Has Your Extended Warranty Been Worth the Cost?

[2K2BIRD]

Our car just came home from a visit to the dealer for some needed repairs. It was taken there via a flat bed, because it wouldn't start one day recently when the weather was nice enough to give her a little exercise.

Turns out that after on 63K miles, the fuel pump was toast and needed to be replaced. (Hey, at least it went out with the car in the garage and not on a major trip somewhere.) While it was there, I had them check the rear suspension bushings that I knew were deteriorating. Bottom line, it needed upper & lower control arms and toe adjustment arms.

The total parts cost to Ford for the repairs was approximately $1435.00. These parts would have cost significantly more if I had been buying them at retail price. I do not know what the labor cost would have been for the repairs but I can assume that they would have been pretty significant. The repairs also resulted in a fresh 4 wheel alignment and a new fuel filter. I think the whole enchilada would probably have cost around $2500 if I had paid for it out of pocket. Our $100 deductible seems like chicken feed compared to the total bill.

I only had one small claim against our first ESP Warranty, so some would say it was not worth it. This time around it has been just the opposite with these repairs and the COP problem last year. With all things considered, at this point I am ahead of the game for the cost of both warranties and any problems from here one will be icing on the cake.

Once again, THANKS LOU for helping hook me up with this latest ESP!!! It really has been worth it.

So, what has been your experience? Take the poll and post the details.

[merlot4]

Re: Has Your Extended Warranty Been Worth the Cost?

I haven't had to use it, but feel it was money well spent. My car is a daily driver and within 4 years I believe that it is probable that it will need repair that will either equal the amount spent (thanks Lou!) or will save me money. I will also add that I believe ESP will be something that a potential buyer would find attractive should I need to sell the car. And last, of course, it does give me some peace of mind. For reference I should add that I purchased my bird in 2010, so it was already 6 years old.

[Gobird]

Re: Has Your Extended Warranty Been Worth the Cost?

Don't have one so can't vote on the poll. But for me it would have been throwing money down the drain. Only thing I've had to do so far is a thermostat that was around $300.00

[V8 Cat]

Re: Has Your Extended Warranty Been Worth the Cost?

I really don't look at either insurance or extended warranties as savings accounts. I don't value them that way. It doesn't bother me if I don't recoup the cost because I am paying for "peace of mind". I certainly don't buy many extended warranties say like on a television or any electronics. When they break you just throw them away and buy a new one. Now a car is another matter in certain situations like the Tbird. There have been what I consider a lot of problems and some pretty expensive ones with these cars. No I don't buy extended warranties on all my cars - just depends on the make, model and my experience with them in the past.The new Jaguar had such a good factory warranty (4 years 50,000 miles) and the they also threw in at no charge the certified used car extended warranty of another 2years) that I did not feel it was necessary. Plus my experience with the 99 Jag I owned which only cost me around $1000 in repairs over 12 years was an indication that I did not need to worry.The Lexus did not even need any repairs for the first 10 years of ownership thankfully because it did not have an extended warranty on it. So I will be a happy camper if I never collect anything on the Tbird extended warranty and consider it money well-spent.

[BIRD 42]

Re: Has Your Extended Warranty Been Worth the Cost?

We have had the car for 2 1/2 years, had 36,000 when we bought the bird and now 63,000 total of 84,000 on extended warranty. We have had a couple of items that needed replacement - heater diverter module and the lower radiator hose and then the heater hoses and the fan belt and the tension control. The only thing covered by the extended warranty was the tension item but it was $65.00 and have a $100 deductible. I have had the extended warranty in the past and along with the peace of mind, I usually had something that required a hefty repair that would have cost more than the extended warranty. I feel it depends upon how long a person is planning to keep the car. The longer the period the better the chance that you will have some repairs that will exceed the factory original Kind of a pay me now pay me later approach.

[HEYMON1]

Re: Has Your Extended Warranty Been Worth the Cost?

Haven't had to use it yet but for the piece of mind it's worth it. Thanks Lou...

Monty-heymon1

[Banar]

Re: Has Your Extended Warranty Been Worth the Cost?

I purchased the warranty for the same reasons as V8 CAT, this car just is a little too complex to wish it a quiet and uneventful life. My Bird was bought used with higher mileage and had the usual soft life of the these type of cars. My mechanical skills are fine, my electrical skills fair, my ability to diagnose decent, but when all is paid for- Peace of Mind is excellent.
The total cost of the policy was met/exceeded in two visits to the dealership inside of a few months after the purchase date. First the transmission "E" code-not a home fix, followed by; Cam Sensor/and Valve cover gasket leaks,struts/shocks and throw in a few small dealership perks.I am glad to have spent the money. A deductable was less expensive, and for the remainder of the policy will stay that way for anything else cropping up.
My father worked for Ford for 31 yrs and we are a Ford Family. Ford has provided and proven many things to us, I will remain loyal. A Ford is also simply put, A Man Made Creation-It can and or will break at some point for some reason-no matter how much you may love or care for it.
3rd Mate Banar

[keithwand]

Re: Has Your Extended Warranty Been Worth the Cost?

