To buy or not to buy aExtended warranty for a high milage Gen1

[Colinago]

Hi all, I am getting close to be getting a gen1 I hope. So I have found one I like still need to get a PPI inspection. The 2012 has 98,000 miles on it and was wondering everyone's opinion on whether to buy and extended warranty? They are offering a 3yr/36k mile warranty for $4995.00. On some level its good insurance incase something happens in the first 36k miles, but I am not sure. What is all your opinions please. Thanks

 

[Ricoman]

Hi all, I am getting close to be getting a gen1 I hope. So I have found one I like still need to get a PPI inspection. The 2012 has 98,000 miles on it and was wondering everyone's opinion on whether to buy and extended warranty? They are offering a 3yr/36k mile warranty for $4995.00. On some level its good insurance incase something happens in the first 36k miles, but I am not sure. What is all your opinions please. Thanks

Seems pretty high at $5,000....Back in 2010 when I bought my new Tacoma the dealer also offered me an extended warranty..it was around $3500 as I remember...and I did buy it...BUT canceled the next day after I thought it over and did some research...So,what I learned....you do NOT have to buy the warranty from the dealer you buy the truck from....in fact there were 4-5 dealers I contacted in the Mid-West (I'm in Pacific Northwest)that were hot on my ass to sell me a policy for $700...YEP..same exact policy....Its like any "part" you would buy for your truck...why is it $99 one place $149 another and $200 at a 3rd...same part....sounds like your dealer has a pretty high mark-up...although I dont know what a policy today cost,I'd bet you could get him down at least 1/2...he wants to sell you that truck...you can dicker on a warranty just like the price of the truck.I dont remember the dealers names,but if you Google "Extended Auto Warranties" you should have plenty to research...
As far as is it a good idea....well,I finally told ALL the dealer,I dont want it....drove the truck for 60K...sold it for a great price,and never did anything more than change the oil...BUT...with a 98K vehicle....its a crap shoot...Ive only bought an extended warranty once years ago when VW introduced the Turbo Diesel...it was new tech at the time,car was 1 year old with 8K on it....so I figured I better buy it...3 months later,engine blew....and I was covered.....IMHO...at $5,000 I'd pass....but if you can get him down to $2K range,....I'd go for it....just make sure to read the fine print....they are like ANY damn insurance co...they take your $$,and they cry or say its your fault when they have to pay out....
Good luck..!!

 

[Colinago]

Seems pretty high at $5,000....Back in 2010 when I bought my new Tacoma the dealer also offered me an extended warranty..it was around $3500 as I remember...and I did buy it...BUT canceled the next day after I thought it over and did some research...So,what I learned....you do NOT have to buy the warranty from the dealer you buy the truck from....in fact there were 4-5 dealers I contacted in the Mid-West (I'm in Pacific Northwest)that were hot on my ass to sell me a policy for $700...YEP..same exact policy....Its like any "part" you would buy for your truck...why is it $99 one place $149 another and $200 at a 3rd...same part....sounds like your dealer has a pretty high mark-up...although I dont know what a policy today cost,I'd bet you could get him down at least 1/2...he wants to sell you that truck...you can dicker on a warranty just like the price of the truck.I dont remember the dealers names,but if you Google "Extended Auto Warranties" you should have plenty to research...
As far as is it a good idea....well,I finally told ALL the dealer,I dont want it....drove the truck for 60K...sold it for a great price,and never did anything more than change the oil...BUT...with a 98K vehicle....its a crap shoot...Ive only bought an extended warranty once years ago when VW introduced the Turbo Diesel...it was new tech at the time,car was 1 year old with 8K on it....so I figured I better buy it...3 months later,engine blew....and I was covered.....IMHO...at $5,000 I'd pass....but if you can get him down to $2K range,....I'd go for it....just make sure to read the fine print....they are like ANY damn insurance co...they take your $$,and they cry or say its your fault when they have to pay out....
Good luck..!!

