EXTENDED CAR WARRANTY

[williamlayton]

I have a 2010 Ford Mustang GT Convertable. It has 30,000 miles on it.
I can get an extended full car warranty for $2,500 to 100,000 miles--transferrable, from Ford.
What is youse guys take on these warranties?
Blessings

[Conan The Librarian]

Here's the way we've decided it:
1) If I thought the car was going to have big problems before 100k I would not have bought it in the first place.
2) $2500 will buy an awful lot of repairs
3) This is a huge money maker for the car companies because they seldom get any claims
 
In other words, no.

[guzzijohn]

I would also not recommend it. However if you still want to consider it you may be able to talk them down to $1,500 or so. Still, I wouldn't do it. Today about any model and brand of vehicle will make 100K without serious repairs. My two cents worth. Nice car by the way.
GuzziJohn

[Conan The Librarian]

I should also praise the car. We rented a Mustang convertible a few years ago, not as nice as the GT, but it was very very nice. Took a good road trip with it out west, and really liked it a lot. A very nice design.

[Ranger99]

if it is a genuine ford motor co.
factory warranty and you are going
to keep the the car forever i would
get it .
the aftermarket warranty companies
are much like collision insurance. they
will install used wrecking yard parts
or cheapie-china stuff at their discretion.
or they may deny a claim outright.
at least ford esp will like as not repair
your vehicle the right way with oem goods.

[oldandslow]

I never purchased but one extended auto warranty and it made a believer out of me. I got one battery from the warranty and drove the car well over 100,000 miles. I could have purchased 21 top of the line batteries for what the warranty cost. Expensive for me but profitable for the warranty company. That's what they count on.

[Ranger99]

well. . . .it is a personal choice.
you can not get one and maybe go
200,000 miles with nary a problem.
or you can put 20,000 miles on it and get
a 2700.00 bill for transmission replacement.
it's a crap shoot. i've seen a lot of faces
when they went to the cashier to pay
that 2700.00 repair bill. a lot of folks also
don't realize the day of the 49.95 alternator
and the 235/75/15   $70.00  tire are long gone.
properly maintaining and repairing a vehicle
cost mucho bucks in the 21st century.           

[PowPow]

My company offers extended warranties on equpment we manufacture for large buildings.
Our pricing, and our competitor's, is the amortized average of the expected repairs across the product line, plus a reasonable profit.
The price of the warranty is a reflection of the company's experience with their product's reliabilty.
Some competitors have cheaper price for their equipment, but when asked for extended warranty pricing, the pricing evens out.

End users look at the extended warranty as a way to mitigate risk and levelize out cash flow.

If I already owned the car and were on a fixed income, I would consider the warranty a way to mitigate risk down the road.
If I were purchasing a new car, I would consider the cost of extended warranties as I would consider the cost of the car itself.
But since you are a Pony car man, comparison of other models is out of the question, right?

[kennyd]

We boght the extended warranty on wife's Kia.  Goes to 100,000 and covers EVERYTHING.  The down side is all the oil changes, transmission fluid changes and all have to be documented to keep it alive.  The easiest, but not most frugal way to do this is have everythin g done at the dealer.  You can save receipts for DIY, or from other shops, but it is easier to just take it in.  We do like the dealer which helps.

[pastorp]

My opinion is if your car has already gone 30,000 miles and you do the maintance on it especially oil & filter changes you are probably not going to have any major problems with the vehicle.

The warnity co is betting you that you won't. If you buy the warnity your betting them you will.

JMO.

[LONGTOM]

Well let's put it this way.
A trans costs anywhere from $2000.00 to $4000.00 installed.
A motor can run well over $6000.00 installed.
AC can get into the $1000.00 and up if the compressor goes.
You buy health insurance in case you need it and hope you never do.
You buy life insurance just in case you die in an accident but probably won't.
It is cheap insurance for your car if you plan on keeping it a long time or put a lot of miles on it a year.
Some of the new tail lights cost over $800.00 now so you decide.
If I can afford it I would but it if it was me.
 
 
LONGTOM

[336SC]

I have a 2003 Chevy Malibu and I purchased the extended warranty.  What a total rip off.  Every time something went wrong it was out of
my pocket because they said whatever went wrong was a consumable, what ever that means.  I had over $2500.00 out of pocket costs
and they didn't cover a dime of it.  Last time that it was in the shop and I had to pay everything, I was so PO'd I wanted to fist fight every
body there in the service department.  So with the $1000.00 extended warranty and $2500.00 in repairs, I'm out $3500.00.
336SC

[joeinwv]

Read the warranty closely.

Go in and talk to the finance manager - they can negotiate the price of the warranty. You can certainly get this down to $1750 or less.

We bought a Subaru Forester - and I got the warranty. The only weakness in this platform, is the head gasket - which in the boxer motor is very labor intensive and expensive to repair. This also covers CV joints and exhaust parts - important on a car with at least 6 cat cons.

