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Car Forum / Ford / Ford Cars / November 2006Ford extented warranty question
I just bought a 2006 Escape with 11k miles. We just use it around town, about 6k miles per year. Is the extended warranty worth it at around $2445 for a 7 year 100 mile warranty. We do plan keeping the car for many years. Thanks, Mike The Ford Extended Service Plan is good for 100,000 miles or 5 Years. Whichever comes first. CyberWolf >I just bought a 2006 Escape with 11k miles. We just use it around town, >about 6k miles per year. Is the extended warranty worth it at around $2445 >for a 7 year 100 mile warranty. We do plan keeping the car for many years. > > Thanks, > Mike > The Ford Extended Service Plan is good for 100,000 miles or 5 Years. > Whichever comes first. > > CyberWolf There are a number of different plans. The one I bought was 6-75,000. Since I only average 12,000 miles per year, my years will probably be up before the miles. BTW, mine was $1165 on a 2 year old Escape. SC Tom > I just bought a 2006 Escape with 11k miles. We just use it around town, > about 6k miles per year. Is the extended warranty worth it at around $2445 > for a 7 year 100 mile warranty. We do plan keeping the car for many years. > > Thanks, > Mike Well, just do the math, you're only looking at adding about another 42,000 miles in seven years then you'll be well under the mileage cap, maxing out your warranty period in years. Often people hit the mileage cap first, shortening their warranty. Not in your case if your mileage estimates are correct. >I just bought a 2006 Escape with 11k miles. We just use it around town, >about 6k miles per year. Is the extended warranty worth it at around $2445 >for a 7 year 100 mile warranty. We do plan keeping the car for many years. > > Thanks, > Mike The warranty is worth it for Ford. But not for you. Another name for the warranty is insurance. If you truck gets wrecked, the insurance is lost. If there is a problem that is covered by a recall, you don't save anything with the warranty. You're far better off to put the money in a bank account. At the end of 7 years, chances are you'll have all the money plus interest. The other thing to remember is that the people at the dealership are not selling the warranty as a public service. They make money off of the warranty. So they might make $1200 off of the warranty and the Ford gets the other $1200. So, out of the $2445 for the warranty, the average costumer will get $800 worth of service. And that's at retail dealership rates, rather than the cheap local garage rates. Plus, Ford may fix only what absolutely has to be fixed and not necessarily do the job right. Save your money. Don't buy the insurance. Chances are that you will be far ahead at the time the insurance would have ran out. Remember, insurance is supposed to be for castrophic events. Repairing an engine for $800 when the insurance costs $2445 is not a bargain. Nor is insurance that is worthless if the truck is destroyed in a wreck. Save your money. Jeff |
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