Do you really need an extended warranty?

[Lumos]

Hi,

I've been a Toyota owner for 30+ years and have NEVER needed an extended warranty. The only issues I've had with Toyotas are relatively minor after 10+ year of driving.

This is my first ever Ford, a 2018 Expedition. Bought new and is just over 2 years old. The 3 year coverage is almost up. I've noticed a lot of people buying extended warranties on this forum for the Ford Expedition. Is this really needed and do you get value out of it? Should I dump this car before the main warranty expires and go back to Toyota or do you think this will continue to be a reasonably reliable vehicle?

I have tried bringing it in for minor warranty issues that the Dealer said "normal or can't recreate behavior so there is no problem". (note: problems still occur) I've not had anything seriously wrong with it yet and have around 15k mile on the ODO.) I HATE bringing my vehicle in for repairs, even under warranty, because they usually don't fix the problem, do a crap-job, try to rip you off, or cause other problems.

Advice?

Thank you in advance.

 

[Going_Going_Gone]

A lot of Ford owners take their cars/trucks to a Lincoln dealership. You'll get the same treatment as a Lincoln owner less a free loaner.

Personally, the extended warranty on my Expedition is only the second one I've ever purchased on anything. The first was an extended engine warranty on my 6.0 Powerstroke, that was never needed. On vehicles like the Expedition, repairs can be extremely expensive. A power step replacement or a moonroof malfunction will probably amount to the money the warranty cost me. And, I'm already noticing issues with one of the power steps not folding up when a door is closed.

In retrospect, had I known how much this pandemic would affect the amount of driving, I would have bought one with the same # of years but with far less mileage. I still have nearly a year left on the factory warranty, and super low miles, so I'm thinking that I still have "options" available in terms of modifying, cancelling, or transferring it.

In my younger years I would have gambled understanding that I had the skills, tools, and time to do my own smaller repairs. However, I've reached the age where I've had to give up things I enjoyed doing: hand-washing, working on top of, or crawling under my vehicles so it's peace of mind knowing it's there if needed.

 

[5280tunage]

I second that response, but add in the following. Depending upon how long you want to own the vehicle, literally tells us if you should or shouldn't get a warranty. I flat out did, as I usually keep my vehicles past the factory warranties, and I know first hand how much things like panoramic moonroofs cost to fix.

But having had my vehicle for almost a year now and seeing what I see on this forum, I'm grateful I have the extended warranty. I'm still within the factory warranty and hope to keep this vehicle for a while but we'll see how things go. I look at the VCT issues so many are experiencing, with many folks having to get the service done 2 or 3 times. Having just had the VCT service done, I could totally see it reoccurring just outside of the factory warranty and costing me $2K+ just for that. As the previous response said, I used to do all of my own maintenance as well, but short of having a shop with $100K+ in tools, I really can't do much on these any more (let alone the time).

In the end, it's just a gamble, I feel honestly on my side that gambling on losing $1700 or whatever the warranty cost, is a heck of a lot better than losing $10K+ on repairs if I keep the vehicle long enough. Just be sure to shop around if you do, many of us have saved a lot of $$ buying through other dealers. I think one of the most recommended is Flood Ford correct?

 

[MHay]

Is there a certain period of time/miles you’re able to purchase an extended warranty after purchasing a new vehicle? When I purchased my Expedition (which Ford subsequently bought back) the finance guy at the dealership led me to believe I had to buy the extended warranty while I was there and that was my only opportunity. When I buy my next Expedition it would be nice knowing I have the option to shop around for extended warranty coverage.

 

[29twonine]

I'm in the same boat, I don't think I've bought an extended warranty in my life, but I'm going to have to make a decision in a few months. We've already had the tranny worked on, but powertrain and tranny are covered til 5/60k miles anyways. We're usually drive it til it dies, so may end up getting a warranty through Flood Ford before the factory runs out. Not entirely for sure though! It seems like the general consensus on here is to get the warranty and it may well be worth it for an extra $3-$4000 if you plan on keeping the vehicle for a while. Not sure if we'll do it or not. I also agree on the part about having the dealer do any work to start with, it seems like they always screw something up or "can't replicate."

 

[Expedition Dave]

These are complicated cars. The closest thing left to a lump of an engine is probably Toyota's 5.7 and that will be going way of the DoDo pretty shortly.

My 2020 has dual fuel systems to combat Direct Injection issues, and even though it is an XLT with 2 options, there's enough electronic gee-gaws to cause a normal mech fits, so it will almost always be Ford's baby to fix. Besides, it already has quite a few minor warranty issues in less that 12K. So...

FWIW I have owned SEVERAL extended warranties, and only once did I ever break even on one. Most, I returned/sold the car and got a portion of the warranty $$$ returned for non-use. It is insurance if something catastrophic goes wrong, it is peace of mind, and I expect I will buy one for mine if I keep it past the factory one.

I don't know if you sell your vehicle's privately, but:
1. They are usually transferable for a small fee
2. It gives the next buyer peace of mind you ain't selling them a lemon (b/c you would of fixed it under the warranty in the first place).

