Does it matter when you buy your extended warranty?

[Donmatteo]

The new raptor has not shown to be so reliable, I would be worried about owning this truck without a warranty. Additionally you can always cancel it when you sell the truck and they will prorate it and mail you back a check peace of mind is worth the money to me.

I know they prorate it. But if the parts are covered, and I doesn't cost me a cent, and I can do it without giving ford an interest free loan, then why would I opt for the Ford product when they are essentially the same, and I can pay it monthly and not wait for 4-6 weeks to get a refund on a product I didn't really need for 8 years or 150k miles?

Let me ask it this way, Do you plan on getting a tax refund every year? if so, you are overpaying your taxes and giving the government an interest free loan for 12 months and have to wait for 4 weeks to get your money back.

I don't get a refund greater than $300 or owe more than $300. Been like that for at least 20 years. I get to keep and spend as I see fit and not wait to get my money back.

Same thing with extended warranties. I don't plan on keeping the raptor past 5 or 6 years and I won't get anywhere near 150K miles. I am realistic on how long I am planning on keeping it. I also tend to speed date cars.

If you plan on keeping a truck like the raptor for that long, all power to you. But if you dump it well before then, why pay the money?

 

[Oldfart]

Thanks for all the responses and information. I should have added I plan to keep the truck a long time. I was just reading up on the Flood Ford site, I didn't realize they had all the different deductibles and plan differences.

 

[Beinkounter]

Never heard of flood ford. But it doesn’t sound like a ford product, sounds like an after market warranty plan. I would strongly recommend against buying that or any after market warranties. I’ve had one before and trust me you will regret it. The dealer won’t be able to touch the truck until they get approval from the warranty company and you can bet your truck they will act just like any insurance company and will nickle and dime you and deny things left and right.

Extended factory warranty is definitely worth the money. Extended factory warranty sold by ford is called Ford Premium Care and is sold on Fordprotect.com. The prices are published so you wont have to haggle or guess. You should be able to see how much it would cost you depending on the age/mileage of your truck and the coverage that you want.

good luck.

 

[Donmatteo]

Wrong on Flood Ford and wrong on how GIECO’s coverage works.

 

[Booth9999]

Never heard of flood ford. But it doesn’t sound like a ford product, sounds like an after market warranty plan. I would strongly recommend against buying that or any after market warranties. I’ve had one before and trust me you will regret it. The dealer won’t be able to touch the truck until they get approval from the warranty company and you can bet your truck they will act just like any insurance company and will nickle and dime you and deny things left and right.

Extended factory warranty is definitely worth the money. Extended factory warranty sold by ford is called Ford Premium Care and is sold on Fordprotect.com. The prices are published so you wont have to haggle or guess. You should be able to see how much it would cost you depending on the age/mileage of your truck and the coverage that you want.

good luck.

Ford flood is the same as ford protect and a subsidiary of ford, works exactly like factory except they have a loaner truck waiting for me whenever I go in for service.
I pay over $20,000-30,000 in taxes every year and haven’t gotten a return for a long time. I am keeping the truck log haul so same/same to me without the monthly headache (I pay my insurance by the year also).

 

[df4801]

Never heard of flood ford. But it doesn’t sound like a ford product, sounds like an after market warranty plan. I would strongly recommend against buying that or any after market warranties. I’ve had one before and trust me you will regret it. The dealer won’t be able to touch the truck until they get approval from the warranty company and you can bet your truck they will act just like any insurance company and will nickle and dime you and deny things left and right.

Extended factory warranty is definitely worth the money. Extended factory warranty sold by ford is called Ford Premium Care and is sold on Fordprotect.com. The prices are published so you wont have to haggle or guess. You should be able to see how much it would cost you depending on the age/mileage of your truck and the coverage that you want.

good luck.

always wonder why people actually post a response if they have no clue what they are blabbering about???

flood ford sells factory warranties only.

their prices are usually the best around and the warranty is transferable.

do you think if I sell my truck with 60k miles on it but it has a factory 100k warranty that I will get a premium price???

 

[smurfslayer]

I would strongly recommend against buying that or any after market warranties. I’ve had one before and trust me you will regret it. The dealer won’t be able to touch the truck until they get approval from the warranty company and you can bet your truck they will act just like any insurance company and will nickle and dime you and deny things left and right.

This echoes my experience.

Flood Ford in Rhode Island is selling the genuine Ford ESP, they’re just up front about their pricing and you can do it all online. It was on Lucille’s VIN almost immediately.

Wrong on Flood Ford and wrong on how GIECO’s coverage works.

How does Geico do it then?

I have also had both and needed both. I had a warranty through Allstate when my ’97 SVT Mustang threw a timing chain tensioner. mechanic advised they needed to do a tear down to get to the parts, that was something like $1200 or $1500. Anyway, similar to the way OEM’s work, above a certain cost threshold, they send an agent onsite to find a way to deny coverage. Pay attention to the fine print. For example, does the Geico require arbitration to settle any disputes? How are disputes resolved? What’s the threshold for ‘we’ll just fix it’ to ‘is he crazy?’ what’s the financial limit of coverage?

If you do some internet searching - not you specifically @Donmatteo , the way these companies make money is by doing an automatic denial of coverage for any repair over a certain amount. Just like with a collision repair. They will slow walk and foot drag you in the hopes that you will just go away and repair it yourself. After they took 2 weeks to approve a tear down, and once the analysis was done and estimate of repairs made, it was another 10 days before my denial, another 2 attempts to appeal my denial over the ensuing month, an initial settlement offer, a 2nd offer and eventually payment. If they just paid out the claim, the financial model doesn’t work.

A good friend of mine is a Ford tech for 29 years now. His experience was similar, the people with ESP coverage are almost without fail green lit for repairs immediately, the aftermarket companies almost always had some sort of delay.

Maybe things have changed and gotten better over the years, and if so, great.

 

[Winchester30]

I like the “never heard of it but you’re wrong” opinions found on forums
(and life in general) frequently.

Great post.

 

[Troutrad]

Depending how young you are, this works really well if you’re compulsive about it:

I started a “car account” with money direct deposited out of my monthly check about 25 years ago. Enough to cover car payments and warranty that you’d usually pay for. After a time, basically you end up self insuring yourself. I had a Tundra with no issues for a LONG time, was paid off, so that account built up so much, that when my wife decided to surprise me, she wrote a check for the Raptor from that account this past November.

Did the same thing with dental. Never bought dental insurance but instead just saved the “premium” I would have paid for dental insurance. That account has 10’s of thousands in it now.

Downside is that if you get really unlucky particularly early on, you’ll take a hit. If you are modestly fortunate, and just keep at it, you’ll cover yourself, and then some!

 

[Donmatteo]

How does Geico do it then?

Apart from the cheesy video, here is the details.

https://www.geico.com/auto-insurance/mechanical-breakdown-insurance/

I used it on my Audi not too long ago and it was pretty pain free. The dealer called Gieco for me and they covered it with so much as a discussion as it was covered. I had to pay $250 which was far less than if I paid it out of pocket. It has the same exclusions as the ford warranty (modifications, wear and tear nonsense) but covered far more parts that are a hidden exclusion on the factory warranties.