POLL: Extended Warranty on Maverick (Yes/No)

[mdwebby]

Granger ESP through Ford

Ok then, I was mistaken.

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[Big Kahuna]

I thought about it and then skipped it. I'm 1 year 5 months in at 31,000 miles. I'll be over 36K in less than 2 years. None of the extended warranties made since because of the miles.

 

[Silver23]

I’m pretty sure you have to buy the extended warranty thru a Ford dealer within the first year of ownership.

Ya, probably so. I'm talking one of the many companies that do warranties.
Just saw that post, looks like you are good up to and over the 3/36

 

[Donald]

Ok then, I was mistaken.

It’s a lot to take in.

 

[TopGun22]

My dealer tried to sell the Warranty as it will make your truck more valuable if you decide to sell or trade it

 

[Montana]

NEVER!!!!

And you failed to make this an actual poll thread. Or... this forum failed at providing options for a poll thread.

Either way, don't be a fool. Warranties are dealer cash grabs. They are insurance, but for the cost, you can invest that money into savings and then some. Very few actually benefit from the warranties. The profit margin on them is astronomical for that reason. Keep in mind, you are online - where a minority can make it seem like a majority with their "advice". You do you. If you want to invest it in, fine. But the chances of it actually paying out are slim - Unless you got a Hybrid lol...

My dealer tried to sell the Warranty as it will make your truck more valuable if you decide to sell or trade it

This is exactly my point. Because it's money they will "roll over". It's a dealer tactic to have a "transferable warranty".

This is also why you get so much spam mail about "warranties". Cash grab scams. For every person that uses a mass amount of coverage from them, there are easily 100 that will never use them. They also put in TONS of clauses to absolve them of liability as best they can.

Just put the money in your savings account. Do the math. Break it down by how much you would need to save the cost of the warranty after the first three years of ownership and if you can't afford to save that much aside while owning a new vehicle, then you cannot afford the vehicle you are purchasing.

 

[IwannaMav]

I bought my Maverick and warranty from Granger. I asked for the warranty, it was not forced or pressured to buy. Just wanted peace of mind for a first year first model vehicle. 8 year 100k was $1280. I plan on keeping my Maverick 10 plus years. I'm not one to trade often. My last new vehicle was a 2012 Focus, my daughter is still driving it.

 

[Hardening2753]

Word of advice. All of those extended warranties are 75% above cost to the dealer. That’s what the finance office at a dealership told me after I kept telling him. He kept lowering the price of the extended warranty and he wouldn’t take the answer no. I finally said there must be a huge markup in the price if you started here and brought it down to there. He was mad, but he finally said 75%. I never buy an extended warranty.

Why?
1. Overpriced as stated above
2. The extended warranty overlaps the 3/36 warranty. If you buy a 5/60 warranty, you are really buying a 2/24 warranty, but the dealer won’t tell you that.
3. You’re paying tax on that extended warranty in the loan amount.
4. You’re paying for interest on that loan amount
5. I normally only keep a vehicle for 3-4 years.
6. Extended warranties don’t cover bumper to bumper. You have to read the fine print to see what’s included and excluded.
7. There may be a deductible.
8. The money you save by not buying an extended warranty can be saved for a future down payment on the next vehicle.
9. If you keep up with the maintenance, you’re vehicle should remain trouble free.
10. If you feel a need, most credit unions sell extended warranties for Pennie’s on the dollar compared to dealers.

I will be putting the 2500 in a dedicated savings account and grabbing it if there is a big breakdown

 

[Hardening2753]

I’m pretty sure you have to buy the extended warranty thru a Ford dealer within the first year of ownership.

I think so too

 

[Hardening2753]

I’m pretty sure you have to buy the extended warranty thru a Ford dealer within the first year of ownership.

I think so too

 

[Hardening2753]

Do not over pay. Buy it after the sale and get it cheaper. These are the current rates for zero dollard deductible. Play around with the number at this site https://www.lombardfordwarrantys.com/

 

[Deleted member 5597]

I will be putting the 2500 in a dedicated savings account and grabbing it if there is a big breakdown

That's the smartest move you will ever make!!

 

[Bsperty]

I'll decide on a warranty when the factory one expires. Heck, might not even have the truck by then, anything can happen. I sure don't want to buy a warranty for someone else or if it's totaled for example.

If you want. Ford plan you need to be within the factory warranty. Ziegler or Granger ford . CHeck it out Vs your dealer . I just had valve cover and timing cover leaks fixed under warranty. It would cost $ 2,200 to fix that . I got 6 years 100,000 $100 deductible for $ 1230 .

 

[Skyline]

Cash grab scams. For every person that uses a mass amount of coverage from them, there are easily 100 that will never use them. They also put in TONS of clauses to absolve them of liability as best they can.

In all fairness... Generally all types of insurances work on the same way, be that car, house, health, liability insurance, etc., and yes extended warranties. All of these insurance companies have an actuary department, that calculates the insurance rates based on historical data, the current policies changes and the expected profit percentage. It's a business like any other that expected to make profit...

 

[Ranch]

I didn't get an ESP.

I have a question. Lets say I bought an extended service plan and my Maverick gets totaled in a wreck. Will the insurance company pay me back for the ESP? Or am I out of luck and it just disappears?

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