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  #21  
Old 02-25-2014, 01:16 PM
FarmTruck FarmTruck is offline
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Quote:
Originally Posted by BigRedRam1500 View Post
... IMO I would think as long as I am the owner, and that being the case if its 15 years old and needs a new transmission then I would be covered. However I have yet to read anything like that...
With repair costs ever on the rise I would suspect when the truck is close to 10 years old (5 years over std powertrain warranty) you would hit the point where the transmission labour and parts would exceed the NADA value.
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  #22  
Old 02-25-2014, 01:39 PM
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If you take out any thing wear related, accident related, abuse related, and under the deductible how much is covered? Of that how much is stuff that frequently fails?

My truck has what is likely a stuck lifter. Based on the dealer repair estimates and the NADA value if I had this coverage the repair would not be covered. If I had not purchase the coverage I would had additional funds to pay for alternate repair options like a used engine swap, repairing it myself, or funding a replacement.

When I look back at the older vehicles I have had I can not think of a time the coverage would have paid off for me. You seem to need to hope for enough repairs to get your money back but not enough to end the coverage. You also need to keep vehicles a long time but not do your own repairs.
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  #23  
Old 02-25-2014, 04:08 PM
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I've read in more than one place that as a rule, only 1 out of 3 people come out ahead with extended warranties. That's why they sell them, as a rule they are money makers. Of course if you are that one person that comes out ahead, its a great buy.
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  #24  
Old 02-25-2014, 04:33 PM
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The radio in my Sport is $2500+, the LED power & heated mirrors are $700+ EACH, my 6-speed trans is what $4K-$5K-$6K? after the factory warranty runs out, oh and don't forget labor is $140 an hour at the dealer I bought my truck from.

Then there is all the electronics, sensors etc needed to run the truck. Problems with those usually can't even be diagnosed in a DIY garage.


It is a great money maker for dealers but it is also an insurance policy against having to take out a loan to get your truck fixed.
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  #25  
Old 02-25-2014, 08:55 PM
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BigRedRam1500 BigRedRam1500 is offline
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Quote:
Originally Posted by FarmTruck View Post
With repair costs ever on the rise I would suspect when the truck is close to 10 years old (5 years over std powertrain warranty) you would hit the point where the transmission labour and parts would exceed the NADA value.
I cant imagine that a 10 year old truck would be worth less than a transmission swap. Now I know that is also relative to the condition and original MSRP, installed options, etc. of the vehicle as well. My Ram is a Laramie Longhorn 4x4 which I believe should hold its value well.
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  #26  
Old 02-25-2014, 09:27 PM
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Quote:
Originally Posted by BigRedRam1500 View Post
I cant imagine that a 10 year old truck would be worth less than a transmission swap. Now I know that is also relative to the condition and original MSRP, installed options, etc. of the vehicle as well. My Ram is a Laramie Longhorn 4x4 which I believe should hold its value well.
You can get a ruff idea quite quickly. How much mileage did you through on your vehicle(s) last year? Multiply by 10 and lookup a 2004 Laramie on NADA. You can compare selecting a different trim level to see how this impacts pricing with age (at my mileage ~$800).

Then call a dealership and tell them you are looking to pickup an 04 and your looking for a new factory transmission and all recommended related service items with install.

Keep in mind you can get a transmission swap for less or many not need all the recommended work or parts, but that is not what the program is based on.
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  #27  
Old 02-25-2014, 09:43 PM
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Quote:
Originally Posted by DarthRam View Post
The radio in my Sport is $2500+, the LED power & heated mirrors are $700+ EACH, my 6-speed trans is what $4K-$5K-$6K? after the factory warranty runs out, oh and don't forget labor is $140 an hour at the dealer I bought my truck from.

Then there is all the electronics, sensors etc needed to run the truck. Problems with those usually can't even be diagnosed in a DIY garage.


It is a great money maker for dealers but it is also an insurance policy against having to take out a loan to get your truck fixed.
I've not seen factory radios historically retain their value. If more people like the factory units in the current generation that may change but right now 2011 factory Nav radios are $800-$1000. OEM Tow mirrors drop too, with a used 2011 running under $200. These drop as you look at older models, but I chose 2011 as that would be the out of original warranty date and put you in the extended coverage with highest value replacement. You would need a lot of these little items to get back your investment. How often does a tow mirror break in a way that would be warrantied?

The transmission gets back to the other point, as you do need to go with dealership new parts pricing and recommend related repairs, so you have to hope that big ticket repair is not too big.
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  #28  
Old 02-25-2014, 09:55 PM
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If you've had any Chrysler products made in the last 14 years,and haven't had anything break or go wrong that would be covered under the Lifetime Warranty,then you're the luckiest SOB in the world.
The TIPM modules are a known failure,and that alone will run you $1200-1400 to fix. The 3rd and 4th gen Ram's are known for the TIPM failure,as are the Transmissions in these trucks.
I'm a firm believer in buying the Lifetime warranty. Just one tranny failure,and it's more than paid for itself.
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  #29  
Old 02-26-2014, 01:33 PM
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imho, depends on how long you plan to keep your truck.
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  #30  
Old 02-26-2014, 07:16 PM
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So far, I'm one-for-one on extended warranties for vehicles. We bought an extended warranty for my wife's 2010 Chevy Equinox and it's well on it's way for paying for itself. I hope I don't have to use the one for my Ram, but I'll have the piece of mind if anything does arise.
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