How much do extended warrantys cost?
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Mine for 5 / 75 was around $1000. Dealer started at over $2k but as I was walking away they offered $23 per month over 5 years. Probably not even worth it, but on my TBird, I wished I had the extended warranty. 60k miles in less than 3 years and enough problems to make me get rid of it.
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Clarification, mine was exactly $1200 for 5 / 75. It was $20 per month for 5 years.
Generally speaking, extended warranties are not a good idea. Having said that, if my last car (E430) had one, I might still have the car. I have an acquintance that sales extended warranties, and they are about 70% profit (commission to the dealer). You'd probably be better of putting your $10-25 in a bank account, and save that for any work outside of warranty. That is if you have the discipline not to spend it. After you sold your car, you would then have all that money in the bank to use on your next car. Dealers love to sell extended warranties because they can cut you a great deal on the car, and still make $700+ on the warranty. I'm hoping Ford has it's act together and reliability will be on par with the Honda/Toyota crowd. The Fusion being based on the Mazda 6 gives me hope.
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The 4/100 000km (60 000miles) that I got with my Fusion (to accompany the lease time) was under 1000C$
i got mine because im in school and cant have anything break on me as long as im in school but the finance guy did pull one on me with the warrenty, the best rate he told me i could get was 5.9 than as soon as i agreed to a warrenty he pulled a 3.9 ... hmmmmm 
but i love my car so w/e
but i love my car so w/eI'll never buy one again. I had a warranty claim on 4 ball joins on my Sport Trac. I was told I could pay the difference for upgraded ones, so I got 4 greasable ones from Moog. The company sent an adjuster out to look at the ones that were removed and they only warrantied ONE!!!!!! I was stuck with a $550 bill.
[quote author=ming321 link=topic=51368.msg819720#msg819720 date=1152757589]
Generally speaking, extended warranties are not a good idea. Having said that, if my last car (E430) had one, I might still have the car. I have an acquintance that sales extended warranties, and they are about 70% profit (commission to the dealer). You'd probably be better of putting your $10-25 in a bank account, and save that for any work outside of warranty. That is if you have the discipline not to spend it. After you sold your car, you would then have all that money in the bank to use on your next car. Dealers love to sell extended warranties because they can cut you a great deal on the car, and still make $700+ on the warranty. I'm hoping Ford has it's act together and reliability will be on par with the Honda/Toyota crowd. The Fusion being based on the Mazda 6 gives me hope.
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My dad had way too much trouble with his Tauruses in the past for me not to consider an extended warranty. Everybody so far seems like ~6/80k at $1000 with a little bit of haggling.
That seems reasonable, I have heard around $1500 from most dealers. Toyota warranties are about $700 for 6/100k.
And having a warranty really helps financially not having to worry about unexpected repairs. This is especially important to me (and partly the reason I want to buy new) since I am in college and having basically negative income till I get out.
Generally speaking, extended warranties are not a good idea. Having said that, if my last car (E430) had one, I might still have the car. I have an acquintance that sales extended warranties, and they are about 70% profit (commission to the dealer). You'd probably be better of putting your $10-25 in a bank account, and save that for any work outside of warranty. That is if you have the discipline not to spend it. After you sold your car, you would then have all that money in the bank to use on your next car. Dealers love to sell extended warranties because they can cut you a great deal on the car, and still make $700+ on the warranty. I'm hoping Ford has it's act together and reliability will be on par with the Honda/Toyota crowd. The Fusion being based on the Mazda 6 gives me hope.
[/quote]
My dad had way too much trouble with his Tauruses in the past for me not to consider an extended warranty. Everybody so far seems like ~6/80k at $1000 with a little bit of haggling.
That seems reasonable, I have heard around $1500 from most dealers. Toyota warranties are about $700 for 6/100k.
And having a warranty really helps financially not having to worry about unexpected repairs. This is especially important to me (and partly the reason I want to buy new) since I am in college and having basically negative income till I get out.
[quote author=Showtime link=topic=51368.msg821957#msg821957 date=1152831257]
I'll never buy one again. I had a warranty claim on 4 ball joins on my Sport Trac. I was told I could pay the difference for upgraded ones, so I got 4 greasable ones from Moog. The company sent an adjuster out to look at the ones that were removed and they only warrantied ONE!!!!!! I was stuck with a $550 bill.
[/quote]Was this a Ford warranty? This sounds like you had some sort of 3rd party warranty.
I'll never buy one again. I had a warranty claim on 4 ball joins on my Sport Trac. I was told I could pay the difference for upgraded ones, so I got 4 greasable ones from Moog. The company sent an adjuster out to look at the ones that were removed and they only warrantied ONE!!!!!! I was stuck with a $550 bill.
[/quote]Was this a Ford warranty? This sounds like you had some sort of 3rd party warranty.
Ford offers different levels of coverage: Powertrain Care, Base Care, Premium Care, etc. and different out-of-pocket deductibles. I got several emails from Ford offering discounts on the extended warranty after I bought the Fusion. At 10,000 miles I bought a 5 yr/100,000 mile warranty covering engine, transmission, A/C, and a few other basic things for $570.00. I drive over 20,000 miles a year, and thought this was a good deal.
