Warranty question

[sauernote]

My 2002 will be 7 years old on May 4th, and at that time, the extended warranty will expire. I have 55K miles on the car. I paid $1375 for the 7 year/75000 premium care and only used it once for a $500 transmission repair (minus $50 deductible). No other repairs.
I got a quote from fordwarrantys.com for a 4 year/48K premium care ($100 ded.) of $1980, minus a discount of $185. They also require an inspection from a dealer before issuing the policy (not sure what that would cost). Here's my quandary:
I'd like to keep the car for another 4 years--it's been essentially trouble free (knock on wood), BUT it's a lot of money for something that might never be used, plus who knows if Ford will still be in business and honor warranties in the future. Am I living on borrowed time, waiting for a COPs problem or worse? It's a crap-shoot, I know, but I'd like some opinions please.
Thanks,
Ralph

[austx]

Re: Warranty question

Ralph, I bought my '05 this past April - In January I had a $1k wheel bearing repair job (43K miles) - really glad I bought the ESP. Yes, it does cost a lot of money, and maybe you will never need it. IMO, it's a "peace of mind" consideration as much as a dollars invested issue. I say buy it, but shop price if you have time.

Tom

[Leroy]

Re: Warranty question

Ralph,
You might get a better deal on line. I think the inspection is $100.00. I would get it, Fords going to be around for a long time. Plus if you sell the car or it's totaled you'll get some of your money back unless you transfer the warranty to the new owner. Leroy

[04birdman]

Re: Warranty question

i bought extended warr. before never used them (my caddy,refer,comp)have not bought one in a long time....thought hard about the bird a couple of times....my cops are covered by ford ..but...if you care for your car how many major repairs do you expect....you can get alot repaired for 2grand...

[SixPac]

Re: Warranty question

We feel the same as 04birdman. Any COP problems (except that one time in Georgia) are covered by Ford. Instead of buying an extended warranty, we put $2k in a credit union account, drawing very little interest. We'll take our chances.

[sauernote]

Re: Warranty question

Thanks for the input. However, my car is a 2002 and not covered for COP problems. That is making me lean towards buying the extra 4 years of warranty.

[Ski]

Re: Warranty question

Thanks for the input. However, my car is a 2002 and not covered for COP problems. That is making me lean towards buying the extra 4 years of warranty.

That's why I invested in an extended warranty as well. Hopefully it won't be used but for the piece of mind it was worth it.

[sauernote]

Re: Warranty question

I just purchased a 4/48K policy from fordwarrantys.com for $1795. They said that Ford will waive the inspection fee because my current policy has not expired. This will take me to 103,000 miles, not that I'll put that many miles on in 4 years.
I think I feel better now??!!

[Leroy]

Re: Warranty question

sauernote, I think you did good, it's a good feeling to know you're covered. Anything that goes wrong with these cars is going to be BIG BUCKS and it's only going to get higher. Leroy