perfik Posted May 24, 2011 Report Share Posted May 24, 2011 I am picking up a used 2008 Edge Limited this afternoon. I have been a Jeep guy my whole life, this will be my first Ford vehicle ever and I am hoping it won't be a money pit like the Jeep was. It has 70K on the odometer and it's a Canadian model since I am from Aurora Ontario. Not knowing the history of the Edge nor knowing the reliability I opted for the extended warranty so hopefully I will be covered for anything that comes up. I have always maintained my own vehicles so I'm hoping this forum is the place to be to learn about the ongoing maintenance required. Quote Link to comment Share on other sites More sharing options...
JOEHIO Posted May 25, 2011 Report Share Posted May 25, 2011 (edited) Congrat's on your purchase, and welcome to FORD COUNTRY ! Smart choice, min my books, with going with the extended warranty. Which one ( miles/time period) did you get? Some people in this forum, think that it is a waste of money, but with my '06 Explorer, it paid for itself 3 times over. Yes, did have a few problems after the 3/36 warranty. It's kind of like "term" life insurance. You pay for a specific period of time, then it's over, but you have the protection. Way back, I bought a new '95 Explorer, kept it 7 years, 140K miles, sold it to friends, for their daughter who wqas in college ( backmin '02 ), and she just sold it a month ago, with over 200k MILES, AND NO MAJOR PROBLEMS. Just follow your owners manual with maintenance, and you'll be good as gold. Edited May 25, 2011 by JOEHIO Quote Link to comment Share on other sites More sharing options...
perfik Posted May 26, 2011 Author Report Share Posted May 26, 2011 Congrat's on your purchase, and welcome to FORD COUNTRY ! Smart choice, min my books, with going with the extended warranty. Which one ( miles/time period) did you get? Some people in this forum, think that it is a waste of money, but with my '06 Explorer, it paid for itself 3 times over. Yes, did have a few problems after the 3/36 warranty. It's kind of like "term" life insurance. You pay for a specific period of time, then it's over, but you have the protection. Way back, I bought a new '95 Explorer, kept it 7 years, 140K miles, sold it to friends, for their daughter who wqas in college ( backmin '02 ), and she just sold it a month ago, with over 200k MILES, AND NO MAJOR PROBLEMS. Just follow your owners manual with maintenance, and you'll be good as gold. I got the 3 year 60K full package like a new car warranty since i don't know what the vehicle has been through. My last Jeep extended warranty paid out in the first year so I am a big believer... After the first big items I did everything myself and that truck is over 200K and going strong now. Quote Link to comment Share on other sites More sharing options...
akirby Posted May 26, 2011 Report Share Posted May 26, 2011 I got the 3 year 60K full package like a new car warranty since i don't know what the vehicle has been through. My last Jeep extended warranty paid out in the first year so I am a big believer... After the first big items I did everything myself and that truck is over 200K and going strong now. Was that an ADDITIONAL 3 yr/60K miles? Most Ford ESP plans go by total time and/or mileage, not incremental. You did get a Ford ESP, right? My last Jeep extended warranty paid out in the first year so I am a big believer... Let's say you went to Vegas, placed one bet at the roulette wheel and won $5K. Would you then be a big believer in the roulette wheel? Would you expect to win $5K every time you played? If you played the same bet 100 times do you think you would be winning or losing overall? Quote Link to comment Share on other sites More sharing options...
perfik Posted May 26, 2011 Author Report Share Posted May 26, 2011 Was that an ADDITIONAL 3 yr/60K miles? Most Ford ESP plans go by total time and/or mileage, not incremental. You did get a Ford ESP, right? Let's say you went to Vegas, placed one bet at the roulette wheel and won $5K. Would you then be a big believer in the roulette wheel? Would you expect to win $5K every time you played? If you played the same bet 100 times do you think you would be winning or losing overall? yes it is Ford ESP and it is from the date of purchase so 3 years or 36K of MY KMs. I appreciate the sentiment about the gambling however I defy to you find a vehicle that is as reliable as a roulette wheel. I admit I don't know the warranty claim rate for Ford other than it is historically stable around 2.5% of revenue but not the actual % of vehicles that experience a claim. However, knowing that the reliability of the vista roof is under speculation and that there is a known problem with the PTU seal which is apparently getting fixed soon I believe it is better to be safe than sorry. By the way, if you played the roulette table 100 times on a single number your win rate would be exactly the same as the Ford Warranty Claim rate payout, 2.5%. It's the same argument around insurance of any kind. For example, most pet owners don't carry pet insurance, but I do. I have had over $10K in insurance claims on my previous pets because I know how you will get gouged by the vets and I won't stand for it. Same principle here, I won't stand for being charged obnoxious rates to replace parts that shouldn't need replacing when I could have protected myself. 3 years from now when I know the vehicle and have had time to go over it, maintain it and know it's weaknesses I won't need the warranty. Until then, colour me cautious. Quote Link to comment Share on other sites More sharing options...
