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Old 07-18-2014, 02:36 AM   #36
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I purchased mine car in March do you think its too late for a refund? Right now my car has 6000 miles on it so technically i havent even reached the point where i used any of the extended warranty because extended warranty will kick in after 36000 miles.
U can cancel the extended warranty & get a prorated amount back! Even tho technically your warranty hasn't "kicked in" they will prorate the time that has passed. That's what I did when I traded in my old 3.7!
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Old 07-18-2014, 02:39 AM   #37
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Well i plan on getting it once i get near 36000 miles but as of right now i feel like i have been overcharged by paying 2500 to add another 34000 miles to the warranty because the people that posted on here have gotten it for much less.
If you plan on getting it down the road before u cancel it look into how much it'll cost you to get it later I hear it's a lot more expensive if you add it on down the road!
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Old 07-18-2014, 03:45 AM   #38
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Originally Posted by badka2ma View Post
Look at the extended warranty like health insurance for your car. You don't always need it but when you do your glad you have it. It's a gamble like any other insurance policy.

With the cost of an engine, transmission, computer, sound system, and labor etc. etc. I'm ok with spending the bucks. I'm covered for 7/125,000. It costs me $35 a month in the payment. That's about what I pay for my gym membership, if I take my wife out to a reasonable restaurant we pay more than that for one meal, I can deal with it for the peace of mind. Honestly, I hope I never use it.
If you financed the extended warranty, then you are paying even more for the policy. Interest charges over the length of the loan add up. If you got for example a 3% interest loan, then that warranty you purchased and financed into the loan is accruing 3% interest.
I'd recommend not including it in the loan; when you go to trade the vehicle in, the dealer you work with is going to see that there is a warranty cost built in to the amount you owe, and you won't get that part on trade, as most non factory warrantys are not transferable unless a fee is paid. Simply put, if you paid $10,000.00 for a car, paid $1,000.00 for an extended warranty, and financed the whole amount, you borrowed $11,000.00. When you go to trade the car in, you may have a $5,000.00 balance but at best, the dealer may give you the vehicle's worth in the payoff of $4,000.00. It's stuff like this that has the used car salesperson and the manager sitting in an office for several minutes when you are trying to work a trade in deal.

Just a heads up for folks who buy these. Nothing wrong with them if you like the "insurance" they provide, but they can cost you more down the road.
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Old 07-18-2014, 06:42 PM   #39
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The 35 I quoted is with interest figured in. When you trade a car they don't look at anything in the loan, they look the value of the vehicle.itself using the black book at rough condition. I was in the business.
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Old 07-18-2014, 07:03 PM   #40
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Now this thread makes me even more sad!
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Old 07-18-2014, 07:06 PM   #41
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Originally Posted by Oh2freshstang View Post
U can cancel the extended warranty & get a prorated amount back! Even tho technically your warranty hasn't "kicked in" they will prorate the time that has passed. That's what I did when I traded in my old 3.7!
Can i Cancel my Extended warranty now? It's been 4 months and slowly I have realized what a waste of 2000 that was! + I took some other package as well!! Just ridiculous!!!
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Old 07-18-2014, 10:10 PM   #42
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Can i Cancel my Extended warranty now? It's been 4 months and slowly I have realized what a waste of 2000 that was! + I took some other package as well!! Just ridiculous!!!
Yup u can cancel it at anytime just talk to the finance dep. at your dealer. You should either get a refund or if you have a loan it will go straight off your loan!
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Old 07-19-2014, 08:30 AM   #43
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Also you need to read the fine print on any Extended Warranty, Magnuson Moss only covers the Manufacturers Warranty, not an aftermarket and it can be voided for just about anything. I went through it with Ford's ESP on my F150 on a rear end and lower ball joints. The Dealership went to bat for me and I ended up winning but they cancelled the warranty right after since the Vehicle was Modified
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Old 07-23-2014, 06:39 AM   #44
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Paid $950 for 100k bumper to bumper on my '14. 30k+ miles now and looking back, I probably wouldn't have gotten it and used that money towards mods
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Old 07-23-2014, 04:22 PM   #45
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Quote:
Originally Posted by Oh2freshstang View Post
U can cancel the extended warranty & get a prorated amount back! Even tho technically your warranty hasn't "kicked in" they will prorate the time that has passed. That's what I did when I traded in my old 3.7!
UPDATE!!!!!!!!!!!

I called ford EPS and they said no problem to refund. I paid 2500 for it and since i have 6000 miles on my car they said they would refund 2200 so i lost about $300 .

I told them the warranty up to 36k is free i have 6k miles why am i being charged even though my "extended" warranty hasnt even kicked in. He said that the extended warranty offers free rentals and towing and those services start right away.

I said ok and sent in my cancellation letter. I will update once they actually cancel it and send a check to my bank.
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Old 07-23-2014, 05:55 PM   #46
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I finally got my extended warranty revoked! the dealer was so pissed tried every trick in the book to convince me to keep it! I too felt ripped by my dealer! though i had paid 1800 USD for 5 year/5000 miles
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Old 07-23-2014, 10:31 PM   #47
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I got my warranty extended, but I did it through my credit union. 3/36 > 5/100K It cost me $800. I drive 20K miles a year, so it's going to be well worth it.
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Old 07-24-2014, 09:51 AM   #48
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Originally Posted by Oh2freshstang View Post
Yup u can cancel it at anytime just talk to the finance dep. at your dealer. You should either get a refund or if you have a loan it will go straight off your loan!
BTW Thank you Oh2frshstang
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Old 07-24-2014, 12:30 PM   #49
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UPDATE!!!!!!!!!!! I called ford EPS and they said no problem to refund. I paid 2500 for it and since i have 6000 miles on my car they said they would refund 2200 so i lost about $300 . I told them the warranty up to 36k is free i have 6k miles why am i being charged even though my "extended" warranty hasnt even kicked in. He said that the extended warranty offers free rentals and towing and those services start right away. I said ok and sent in my cancellation letter. I will update once they actually cancel it and send a check to my bank.
Awesome!
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Old 07-24-2014, 12:31 PM   #50
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BTW Thank you Oh2frshstang
NP bud glad I could help!
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Old 07-25-2014, 09:04 PM   #51
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Old 07-25-2014, 09:46 PM   #52
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Bought mine used and after 30k plus additional miles no issue and no warranty needed.


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Old 07-26-2014, 06:45 PM   #53
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If extended warranties were such a good deal for the customer why would they even sell them? Basic math folks.
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