6 year 100k bumper2bumper

[Deleted member 12951]

No matter what price you paid, extended warranties are only good for the people who sell them.

Warranty companies typically only payout half of what they bring in. The rest covers sales, marketing, administration, and profit. At least 2/3 of people would be better off not buying the warranty because they won't use it at all or the benefit doesn't recoup the initial cost.

I save a ton of money by skipping every extended warranty and then just paying out of pocket in the rare instance I have a failure that would have been covered. But more times than not, the failure either occurs during the standard factory warranty, or long after an extended warranty would have expired.

You are absolutely correct. I never buy these insurance warranties, ever. I've always known them as a big ripoff and they are designed to pad the profit, hence why everyone now seems to sell them. BUT, this is a raptor. I beat the shit out of mine when I off-road and drive daily in an aggressive manner because this truck is so fun to drive. This to me is the ONLY vehicle I would buy or recommend someone buy a warranty for. I have already used mine and I plan on using it more. Now if your raptor is going to be a street queen and you can afford that occasional issue, then DO NOT buy a warranty in my opinion. If you do buy a warranty, buy it with the highest deductible you feel comfortable with. I choose the highest at $200 because $200 isn't that big of a deal to me. In my example the difference between a $100 and $0 deductible is $455. To take the $100 ded one to $200 changes the warranty to be $160 less.

The Ford PremierCare ESP with added every option for a Raptor that off-roads is not a bad choice. For the OP, the 6yr/100k PremierCare is only $1290 without all the options. You replace one steering rack or moonroof, its paid for itself.

 

[Msb.19d]

I've read thru it completely tonite really good. It covers everything bumper to bumper meaning all mechanical and electrical etc.. the things I doubt it will cover will be like glove box breaking or dash cracking, but everything like starter, computer brain, motor tranny etc is fully covered and all ford service departments recognize it. I hope I never use it but just in case something happens at 61k miles I'm covered now I guess all way to 100k. Anything up that happens up to 60k I will just use the normal factory warranty. I pray I don't have any big issues for along time. And hope ya don't either guys

---------- Post added at 05:56 AM ---------- Previous post was at 05:53 AM ----------

My truck had 9 miles on it today when I bought it. Alittle high I thought but oh well. I parked it tonite with 129, I really enjoy it so far. It's more powerful than I imagined but I have not even got into it yet. I want to break it in right and slowly

 

[Msb.19d]

I think I will keep my extended warranty, just in case something major breaks I will be able to get it fixed with just paying a 100 dollar deductible up to 100k miles, only cost me 1400 bucks, I probably want ever need it but will feel good knowing I got it

---------- Post added at 07:15 AM ---------- Previous post was at 07:14 AM ----------

Especially since I didn't have to pay any dealer markup at all. I'm ok with what I got for the money I paid

 

[Rock7256]

No matter what price you paid, extended warranties are only good for the people who sell them.

Warranty companies typically only payout half of what they bring in. The rest covers sales, marketing, administration, and profit. At least 2/3 of people would be better off not buying the warranty because they won't use it at all or the benefit doesn't recoup the initial cost.

I save a ton of money by skipping every extended warranty and then just paying out of pocket in the rare instance I have a failure that would have been covered. But more times than not, the failure either occurs during the standard factory warranty, or long after an extended warranty would have expired.

I strongly disagree with this, but to each his own. You have a motor or trans go after your factory powertrain runs out and you are looking big money especially for a motor. Of course it might seem like a waste if you buy one and dont use it but I see plenty of people putting their warranty to good use. Escpecially on high end cars BMW Mercedes etc

 

[Turk10mm]

If you have Geico, there's always MBI. Its $70 a year with a $250 deductible. you can use it for 7 years or 100k miles.

https://www.geico.com/claims/claimsprocess/understanding-mechanical-breakdown-claims/

Mechanical Breakdown Insurance VS. Extended Warranty: It's No Contest
Why not just get an extended warranty, you wonder? You could—if you want to pay more for less protection. GEICO's MBI provides better coverage at a cheaper price than the typical dealer extended warranty. GEICO's MBI coverage:

Includes all parts and systems not just the specific list of items covered by most dealer warranties.
Saves you money, charging only a small premium per each policy period, instead of a large lump-sum payment up front.
Lets you get your car repaired wherever you like.

*MBI Exclusions

Exclusions to this policy include regular maintenance services such as tune-ups, suspension alignment, wheel balancing, filters, lubrication, coolant and fluids, spark plugs, brake pads and linings, brake shoes, and tires. Also, breakdown repairs made necessary by intentional damage, corrosion, misuse, or improper maintenance are not covered. Mechanical Breakdown Insurance coverage is in excess of coverage provided by your manufacturer's warranty. Read the policy amendment for the complete terms and conditions of this coverage.

 

[jaz13]

I strongly disagree with this, but to each his own. You have a motor or trans go after your factory powertrain runs out and you are looking big money especially for a motor. Of course it might seem like a waste if you buy one and dont use it but I see plenty of people putting their warranty to good use. Escpecially on high end cars BMW Mercedes etc

All manufacturers know exactly how much they will spend in repairs and the cost of the warranty is always at least 2x that amount. If you know more about F-150 failure rates than Ford, good for you. If not, you are just gambling that your truck will break and this approach is no different than playing a lottery with a 50% payout rate. A few will do better, but most will be poorer because of it.

 

[Rock7256]

All manufacturers know exactly how much they will spend in repairs and the cost of the warranty is always at least 2x that amount. If you know more about F-150 failure rates than Ford, good for you. If not, you are just gambling that your truck will break and this approach is no different than playing a lottery with a 50% payout rate. A few will do better, but most will be poorer because of it.

I'm not trying to change your mind man, thats your opinion and you are entitled to it. I just completely disagree

 

[jaz13]

I'm not trying to change your mind man, thats your opinion and you are entitled to it. I just completely disagree

Insurance is a always bad investment because expected ROI is always negative.

average payout * probability of payout - cost of insurance = big negative number.

Chances of profiting from insurance is no better than buying lottery tickets.

Only time insurance makes fiscal sense is protection against financially ruinous events like sickness, fire, and death.

I can afford a raptor engine. I cannot afford to rebuild my house.

But I own insurance companies in my retirement account, so please buy as much insurance as you can.

 

[DrippinRaptor]

I bought the Ford ESP 6yr/125k warranty for mine. I had my 2012 Raptor for 5 years. This 2018 has a lot more electronics and things that can go wrong.

 

[Mahoney]

All 3rd party warranty agendas are to take your money and try not to pay for anything. If you have an engine or transmission issue, it will be on you to approve/possibly be out of pocked for tear down to the point of failure and then they'll send an inspector two days later typically to come up with a reason why they won't cover it leaving you with a torn down engine/trans and a bill. They always don't always use OEM parts, sometimes they will ship a cheaper part to be used if it's less than the OEM option. I've dealt with many over the years and there's ok ones and terrible ones and nothing is better than Ford ESP in my experience as well.