YMMV...

 

[mcb345]

Great point on the resale value! Never thought of that. IMO it’s a no brainer to buy it if you plan to keep past the factory or CPO warranty.

Negotiate a bit and you can get 10 years / 125k miles for just over $2k.

Get the lowest deductible if you want little things fixed more often. That’s what I did so I didn’t sit there saying to myself, “do I need to have them fix that annoying rattle?”.

 

[Plati]

Insurance companies aren't stupid. They know exactly how much to charge to guarantee a profitable return on the policy they will sell you. Guess who's losing money on the transaction? Of course , thats "on average" so maybe you will be the one to get lucky. If you like gambling, then go for it. Or ... if you like gambling then don't do it. Either way.

All box stores sell warranties on everything now. I bought a pencil at Staples the other day and was offered a warranty. It was a really nice pencil!

 

[29twonine]

Yeah, for a little over $2k for up to 125k miles is probably worth it I guess. I still have a few months to decide, but will be leaning toward getting it.

 

[mwl001]

Yeah, for a little over $2k for up to 125k miles is probably worth it I guess. I still have a few months to decide, but will be leaning toward getting it.

I think generally, you can always buy one as long as you are still under the factory warranty, and I think you can buy outside the warranty if you have the vehicle inspected by a dealership. However the longer you wait the more expensive the coverage gets. Also pricing changes (increases) in February each year.

 

[xrcsl]

I have a base 2019 XLT... zero options, not even a power liftgate.

I was thinking about buying an extended warranty but I'm currently only at just over 30k miles. The only things that really concern me are the engine/transmission, so I think I'm going to hang on until I get closer to 60k miles before deciding on a warranty. My track record with cars is that I rarely keep them for more than a couple of years, so realistically I won't own the Expedition anymore when the factory powertrain warranty expires.

 

[Deadman]

I've NEVER bought an extended warranty until this Expedition. Theres just soooo much electronic crap on it to fail. When that starts failing, I can't fix it myself, so I know it will be very expensive to fix.
Thats my only reasoning...

 

[mcb345]

Yeah, for a little over $2k for up to 125k miles is probably worth it I guess. I still have a few months to decide, but will be leaning toward getting it.

It will be worth it when you want your turbos replaced for rattling!

 

[Lumos]

Thank y'all for the great discussion!

After reading your advice, I'm still rather undecided. I tend to keep vehicles for 10-15 years so I'd like to keep this one around. Cars are an expense, not an investment, but you generally minimize your cost by driving it as long as possible...as long as it doesn't eat you in maintenance costs.

Most repairs I've needed in the past would have taken place after the extended warranty expires. I also find that with youtube videos, I can often do a repair myself for around $20 and an hour or two of my time that would cost $500 at a dealership. I had to laugh at how much they charge you to change out a cabin air filter! Takes 2 minutes but they seem to charge an hour of labor!

Is there a website to use to evaluate/negotiate an extended warranty or do you need to speak to a person? They have bumper to bumper warranties for up to 10 years? The terms I've read about extended warranties is that they don't seem to cover anything that might actually break.

Thank you!

 

[lobsenza]

You can only buy an OEM extended warranty before the base warranty expires (3 years/36,000 miles for Ford, 4 years/50,000 miles for Lincoln). You cna buy them later with a dealership inspection for a much higher price.

 

[Kanderson]

I have had an extended warranty on my last two Expeditions, mostly for the electronics. My brother is a car salesman and recommended and when my back up camera needed to be replaced on my 2015 I was certainly glad that I had done it.

 

[EWOregon]

It's an insurance policy. I paid for the extended warranty simply for peace of mind. I paid for earthquake insurance on my house in Oregon...same reason, peace of mind. You may or may not get your money back in service...but if you need it...you'll be pleased you had it. If you are a mechanic...it's not worth it. I'm not a mechanic.

 

[AAOO]

I've already used half of the cost of my extended warranty in the rental vehicle alone. I say get it and take the worry out of ownership. These things have so many bells and whistles (especially the platinum) that something is eventually going to break and it will be expensive to fix.

 

[Ronb1]

Yes, I think its absolutely necessary. I have a ‘19 Limited and it’s been nothing but trouble. 17 service hits on the CARFAX report. Just one example is I’m on the 3rd rear view camera at 21 months of driving. Funny how you’re switching from Toyota because that’s where I’m headed! It was my first Ford, and definitely my last!
Good luck


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[Kevin-Michigan]

Our Finance guy at the dealership also made it sound like we had to buy right then. His prices were ridiculously high and he lied about the plan length to my wife and I.
I did a little research and settled on an 8year/100k miles $0 deductible Premiumcare ESP extended warranty from Zeigler Ford. We added the Key Services and Interior/Exterior lighting also. Total $2,080.
With the complexity of cars nowadays I felt I needed it and it's my first one ever. These Ford factory warranties do not start after your 3yr/36k mile factory warranty. For my new Expy Limited MAX, the 8yr plan starts on the day of purchase.