Should I buy an ESP plan? 2023 hybrid XLT

[MaveRichard]

I am considering this as well, but like mentioned previously I will probably wait to see what problems creep up over time.

I have found that most vehicles do not have issues, but the ones that do tend to continue having issues. If I make it through 3 years without issue I doubt I will be purchasing an extended warranty.

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[tellyouwhat]

It looks like we must get all regular service done at a Ford dealer though, for what it's worth. I'm wondering how much they are going to charge to change my air filter.

by the way, perhaps you already knew but you can use ford points towards purchase of ESP

 

[inline_five]

by the way, perhaps you already knew but you can use ford points towards purchase of ESP

I did not! Thank you. I'll have to investigate that with the granger link.

 

[Optimus]

I am on the fence about an ESP. Various factors involved such as

-we are not sure how long we will own it
-If our Mav is unreliable early on (first 36k), it might be enough to just sell it.
-Costs always rise, so a $1500 purchased today might cost quite a bit more in 3 years? Not sure—never bought a new vehicle before.
-Using $1500 as an example cost for an ESP, that seems pretty cheap in comparison, as it can be tough to walk out if a shop anymore with a bill less than $1000.

My dealer wanted $1900 for their in-house basic coverage (not full coverage), and $3800(!!!) for a Bronze level coverage that I would say is roughly comparable to ESP high level premium plan, but I didn’t go into much detail with them about it due to sticker shock. Their Gold snd Platinum packages added things like PPF, oil changes, and ceramic coatings. I think the Platinum package was like 6k!

 

[inline_five]

I am on the fence about an ESP. Various factors involved such as

-we are not sure how long we will own it
-If our Mav is unreliable early on (first 36k), it might be enough to just sell it.
-Costs always rise, so a $1500 purchased today might cost quite a bit more in 3 years? Not sure—never bought a new vehicle before.
-Using $1500 as an example cost for an ESP, that seems pretty cheap in comparison, as it can be tough to walk out if a shop anymore with a bill less than $1000.

My dealer wanted $1900 for their in-house basic coverage (not full coverage), and $3800(!!!) for a Bronze level coverage that I would say is roughly comparable to ESP high level premium plan, but I didn’t go into much detail with them about it due to sticker shock. Their Gold snd Platinum packages added things like PPF, oil changes, and ceramic coatings. I think the Platinum package was like 6k!

I just called my local dealer, roughly $2,000 in maintenance for the first 100k miles. I would use them to check the box on the service so that I don't have any warranty push back. So add that to the cost of the ESP.

Many of the items are avoidable, as much of the "servicing" is really just inspections, but documented nonetheless that it was completed.

Since I'm more time based vs mileage, my actual cost for the maintenance over ownership is going to be more like $1k, or $0.016 per mile.

So for me, it would be about $2500 + oil changes to cover the car for 10 years with the premium plan. $250/yr, or $20/month.

I honestly can't find a reason to not do it, and I NEVER buy warranties.

 

[TibX]

Plans change quickly.

Wait until you are beyond the manufacturers warranty then decide.

Personally, if I make it 4 years and can get one that covers it the rest of it's life up to 200k for $1k (and not a penny more), then I'd buy in. So you can see where I stand... I'd rather put that money in a high yield savings.

Everyone's financial situation is different, so you are essentially weighing the value of insurance.
Totally up to you.

Good advice but the only problem is that warranty costs usually increase with age and mileage after purchasing a new vehicle, also it looks like he is looking at a Ford warranty which is good as many dealers will not accept 3rd party warranties because of issues with getting paid by the warranty company.

 

[catshreds]

A lot of your decision may come down to what your gut is telling you. Or to paraphrase Dirty Harry: "Do you feel lucky?"

 

[Skyline]

I dont put a lot of mileage on my car. So the 5 year 60k seemed fine. 5 years is a long time to break something in. If I find in those 5 years that people have problems at >60k then I'll sell it and buy a Honda again .

5 years, 60K miles is a lot of miles. In the same time period my truck probably get less than 25K miles. It's hard to believe it, but my 25 years old F150 had 75K, or 76K miles on it. Picture this, it came with one year warranty...

I don't plan on keeping the Maverick longer than three years the most, more likely selling it next year and get something different. Yes, Honda is an option...

So, yeah, "I do feel lucky..."

