I just bought a 2.7 STX and got a great deal since I work for a Ford supplier.
They’re offering to extend the bumper-to-bumper warranty to 100k km (about 60k miles) for $1800 CAD (around $1300 USD). The standard warranty is 60k km (about 40k miles).
The issue is the extended warranty costs quite a bit for just an additional 40k km. I can see the value in extending the powertrain warranty, but for the bumper-to-bumper coverage, it seems like a lot of money for relatively little extra coverage. I’m unsure if it’s worth it.
I will go against the common view and say no. Extended warranties are sold for profit, so on average, they’re not worth it for consumers.
It is a gamble some trucks might have issues, and some might not. I fell for the fear tactic with my 2015 F150 and bought an extended warranty, but I never used it. For me, it was a waste of money, though experiences will vary for everyone.
I have never purchased extended warranties for anything and have always declined them. There might have been a few rare instances where an extended warranty could have been beneficial, but overall, I’ve found that I’m better off financially by not buying them.
Extended warranties often exclude certain parts because companies know which components are profitable to cover or omit. Consumers should be cautious and fully understand what is included in an extended warranty before purchasing.
I have always been skeptical about buying extra products from dealerships, including things like gap insurance.
However, after my 2018 truck started having issues like engine noise and transmission problems, I decided to purchase an extended warranty for $1,500. Considering the potential costs of future repairs, it felt like a wise investment for peace of mind.
From what I have seen, even when you have coverage for something, there are usually deductibles and other fees that end up costing you. I have always been skeptical about extended warranties. Dealerships make a significant profit from them, and it’s often their most lucrative part of the business.
That is a great summary. I had a similar experience. My first car, a Chrysler, benefited greatly from the extended warranty, paying for itself multiple times.
However, I bought extended warranties for my subsequent vehicles (Nissan Pathfinder, Toyota Sienna, and Jeep Wrangler) and never needed them.
Given the known issues with transmissions and cam phasers, I decided to purchase extended warranties for my F-150 and Expedition as a precaution.
$1300 is a reasonable price for a factory warranty, especially if it covers bumper to bumper.
Some dealers charge a lot for warranties while others do not. For example, I was helping a friend buy a new car that already included both bumper-to-bumper and powertrain warranties. The payment would have increased from $415 to $567 per month over 60 months. It doesn’t seem too bad, but it would add $9,120 to the total vehicle cost! We decided against it and planned to get independent warranty coverage later. It’s a good reminder to always negotiate the final price.
I bought a new F150 SCREW in 2017 and didn’t get an extended warranty. I had a few repairs covered under the original 36/36 warranty, but my out-of-pocket costs have been for routine maintenance (like oil changes, transmission service, and rear differential service), tires, and a backup camera that I replaced myself for about $100. The truck now has 83k miles. Personally, I’d save the $1800 CAD and put it toward regular maintenance instead.