akirby Posted May 26, 2011 Report Share Posted May 26, 2011 yes it is Ford ESP and it is from the date of purchase so 3 years or 36K of MY KMs. I appreciate the sentiment about the gambling however I defy to you find a vehicle that is as reliable as a roulette wheel. I admit I don't know the warranty claim rate for Ford other than it is historically stable around 2.5% of revenue but not the actual % of vehicles that experience a claim. However, knowing that the reliability of the vista roof is under speculation and that there is a known problem with the PTU seal which is apparently getting fixed soon I believe it is better to be safe than sorry. By the way, if you played the roulette table 100 times on a single number your win rate would be exactly the same as the Ford Warranty Claim rate payout, 2.5%. It's the same argument around insurance of any kind. For example, most pet owners don't carry pet insurance, but I do. I have had over $10K in insurance claims on my previous pets because I know how you will get gouged by the vets and I won't stand for it. Same principle here, I won't stand for being charged obnoxious rates to replace parts that shouldn't need replacing when I could have protected myself. 3 years from now when I know the vehicle and have had time to go over it, maintain it and know it's weaknesses I won't need the warranty. Until then, colour me cautious. They wouldn't be selling warranties of any kind unless they made money on it, meaning that ON AVERAGE they pay out less than they charge. That is guaranteed or they wouldn't be in business. Just like a casino always makes more money than they pay out. Same for insurance companies. Check any large corporation and you'll find that they're self-insured for most things. Why? Because it's always cheaper in the long run. You only buy insurance for things that you can't afford to pay for out of pocket (new cars, houses, etc.). On any warranty or insurance policy you can come out way ahead. Maybe on several. But over a long period of time on multiple policies, etc. the odds are not in your favor. As an opposite example, I've had 5 vehicles that surpassed the original factory warranty by at least 2 years. I did not buy an extended warranty and I never had a repair. So I'm $7500 ahead at this point and even if I have to buy a new engine tomorrow I'm STILL ahead. I'm not saying don't gamble, but understand that it's a gamble and that on average you won't save money. Quote Link to comment Share on other sites More sharing options...
Hankster Posted May 27, 2011 Report Share Posted May 27, 2011 Personally, I think the only gamble is not getting the extended warranty coverage. Paying a thousand and change up front gives me piece of mind knowing that I will not be stuck with a huge repair bill if something breaks on my vehicle. To each his own on this one but to compare purchasing extended warranty coverage to a game of roulette is ridiculous. Quote Link to comment Share on other sites More sharing options...
JOEHIO Posted May 28, 2011 Report Share Posted May 28, 2011 (edited) yes it is Ford ESP and it is from the date of purchase so 3 years or 36K of MY KMs. I appreciate the sentiment about the gambling however I defy to you find a vehicle that is as reliable as a roulette wheel. I admit I don't know the warranty claim rate for Ford other than it is historically stable around 2.5% of revenue but not the actual % of vehicles that experience a claim. However, knowing that the reliability of the vista roof is under speculation and that there is a known problem with the PTU seal which is apparently getting fixed soon I believe it is better to be safe than sorry. By the way, if you played the roulette table 100 times on a single number your win rate would be exactly the same as the Ford Warranty Claim rate payout, 2.5%. It's the same argument around insurance of any kind. For example, most pet owners don't carry pet insurance, but I do. I have had over $10K in insurance claims on my previous pets because I know how you will get gouged by the vets and I won't stand for it. Same principle here, I won't stand for being charged obnoxious rates to replace parts that shouldn't need replacing when I could have protected myself. 3 years from now when I know the vehicle and have had time to go over it, maintain it and know it's weaknesses I won't need the warranty. Until then, colour me cautious. I think that cautious is a very nice color. Lat summer, My '06 Explorer had rear axle bearing and shaft go out, rear wiring harness, frozen spark plugs that was all covered under extended warranty, sure glad I took it. A gamble maybe, but I rather gamble on warranties, then to dump a bunch of $$$'s at the casino's that we have here in NJ at Atlantic City ! Edited May 28, 2011 by JOEHIO Quote Link to comment Share on other sites More sharing options...
