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Advice on extended insurance coverage......

This is a discussion on Advice on extended insurance coverage...... within the Mustang GT350 General Discussions forums, part of the Mustang GT350 Forum category; Just picked up my 2019 GT350 in performance blue (pics to follow). I ended up getting the tire/wheel package, given the crappy roads where I ...

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Thread: Advice on extended insurance coverage......

  1. #1
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    Advice on extended insurance coverage......

    Just picked up my 2019 GT350 in performance blue (pics to follow). I ended up getting the tire/wheel package, given the crappy roads where I live coupled with the cost of the Michelin Pilot cup sport 2 tires. I got them to do it for $668 for 5 year coverage, which I figured wasn't bad-- it was a couple of hundred less than advertised.
    However, I didn't pull the trigger on the extended warranty, even though I got them to agree to 7 years/75K miles for about $2100 (over $1000 less than the listed price).

    My recent history has been turning over cars every 2-3 years, but I THINK the Shelby will be a keeper, even if I get a 2nd fun car............. I think I'll know if it's a keeper in the first 3-6 months. My thought is that the future will be filled with more hybrid/turbo, and eventually, electrical car options, making those of us with NA V8 sports cars, anomalies.

    Few questions for the board:
    1. Is the warranty worth getting in the even I sell the car early? How much does it truly add to private party resale in 3 years if someone knows they have bumper to bumper coverage (which is what Ford claims) for another 4 years beyond the factory warranty?
    2. Are there better options for another 3rd party warranty if I go that route?
    3. Has anyone got a decent prorated amount back if they sold/traded the car early on an extended warranty?
    4. I told the guy I would decide in a week or so if I decided to purchase the warranty. How much time realistically do I have to make the decision and still get that kind of deal before it's too late (in terms of miles on the car)?

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    I too, would like to know more about this. Subbed to the thread!

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    Junior Member SilverSerpent's Avatar
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    Would also like to know more about this in general. I've got a '17 w/ 1500 miles on the way (if the damn dealer would ever mail the paperwork), original owner purchased in Jan '18 I think so it would have 2 years left on the bumper-to-bumper?

    Not sure what to do about the PremiumCARE stuff. I'm going to daily the thing + a couple HPDE events per year.

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    Junior Member RJay's Avatar
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    Quote Originally Posted by SilverSerpent View Post
    Would also like to know more about this in general. I've got a '17 w/ 1500 miles on the way (if the damn dealer would ever mail the paperwork), original owner purchased in Jan '18 I think so it would have 2 years left on the bumper-to-bumper?

    Not sure what to do about the PremiumCARE stuff. I'm going to daily the thing + a couple HPDE events per year.
    If the original owner took delivery in Jan 2018, I would say you only have about 19 months of bumper-to-bumper left. You'll probably never break the 36K, you'll hit the time limit first.

    You get 5 years/60K on the powertrain, and 8 years/80K on emissions (Federally).

    I added a Ford Extended Warranty just as I was hitting 60K on my '14 GT. I got 4 years/60K of bumper-to-bumper for $3500 - basically four years of worry-free driving.

    Shortly after I bought it, the dreaded CEL came on. Went to the dealer = loss of compression. Lots of tests later they determined I had two bad exhaust valves.

    They put on a new cylinder head, replaced a leaking water pump that I hadn't noticed, and repaired the OAT sensor. My cost? $100 deductible.

    My service manager said the repair order they sent to the warranty company was nearly $5000.

    I have already purchased an extended warranty for my new ride through my credit union for $1588 - 5 years/100K.

    Food for thought.
    2019 GT350 - Here Soon!
    2014 Mustang GT - It's Been Great!
    1965 Mustang Fastback - Wish I Still Had It!

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    Quote Originally Posted by bruin1md View Post
    Just picked up my 2019 GT350 in performance blue (pics to follow). I ended up getting the tire/wheel package, given the crappy roads where I live coupled with the cost of the Michelin Pilot cup sport 2 tires. I got them to do it for $668 for 5 year coverage, which I figured wasn't bad-- it was a couple of hundred less than advertised.
    However, I didn't pull the trigger on the extended warranty, even though I got them to agree to 7 years/75K miles for about $2100 (over $1000 less than the listed price).

