I'm going in this evening to purchase my 2013 F-350 off it's lease. They will ask me about purchasing an extended warranty - I already have the ESP on the truck which was worth it considering the cost of an oil change, filters, fluids etc.
I have 2 months left on my bumper-2-bumper and 2 more years after that on my powertrain... note, I only use my truck really to tow my travel trailer in the summer and maybe once or twice a week for short trips around my town.
So, does the 6.7 really need an extended warranty? Should I just wait until my powertrain warranty gets close to expiry and then decide?
They're always 'piece of mind' but lets be honest, Ford wouldn't sell EWP's if they weren't going to make money off it. And would I be better just putting a little money aside every month for future 'maintenance'?
As always, opinions are always appreciated. :grin:
My truck 2011 i bought used. had a new engine under factory warranty. EGR cooler under factory warranty. I don't have an extended warranty and the only thing it would of covered so far as i just ran out would of been the front axle u-joint an 800 dollar job from a local shop ford wanted 1250 for it. That is about 1/2 of the coverage cost for 125k for the best coverage on a used one. I say its up to you. I hope you are getting a good deal on the lease buy, those mostly get you screwed over especially if it's on its second lease.
It is all about peace of mind as stated. I rather pay $82 a month for a couple years on a ESP then worry about coming up with $2,000 for a radiator replacement etc.
Hope you never have to find out about that radiator. Close friend just traded his 13 in with 42000 miles with premium ESP and they would not cover his radiator for a small pin hole leak. I know every dealer is different but you never know.
We purchased a 2011 @85k miles with the ESP. If you spend any time on these blogs the peace of mind is worth it. Now I can worry about other things, not our F350.
With the complexity and cost associated with repairing modern day diesels, especially with a jam packed engine compartment, I'd say splurging on an extended warranty isn't a bad idea.
Kind of off topic, but did you get a good deal on the original lease, or did you lease it for business/tax reasons? My wife and I like getting new cars every 3 years or so and leasing her Mustang made sense (to us at least) but leasing my F-250 looked like it was going to cost a more to lease than just buy it outright. So I bought the F-250 and plan on driving it as long as the 125K mile warranty lasts.
I always so no to any kind of extended warranty. It's guaranteed money in your pocket, as opposed to gambling that you'll come out ahead with an extended warranty.
Although it's strange to me that someone is okay paying $80 / month for 2 years to avoid a potential $2K expense. $80 * 24 months is almost $2K, so it's basically the same expense. No right or wrong though - just about balancing your risk tolerance.
Although it's strange to me that someone is okay paying $80 / month for 2 years to avoid a potential $2K expense. $80 * 24 months is almost $2K, so it's basically the same expense. No right or wrong though - just about balancing your risk tolerance.
When you are paying $1,000 a month for a truck, I rather not have a surprise expense pop up that is going to require me to pull thousands out of my savings account.
Yes my ESP cost me $2,200 but I also get free rentals when I drop the truck off at a cost of $60 per day.
My 2007 had almost $6,000 covered by my ESP. My 2011 Explorer has had almost $1,000 covered from my $1,700 ESP. My Explorer is currently at the dealer today and it was nice getting into a 2016 Ford Expedition Limited to drive while it is being worked on.
And yes, I'm gambling and coughing up the $2,000 up front but if a radiator goes, I break even and then I'm ahead of the game on ANY other repair.
My truck was in for a door sensor/latch that was triggering my alarm because it randomly thought the door was open. I enjoy a 2016 Ford mustang convertible for a rental when I dropped it off. Yes it is a perk and not a requirement but when you have kids and a job, I can't be without a vehicle so if I didn't have an ESP, I'd have to pay for a rental.
With my 07, my ball joints were replaced 3 times, twice my hubs were replaced due to vacuum leaks and not going into 4x4, and I had many other things replaced inside (HVAC system, 4x4 switch due to dead light..
It's a gamble, absolutely but it is much more comforting knowing that if something pops up, I have nothing to pay out of pocket for 8 years...
And if I don't break even, oh well, I'm still comfortable knowing that I don't have to worry. It is a small % of a $62,000 purchase.
The price is right. BMW wants to charge me more money for an extended warranty on my $13,000 motorcycle than Ford ESP does for the same coverage on my $60,000 truck!
I have an extended warranty of 150,000 miles on my 2013 F250 6.7 & it didn't cover the radiator or EGT sensor. So i went ahead & did the deletes too my truck. Deletes is the way too go !!
piece of mine? sure for awhile but i choose to invest the amount of money and as long as the truck stay good or doesn't break till later on i can come out WAY ahead.
simple break down.
$2,200 average ESP price.
$2,200 8 years later with avg 9% growth is $4,383 then if i add in dividends lets say we invested in Ford instead of buying an esp. 8 years later . say 165 shares at 13.33 a share and you reinvest all of your dividends. Ford pays out quarterly so on average about $379 a year plus growth over the 8 years comes to about $3305 given its history and its great forward out look i could see this doubling over that time. It would beat inflation quite a bit. so if we add both the ROI plus dividends your $2200 at the end of 8 years given you cashed it in would be $7688. Now just imagine you add say 100 bucks to that account a month. Yep ill take that gamble on the factory warranty to buffer my first 3 years and come out WAY WAY ahead few years later.
This is the same gamble ford makes and why they make so much money off of customers. they bank that money just as i do
I have a 2011 F250 6.7L and bought the 100K warranty for piece of mind. I'm a diehard Ford guy but knew with a complete new truck/engine I wanted piece of mind. Well at 75K on my truck I'm glad I did and I think the cost of the warranty paid for itself many times over. At 24k 1st water pump was replaced again around 42K 2nd water pump replaced. 66K new long block engine after glow plug tip came off and bounces around in cylinder and damaged engine, that bill was around $13K to Ford. Now on the engine I was told the normal 5yr/100K power train would of covered it but had it not I was covered. Then recently around 74K took back for AC not working which was schrader valve and then a piece behind dash so dash had to be removed. Also rear sliding window switch. Then at 75K EGR went bad through an engine code and that was done. So I would say my extended warranty paid for itself. It runs out this fall and the new engine warranty will expire August 2017 so I think the truck will be going bye bye either this fall or by summer next year. This will be my last diesel I don't need a diesel for what I use a truck for and at this point will probably be going back to a 1/2 ton V8. Am I disappointed in the truck not really but it sucks that all this happened with it but at least it was all covered by warranty.
I'm still a Ford guy and really like the looks of the new 2017 F150 Raptor but not sure I want to be a test dummy for a first year 10 speed automatic and the next gen ecoboost. LOL
Everyone has their own reason when it comes to warranties but mine was because the whole truck was brand new and mainly the engine.
Platinum ESP on my 2010 has already paid for itself. Bought it for my 2015. I choose not to worry about the money spent on ESP's considering I spend significantly more on auto insurance and I don't have any claims. ESP then becomes chump change.
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