Used specialty’s car - Ext factory warranty or self-insure?

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OnFire
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Used specialty’s car - Ext factory warranty or self-insure?

Post by OnFire »

I’ve decided to buy a 2011 Ford Raptor. I found a local one,which has some aftermarket parts, which I like, with 109k miles, for $26.5k. I found one four hours away, almost completely Stock, with 53k miles for $35k. It’s eligibke for a Ford factory Extended Service Plan, bumper to bumper, if it passes a Pre-purchase inspection, for 5 years and 60k miles for roughly $2500.

I like the local one better because of the color, wheels, and aftermarket parts. The other one because I think these have the potential to be collectors cars, and lower miles always goes over much better with cars like that. I would also enjoy the peace of mind of only a $100 deductible for the five years. Especially since my Porsche blew up its engine at a cost of $8k, and my Acadia has needed roughly $6k in warranty work that an extended factory warranty took care of. On the other hand, there are roughly 12 thousand reasons to get the high mileage one.

Suggestions form the smartest financial population I have come across?

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midareff
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Re: Used specialty’s car - Ext factory warranty or self-insure?

Post by midareff »

Just one man's opinion here although I spent my life in the fleet and fleet maintenance business. Always been a bit of a motorhead and have had some interesting cars along the way to 70 y/o. Currently driving a Mercedes C350 that has been so nice I hate to give it up after 5 years but I have a bad axs AMG C63S on order and can't keep both. If I can get an extended warranty on the AMG I will keep it past the warranty, if it has been perfect I will keep it a year past. I've had two Porsches bought new, both needed the dealer every 6 to 8 weeks for their life. Neither was a keeper past the warranty expiration. While I had and auto-crossed the second a fellow was also auto-crossing one, brought in by trailer and very rarely street driven. Just short of four years old he traded it for a GT3 as it had about 2K miles on it.. all as rough as it gets. I could go on but the bottom line for me.... wheels can be changed as can tires, an extended warranty can be worth it's weight in gold. I'd go the lower miles car and the warranty then change whatever you want.
Just my 2 cents YMMV.
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OnFire
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Re: Used specialty’s car - Ext factory warranty or self-insure?

Post by OnFire »

Thanks. midareff. I’ve been going both ways with this. The problem is that this thing is so computer and electronic heavy. You can’t change into 4x4 without a computer screen coming up on the dash telling you to slow down to 3mph , then transfer to neutral, and then another message pops up to tell you you are in 4x4 mode. I can only imagine what it would cost to have a computer or a 4x4 module go out.

I will continue to do some more research and info gathering.
Where are all the customers yachts? | | “The most powerful force in the Universe is compound interest.” -Albert Einstein
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eye.surgeon
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Re: Used specialty’s car - Ext factory warranty or self-insure?

Post by eye.surgeon »

Get the one with lower miles. I would not recommend buying a used car with over 100k miles, leave that to financially stressed buyers. There's cheap to buy and then there's cost of ownership. 2 different things. Also I love Raptors but they won't ever be collector cars if you're meaning that in the sense that they will appreciate in value, it may be rare in comparison to other trim levels of F150s but they sell over half a million F150s a year, even the less common trims like Raptors are not at all rare.
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bubbadog
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Re: Used specialty’s car - Ext factory warranty or self-insure?

Post by bubbadog »

I would mentally remove the potential "collector car" status of the vehicle from your decision process. No-one really has any idea what these will be worth 10-30 years down the road. Buy whichever one meets your current needs/preferences. Any further appreciation, if any, is just a bonus. :sharebeer
runner3081
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Re: Used specialty’s car - Ext factory warranty or self-insure?

Post by runner3081 »

eye.surgeon wrote: Sun Jan 21, 2018 2:16 am Get the one with lower miles. I would not recommend buying a used car with over 100k miles, leave that to financially stressed buyers. There's cheap to buy and then there's cost of ownership.
Especially one that had been modified and likely driven hard.
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