Would you buy an extended warranty? Maintenance contract?

[riverrat373]

Picked up my Lariat today and the dealer tried to sell me a 7 year 100k warranty for $3400. Would you buy an extended warranty? Is that price reasonable?

another option was to buy an extended maintenance contract that covers all scheduled maintenance for the first 100k miles for $3000. Is that worth it?

As a general rule an extended warranty is not a good value, but it depends also on how many miles a year you drive and the roads you drive among many other factors.

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[TheSEARCH]

I also was thinking about Ford ESP/extended warranty . I went to flood website and i used my current car a 2020 Ford ecosport. So i put that in with current mileage about 22K . Then I put in a 2019 model with 30K mile then a 2018 with 35678 miles. the price hardly changed at all. So it seems to me wouldn't it be better to WAIT to just before 3 year 36 miles then get extended warranty? . Sure price will go up over time but really how much.

Now I never had an extended before so not 100 percent sure how they work with cars. So if you get the 10 year 100K mile one its really only 8 years added coverage as the first 3 years is the factory warranty RIGHT? Does this ESP ad anything to the factory 3- 36 warranty. Meaning if the Mav breaks down before the factory 3 year 36 k is over could it help in any way ?

If i decide I want to get this I am thinking waiting at least a year because I will be rather financially stretched (Buying outright no loan) to just buy the Mav. it doesnt seem it would hurt waiting at least a year or two?

Oh I ordered a xlt hybrid so I believe hybrid has longer warranty on hybrid parts.

 

[RobCannaday]

I never have and i probably won't here either. most serious issues i have had were things that were recall items so warranties dont really help out with recall items, the dealer just handles it for you

 

[TheSEARCH]

I never have and i probably won't here either. most serious issues i have had were things that were recall items so warranties dont really help out with recall items, the dealer just handles it for you

How long do you keep your cars on average? That might play a role in your experience.

 

[RobCannaday]

How long do you keep your cars on average? That might play a role in your experience.

at least 10 years

 

[FriscoTXJoe]

As a general rule? Hell F'n NO!!!!!!

Getting a first year model from Ford, with a hybrid, drive an S-ton of miles yearly and there are outlets that sell them dirt cheap?

Toss the general rule out the window, I bought a 5 year, 125K B2B with $100 deductible and up to 7 days of rental for $1,400. Thinking it will more than pay for itself.

 

[ClemsonU88]

Nope. I picked up a 7/100k ($100 ded) from Granger. Cost was $1100, maybe less. Afterwards I was at a local ford dealer and had the service desk look up my VIN to confirm. There it was in the national Ford database. Valid at any Ford dealer in the USA.

I never buy extended warranties, but when filling out the paperwork I thought I was getting the 7/100k ($100 ded) warranty for $500. I felt like it was irresponsible NOT to get it at that price. When I got home & looked through the paperwork, they charged me an additional $3,000 for the warranty, not $500 as I had thought.

Not exactly sure how I misunderstood initially, but they never showed me the invoice or sales receipt after they added the warranty, so it's easy to see why I didn't catch the error at the dealership. I terminated it immediately, so I'm getting a full refund; but it's taking more than a month for them to refund it.

 

[ClemsonU88]

Suppose they give you the 7/100,000 ($100 ded) for $3000 and you add it to the price of the truck and get a 5.5% loan.

Adding $3,000 to a loan at 5.5% will add $57.30 to your monthly payment, and will add an additional $438.21 to your loan. So instead of paying $3,000 for that warranty, you're actually paying $3,438.21.

If you're on the fence at $3,000, maybe an additional $438 will push you to the "No" side. But if you're very "Risk adverse", the extra $57.30/month may be worth it. I'm just trying to give you the "whole" cost of the warranty.

The dealer told me the battery and all its hybrid components already have a 7/100,000 factory warranty. They aren't limited to the 3/36,000.

Can anyone confirm or debunk that?

 

[commadorebob]

No. As a financial guru once said, "why? Are you selling a piece of junk?"

Even regular oil changes at a quick lube out of pocket won't cost that much. If you keep the fluids clean and topped off, it'll run forever.

 

[apstephen]

I will end up getting it. I have a Ford ESP on my current commuter now. I drive 110 miles daily. I enjoy the piece of mind knowing that I don't have to worry about paying for unforecast maintenance events. I've just prepaid them! I've been a helicopter mechanic for the past 40 years so I don't freak out so much when parts fail, and trust me parts fail. With newer technology, chips and processors, we are essentially driving (and flying) around in computers. Labor rates can eat you up just to replace an inexpensive part. For me it makes sense, for others it doesn't.

if you are thinking about getting one...just make sure you get the Ford ESP. I've had dealers try to sell plans that were "in-house " specials, and only good at their location. Avoid those like the plague!

 

[apstephen]

Suppose they give you the 7/100,000 ($100 ded) for $3000 and you add it to the price of the truck and get a 5.5% loan.

Adding $3,000 to a loan at 5.5% will add $57.30 to your monthly payment, and will add an additional $438.21 to your loan. So instead of paying $3,000 for that warranty, you're actually paying $3,438.21.

If you're on the fence at $3,000, maybe an additional $438 will push you to the "No" side. But if you're very "Risk adverse", the extra $57.30/month may be worth it. I'm just trying to give you the "whole" cost of the warranty.

That is why I haven't ever financed the Ford ESP. Just buy it out right and be done.

 

[Sirslayer]

If you have full insurance coverage, your insurance company would have a better deal for extended warranty!! I would look into that!!

 

[ClemsonU88]

If you have full insurance coverage, your insurance company would have a better deal for extended warranty!! I would look into that!!

I've never heard of getting an extended warranty through my insurance company. Have you done this? How much is it? Can you wait until the end of the factory warranty to get it? It'll probably still be more than I'm willing to pay.

 

[TheSEARCH]

I've never heard of getting an extended warranty through my insurance company. Have you done this? How much is it? Can you wait until the end of the factory warranty to get it? It'll probably still be more than I'm willing to pay.

I googled it. I would say NO car insurance companies don't . Geico does not.

 

[Sirslayer]

I googled it. I would say NO car insurance companies don't . Geico does not.

I guess you didn’t google correctly, it’s under mechanical breakdown insurance from Geico and it’s similar to the dealership extended warranty. I only pay $38 a month.. it’s a 7 year 100,000 miles plan.

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