Buy extended warranty?

[Executech]

I am not typically a warranty purchaser, but I have noticed that my beloved 2022 Maverick Hybrid has been recalled more than any other vehicle I have owned and I off course purchased the first model year of a all new vehicle. I have also noticed that there are a couple common issues that have occurred in reviewing this forum. Examples are the exhaust heat exchanger and CV axles. I currently have 37,000 miles on my truck and have owned it 17 months. I had my exhaust heat exchanger go out in February and I asked the technician how much it would cost if I wasn't under warranty, he stated $1,500. At that time I chose to purchase a warranty from Granger. Below is what I purchased, will I make out on it? Hopefully not, I would prefer my vehicle not have issues, but I also do not want a nightmare scenario of $1,000s in repairs. Also, if I regret it I can get a prorated refund on the warranty.

5yr 125k $200 deductible Premiumcare warranty @ $1,056

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[Montana]

Not if you have the Ecoboost

Pretty sure we have issues too. A couple were mentioned right above this post too.

 

[Snox801]

Well I’m not one to listen to that’s for sure. My dealer preferred Ford in Michigan gave me the 10 year 100k warranty for free with purchase. I paid slightly under msrp. Very slightly under.
Then I take the maverick and good it with a tune.
The way I look at it is they don’t pay for those massive buildings and all the wages involved without having the math right. Buying a warranty is like going to the casino thinking you’re gonna be the one who wins.

 

[anblatt]

Can a person buy the extended warranty at any time for the same price?

No. The price goes up after you own the vehicle for 12 months / 12000 miles. Also, there is typically an annual price increase as well.

 

[Sage]

No. The price goes up after you own the vehicle for 12 months / 12000 miles. Also, there is typically an annual price increase as well.

Thank You. I may think about purchasing the EW.

 

[Sage]

You can buy an extended warranty on a new Ford up to 41 months and/or 40,999 miles from the vehicle’s original in-service date.

Go here and get a free quote without putting in any of your personal information: https://grangerfordextendedwarranty.com/ford/maverick.html?#/step/1

The quote will give you the ability to toggle the following:
1. If you want to pay in full or monthly.
2. What warranty coverage you want.
3. What deductible you want.

The dark gray in the table outline how many miles and years from the original in-service date of the vehicle you are buying coverage through. For example, in the table below a 6yr 100k warranty for Premiumcare with a $100 deductible would be $1,045.

Thank you very much!!!!

 

[jfourman]

I owned a "luxury" car before my Mav. I had the car for 12 yrs before it was totaled. After the 7 year extended service contract expired, I had unexpected service costs of $4K + $2K + $11K totaling $17K between years 7-12. I intend to keep my Mav for 10 years. I purchased a Ford 10 year/ 60K mile extended service contract for $1,285 (Flood with $100 credit for combining with a maintenance contract). For $128.50/year over 10 years, I appreciate the comfort that I'll avoid the unexpected service costs I had with my previous vehicle. I think it's rather cheap insurance when considering the risk of unexpected expenses in the later years of ownership.

 

[VegasRed]

My Maverick will be at the dealership Mon. Should I buy an extended warranty?

Are you a gambler? Because that’s what an extended warranty is. But just like any casino, the odds are stacked against you. These E W companies make money because the premiums they collect are greater than the claims they pay. And they have data from millions of vehicle fails and costs of repairs and employees parsing that data so that they can adjust the premium in their favor. You feeling lucky dude?

 

[MD_Maverick13]

My Maverick will be at the dealership Mon. Should I buy an extended warranty?

Absolutely, I went with 7year 150k mike extended warranty and 7year 125k maintenance package which added 3k to the price but it is worth it in my opinion. I have the 2.0l eco boost motor but having that peace of mind for that price and pre-paying for the oil changes, and other services makes sense. My brother did the same but for a shorter time period on his hybrid maverick

 

[Oscarcat]

My Maverick will be at the dealership Mon. Should I buy an extended warranty?

My three years of Mav ownership is marked on my calendar. It won't have 36k miles on it by then. The hybrid battery has an 8 yr/100k warranty.

Based on my maintenance and repair experience under the FoMoCo 3/36 warranty, I'll decide close to the end of the 36 months if I will keep it or sell it.

By then there will be other trucklets on the market. Perhaps an EV version of the Mav? I have never purchased an extended warranty.

 

[generalmgr]

No one has mentioned one very important piece to this puzzle... extended warranties only apply AFTER your factory warranty is expired. So for example, a 5-year bump-to-bumper extended warranty is really only covering 2 extra years. The 10-year powertrain extended warranty is only covering an extra 5 years...assuming you are under the mileage limits on both. That changes the math considerably. The extended warranties and still worth it for a lot of people, if just for piece of mind, but it's not an automatic "yes I should buy this". Some people have lots of life insurance, some have none.... same thing. Depends on your risk tolerance. In the long run, the majority of folks will come out ahead by not buying an extended warranty. And a minority will wish they had bought one when they get a big repair bill.

 

[Jdabs]

We ended up getting it even though I was somewhat opposed. My initial opposition caused them to lower the price substantially too. It supposedly covers things in addition to the normal warranty, even in the first years (although I haven't read the fine print), and then obviously extends it as well. Ford talks about their hourly service price costing you so much if you don't get it, but I brought up the point that I probably wouldn't bring it to dealership for anything, so would be half of what they were quoting as costs. But we ended up just getting it for peace of mind once the price was lowered. Be uninterested at first. They won't give up easily so you'll have time to reconsider as the ridiculously-long process goes on.

 

[KCarolan]

Another thing to look at is mechanical Breakdown Insurnace if you have Geico Insurance. It runs ~$25 every 6 month with a $250 deductable and you have to add it to your policy before 15 month or 15000 miles. The catch is you are locked into Geico.

 

[Tim d]

My Maverick will be at the dealership Mon. Should I buy an extended warranty?

My 2 cents. If a company has confidence in their product, they shouldn't have to even offer an extended warranty.

 

[McBear]

I'm very conflicted , I would like to keep the truck long term.
But in Canada our packages cost a whole lot more than a grand . If it was 1000 to 2000 dollars I would purchase it .
I'm thinking of trading it and taking that extra money towards a new one.

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