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Read very carefully what that extended warranty your buying is actually giving you. You may be surprised, most do not cover near as much as people assume they do and many are just a way to weasel an extra buck out of you.
For example, some extended powertrain warranties will only cover the mechanical parts (which rarely fail due to defect or workmanship). So if that IAC, MAF or TPS goes belly up your on your own for replacement costs.
If you are religious about maintaining your vehicle and treat it with respect you more than likely will not need an exteded warranty since any repairs likely to occur within the timeframe the warranty covers would be less than $1000 to repair on your own.
I look at extended warranties like gambling at a casino. The odds are by far in favor of the extended warranty company or they wouldn't be or stay in business.
For example, some extended powertrain warranties will only cover the mechanical parts (which rarely fail due to defect or workmanship). So if that IAC, MAF or TPS goes belly up your on your own for replacement costs.
If you are religious about maintaining your vehicle and treat it with respect you more than likely will not need an exteded warranty since any repairs likely to occur within the timeframe the warranty covers would be less than $1000 to repair on your own.
I look at extended warranties like gambling at a casino. The odds are by far in favor of the extended warranty company or they wouldn't be or stay in business.
Good Casion analogy Led. Warranties are just like any other type of insurance. The seller is expecting to collect more in premiums than they expect to pay out in repairs. It's simple math. Mathematically speaking, you are less likely to need it. But if it makes you sleep better at night knowing you have one, and don't mind spending the money- go for it.
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Exaclty what I was trying to say ming. Just wanted for people to realize that they are not all they are cracked up to be and peopl would be better off throwing the money spent on that warranty into a 5 year CD or something like it that will actually earn them some money.
On a pro-extended warranty side. My local telco credit union has the perfect extended warranty. Their deal is that if you buy a 5 year 100k mile warranty from them and keep the car full term at the end of your finance term or the warranty elapses they will refund 100% of the original purchase amount.
I assume that they feel they can make enough money from the interest they gain by offering the warranty that if you don't need the warranty they can afford to reimburse you the entire warranty cost. In short, it is definitely something for anyone to check out with their local credit union or banking institution.
On a pro-extended warranty side. My local telco credit union has the perfect extended warranty. Their deal is that if you buy a 5 year 100k mile warranty from them and keep the car full term at the end of your finance term or the warranty elapses they will refund 100% of the original purchase amount.
I assume that they feel they can make enough money from the interest they gain by offering the warranty that if you don't need the warranty they can afford to reimburse you the entire warranty cost. In short, it is definitely something for anyone to check out with their local credit union or banking institution.
Ya, +1 for that deal. For the rest of us I agree with the what others have said - put a few bucks away each month (CD, stock/bond fund) and don't touch it unless ya need it. Now, that being said, I, my family members and all my friends who drive Fords (during the past 10 yrs) have had Honda like reliability out of 'em.
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I got the 5/75 premium as well for 1125. My wifes cousin sold us the car so I think we got a good deal on it. We were told it does sell for $2000 msrp. It has a $100 deductable and we were told that if we don't use it we can contact them at the end of the warrenty within 30 days to get our $1125 back. Of course we will have still payed interest on that $1125 but at least we get something back.
Does anyone know if there is a road hazard warrenty on the tires?
Does anyone know if there is a road hazard warrenty on the tires?
[quote author=brainfreeze link=topic=51368.msg830728#msg830728 date=1153245062]
I got the 5/75 premium as well for 1125. My wifes cousin sold us the car so I think we got a good deal on it. We were told it does sell for $2000 msrp. It has a $100 deductable and we were told that if we don't use it we can contact them at the end of the warrenty within 30 days to get our $1125 back. Of course we will have still payed interest on that $1125 but at least we get something back.
Does anyone know if there is a road hazard warrenty on the tires?
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That seems pretty decent for the 'premium'. $2000 retail :shock: :shock:
That is very very high. If I can't get the warranty for <$1200, I will not be buying a fusion more than likely. But we will see what the cards hold.
As far as road hazard, if you are replacing yourtires down the line and order them from tirerack, they have a roadhazard plan.
I got the 5/75 premium as well for 1125. My wifes cousin sold us the car so I think we got a good deal on it. We were told it does sell for $2000 msrp. It has a $100 deductable and we were told that if we don't use it we can contact them at the end of the warrenty within 30 days to get our $1125 back. Of course we will have still payed interest on that $1125 but at least we get something back.
Does anyone know if there is a road hazard warrenty on the tires?
[/quote]
That seems pretty decent for the 'premium'. $2000 retail :shock: :shock:
That is very very high. If I can't get the warranty for <$1200, I will not be buying a fusion more than likely. But we will see what the cards hold.
As far as road hazard, if you are replacing yourtires down the line and order them from tirerack, they have a roadhazard plan.
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Dealer here in Connecticut offered me the Ford ESP Premium Care 6/60 for $875.00, not to bad compared to some other quotes I've heard.
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