is ford trust protect warranty (extended cover) worth it?

[kyrusdemnati]

mine expired in 2022 and been paying for this monthly since, not sure if its worth it in the long run

bullitt mustang, daily driver

in the uk, its an extended warranty via ford

https://www.myfordprotect.co.uk/product-benefits.html

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[luc]

mine expired in 2022 and been paying for this monthly since, not sure if its worth it in the long run

bullitt mustang, daily driver

in the uk, its an extended warranty via ford

https://www.myfordprotect.co.uk/product-benefits.html

Only you know your financial situation and tolerance to risk
For me insurance is only to cover a financial risk that i will not be able to afford.
Home, health insurance come to mind
A potentially expensive repair? Nope, it’s a very manageable risk for me and i have been financially way ahead of the game by using this formula

 

[KingKona]

Cost vs. benefit. If you were in the US, I'd whole-heartedly tell you to get it, as they're cheap for what you get.

Since we in the US don't know what you get for what you spend, it's impossible to suggest anything.

 

[luc]

Cost vs. benefit. If you were in the US, I'd whole-heartedly tell you to get it, as they're cheap for what you get.

Since we in the US don't know what you get for what you spend, it's impossible to suggest anything.

Part of the equation has to be risk, a small cost with huge benefits but no risk of it happening is still a negative

 

[KingKona]

Part of the equation has to be risk, a small cost with huge benefits but no risk of it happening is still a negative

There is no such thing as a vehicle that has "no risk" of needing repairs that could be covered by a warranty.

Also, you can't empirically quantify risk.

Schrodinger's cat.

 

[luc]

There is no such thing as a vehicle that has "no risk" of needing repairs that could be covered by a warranty.

Also, you can't empirically quantify risk.

Schrodinger's cat.

Interesting discussion
You can estimate risks based on few factors
-mileage. How much you drive
Vehicle model historical problems
Driving style
Maintenance
Etc
That would be the mechanical risk
Now you have the financial risk:
If a $10k repair would force you to either not fix the car, default on your mortgage or any other serious issues, by all means get coverage
Otherwise, you self insure yourself

 

[KingKona]

Interesting discussion
You can estimate risks based on few factors
-mileage. How much you drive
Vehicle model historical problems
Driving style
Maintenance
Etc

That's an estimate. You also can't quantify the risk from tolerance stacking, manufacturing tolerances, and random issues.

Plus, each person can only estimate your above for themselves. The OP has to look at his own situation, which includes the possibility that getting someone other than a Ford dealership to work on his car in the UK might be a bit of a crap-shoot.

 

[luc]

That's an estimate. You also can't quantify the risk from tolerance stacking, manufacturing tolerances, and random issues.

Plus, each person can only estimate your above for themselves. The OP has to look at his own situation, which includes the possibility that getting someone other than a Ford dealership to work on his car in the UK might be a bit of a crap-shoot.

Agree, those are personal decisions

 

[White Stallion 11]

Only you know your financial situation and tolerance to risk
For me insurance is only to cover a financial risk that i will not be able to afford.
Home, health insurance come to mind
A potentially expensive repair? Nope, it’s a very manageable risk for me and i have been financially way ahead of the game by using this formula

Agreed, should one have the liquid assets on hand to mitigate the risk. If not, the warranty is well worth it.

RJ

 

[AZlb5.0]

Looks t it this way. If you’re paying let’s say $500 American dollars a month does that outweigh having to replace an engine transmission electrical system and so on. To me that’s a yes especially being your daily. If you’re telling me that you drive the car 2-4K miles a year then I would say it is probably not worth it. Why because it’s not your daily you have other cars you can use in the mean time and you’re not driving it enough to break something as important as the fore mentioned.

 

[KeyLime]

A wrinkle in the decision is how familiar mechanics in the UK are with a Mustang. If it takes forever to diagnose an issue or a lot of throwing parts at the problem, it makes an extended warranty more attractive. Let the dealer/mechanic learn how to fix a Mustang on the warranty's money rather than yours.

If there are dealers or independent mechanics that are Mustang wise then there is less risk to you.

 

[KeyLime]

An unrelated comment. I think it's really great that there's interest in the UK, and also Australia, for the Mustang. I grew up when Triumphs, MG's and Austin Healeys were popular sports cars in the US. They weren't muscle cars, but they were a hoot to drive and looked cool.

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