Having some serious buyers remorse... Probably my last Ford...

[prissychrissy72]

55,000

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[rocks]

55,000

It sucks you are not in basic warranty.

 

[prissychrissy72]

It sucks you are not in basic warranty.

Yes it does. I wish we were offered the extended warranty… I don’t know how to make that happen now.

 

[rocks]

Yes it does. I wish we were offered the extended warranty… I don’t know how to make that happen now.

There are plenty of TV ads on extended warranties but they are monthly payments, expensive and warranties I wouldn't trust but that's me.

 

[prissychrissy72]

I need a lawyer more than an extended warranty

 

[Bucko]

There are plenty of TV ads on extended warranties but they are monthly payments, expensive and warranties I wouldn't trust but that's me.

The problem with these are that your coverage amount is very low until you build up equity with your monthly payments. Its to prevent someone who need a new engine to buy into one of these extended warranties and a week later, request coverage on that engine.

 

[rocks]

The problem with these are that your coverage amount is very low until you build up equity with your monthly payments. Its to prevent someone who need a new engine to buy into one of these extended warranties and a week later, request coverage on that engine.

Not a fan of Mickey Mouse warranties. I only would go with auto manufacturers' extended warranties.

 

[sajohnson]

All insurance is 'betting against the house.'

There is one good reason to buy insurance -- for coverage against loss that the individual cannot afford. That's typically: life; health; auto; home/renter's; and maybe disability. Of course auto is mandated, and homeowner's is required if there is a mortgage.

For everything else, it's best to be self-insured.

That said, some people like the piece of mind that comes from knowing that their repair costs are capped at the cost of an (overpriced) extended warranty, plus deductibles. That's understandable. Just be aware that, overall, people are better off financially saving the money they would have spend on the extended coverage and paying for repairs out of pocket.

Only a tiny fraction of extended warranty buyers are "winners" (get back more than they paid) -- but they are generally happy to tell anyone who will listen so it seems more common than it is.

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