DoctorCAD says:
When my tranny crapped out at month 35 of a 36 month extended warranty, I was really happy to have spent the extra money.
I guess I am going to be the naysayer.
Yes, I'd be really happy I had an extended warranty in that situation.
But I'd be really SAD that I purchased a vehicle that had a tranny problem in its first few years of life...an all too likely occurence on the older Explorers, IMHO.
Trannies going are the #1 reason quoted here and on most any car forum for that matter as given by those in favor of having an extended warranty. Almost as if it has become the norm that a tranny should go well under 5 years of car ownership - - - Hint folks: They should not. We should expect more. We should demand more.
For me, I don't buy extendend warranties unless they are manufacturer's warranties and are almost GIVEN away.
If I have to spend close to a couple of extra thousand, or more, to get my new vehicle's coverage extended to 5 years (for example) so that I can "sleep at night", knowing that I won't have any costly repairs until well after the vehicle is paid for and "old", well, then, frankly, I probably purchased the wrong vehicle from the wrong manufacturer.
I'm really thinking car ownership sucks. For me, the love affair is over. Probably in no small part due to the recession and the fact that I have the "3 year blues" (our new cars are 3+ years old...kinda like the 7 year itch), and I know there is no new car in our future soon. Ha. Seriously, though, I think the next few new cars for us, will be 1 to 2 year old used cars with some factory warranty left, that we will keep for a few years, then unload...ride the "sweet spot" of the depreciation if you will. In that way, I won't worry about an extended warranty, or having a car too long.
TJR