Extended Warranty or not?

[djd3]

The dealer I am getting the Mav from has a "Lifetime powertrain Warranty"

Be wary of the terms - likely you must service only at that Dealer and on their specified schedule. It is designed to hook you in as a service customer and ultimately make money for the dealer

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[WasChops]

Don't say no, negotiations have just moved to another employee who will earn $$$ if he sells you something. Maybe you can trade for something like fender flares if you buy something that has a 30 day free return/ cancellation option. ??? Don't forget his job is to sell you a loan. Maybe you can get lower loan amount with no early payoff penalty. Gotta be on your toes! ???

Excellent suggestion here... in fact, I have taken the Finance offered, due to the discounting provided at the time of purchase... then, because I was certain there was NO PREPAYMENT penalty, I either financed it with a better rate (Credit Union) or paid it off entirely.

Overall I like the idea of bartering for an accessory added - that is brilliant!

 

[WasChops]

Be wary of the terms - likely you must service only at that Dealer and on their specified schedule. It is designed to hook you in as a service customer and ultimately make money for the dealer

Ames Ford Lincoln has the same warranty, which specifies a requirement for an ASE certified shop maintain the vehicle to keep the vehicle qualified.

Some good stuff being discussed in this thread... glad it was initiated!!!

 

[WasChops]

I've driven Fords for about 30 years. For some I've purchased the extended ESP warranty and some I haven't. It is an insurance policy and the price you pay is negotiable. Of course they are going to work hard to sell it to you. Have I used Ford's extended warranty? Yes - was it beneficial - yes. At other times I haven't used it and I've received a refund when I sold the Ford. I'd recommend you weigh the pros and cons on paper then make a decision. My Mav is scheduled to build the week of Nov 22. Before it arrives I plan to go to my dealership and talk to the finance folks about pricing - yep - before they have me boxed in. If I learn anything beneficial I'll pass it on. Right now, I'm sitting on the fence about ESP and am noting my pros and cons for my 2.0 EB Lariat. Good luck on your decision!

Dude, that is a really nice gesture from you... to provide INTEL... thanks I am looking forward to your information!

 

[MakinDoForNow]

Excellent suggestion here... in fact, I have taken the Finance offered, due to the discounting provided at the time of purchase... then, because I was certain there was NO PREPAYMENT penalty, I either financed it with a better rate (Credit Union) or paid it off entirely.

Overall I like the idea of bartering for an accessory added - that is brilliant!

Don't forget oil changes/tire rotation for (?) Years if I..... I had a distant relative who stopped by dealer and bought a top of line Oldsmobile and when finance guy asked if he wanted the life insurance payoff he paused about 3 seconds and said "why not". Went home and wife asked "how did it go?" To which he replied the good is you have a new car, the bad is the doc says I have maybe 4 months! (The loan had a no payment due for 90 days.

 

[vezpa]

Ill drive the truck for a while and make the decision sometime just before the factory warranty runs out if I still have it.

 

[UberGadgetFreak]

Be wary of the terms - likely you must service only at that Dealer and on their specified schedule. It is designed to hook you in as a service customer and ultimately make money for the dealer

I ran into this exact problem once before. The ESP plan the dealership sold me was NOT the Ford ESP plan, and it had terms like all general maintenance had to be on record at the dealership and only the selling dealership could do warranty repairs. For someone who travels a lot, this was nearly useless for me. My Mustang with the Ford Protect is coming up on it expiring, but it has proven useful even when 3 states away. That's the kind of coverage I like. So now, if it ain't Ford Protect, It ain't for me.

As for being a 1st year production, I plan on getting it just as a sanity check. It will be online for the best price I can get.

 

[Down]

But doesn't Ford already cover your engine for like 3 years? Why would you double insure it?

In addition to other points made, there's also the fact that at 20k miles per year of driving for that person, the warranty will be less than 2 years long for them because of the 36k mile cap.

 

[Dallas Maverick]

The hybrid powertrain is covered for 8/100k so what other big ticket items are we looking to cover? I don't see any, really.

The LED headlights, on all models, are not serviceable or replaceable. if one ever fails, you have to replace the entire headlamp.
XL and XLT models - $1,200-$1,400
Lariat - $1,000

That is part cost only. does not include installation

 

[Big Kahuna]

The most expensive problems will likely be powertrain which has a 5 year 60K warranty.

The max extended warranty is 8 years. So you’re only getting 3 years of additional coverage. A $0 deductible plan is roughly $3700. So basically for those 3 years of coverage you’re paying $1,223 per year.

Mileage it’s 150K so you get 90K additional coverage at cost of 0.04 a mile.

Now that’s all based on powertrain. If your computer craps the bed at 40K you could easily drop $1K.

I plan on keeping mine for 10+ years so a warranty is reasonable considering first year of vehicle, lots of computer tech, mine is AWD so more moving parts.

The $200 deductible plan makes most sense as the reason for the extended warranty isn’t to cover the $50 repair or $400 warranty item, it’s to cover the $1000+ big issue items. And the 125,000 plan makes sense for 8 years as it’s 900 more for the 150k plan.

 

[Big Kahuna]

The truth of the warranty is that only 45% of people who buy a ext warranty ever use it and on average those 45% never recoup the cost.

However Ford reliability is lower than other brands. Avg repair cost with Fords is $775 year.

Anyone tried Geico Mechanical Breakdown Insurance? Seems a lot more affordable than an extended warranty.

 

[jeffdeq]

I have purchased four ESP 8-year Premium plans in the last 8 years. So far, only one vehicle had a serious issue that resulted in an expensive repair. The warranty cost of that repair exceeded the price paid collectively for all four ESP Premium plans. Also, presently I am down to just one vehicle. I have received refunds to the three vehicle ESP policies that I ended early.
I am ahead of the game and have peace of mind that I can own a vehicle 8 years, $0 deductible and only plan on paying for regular maintenance.
Good or bad, pro or con, this is my logic behind investing in an extended warranty.

 

[MLowe05]

The LED headlights, on all models, are not serviceable or replaceable. if one ever fails, you have to replace the entire headlamp.
XL and XLT models - $1,200-$1,400
Lariat - $1,000

That is part cost only. does not include installation

I haven't had a car that didn't have LED headlights in quite a few years, and most of them have been adaptive on top, so I am well acquainted with this tech and also I love it. I have never had any issues with them. Doesn't mean it cannot happen, but odds are in your favor. My best friend is driving a 2014 Corolla right now nearing 200,000 miles with its factory LED headlights still functioning as day 1.

Also, once the Maverick has been out for a while (certainly by the time they're running out of warranty) parts cost will come down and the availability of parts from Mavericks that met an early end will be prevalent.

 

[Down]

But doesn't Ford already cover your engine for like 3 years? Why would you double insure it?

In addition to other points made, there's also the fact that at 20k miles per year of driving for that person, the warranty will be less than 2 years long for them because of the 36k mile cap.

I haven't had a car that didn't have LED headlights in quite a few years, and most of them have been adaptive on top, so I am well acquainted with this tech and also I love it. I have never had any issues with them. Doesn't mean it cannot happen, but odds are in your favor. My best friend is driving a 2014 Corolla right now nearing 200,000 miles with its factory LED headlights still functioning as day 1.



Also, once the Maverick has been out for a while (certainly by the time they're running out of warranty) parts cost will come down and the availability of parts from Mavericks that met an early end will be prevalent.

I'm assuming you accidentally quoted the wrong post cuz if not, I'm confused, lol.

 

[MLowe05]

I'm not sure what happened.. Fixed.

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