No Esp. on ours.

I don't get extra warranty on anything I buy beyond the mfrs. original warranty.

This is 1 reason we lease our second car. Its alway in warranty. I don't want the headache of 2 cars out of warranty (computers) and besides after 2-3 years I'm pretty bored with it and want a new model.

[EllisonCal]

Re: Has Your Extended Warranty Been Worth the Cost?

My extended warranty cost only $795 at the time I bought Annie, a one year old 2005 car. It was the electric Tilt and telescoping steering wheel that motivated me. I thought that thing would be costly to repair and then it also had the Thermostat dual A/C heating system which gave me fits on my 1991 Buick Park Avenue and my 2000 Taurus SEL.

Well the steering wheel system hasn't given me any problems but the AC went out in 2009 after my 10,900 mile road trip. It was cool enough to drive with the windows down so I didn't suffer. But I would have suffered if I had to replace the entire dash unit which wasn't even the main problem but it was the Ford code recommendation. The dealer then replaced the hot water coolant valve which sends hot water to the heater core. If it is stuck open, you'll never get Cold Air from your A/C system and that was the case. Total cost to me $100 plus the $795 I paid back in 2006. Still less, far less than what the warranty paid.

Cal

[Southern]

Re: Has Your Extended Warranty Been Worth the Cost?

I m satisfied with the extended warranty. After all, it is in effect for 4 years. That's longer, albeit without compete coverage, that Ford put on the car initially.
I especially think it is a good idea to get the warranty from the manufacturer.
I carry homeowners, health, and life insurance also.

[steelblue5505]

Re: Has Your Extended Warranty Been Worth the Cost?

I wish I could brag to you all about how fortunate I have been with our purchased new 05 and now has 49K miles on it, but I do not want to temp fate. One never knows when the fickle finger of fate will point your way.

All I will share with you is that the original 30K/36 months warranty wasn't used, nor have I used my purchased ESP.

Be very very quiet about this......I'm whispering this to you shhh shhh

[tbird05cel]

Re: Has Your Extended Warranty Been Worth the Cost?

I've had my '05 for less than a year and replaced 6 COPS and an ABS sensor with all being accomplished during 2 service visits. Total cost was $100 for the ABS sensor/COPS no charge so You bet it's been worth the cost!

PS This car is a daily driver for me and I have 55,000 miles on it.

[Ski]

Re: Has Your Extended Warranty Been Worth the Cost?

I hope I never have to use mine but do not regret the purchase a bit. I am not mechanically inclined at all so anything that needs done the dealer will do.

[Vintage Merlot]

Re: Has Your Extended Warranty Been Worth the Cost?

When Bonnie and I bought our New Orleans house in 1990 all of our new neighbors scoffed at getting insurance for flood or wind damage. They had all been through many hurricanes and never had a problem. They were proud to tell you that flood insurance was a waste of money. After all if you did not have a mortgage then there was no bank to tell you what to do.

So we did not buy flood insurance. After thinking it over for several years we decided to buy flood insurance. My three closest neighbors really gave me a rough time for throwing money down the drain.....They had never purchased insurance and were damn proud of it. "We will take care of any problem when it comes along and we are way ahead of the game"....etc...etc...

Well Katrina hit our neighborhood. It was hit for the first time in history....... with water, water, every where. House gutting water to the roof tops. Bonnie and I had over $350,000 in total destruction......... insurance got us mostly whole again. My three smug chest pounding neighbors had the same total destruction and had NO insurance to cover flood water damage. Every financial resource they had was depleted in order to rebuild.
To us, heath insurance, home insurance, liability insurance and Thunderbird insurance is all well worth it when you loose the gamble with a bolt of lightning.

Yes, our Bird extended warranty has been worth it.

Note: If you came to New Orleans for the TBN French Quarter Festival event we all had dinner and listened to Lou play the piano in the room pictured below. The entire first floor exterior walls of the house looked like the second picture.

[V8 Cat]

Re: Has Your Extended Warranty Been Worth the Cost?

Wow Roger what a story. I'm so glad you had the coverage. This is what insurance is for. You certainly don't want to go through something like this to get a return on your "investment". Just like I will still be happy if I never have to go to the Ford dealer for a repair to substantiate to others why I poured money into an extended warranty. "Peace of Mind" that's what you are paying for.