    My recent history has been turning over cars every 2-3 years, but I THINK the Shelby will be a keeper, even if I get a 2nd fun car............. I think I'll know if it's a keeper in the first 3-6 months. My thought is that the future will be filled with more hybrid/turbo, and eventually, electrical car options, making those of us with NA V8 sports cars, anomalies.

    Few questions for the board:
    1. Is the warranty worth getting in the even I sell the car early? How much does it truly add to private party resale in 3 years if someone knows they have bumper to bumper coverage (which is what Ford claims) for another 4 years beyond the factory warranty?
    2. Are there better options for another 3rd party warranty if I go that route?
    3. Has anyone got a decent prorated amount back if they sold/traded the car early on an extended warranty?
    4. I told the guy I would decide in a week or so if I decided to purchase the warranty. How much time realistically do I have to make the decision and still get that kind of deal before it's too late (in terms of miles on the car)?
    Was that 70 thou a Ford warranty?

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    Quote Originally Posted by jabberwoki View Post
    Was that 70 thou a Ford warranty?
    Yes-- extended warranty purchased from the dealer

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    Got a Premium Care 8 years 60K miles with lighting coverage and $100 ded. As i recall the list was $1835 - I paid $1030.

    Bought the car in Brentwood CA. Got the Ford contract from James Ford in Half Moon Bay CA.

    Shop around the deals are out there. I went 8 years I'll never hit 60K miles as I'm driving 2K to 3K per year.

    When I sold my 2013 GT in 2017 I got $560 back which was about 80% of the purchase price. Had 30K miles on the car and it was 4 years old.
    Last edited by hobbie1; 05-27-2019 at 01:17 AM.
    2017 Shelby GT 350
    1966 Mustang Coupe 5 Speed / Ford Racing 306 / Total Control Coil Over and power Rack / IDIDIT Col / T 5
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    You gotta ask yourself, "Do you feel lucky?"

    Insurance/extended warranties are offered to MAKE MONEY.

    They don't love you; they want your damn money.

    The business model for insurance, and similarly for extended warranties, is:

    return on assets + premiums = claims + admin + profit

    SO . . . if you have AVERAGE claims, you will also be paying their admin and profit. You lose.

    Again, are you lucky? If things go well for you, don't get it.

    My 350's warranty runs out this fall. I priced extended warranty on drive train, and I was shocked how high it is. Basically, I'd pay for a new engine in 4 years IF I HAD NO PROBLEMS. The only way for me to win is not buy the added coverage. If you buy the extended coverage, you lose anyway.

    If you tend to have bad luck, get it.
    G1197

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    Quote Originally Posted by Gamecock View Post
    You gotta ask yourself, "Do you feel lucky?"

    Insurance/extended warranties are offered to MAKE MONEY.

    They don't love you; they want your damn money.

    The business model for insurance, and similarly for extended warranties, is:

    return on assets + premiums = claims + admin + profit

    SO . . . if you have AVERAGE claims, you will also be paying their admin and profit. You lose.

    Again, are you lucky? If things go well for you, don't get it.

    My 350's warranty runs out this fall. I priced extended warranty on drive train, and I was shocked how high it is. Basically, I'd pay for a new engine in 4 years IF I HAD NO PROBLEMS. The only way for me to win is not buy the added coverage. If you buy the extended coverage, you lose anyway.

    If you tend to have bad luck, get it.
    I noticed you are in SC. I am in Augusta, GA. Did you price yours at a local dealer? Engine swaps on these run about $20K so are you saying the insurance was quoted at basically $5000 a year? Was that for bumper to bumper or just powertrain? I'm curious as I'll be in your position in about a year and a half.

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    Member fpGT350's Avatar
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    Purchased my 2018 new and paid dealer $2,120 to extend the factory warranty to 6 years/48,000 miles. $100 deductible.

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