car you don't feel comfortable with in the first place.

Ken04

couple of things;

first, ONLY the manufacturer can warranty a product. So what you buy is not a warranty at all but an insurance policy. And as it is an insurance policy odds are you'll pay, and the insurance company won't. That's how ins co's work, they don't ever want to pay out for anything. They have actuary tables for each car, you'll pay for that and a huge profit AND a commisssion.

If you are buying a car that you think may break down, I'd pass on the car. Read the fine print on the MBI, (mechanical breakdown Insurance) you'll be amazed IF you can understand all the legal jargon at all the loopholes the insurance can use to get out of paying for your repairs.

Have you noticed how heavily MBI policies are being pitched on TV commercials lately ? BIG profit, so big the companies are spending millions of dollars for advertising. Where do you think those advertising dollars come from ? Right, the policy holders. So for each $1 you spend for MBI I would guess maybe .10 cents is for actual coverage, they rest is profit, commissions (sometimes up to 50% of the cost) and marketing.