Extended Warranty or not?

[tonyinsd]

Here's my question for you: if it was such a good deal, then how would they make any money on it? And if they're making money on it, then does it make any sense for you?

When it's time for me to get the truck, if they ask me to purchase one and tell me I could be protected against costly repairs that run thousands of dollars I'm going to say I just put down a credit card for the entire purchase price. I'm confident I can handle a repair that costs a few thousand. They didn't have a comeback when I said that last time.

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[Down]

Here's my question for you: if it was such a good deal, then how would they make any money on it? And if they're making money on it, then does it make any sense for you?

By that logic, why would you ever buy anything? I mean, if it's impossible for someone selling a product to make money off of it AND have it be a wise purchase for a consumer, our whole system kinda collapses, doesn't it?
Ford is going to make money off of selling a Maverick to me but I still plant to purchase one.

 

[ffjack15]

@ffjack15
Was it as simple as putting info online and bam, you were done?

Yes very easy my dealership couldn't match there price also if you what they let you pay over 12 months.

 

[tonyinsd]

By that logic, why would you ever buy anything? I mean, if it's impossible for someone selling a product to make money off of it AND have it be a wise purchase for a consumer, our whole system kinda collapses, doesn't it?
Ford is going to make money off of selling a Maverick to me but I still plant to purchase one.

We've got people buying things they don't need and can't afford on credit cards and paying the high interest rates associated with that. It makes a lot of money for JPMorgan and Citi but the person paying that interest is getting screwed, right?

Same thing with extended warranties. You'll pay thousands now, and if you finance it you'll pay interest on that. All to avoid potentially paying thousands later. And then more than half of the people who buy one never use it.

No thanks.

 

[jeffdeq]

We've got people buying things they don't need and can't afford on credit cards and paying the high interest rates associated with that. It makes a lot of money for JPMorgan and Citi but the person paying that interest is getting screwed, right?

Same thing with extended warranties. You'll pay thousands now, and if you finance it you'll pay interest on that. All to avoid potentially paying thousands later. And then more than half of the people who buy one never use it.

No thanks.

I respect your opinion but I would suggest that there is a reason people pay dearly for home owner’s insurance and life insurance. It is simply to assist or head off a catastrophic expense down the road. Owning an extended warranty works the same way. At one time I had three vehicles with a Ford ESP plan on each. One of the three vehicles had a significant repair during the extended warranty period. The ultimate cost for that repair exceeded the combined cost of the three ESP plan premiums I originally paid. Therefore, I feel that an extended warranty is worth the investment if you plan to keep a vehicle 8 years or more. Today‘s vehicles are so complex and sophisticated that one major repair after the 3/36 warranty expires could easily exceed the cost of the extended warranty premium. .
My suggestion to save money on an extended warranty plan is not to purchase it when the vehicle is being financed. An extended warranty can be purchased through Ford any time during the initial 3/36 period. Flood Ford sells them online at roughly 50% of what a dealership is asking when you are closing on financing. That’s a rip off. I purchase online after I buy my vehicle and pay cash. It is at a significant savings with peace of mind for a number of years.
This has been my experience for others to consider.

 

[austinzone]

so these engines supposedly do not have port injection and will have direct injection only.

this will require intake valve cleaning on a semi-regular basis.

its cool that someone makes an adapter for a job like this: https://www.usvetdesigns.com/produc...-valve-carbon-cleaner-walnut-blasting-adapter

 

[tonyinsd]

My suggestion to save money on an extended warranty plan is not to purchase it when the vehicle is being financed.

And my suggestion is to not buy them at all. Because then, you save the maximum amount of money.

I had my previous Mustang for 18 years. I never had to pay more than a grand in repairs on it. I plan on keeping this one for the same amount of time. It's now six years old and I've had to pay a few hundred bucks to get a sensor replaced. I will soon have to shell out a couple of grand to replace the tires, but guess what? That's not covered under an ESP because it's a wear and tear item. I expect the same for the Maverick that I purchase.

Ain't nothing in the world that gives me more peace of mind than money in the bank -- okay, not really, more like money in appreciating assets.

 

[jeffdeq]

And my suggestion is to not buy them at all. Because then, you save the maximum amount of money.

We simply have differing opinions…..

 

[thealexhdz8]

So I purchased my Maverick few days ago and got an extended warranty at the dealership. After finding this forum, I learned about Ziegler and Flood Ford Warranties. I had no idea about them and they’re MUCH cheaper!!. So, can I cancel the one I purchased at the dealership right? I’ve heard one has 30 days to cancel?

Figured I’d asked here now since my dealer won’t be open until couple more hrs. Thanks !!

 

[widetrax]

Yes,, you usually have 30 days to cancel,, I would,, and then,, get one from Flood or Zeigler Ford...

 

[SgtLip]

So I purchased my Maverick few days ago and got an extended warranty at the dealership. After finding this forum, I learned about Ziegler and Flood Ford Warranties. I had no idea about them and they’re MUCH cheaper!!. So, can I cancel the one I purchased at the dealership right? I’ve heard one has 30 days to cancel?

Figured I’d asked here now since my dealer won’t be open until couple more hrs. Thanks !!

YES. The sooner the better. They'll ask you why. Tell them you went online and have a better price through XXX. They might try to match you.

 

[710-oil-614]

For my two most recent new vehicle purchases (2014 Forester and a 2018 Odyssey) I did not on the Subaru because I had heard of their decent customer service. I DID on the Odyssey because I had heard about Honda's poor customer service.

Both have been true. Subaru has put me in a brand new Forester on multiple occasions while out of warranty because of a TSB, recall, or just service I am having performed on my vehicle at the dealership - I did not buy it at the dealership it is serviced at either. I'm on a first name basis with my service advisor and I trust her opinion and feedback on the vehicle.

The Odyssey - one of the sliding power doors (it's an issue with Odysseys) stuck open at 800 miles with all 3 kids in the car and my wife driving who isn't the type to push on things, so she drove home with the door wide open.

I pushed it as shut as it could go, took it to the dealership and they tried charging me $39/day for a rental Accord. I scoffed at that and demanded a loaner since the vehicle was not even two months old. Then they looked at my account and saw I had the Genuine HondaCare warranty which somehow entitled me to loaners even though my vehicle was 2 months old....

So your mileage may vary.

As far as the Mav goes - I'll entertain it or look at Zeigler/Flood if they are as good as people say and are the same PremiumCare Warranty.

I plan to keep the Mav for awhile. I'd like it to be warrantied for most of it.

 

[oilman300]

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.

Replacing a headlight if a bulb burns out is $1000+ An ESP with the lighting option will pay for it after the 3/36,000 warranty expires

 

[MattyG]

Can't speak for this person's post but it's definitely an issue with some vehicles. My wife had a 2013 Nissan Sentra. Her CVT failed at about 75k.

Those Nissan CVTs were notoriously bad. The aberage expected life was only 120k. I traded my Altima Coupe in right around 110k.

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