I can't afford to change my 2001 Mondeo - should I take out a warranty on it in case of expensive problems?

I run a 2001 Ford Mondeo estate Ghia X, 2.0 petrol manual. I bought it in 2002 on the Ford Direct scheme. It has now done 85,000 miles and has been a fantastic car. I have it serviced annually at a Ford dealer and had a new inlet manifold fitted a couple of years ago. The car runs very well and does frequent motorway runs of 70-100-mile round trips, plus local shopping trips.

Although I'd like to change it for something newer, I cannot afford to do this. A smaller car is not an option either as I have three growing children. However, as it has never yet needed a new clutch, or exhaust (plus whatever other maintenance costs might come with a car of that age), I'm worried that it might not be long before it costs me a lot more money. Could you tell me, therefore, if you think buying a warranty of some sort would be a good, cost effective idea, and do you recommend any in particular?

Asked on 8 November 2010 by NI, Leigh-on-Sea

Answered by Honest John
No, because warranties are underwritten by insurers on the basis of risk with the intention of making a profit. For older cars they cover progressively less and cost progressively more money, and do not cover wearing consumables such as brake pads, brake discs, clutches and tyres. I reckon you should get at least a couple more good years out of the Mondeo, particularly as you have had the dangerous inlet manifold swirl flaps replaced.
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