Another blown engine thread

[Booboo]

Sorry im in CA now - forgot to update location.

Galpin?

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[460Fred]

Galpin?

That‘s exactly where I thought.

 

[SmokinAces]

Anywhere but Worthington Ford. Sorry to hear about your predicament.

 

[09cs]

Sorry im in CA now - forgot to update location.

Which Dealer?

Galpin?

That‘s exactly where I thought.

I'm with you guys, that was my first thought as well. OP, also look into Ford of Upland. The owner is a big GT350 guy and racer. Does a lot of warranty work on these cars/engine replacements too

 

[RocketGuy3]

Never, ever buy warranties (or insurance, for that matter) unless the repairs/events that you're insuring yourself against would be financially devastating, or you're just a really anxious person who needs the peace of mind.

No one is ever going to sell you a policy that is actually a wise investment for you. If they did, these companies would be dead broke, but they're rolling in dough. The expected value to you for any warranty or insurance policy is ALWAYS negative, and usually significantly so.

And on that note, if the potential worst case repairs ARE financially devastating, and you think there's any reasonable chance of those repairs being necessary, you probably shouldn't be buying the car in the first place. Especially when we're talking about luxury performance toys.

 

[Nick@VaBeach]

Sorry to hear about this, I'm going through a lengthy repair process too. Originally, the dealer said "engine replacement" but now they're checking a bunch of other things. I got an ESP from Zurich as additional "comprehensive" coverage for when the bumper-to-bumper expires in a few months. I suspect if I ever tried to claim an engine they would deny it too, but my contract has the VIN and GT350, so we'll see if it ever comes to that... I know people hate the ESPs, but with all the expensive shit in cars these days, including electrical shit I can't fix, I figure one A/C compressor will make the ESP worthwhile.

 

[Inthehighdesert]

Ignore this.

Never, ever buy warranties (or insurance, for that matter) unless the repairs/events that you're insuring yourself against would be financially devastating, or you're just a really anxious person who needs the peace of mind.

No one is ever going to sell you a policy that is actually a wise investment for you. If they did, these companies would be dead broke, but they're rolling in dough. The expected value to you for any warranty or insurance policy is ALWAYS negative, and usually significantly so.

And on that note, if the potential worst case repairs ARE financially devastating, and you think there's any reasonable chance of those repairs being necessary, you probably shouldn't be buying the car in the first place. Especially when we're talking about luxury performance toys.

 

[Hack]

Never, ever buy warranties (or insurance, for that matter) unless the repairs/events that you're insuring yourself against would be financially devastating, or you're just a really anxious person who needs the peace of mind.

No one is ever going to sell you a policy that is actually a wise investment for you. If they did, these companies would be dead broke, but they're rolling in dough. The expected value to you for any warranty or insurance policy is ALWAYS negative, and usually significantly so.

And on that note, if the potential worst case repairs ARE financially devastating, and you think there's any reasonable chance of those repairs being necessary, you probably shouldn't be buying the car in the first place. Especially when we're talking about luxury performance toys.

I can't argue with your logic. I think you are 100% right.

 

[jmn444]

Never, ever buy warranties (or insurance, for that matter) unless the repairs/events that you're insuring yourself against would be financially devastating, or you're just a really anxious person who needs the peace of mind.

No one is ever going to sell you a policy that is actually a wise investment for you. If they did, these companies would be dead broke, but they're rolling in dough. The expected value to you for any warranty or insurance policy is ALWAYS negative, and usually significantly so.

And on that note, if the potential worst case repairs ARE financially devastating, and you think there's any reasonable chance of those repairs being necessary, you probably shouldn't be buying the car in the first place. Especially when we're talking about luxury performance toys.

I dunno, I'm pretty confident that I'll get a new motor out of my extended warranty before it's all said and done haha

 

[RocketGuy3]

I dunno, I'm pretty confident that I'll get a new motor out of my extended warranty before it's all said and done haha

You might, and even if not for the legal headaches, it can sometimes turn out for the best for the buyer with a bit of the right [bad] luck. And even if not, the peace of mind it brings has some monetary But I think as a generalization, my point stands true.

Ignore this.

Alright, Mr. Hill, care to elaborate?

I did forget to add one more exception to that list, though: you took out a loan and the lienholder requires certain insurance coverage.

... and obviously liability and/or umbrella insurance is still both required and valuable to most people. You can create a lot of very expensive damage if you cause a wreck. Very few people can afford to pay that kinda thing out of pocket without reeling.

I just felt like getting on my soapbox, but my post was most applicable to extended warranties.

 

[jmn444]

You might, and even if not for the legal headaches, it can sometimes turn out for the best for the buyer with a bit of the right [bad] luck. And even if not, the peace of mind it brings has some monetary But I think as a generalization, my point stands true.

Yeah, this car is honestly the only one I've ever felt the warranty was a good idea. So in general we are in agreement, but since it's a gt350 thread, I think it's money well spent, ESPECIALLY if one is using the car as it was intended to be used!

 

[RocketGuy3]

Yeah, this car is honestly the only one I've ever felt the warranty was a good idea. So in general we are in agreement, but since it's a gt350 thread, I think it's money well spent, ESPECIALLY if one is using the car as it was intended to be used!

I was assuming that most warranty companies would take the car model (including known issues and cost of repairs) into account before pricing your premium. Maybe there's some models (possibly including the GT350) where the math works in your favor... but then I feel like you're more likely to end up in a situation like the OP's, heh. I feel like I've heard a lot of similar horror stories about third party warranties.

 

[Hack]

What I found is that since I used my GT350 as a car and drove it over 10,000 miles per year the extended warranty prices were really high. Higher than I was interested in paying. But I didn't even consider buying an extended warranty when I originally purchased the car. At that time the warranties were somewhat cheaper. My logic was the same as RocketGuy3. Extended warranties are usually not a good deal.

So after a couple years of ownership when I started considering an extended warranty the prices for coverage had skyrocketed due to the number of claims.

 

[IPOGT]

Yeah, this car is honestly the only one I've ever felt the warranty was a good idea. So in general we are in agreement, but since it's a gt350 thread, I think it's money well spent, ESPECIALLY if one is using the car as it was intended to be used!

If it were REALLY designed to be used the way you think, why would the engines blow up as often as they do? Someone missed something somewhere. Either marketing set over expectation or under designed. PS- Love the GT350 but I’ve never seen anything like this on any other. Really disappointing since I like them so much. Sorry for those who have to deal with it.

 

[jmn444]

I was assuming that most warranty companies would take the car model (including known issues and cost of repairs) into account before pricing your premium. Maybe there's some models (possibly including the GT350) where the math works in your favor... but then I feel like you're more likely to end up in a situation like the OP's, heh. I feel like I've heard a lot of similar horror stories about third party warranties.

agree on 3rd party warranties too, mine is thru ford. It’s def pricey, but there are enough known issues that I’m confident it’s worth it. I’ll come back in 5 years if I remember and list what things they fixed

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