scottdm
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Nice ride! You mentioned it's silver spruce, but it looks like ingot silver in the photos. Which color is it?
Need advice. CPO vs new. Platinum vs Limited
- Thread starter bill_b
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Nice ride! You mentioned it's silver spruce, but it looks like ingot silver in the photos. Which color is it?
Vicious
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So it looks like I'm in a similar position now. Found a good (I think at least) deal on a used '18 Platinum Max w. Towing package. 18k miles for 61K. I'm sure I could talk them down a little more. It seems like the best I've been able to talk most dealers off the 84k MSRP Platinum Max was about 11K, so we're looking at about 73-74K for new vs around 60K for used. Pretty good chunk really, esp with taxes, etc. If I do wait I'd probably hold out for a 2020, but it'll be about April before I can reasonably expect them to discount it.
Deadman
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If you buy that used one.... You are now investing $60K+ into something that you don't know the history of. If I'm taking a risk on a used vehicle, the savings need to be a ton more than that. If I was only investing $25K, then I wouldn't be so worried, but when I'm laying down over $60K it wasn't worth the possibility that the pervious owner did something stupid to it......could be anything.
My neighbor changed the oil on his expedition when it had 10,000 miles on it and he didn't get the oil filter on right and it puked all the oil out when his wife took it back and forth to work the next week. The low oil light came on and it needed over a gallon of oil to bring it to the full mark....... That stuff just weighs on my mind...
My neighbor changed the oil on his expedition when it had 10,000 miles on it and he didn't get the oil filter on right and it puked all the oil out when his wife took it back and forth to work the next week. The low oil light came on and it needed over a gallon of oil to bring it to the full mark....... That stuff just weighs on my mind...
I agree with you for the most part... you could say the same about buying a used house, which is an even greater investment.
Currently we have a Sienna that we purchased new as well as a new home, so I'm on the good end as to knowing the history of things haha.
I'm just torn, as the money saved could be used towards other things for my family (5 boys.. it's a mad house), but then again I am with you on being the original owner of something. it definitely has value... it's just knowing when that value isnt worth the extra cost. The used vehicle does have warranty remaining, which helps at least.
Extended warranties are a profit center for dealers. Which means they're a losing proposition for buyers. I've avoided them like the plague. What's so stealthy about the Stealths? I can see them just fine. The OP didn't need the Tow Package for what he's towing. I tow close to 4000# with standard towing, no problems.
Two different times I have had extended warranties pay off. Once on a vacation and the transfer case went out on our 07 Edge 8 hours after leaving home for a week. Ford paid for the repair plus the rental for the week. Otherwise we would have been stuck in a town with nothing to do for a week and wondering how to pay for repairs.
In the process of buying a limited stealth right now. Just the name of a package with black out options. Kind of like Kawasaki’s ninjas. You can hear and see them just fine too.
In the process of buying a limited stealth right now. Just the name of a package with black out options. Kind of like Kawasaki’s ninjas. You can hear and see them just fine too.
aggiegrad05
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I had an extended warranty on the F150 I had before my Expi as well as my wife’s Pathfinder. Ford paid to put a whole new short block on my truck when two cylinders crapped the bed, and Nissan has replaced my wife’s transmission twice. Multiple weeks of rental cars in both cases. All on the manufacturer’s dime.
I am WAY ahead on extended warranties.
This is what is called "anecdotal evidence". As opposed to statistical analysis. People who sell extended warranties make a profit. Your premiums, on average, contribute to that profit. Go ahead, it's your money.
aggiegrad05
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It’s only anecdotal evidence if I’m using it to prove a larger point, i.e. “here’s what happened to me so that proves extended warranties are a good deal for the consumer.” When I wrapped up my comment by saying “I am way ahead,” that makes it evidence of a verifiable fact (the cost Ford/Nissan has paid out in repairs/rentals to me is greater than the amount I paid them for the warranties), and therefore no longer anecdotal.
Of COURSE warranties make money for the people offering them, that’s why they sell them. Same with insurance policies. But some people like the piece of mind that comes with buying one. And sometimes, they work out.
I offered my story, not as evidence that warranties always pay out, but as one instance where that was the case so that someone who may want to buy one for the piece of mind, doesn’t feel deterred from doing so by YOUR blanket statement that they are always a losing proposition. Because they’re not.
Of COURSE warranties make money for the people offering them, that’s why they sell them. Same with insurance policies. But some people like the piece of mind that comes with buying one. And sometimes, they work out.
I offered my story, not as evidence that warranties always pay out, but as one instance where that was the case so that someone who may want to buy one for the piece of mind, doesn’t feel deterred from doing so by YOUR blanket statement that they are always a losing proposition. Because they’re not.
No. It's an anecdote. In your case, it worked out for you. That's a single case, an anecdote. Here's a larger study, an evidence-based article, and why I don't buy them. On average, a customer pays about $1500, the average repair is $180. So, on average, buyers lose $1300 on the deal:
https://www.consumerreports.org/car-repair/get-an-extended-warranty-for-your-car/
https://www.consumerreports.org/car-repair/get-an-extended-warranty-for-your-car/
I financed a small part of my 2018 Max XLT. I only did it to take advantage of the $1250 discount Ford offered to do so. We put about $44K down, the maximum they would allow, and financed about $14K. Well, the discussion with the finance guy at Larry Miller in SLC was a nightmare. He gave me a very hard sell on all their extended care plans, warranties, etc. I lost count of the times I said "No". After I finally got through to him I wanted no part of any of it, he wanted to be friends. He was just doing his job, I'm sure. But it was painful, even insulting. Part of his salary depends on selling these very profitable plans, it wouldn't surprise me if Ford doesn't offer the discounts in part to sell them. If I had it to do over again, I'd be more aggressive. I'd tell him up front about my previous experience and tell him that if he tried to sell me this stuff this time I'd come across his desk.
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aggiegrad05
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That’s an anecdote!!!! Anecdote alert!!!
We don’t like those around here. Keep your opinions to yourself as they don’t help the rest of us.
Apparently.
aggiegrad05
Full Access Members
Yes. It is a small story I shared. But see, here’s the thing, just like your story about the finance manager, I was just sharing a story...not trying to prove a point with it. If I had said: “I have made money on my warranty and you should too”, then by all means disagree with me. But all I said was “I made money on my warranty.” By disagreeing with that, you’re just being disagreeable.
Okay, look. You didn't just tell a story. You impugned Ford quality and recommended the guy purchase Ford Protect. The statistics do not support your recommendation. If you had said that your extended plan worked out for you but you couldn't recommend it to others, no problem. You attempted to generalize your anecdotal experience to others, I provided the Consumer Reports article to enlighten the OP. Now go away.
aggiegrad05
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Haha, okie dokie friend...I wonder what other unspoken, secret messages you find in people’s posts.
scottdm
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I also decided to purchase the Ford extended warranty. $1500 is cheap piece of mind for me on an $80K vehicle. I hope to never use it, but know it's there if needed. Agree that insurance policies are a very similar concept. You hope to never use it, but are glad to have it if the day comes (term life insurance, umbrella liability, etc, etc).
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Oops. You're correct. It wasn't you, but cmiles97 who posted this:
Unless you have money set aside for potential repairs as vehicles in general are getting very expensive to fix and Ford isn't Toyota in quality, I would recommend a Ford Factory extended warranty. It's called Ford protect. Any dealer can sell one. I bought mine online via Flood Ford. In the 3rd generation forum someone had one turbo replaced at 120K miles or so and it was over $3,000 (I think).
My apologies.
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