Starting to think about Extended Warranty

[Ross]

Well, I have 32K on the odo, and I'm starting to think about a factory extended warranty before my factory warranty runs out. I have the following mods which could void a warranty:
chip (could be taken out before warranty work if necessary)
underdrive pulleys (probably won't be noticed )
K&N conical filter (could be replaced with factory filter and box if necessary before work)

Have had dealer oil changes religiously every 3K, so my record of maintenance should be spotless with FLM.

Any thoughts before I drop the bucks?

[sailsmen]

Todays auto is such a complicated myraid of multiple systems I recc the extended warranty.

Just the cost of repairing the ABS or airbag safety or airbag suspension system would probably exceed the extended warranty costs.

Gone are the days when it was just an engine, transmission, body, suspension and drum brakes. Back then I did all the maintenance and most of the repairs including engine rebuilds my self, and the only thing I would not repair was the auto trans!

[SergntMac]

Without knowing what your extended warranty will cover, Ross, or how it will provide repairs, sailsmen makes a good point. Lots of expensive stuff can go bad, and the cost of the warranty may save you twice that in repairs. However, there is another side to this car, and things have matured nicely in our favor.

I imagined loosing my engine, and looked at my options. I can replace that with a complete bone stock crate engine from KarKraft for 2900 bucks. I could even take that opportunity to build something greater, stronger and faster. 2900 bucks is more than an extended warranty will cost you, but there's no guarantee that the warranty will cover you anyway. You don't decide what gets fixed, they do, and they also decide how. You could get fixed with used parts that have been abused more than the parts that failed.

Already I have lunched my tranny and rear end, and I rebuilt both with high quality aftermarket performance parts that cost me less than an extended warranty. I can't complain because I broke them, and I figure it's the cost of driving my MM the way I do.

You're not heavy on the mods, Ross, and if you're not planning any more mods, an extended warranty may be the way to go. However, not having any warranty at all, has a certain comfort to it as well. A "freedom" to do what you want with your car. I believe one will take better care of his automobile to protect his investment, when there is no other protection. Likewise, make better decisions on how to mod it, and how to drive it.

Between making payments, and worry over voiding a warranty, I wonder if any of us really become owners, emotionally speaking. We're more worried about the money, than the pleasure of full ownership. Please, I mean no flame towards anyone, I'm just making an observation about what we care about, and what worries us.

I probably didn't help much here, because I'm a die hard MM owner. I treat my MM with respect and care for it, and better than many of you may believe. However, it's tool in my life that gives me much pleasure when I hammer it, and without that pleasure, ownership is meaningless to me. I've got the title in the drawer, and never had a warranty to begin with, so, how long this MM lasts, is truely in my hands.

So...IMHO...Beat it, break it, fix it and beat it some more. You'll never forget the experience, or, apologize to yourself for what you missed.

[sailsmen]

Good Point about what the extended warranty may or may not cover.

1st - Look very closely first at the financial status of the warranty company ( years in the business and total assets). Remember every major insurer that failed was "A" rated shortly before it failed.

2nd - Look at the actual contract for what is or is not covered

3rd - what repair shops will accept the warranty company.

I am a firm believer in the mfg warranties, although some have had good experience with the non-mfg warranties.

[Paul T. Casey]

I bought the extended warrantee when I bought the car. Didn't stop me from mods, albeit minor to this point. My theory is, if something goes wrong, it may get fixed. The other thing about mine, is that if I don't use it, I get the money back when it's expired. Mod to your hearts content, but be ready to pay repairs if they prove failure is due to a particular modification. I do like Mac's philosophy on this.

[merc406]

Extended Warranty, if it's gonna keep you awake nights without one, buy it.

[Smokie]

I have purchased extended warranties twice to be exact, on the Crown Vic and a Mustang I no longer own. They were the Ford ESP plan. In both cases the warranties paid far more in repair costs than the price of the warranty. Having said that, the reason these warranties are sold is to make money and I believe I was simply lucky that in my case I got a substantial return on my investment, that will not be the case for most people...this product is not sold to lose money.

[sailsmen]

If you keep the car for the length of the warranty you will usually come out ahead.

Most people sell the car before the warranty period expires and do not transfer it to the new owner. That is how they make money.

I have studied the actuarial data for a project I did, although several years ago when cars were less reliable I still feel my first sentence is probably accurate.

[gonzo50]

So...IMHO...Beat it, break it, fix it and beat it some more. You'll never forget the experience, or, apologize to yourself for what you missed.

I like SergntMac's theory, just do it.

[2005Marauder]

I worked in the auto business for more than 11 years in the accounting office.

If you plan to keep the car with no or few modifications, my advice is to purchase an extended warranty. I've seen the repair bills.

If you don't think you need an extended warranty on your automobile, then cancel your home owners, auto, and life insurance policies and budget at least 25% of your paycheck on lottery tickets.
P.S. Get the $50 deductible.

[CRUZTAKER]

I purchased the 6/75k bumper to bumper last summer when Rush was offering them at 25% off. Remember, the longer you wait to extend, the more $$$ they tack on the price tag. The best price was within the first year.

I have mods...so what? I bought the warranty for the dumb shat that goes wrong that have no weight on my mods. IE: Window switches, headlamps, airbag, ABS, radiator, cluster switches, alternator, heating and cooling, and the list of wallet breakers goes on and on....

Screw the drivetrain, it's all high performance, as is the exhaust...and the motor? They're gonna fix the cam tick regardless of a couple mods.

[DL04]

Ross-I've been looking into getting an aftermarket warranty ie; warrantydirect.com, autowarranties.com, allstate ins. also has a parts and labor policy too.Most aftermarket warranties go around $1200-$1500 for 7/100k with a $50 ded.The best thing about these warranties is that you decide who to take it to. Ford ESP has to be serviced at the dealer!If you deal with a regular repair shop ask them if they deal with any aftermaket companies-my shop says he hasnt had any problems with them to date,he can usually save you the ded.too. Even so I'm a little leary of these warranty companies since I'v always had factory warranties with out any coverage problems but if your going to have some mods done aftermarket might be the way to go. If anyone has had a problem collecting on an aftermarket warranty let us know.

[sailsmen]

I am aware of about 6 that went bust in the last 10 years so take the advice in my above post.

[teamrope]

I've seen it go boath ways. When we got the Mystaque, I opted for the 6/100K. I lost to the tune of about $100. The damd thing didn't start breaking till we paid it off. (Trany went south 2 days after. Front rotors, battery and alternator 4 months after that)

The kind of luck I have, they would have gone out sooner had I NOT had the extended covorage.

[SergntMac]

If you don't think you need an extended warranty on your automobile, then cancel your home owners, auto, and life insurance policies and budget at least 25% of your paycheck on lottery tickets.

Cool...Do you favor any particular state?