 

[Chicolini]

I have bought several Ford ESP warranties, on a 1984 TBird, 1988 Bronco II, 2012 F150, 2016 F150 and 2017 Mustang. I never had a repair that the ESP plan covered - because they did not need a repair during the extended warranty period.

I am not buying ESP coverage. I hope my luck holds!

As others have said, I would only consider buying an ESP plan at the end of the factory warranty period.

 

[NotAnonymous]

Since I have a 2022 hybrid (a/k/a guinea pig model) and since Granger is running their deal I got an ESP before prices went up recently. I've NEVER had an extended warranty before but I've also never had a car with numerous recalls, etc. nor have I had a first-year model before. Just my own situation but that was my reasoning.

 

[GreyCacti]

Yes - you should look into an ESP....in about 2.5 years or 35,000 miles - whichever comes first.

Until then - use your factory 3 year 36k bumper to bumper warranty to cover everything while you find out if you're going to keep your Maverick long term.

How much money do you feel you save if you buy it time of sale? If you wait 36 months, won't they increase the price because it's no longer new?

 

[inline_five]

Just an update: I ended up buying the PremiumCare 10 year/100,000 mile with LED light add on for $1375 after using the points.

I probably could've gotten away with the 60,000 mile one and saved $450 but I wanted a buffer and I know this is crazy to think like this, but the possibility of selling in 5-7 years is certainly on my mind and the ability to advertise a factory warranty thru 100,000 miles would increase the value by the $450 easy IMO when it comes to a private sale.

I'm accustomed to working on my ~30 year old car with no warranty so was really concerned about electronics and parts like the heat exchanger on this non-Asian car (Ford ).

NGL I feel a little icky buying a warranty but the price was low enough that I couldn't resist. If it had been more expensive I wouldn't have done it.

 

[tom_tucker]

Just an update: I ended up buying the 10 year/100,000 mile with LED light add on for $1375 after using the points.

I probably could've gotten away with the 60,000 mile one and saved $450 but I wanted a buffer and I know this is crazy to think like this, but the possibility of selling in 5-7 years is certainly on my mind and the ability to advertise a factory warranty thru 100,000 miles would increase the value by the $450 easy IMO when it comes to a private sale.

I'm accustomed to working on my ~30 year old car with no warranty so was really concerned about electronics and parts like the heat exchanger on this non-Asian car (Ford ).

NGL I feel a little icky buying a warranty but the price was low enough that I couldn't resist. If it had been more expensive I wouldn't have done it.

Premium plan? I'm considering but I'm probably gonna need 10yr/150k to cover it. The only problem I see with these is I kind feel like things are gonna break before 3 years or after 10 yrs, not too much in between.

 

[inline_five]

Premium plan? I'm considering but I'm probably gonna need 10yr/150k to cover it. The only problem I see with these is I kind feel like things are gonna break before 3 years or after 10 yrs, not too much in between.

Yep premium, from what I read that was the only one really worth it.

For me I drive very little now, so the majority of the warranty period is time based.

The best value mileages are 60k and 100k, other mileages are significantly more expensive to cover for some reason. Since the 100k -> 150k plan is 2x as much, it does look like Ford's actuaries predict failures in that time frame.

Today, there are youtube videos on how to swap a ten your old Prius motor in 45 mins. Obviously, it would take a shade tree guy a day to do it, but point is the info is out there. I would suspect a large amount of information will come out in the future about how to take care of powertrain failures in the Mav which would be your biggest issue after 10 years IMO.

These cars are a hit in the hacker/engineer community and I'm sure it will be inexpensive to maintain as it gets older, but I was mainly concerned about electronics failures (and that heat exchanger) in the first decade since the car is so unknown right now.

Also I priced my Mav for trade in and got a $32.5k offer, and only paid $28k OTD. So I'm already in the black. So didn't feel so bad dropping $1400 for peace of mind for the next decade. Include the cost of dealer servicing, it comes out to about $20/month.

 

[Maverick2022XL]

Insurance is expensive until you have to use it. With that said I would factor in how long or miles you plan to drive it and is the warranty transferable and pro rated if you decide to cancel it later on. With that said the Ford ESPs are probably the best option here. If set up correctly they should show not only in the Ford database tied to your vin at every Ford dealer in the US and Canada they can be tied to your ford pass account;. Not only that there should be no issues with paperwork and calling third party reps to get the work authorized and paid for. Unless the service department at the dealership are aholes, part of the cost is to pay for a streamlined service where you pay the deductable and that is it.

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