Is another 5 years and 48k miles of warranty worth the nearly 5K?

[cocopanda]

I have only driven 66K miles on my current 100K/6year warranty. So the warranty is up at the end of August. And the California dealership I bought from is offering a ultra service plan for another 4 or 5 years that only covers an additional 48k miles from when my current plan ends. So at most up to 110K miles or 5 years can get more coverage.

I have only had a few issues that I took care of a long time ago. But I am worried about the A10 giving out. There are no driving issues now but occasionally I get a hard shift when on an incline. That's the only time I have an issue. But do you think this plan is worth the coverage? Its not up to 200K miles that I had hoped. So do you think this additional 48k miles of warranty is worth the 4800$? I'm currently still looking for full employment work. I have a poorly paying full time job. But 4800$ would be a big investment for me. I just don't know if I really should spend the money right now.

Any thoughts would be appreciated.

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[Mach VII]

Read this thread - https://www.mustang6g.com/forums/th...rs-before-it-is-too-late-granger-ford.204414/

Many here have bought extended warranty from Granger, me included. Put your values in and see how it compares to your current offer...

 

[cocopanda]

Read this thread - https://www.mustang6g.com/forums/th...rs-before-it-is-too-late-granger-ford.204414/

Many here have bought extended warranty from Granger, me included. Put your values in and see how it compares to your current offer...

I don't think Granger is available in California. But thank you.

 

[Mach VII]

I don't think Granger is available in California. But thank you.

Didn't realize CA was in the same boat as FL in this regard....

 

[Corporate_Rebel]

I would put the 5k into a CD, and that should cover a tranny when and IF it actually goes. Worst case you make 6% until it does.

 

[S550HPP]

Consider buying EC stock collect 25%+ divs and use when needed otherwise let it compound for new toy contribution. NOT investment advice do own Due Dilligence.

 

[Skye]

Due to state licensing requirements, Granger cannot write in CA or FL.

I haven't priced a replacement transmission, but $4500 gets one a lot of the way there.

Given the variables, I'd pass on any significant purchases for now. While there's a slight chance the A10 could give out, there's a 100% chance you're in a poor-paying job and looking for another gig.

While known expenses are somewhat easy to plan around, unknowns are not. This month, the A10 is an interest. Next month, it might be something else. Having anything at all laying around gives one options. Committing money to the extended warranty reduces the possible outcomes to 1.

For now, whatever you can put away each month or each paycheck, stash that in a simple savings or money market account. A US dollar-based money market account at one of the large investment firms will pay some of the best interest, while being virtually risk free. The funds will remain very liquid and easily accessible.

If you currently have a Rainy Day fund, great. Just keep adding to that. If you don't have one, see this as a time to start. Don't worry so much about amounts or timelines. Just get started. You can make adjustments along the way.

A common goal is to have six months of expenses in cash. From my personal experience, I think a year to two would be better. There are the expenses you know are coming and there's money for that. The rest is for the stuff that hits you didn't anticipate.

 

[GTP]

1. Start researching now for a dealership that has a good reputation for their Ford service.
2. Establish a good rapport with that service manager. (Not the service advisor and no, donuts are not appropriate.) Explain that your trans acts up intermittently.
3. Ask for a rebuild with all the latest TSB's implemented before your ESP expires.

This is the agreement I've made with my service manager. He is 40 minutes drive from me. His techs are first rate.
I refuse to let the dealership that is 1.5 miles from me touch my car, unless it is something like a battery replacement under warranty. Their techs can't even replace plastic rivets properly.

 

[cocopanda]

Due to state licensing requirements, Granger cannot write in CA or FL.

I haven't priced a replacement transmission, but $4500 gets one a lot of the way there.

Given the variables, I'd pass on any significant purchases for now. While there's a slight chance the A10 could give out, there's a 100% chance you're in a poor-paying job and looking for another gig.

While known expenses are somewhat easy to plan around, unknowns are not. This month, the A10 is an interest. Next month, it might be something else. Having anything at all laying around gives one options. Committing money to the extended warranty reduces the possible outcomes to 1.

For now, whatever you can put away each month or each paycheck, stash that in a simple savings or money market account. A US dollar-based money market account at one of the large investment firms will pay some of the best interest, while being virtually risk free. The funds will remain very liquid and easily accessible.

If you currently have a Rainy Day fund, great. Just keep adding to that. If you don't have one, see this as a time to start. Don't worry so much about amounts or timelines. Just get started. You can make adjustments along the way.

A common goal is to have six months of expenses in cash. From my personal experience, I think a year to two would be better. There are the expenses you know are coming and there's money for that. The rest is for the stuff that hits you didn't anticipate.

This is all great info. I heard back for a second round of interviews with a company that is offering more money than I ever made before. But Until I get the job. I'm not going to consider it a sure thing. So I have about 2 years of expenses in my rainy day fund. And the cars going to be paid off in 3 more payments. So unless I get hired by the end of August. I'm going to have to pass on the warranty. And just try and invest the 5K into something like you said.

I don't have to touch my 401k's. But they are finally doing very well. I have just as much in my bank right now. As I do in my 401k's. So that's my back up if I can't find a good paying job by 2 years from now.

 

[cocopanda]

1. Start researching now for a dealership that has a good reputation for their Ford service.
2. Establish a good rapport with that service manager. (Not the service advisor and no, donuts are not appropriate.) Explain that your trans acts up intermittently.
3. Ask for a rebuild with all the latest TSB's implemented before your ESP expires.

This is the agreement I've made with my service manager. He is 40 minutes drive from me. His techs are first rate.
I refuse to let the dealership that is 1.5 miles from me touch my car, unless it is something like a battery replacement under warranty. Their techs can't even replace plastic rivets properly.

My local ford store finally has a master transmission tech. So I don't have to go too far away. But I guess I should try one more time for them to take a look at the transmission. I couldn't get it to replicate the hard shifting when I was on the steep hill the other day. So it's going to be rough trying to prove there's a hard shift when just gliding into 3rd gear on a steep road.

Thank you for this info. I'll see if I can get them to do this before the end of the month for me.

 

[ralph7]

I would put the 5k into a CD, and that should cover a tranny when and IF it actually goes. Worst case you make 6% until it does.

Please tell me whose CD brings 6%.

 

[Fordphanatic]

Personally I would invest the money . It sounds like you have your finances figured out for not having a great job as you say. If the trans goes out after warranty expires you have the money to fix. If the trans does Not go..you still have your money and you didn't spend it on a warranty you didn't need.

 

[Corporate_Rebel]

Please tell me whose CD brings 6%.

https://fpcu.org/money-saving-rates/certificate-ira-rates

Max deposit is 5k and for new members only. Hope this saves somebody some money.
Even my checking account at my local CU is 5% return currently. With a little looking there are quite high risk free returns.

 

[ralph7]

Have to be a California resident as well.
Between that and the 5k max, I’m out but thanx anyway.

 

[Corporate_Rebel]

Have to be a California resident as well.
Between that and the 5k max, I’m out but thanx anyway.

Ah didn't realize they varied that much nationally. I just checked the Dow Credit Union, figuring it would be the same in TX as MI, and the high yield checking is only 3% there VS 5% here.

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