Will you buy the extended Ford lottery?

VapourTrails

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Will you buy the extended Ford lottery? On a new model year is it worth the extra money to extend warranty ?
 

Cyclone Cowboy

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I'd love to buy a couple of "Ford Lottery" tickets. What do I win?

Seriously, I know this was discussed somewhere else? I wait to buy the extended. I ***believe*** you have a specific amount of time and miles to purchase the extended, so I wait. You never know if you will keep the vehicle. The only issue is if the date, miles and cost they quote you when you purchase it will remain the same down the line. Might be good to get the extended terms in writing.
 

Timsvtgen1

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I'd love to buy a couple of "Ford Lottery" tickets. What do I win?

Seriously, I know this was discussed somewhere else? I wait to buy the extended. I ***believe*** you have a specific amount of time and miles to purchase the extended, so I wait. You never know if you will keep the vehicle. The only issue is if the date, miles and cost they quote you when you purchase it will remain the same down the line. Might be good to get the extended terms in writing.
You can buy the warranty way later. The further you go from new, the higher the price and lesser the coverage ( generally.) I think the best way to do it is to buy it from a dealer online after the sale within the first year. There are a few places like Lombard , Ziegler Ford who basically sell actual Ford ESP's at bottom of the barrel prices which can save you almost half from the dealer at the time of purchase.
 

Cyclone Cowboy

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I mentioned this on another site, but I strongly suggest getting the extended eventually (as Timsvtgen1) noted. Since this is a first year build, there will likely be some bugs.
 

Excape

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I have always "self-funded" my warranties, by saving/investing the money I would otherwise put into a warranty. It has served me well. My 2006 Escape made it to 265,000 miles before I sold it with no trips to mechanic other than wheel alignments. Most of my other vehicles have cost very little to maintain/repair.
Losing the lotto: I did have one expensive repair. I bought a new '99 Intrepid with the 2.7 (Google Chrysler 2.7 for details of the sludge issue). That engine failed at 67,000 mile at a cost to repair of $4,200. Sure that was a hit but I'm way ahead considering the number of new vehicles I've owned since buying my first new one in '84. I can certainly understand one wanting to have "peace of mind" by budgeting for a warranty rather than maintaining a rainy day fund. For me, the latter has worked better, for both home and auto repairs.
 

Cyclone Cowboy

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I have always "self-funded" my warranties, by saving/investing the money I would otherwise put into a warranty. It has served me well. My 2006 Escape made it to 265,000 miles before I sold it with no trips to mechanic other than wheel alignments. Most of my other vehicles have cost very little to maintain/repair.
Losing the lotto: I did have one expensive repair. I bought a new '99 Intrepid with the 2.7 (Google Chrysler 2.7 for details of the sludge issue). That engine failed at 67,000 mile at a cost to repair of $4,200. Sure that was a hit but I'm way ahead considering the number of new vehicles I've owned since buying my first new one in '84. I can certainly understand one wanting to have "peace of mind" by budgeting for a warranty rather than maintaining a rainy day fund. For me, the latter has worked better, for both home and auto repairs.

Good points, but this is a first generation build and there has never been a modern, first year vehicle that did not have some type of bug(s). For example, we still don't know how the modified Escape components will last or how the complicated electronics for off-road systems will actually handle off-roading. This is all new territory. I think if you are planning on getting a new vehicle before the warranty runs out, then you are fine. I've also found it much easier to resale a vehicle if there is an existing warranty.
 

travelgirl999

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Good points, but this is a first generation build and there has never been a modern, first year vehicle that did not have some type of bug(s). For example, we still don't know how the modified Escape components will last or how the complicated electronics for off-road systems will actually handle off-roading. This is all new territory. I think if you are planning on getting a new vehicle before the warranty runs out, then you are fine. I've also found it much easier to resale a vehicle if there is an existing warranty.
I'm definitely adding the extended warranty, especially since it's a new model. I always purchase the warranty. I'd rather have it and not need it. My husband has one of the 2006 Ford Focus (I told him not to get it!) with the transmission issues. Some things were covered and some were not, so in his case the extended warranty definitely saved us a lot of money!
 

Cyclone Cowboy

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Most warranties transfer and I'm sure this one does, but it will be nice to just confirm.

Even my ultra-reliable Xterra's gas tank pump started to go out with 70 miles to go on my extended warranty. I was in the middle of nowhere storm chasing and about 60 miles from the nearest dealer in OKC. I took the shortest route possible and ended up with 7 miles to spare. (They had to replace the entire tank so it would have been well over $1,200).
 
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