Ford financing nightmare?

[generaltso]

So has anyone actually gotten a good deal using the Ford options plan?

Sure. I used X-plan for a bit of a discount and went with Options to get an additional $2500 incentive. It was cheaper than paying cash.

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[RickMachE]

I have to disagree about the extended warranties. They are are good thing to have if you plan on keeping your car past the 3/36 warranty. They have saved a lot of people from major expenses. I do agree with you though about the $5k price. That's waaaay overpriced.

Actually, extended warranties are a poor purchase from a financial perspective. The house, i.e. Ford Motor Company, always wins, just like at a casino.

People should buy extended warranties if they cannot afford the potential repair bill for their vehicles once warranties expire. Of course one has to question buying a $60,000 vehicle if you can't afford the repairs, or lack the discipline to budget for them.

In addition to the 3/36 warranty, this vehicle has other warranties, including 8 years or 100,000 miles on the electric vehicle component coverage.

People often cite the expensive electronics as reason to buy an extended warranty, but never cite numbers as to failure rates...

If one is considering an extended warranty, despite it being a bad financial decision:

- only buy from a Ford online dealer that sells them heavily discounted like Flood Ford or Zeigler Ford.

- Don't buy the extended warranty until close to the expiration of 3/36. Yes, after 12 months / 12,000 miles it will cost you $100 more. But you won't buy and then sell the vehicle in the first 3 years and have wasted money (the only benefit within 3/36 on the extended warranty is a free loaner, if you buy the coverage, or a replacement key, if you buy that coverage. In fact, you can buy after 3/36 as long as it's before 41/41,000, for a very small additional increase.

- A huge number of people never read their extended warranty information. Millions of dollars are left on the table by people that trade or sell their vehicle, and don't seek a prorated rebate on the unused extended warranty. To lazy to read the warranty they spent $1,000 or more to buy. Quite amazing.

 

[Motomax]

Actually, extended warranties are a poor purchase from a financial perspective. The house, i.e. Ford Motor Company, always wins, just like at a casino.

People should buy extended warranties if they cannot afford the potential repair bill for their vehicles once warranties expire. Of course one has to question buying a $60,000 vehicle if you can't afford the repairs, or lack the discipline to budget for them.

I usually tell people the exact same thing. Although, I did convince myself to buy one on my other vehicle. It has 8kmiles and is already out of warranty. $130/year for 10 years was pretty negligible and saves me from getting pissed at a failure that should have been under warranty lol.
In all honesty, if you can afford the car, you can afford the repair, you can also afford the warranty if it makes you feel better. I mean people are spending exponentially more on ADMs and getting nothing from it lol.
Just open a new credit card with a bonus and save yourself an extra few hundred off the price ?.

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