[Empty Quiver]

Check the coverage, of course, but pay special attention to electrical type stuff. Crazy things like seat warmers, power mirror motors, door latch and lock mechanisms. I would not worry a bit over drive train components myself. $2500 can add up quite fast on things like a dash coming out to replace an evaporater core, a fuel pump, or even a stone ruining an A/C condenser. 
 
If that Mustang is loaded with plenty of optional equipment, I would certainly consider it. If it is transferable it might very well sweaten the deal if you trade early (you may well eat it too). I'm not familiar with the newest generation of Mustangs, but my past and current experiences convince me that while fun to drive they are a bit cheaply designed and constructed.
 
 For me 100k ain't many miles though. Roughly 5 years of driving, and I'm pretty easy on my gear. I would either pass on the coverage, or sell the car had it already proven problematic. 100k around town is far different than in a rural setting though. If you find that you traditionally have car repairs, I'm betting you will continue that trend, if however you rarely have trouble that too should continue. I am an optimist as far as cars go, I very rarely have troubles.

[Larry L]

Not sure how much of a Ford guy you are but that Mustang comes with a 315hp 4.6 and is not the usual 4.6 like you'd find in a Crown Vic or an F150. The oil delivery system is different for starters. It comes with cam phasers that can be a headache. It's extremely important to note that Ford will not warranty any repairs on the engine should you drive it in with a Fram oil filter on it. Frams are noted for putting filter media into the oil system which messes up the VCT and cam phaser failures are the result. Factory oil specs recommends a 5w-20 oil but don't be afraid to run a 5w-30 Energy Conserving oil in it either. Actual Kinematic viscosity is real close between the two but the 5w-30 makes the VCT more responsive. Ford is recommending up to a 15-50 for these engines now in dealership memos. Otherwise, the engine is rock solid and you should have several hundred thousand miles of fun with it. Ford has not had any issues with the transmissions in that YM. They have occasionally had issues with the rear end in cars owned by those that think they have to use all 315hp at every stop light. Because these issues are relatively easy fixes and I doubt you're going to drive the wheels off it, I wouldn't waste the bucks on an extended warranty for this particular model car. Do the recommended maintenance schedule on it and enjoy the ride. Just make sure to use a lot of tooth paste in the AM. Yer gonna have a smile on yer face as big as Texas when driving it!

[Victor3]

 Statistically (and generally) speaking, folks pay more for the extended warranty than they do on repairs. I'd go to a Mustang forum and ask the question on your specific model.

[bobg]

     A friend of mine worked for the local Ford dealer. He said the extended warranty was the biggest rip off he has ever seen. Only one that made money was the warrenty co.

[yellowtail3]

I think Ford just kicked it out of the park with the 2005/later Mustang, and it only got better with the 2011 intro of the Coyote & 3.7 V6. One of these days, I'm gonna get my 4th Mustang. Right now, I'm shopping for a low-mileage Vibe or Matrix with a 5-speed.
 
I'm generally against extended warranties, but I dunno... doing my own wrenching isn't as much fun when I can afford not to...
 
 
 

[Savage .250]

I keep trucks for a long spell and never went that route.  Never thought I made a mistake by doing that either.   

[SHOOTALL]

I have a 2010 Ford Mustang GT Convertable. It has 30,000 miles on it.
I can get an extended full car warranty for $2,500 to 100,000 miles--transferrable, from Ford.
What is youse guys take on these warranties?
Blessings

Well they would not offer the warranty if they did not know how many would fail. Most companies that produce mechanical things know what the failure rate is. AC suppliers can tell us how mant compressor failures to expect and they are almost always correct. Knowing this allows them to offer extended warranties and make a proffit.
So do ya feel lucky ? do you drive consertive or a bit hard on the equipment ? Have you experinced a problem yet ?
A average tramsmiission cost about 3 thousand to replace , engine 35 hundred and rear about 15 hundred so how much will you pay over the life of the warranty ? Is there a deductable you will need to pay ? I seldom buy extended warranties myself.

[quickdtoo]

I've usually bought extended warranties on new vehicles and ended up cashing them out unused before they expired and got all my money back because I traded the rigs in with less than 50k on them, but not this time. Bought a new 2006 Rav4 in 2006, 7yr/100k factory warrranty was $1900, I've used it three times so far and using again tomorrow to have a steering intermediate shaft replaced, my total cost of work done will exceed $2500 if I had to pay for it, so this time it was worth it.

My wife's 2006 VW Beetle has cost us almost as much in repairs and normal periodic maintenance charges, no extended warranty on it, wish I bought one for it.    My Toyota dealer maintenance costs are $45($55 for synthetic oil) for oil/ filter change, fluid and brake pad inspection and tire rotation, the same service at the VW dealer is $175!  Someone stole the passenger side headlight while the wife was at the fitness center, that was another $800(not included in the total repairs) since the thief broke a part when he ripped it out.

Tim