Extended service plan?? Worth it??

[BLKBEARKLR]

I have a 2008 F250 6.4L diesel 4x4, it has 21,000 miles on it. They sent me a paper saying I can extend the manafacture warranty, till 60,000 miles or 2015 whatever comes first. For 2185.00 bumper to bumper.

So I know I have a power/drive train warranty already that goes to 60,000. So is it worth it to get this added on? They said they would take over that also once it expires at 5 years which would be sep 2013.

What are your thoughts? Ever had one before? Is it like some of these other ones where they say o sorry your not covered under this one?

Thanks
Joe

[h20hunter]

Here is one thing to consider....everything is negotiable. I would ask for a better price and see where they go. Example. I purchased a new FJ cruiser. They offered me an extended contract in finance, 8 year/100k for $3999.00. I said yes and paid 2k for it. I ended up getting the contract a couple hundred over the dealer cost. Now, extended you may not see that kind of discount but if you can get it down it could pay for itself easily.

[jackelope]

STOP!!!
Who is the contract through?
If it's not a Ford ESP, throw it away.
There's an aftermarket service contract scammer soliciting people via the mail lately. They were on the news. I've had a few run ins with this service contract company before. They don't cover chit.
I'm a big supporter of service contracts, but only when they come from the manufacturer. Ford would be referred to as a Ford ESP contract.
Also consider the time and miles of the term and make sure that fits your style of driving. Don't pay extra for a 5 year 100k mile contract if you're only driving 10k miles a year. Buy a 5 year 50k mile contract...or whatever the case may be. Also don't pay for extra coverage that you  probably may already have....that diesel maybe has 5 year 100k mile engine warranty..don't pay extra on a service contract for engine coverage in other words.
Note-
I don't know the warranty on Ford's diesel engines so don't use what I said specifically.

[jackelope]

And read the fine print as far as whats covered and whats not and know what you're getting.

99% of the frustration people have with service contracts in my opinion is because they think something should be covered but it is not. The contracts are very very specific as far as covered components. In other words...a powertrain contract that covers internally lubricated powertrain components won't cover a power steering pump or something silly like that. When it says the contract covers manually operated switches...that doesn't mean it will cover a 4x4 actuator, even though it is a switch and it is, at some point, manually operated.

[littlemac]

STOP!!!
Who is the contract through?
If it's not a Ford ESP, throw it away.
There's an aftermarket service contract scammer soliciting people via the mail lately. They were on the news. I've had a few run ins with this service contract company before. They don't cover chit.
I'm a big supporter of service contracts, but only when they come from the manufacturer. Ford would be referred to as a Ford ESP contract.
Also consider the time and miles of the term and make sure that fits your style of driving. Don't pay extra for a 5 year 100k mile contract if you're only driving 10k miles a year. Buy a 5 year 50k mile contract...or whatever the case may be. Also don't pay for extra coverage that you  probably may already have....that diesel maybe has 5 year 100k mile engine warranty..don't pay extra on a service contract for engine coverage in other words.
Note-
I don't know the warranty on Ford's diesel engines so don't use what I said specifically.

I second the Manufacturer Warranty plan.  Watch out for the bougus companies mailings that come all the time.  Check the AG website, they have closed down a few of them.

[JackOfAllTrades]

I agree with Jackalope!

I'm 'anti-service contract', type, but if there's one to have it should be from or sponsored by the manufacture.  That said, My 04 PSD had 100,000 mile contract for the engine. (long past over) And there are a few 'emissions' things that are not covered beyond 60k but they spell most of it out. Thing is... They'll extend to 60K? How much warranty is still left on your 2008? Miles/years?

-Steve

[h20hunter]

You could also PM Buckmark, he is in the know about this topic.

[Woodchuck]

I deal with them very regularly and also believe they are for the most part a scam. Basically they are an insurance company and they only stay in business by paying out less than they take in.
I tell people this, That is a nice new truck so I would guess you will see no major repairs in the near future. Take the money per month you would pay out for that contract and tuck it away for repairs and that way if you don't use it on repairs it is still your money. 

[Mike450r]

A similar topic was on here awhile back.  I have purchased a lot of vehicles.  25 or so in the last 20 years.  I love my toys.

Extended warranties can be good sometimes but usually cost more than the repairs on average.  If you do it my recommendation is to not add it into the loan, pay cash for anything like that or you will find yourself upside down and that is not what you want when trade in time comes.  Always strive for a balance that is less than trade in book.

[BLKBEARKLR]

ok maybe I was not specific, for that I apologize.

It is my truck I bought it new in 2008 and paid it off 6 months later. I have owned the truck since it had 2 miles on it. It is a Ford Extended Service plan, I am coming up on my 36,000 miles or 36 month warranty.

I just did not know if 2185.00 is worth dropping into a truck that is still under a power train/ drive train warranty. I mean I know a lot of other small things can go wrong.

Joe

[Buckmark]

Wow jackelope said it just like i would have. I like sticking to them when i get to and i am sure he does also.
But i would never ever buy one, just me but i have very very rarely seen were anyone has come out ahead with one.
I say give me 2185 of your money i will fix your vehicle of it breaks down, if it is a covered repair....
 

[Buckmark]

If you do decide to buy it and it is truley from Ford, read the thing well before purchase or have an independent service advisor read over it with you to see what it really covers, there is alot that is not covered and alot of the contracts are filled with "fluff" to make you think they are covering alot, also quite a few do not cover shop supplies, cleaners, fluids (ie: coolant) which on some vehicles can be costly, that ford gold is not real cheap. Some as in all i can think of also do not pay sales tax on the repair, but you the customer has to.
So a "covered" repair may still cost you a few bucks (see hundreds) out of pocket..
If it makes you fell all warm fuzzy and safe then buy it, put it under your pillow and maybe the warranty fairy will come...

[jackelope]

The sales tax thing is new the last couple years in this state...the customer pays sales tax on the purchase of the contract which makes it (now) illegal to charge sales tax to the service contract on the repairs. We don't charge the customer sales tax either. Buckmark...you might want to look into that law. I don't recall the exact verbage of it but I'm pretty sure there's a reason we don't charge the customer tax. It's been this way at 2 different dealerships.

Joe-
If your powertrain has coverage to 100k I would not buy a service contract on the truck as long as you don't mind fixing a window motor or something small now and then. The way people get their money back on them is when a motor or transmission goes south.
 
When it's a  factory service contract, everything is covered if the repair is covered. If a guy has a tranny go south and it's covered by a Chrysler service contract with a $100 deductible, he pays $100 and leaves when the car is done. No shop supplies, no coolant, no fluff, no tax. Thats the A#1 reason I recommend manufacturers service contracts.
I deal with 3-5 service contracts a day every day. I love service contracts and love bending a service contract over whenever I get the opportunity.

[CAMPMEAT]

I just bought a 2011 Silverado, the finance guy tried the sales pitch on me, $ 2495 down to $1500. Heck no I said.

[JackOfAllTrades]

The way people get their money back on them is when a motor or transmission goes south.

Engine.. More than $ you want to know. Transmission... I priced a 'replacement' tranny when I thought about an extended service plan.. About the same price as the contract.  Differentials.. I can rebuild them myself.

Computer... Now there's something to think about.... Just the diag is a spendy option. Wiring and electrics.. you're gambling on that one.

Anything else is handled by me. The rest by insurance, because if she's goin south in a hurry, I'm gonna start leaving it over night at the boat launch!   

-Steve