Extended warranty/service plans

[samspritzer]

Extended warranty/service plan...I am considering this and am deciding between Ford's ESP and one offered by the dealer from one of the larger ESP companies. The dealer's is cheaper plus it can be honored by any garage whereas Ford's is only honored at a Ford dealer. Can anyone please share their thoughts and experience. Thanks!

Sponsored

 

[Darnon]

How cheap is "cheaper"? Because through the places like Flood, Lombard, Granger that sell it near cost Ford's ESP is already pretty inexpensive. Also can use FordPass points towards it which trims off $210+.

 

[NOLAguy]

here's some good advice - never ever, ever, purchase an extended warranty on anything !!!! It's bad fundamental money management.

 

[CSmith]

Extended warranty/service plan...I am considering this and am deciding between Ford's ESP and one offered by the dealer from one of the larger ESP companies. The dealer's is cheaper plus it can be honored by any garage whereas Ford's is only honored at a Ford dealer. Can anyone please share their thoughts and experience. Thanks!

Granger Ford offers the "cheapest" Ford plan available at Ford dealerships. They are touting "$50 over cost" prices. The table below is from Ford Flood ESP and is expected to be $100 over cost.

These are good prices.

Ford Flood ESP Plans

 

[FriscoTXJoe]

I have never bought an extended warranty but did for my Lariat Hybrid. The cost from Flood Ford or Granger is simply a change in the financial equation. Spent a total of about $1,400 for a 5 year, 125K bumper to bumper with the $100 deductible AND rental car coverage. Just 2 repairs will probably pay for itself.

They are selling them so cheap it alters the math enough to make it worthwhile to me.

 

[Pop2020]

Or, just leave $1400 sitting in the bank. I'm guessing Ford won't refund the money if you don't use the warranty.

 

[riverrat373]

Dealer extended service plan are rarely ever worth the money! Just make sure that the non-Ford service center has certified mechanics and gives you a service report that lists EVERYTHING done and includes your vehicle VIN number.

 

[Turtle]

here's some good advice - never ever, ever, purchase an extended warranty on anything !!!! It's bad fundamental money management.

Sorry but that is not always true. The cost of fixing 1 major component justifies the expense especially if you financial situation is expected to be constrained in the upcoming years and please do not tell me that when inflation is out of control and the return on investment is so low that you can put the money someolace that outpaces inflation in 2022 - certainly not stocks, bonds, banks or bitcoin. It is a situational decision.

 

[NOLAguy]

Don’t let the facts get in your way/ According to the S&P annual returns from 2016 to 2020, the average stock market return for the last five years was 15.27%(13.06% when adjusted for inflation)..

 

[JoeEd]

Has anyone who purchased the ESP for their Maverick looked at the Ford Pass app to verify the plan shows up? Mine does.

And, if anyone has, will you click on the Service History and let me know if there is any particular information on there that you do not understand? I'm not understanding what shows up on mine.

Thanks.

 

[Turtle]

Don’t let the facts get in your way/ According to the S&P annual returns from 2016 to 2020, the average stock market return for the last five years was 15.27%(13.06% when adjusted for inflation)..

Your living in the past. I enjoyed that also.. I have had a multitude of winners - aapl, msft,Amzn, etc. but those days are at a minimum suspended. Even XLE will retract. Best thing right now is a I - bond. They should let us put millions in them versus 10K PP.

 

[Sylvester]

Geico car insurance has a mechanical breakdown insurance. It goes over 7 years and 100k miles. You have to be the first owner and start the insurance latest before 15k miles and 15 month old. It costs around 70 to 80 bucks per year. 250 dollars deductible. For some weird reason, it was not offered automatically for my Maverick but before I hit the 15k/15month limit, I will call them and activate mine.

https://www.geico.com/auto-insurance/mechanical-breakdown-insurance/

 

[JoeEd]

I have never bought an extended warranty but did for my Lariat Hybrid. The cost from Flood Ford or Granger is simply a change in the financial equation. Spent a total of about $1,400 for a 5 year, 125K bumper to bumper with the $100 deductible AND rental car coverage. Just 2 repairs will probably pay for itself.

They are selling them so cheap it alters the math enough to make it worthwhile to me.

Can you share who you bought your ESP from? If from Granger, will you check out my comment on this thread (#10) and post if you have any air conditioning/heating costs shown on your Service History of your FORD Pass. An amount, double what the ESP cost me, is shown on my history as "Services Performed - Air Conditioning & Heating." This is incorrect.

The only thing I've had any connection with Granger was purchasing the ESP. I don't want inaccurate information on anything related to my Maverick shown anywhere. I haven't gotten a satisfactory explanation from Brooke at Granger.

Thanks.

 

[ValenciaOrange]

I bought an extended warranty from Grainger. It wasn’t the greatest investment. The airfare I took the other day, cost me half of the price of the warranty. I might never use it.

 

[Turtle]

Don’t let the facts get in your way/ According to the S&P annual returns from 2016 to 2020, the average stock market return for the last five years was 15.27%(13.06% when adjusted for inflation)..

You may want to recalculate that As of today that number is no longer valid.

Sponsored