akirby Posted May 28, 2011 Report Share Posted May 28, 2011 Personally, I think the only gamble is not getting the extended warranty coverage. Paying a thousand and change up front gives me piece of mind knowing that I will not be stuck with a huge repair bill if something breaks on my vehicle. To each his own on this one but to compare purchasing extended warranty coverage to a game of roulette is ridiculous. You're right - roulette probably has better odds. Yes, it's a gamble either way. The difference is when you self-insure the odds are in your favor. When you buy an ESP the odds are in their favor. Personally, I don't like to spend $1000 - $2000 for something I may end up not using. If it makes you feel better to spend the money up front then go for it. Quote Link to comment Share on other sites More sharing options...
battmbl Posted August 4, 2011 Report Share Posted August 4, 2011 Personally, I think the only gamble is not getting the extended warranty coverage. Paying a thousand and change up front gives me piece of mind knowing that I will not be stuck with a huge repair bill if something breaks on my vehicle. To each his own on this one but to compare purchasing extended warranty coverage to a game of roulette is ridiculous. 'yever seen a insurance building? They're big. And expensive. And they're paid off. 'yever wonder why? Try this: Every time you feel like buying an extended warranty, ...don't. Instead, put that amount of money into a special savings account labeled "god i'm glad i started doing this". Then, every time one of those items (all of those vehicles, electronics, etc.) breaks, and you're SURE the warranty would've paid for it (making sure it's within the time frame and limitations of the policy -had you bought it,- minus the deductibles, of course), take the money out of that savings account to pay for it. Then, see how much money is in there after five, ten, twenty, and thirty years. I guarantee you'll have enough to truly enhance your retirement. Quote Link to comment Share on other sites More sharing options...
JOEHIO Posted August 4, 2011 Report Share Posted August 4, 2011 (edited) 'yever seen a insurance building? They're big. And expensive. And they're paid off. 'yever wonder why? Try this: Every time you feel like buying an extended warranty, ...don't. Instead, put that amount of money into a special savings account labeled "god i'm glad i started doing this". Then, every time one of those items (all of those vehicles, electronics, etc.) breaks, and you're SURE the warranty would've paid for it (making sure it's within the time frame and limitations of the policy -had you bought it,- minus the deductibles, of course), take the money out of that savings account to pay for it. Then, see how much money is in there after five, ten, twenty, and thirty years. I guarantee you'll have enough to truly enhance your retirement. If you plan on buying/leasing a whole more bunch of cars, MAYBE so, it is a gamble, just like life itself. I rather have piece of mind, then some extra bucks in my pocket. If you plan to unload a car after 3 or 4 years, yeah, bag the warranty. If you plan to keep 5-7 years, I would go for the extension. Heck, I'm over 55, won't be saving a whole bunch of bucks, and if I haven't already saved for retirement, then I'm screwed. Edited August 4, 2011 by JOEHIO Quote Link to comment Share on other sites More sharing options...
mbct Posted August 4, 2011 Report Share Posted August 4, 2011 You can't count on quality anymore, no matter what the advertising says. About 30 minutes ago I shelled out over $600 for a new wheel bearing/hub assembly and trailing link. I've been driving for over 40 years, hundreds of thousands of miles and dozens of vehicles of every make and model. I have replaced exactly 3 wheel bearings and two of them have been on my 2007 Edge, which has 66K miles therefore no warranty on the wheel bearings. My assumption that any major defects will show up within the first 50K or 60K has cost me this time. Quote Link to comment Share on other sites More sharing options...
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