Thanks


So its an independent dealer a big one and the extended warranty is through ford. I am getting the contract in email hopefully before I decide to get it PPI'ed. Yes its a crap shoot getting a gen 1 at 100k miles. The few friends that have gen 1's have 150k miles and 198k miles on theirs . The 198k mile friend blew a head gasket at 199. and replaced the motor and is happy as a clam except the $10k bill for a new motor from ford. I just don't know if the gamble is worth it can others comment? Please thanks

 

[Shaved Ice]

5K for 3 years of coverage for something that might happen? I would invest the 5K or at least put it in an interest bearing account.

 

[Ricoman]

Thanks


So its an independent dealer a big one and the extended warranty is through ford. I am getting the contract in email hopefully before I decide to get it PPI'ed. Yes its a crap shoot getting a gen 1 at 100k miles. The few friends that have gen 1's have 150k miles and 198k miles on theirs . The 198k mile friend blew a head gasket at 199. and replaced the motor and is happy as a clam except the $10k bill for a new motor from ford. I just don't know if the gamble is worth it can others comment? Please thanks

Doesnt matter how big the dealership is...they all offer an Extended...and yes,sure Ford offers one,but most are Warranty companies selling it thru the dealership....its like your Auto/Home/Business/Boat,etc..insurance...usually you have an Insurance Agent that will offer 4-5-6 different companies...The "agent" in this case would be the Ford Dealership...they can sell Extended Policy from any number of companies...pretty sure most just choose 1-2 options to offer to their customers...

 

[Swacer]

That warranty seems severely flawed. I got my Premium Fordcare plan for my raptor up to 100k for like $2500 (truck had 25,000 on it when I bought it).

 

[TK421]

I bought *the best* factory extended warranty from ford for my 13’ that I got used. All the dealerships in SoCal don’t want to honor any of the issues I’ve had so I end up fixing it myself. Had the IWE issues multiple times with crazy grinding, the vacuum line cracked once causing the IWE to act up, axle went out, had an electrical problem where a cable that went to the alternator melted. They denied every claim. The best of the best warranty apparently doesn’t cover anything that is battery related, and every time I took it in to have them look at my IWE they said they couldn’t find or hear anything even though it was grinding and clicking and did the typical symptoms that are totally obvious. If you have any aftermarket parts they will use that against you and deny it also. I have upper control arms, and the rest of the truck was stock. They said anything in the front end is now void because of the UCA’s. So now I just mod the hell out of my truck, removed the entire IWE, been doing susp mods and don’t deal with the stealership anymore and fix anything myself. Luckily it’s been pretty good to me minus those couple issues.

They talk the talk and act like the warranty is going to save you and they will fix anything even lost bolts. But when it comes down to a real issue and you bring it in they do their best to not cover it.

 

[Canuck714]

Extended warranty is a huge markup item for the dealer on used cars. Biggest moneymaker in the used car biz.
Tell him you want it, but will only give him $100 over cost. Cost is gonna be $12-1500 for 3 years depending on coverage.... Oh ya, the aftermarket warranty wont cover shit if you use your truck the way it was intended..lol

 

[Trick.Raptor]

5k for 3/36 is very expensive. I went with a Ford ESP plan for 4/40k (might be 5/40k) at 86k on my 2013 for $2300. And while @TK421 is correct about SoCal dealers my dealer has been very good even with my modified Raptor.

I don't make claims with anything I've modded (not saying anyone here tries that) and I've already had $1600+ in warranty work performed for various issues... (cooling fans, door locks, clock spring, rear axle seals, leadframe...)

If anything I would shop around for a better price on the warranty cost.


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[Jonny V]

I got the extended with my ‘12, which I bought with 24k on the odometer. Cost me $1500. Then a while later on, the rear defroster stopped working. Turns out that one of those little heater thingys burned out and the only way to fix it is to replace the rear glass...

Replacing the rear glass means tearing out near the whole backseat area, and the glass itself is expensive as hell too. That one item paid off my extended warranty.