POLL: Extended Warranty on Maverick (Yes/No)

[Hrntfixr]

I did the Ford Preferred/Premium extended warranty through my dealer. I'm covered till paid off and a little past.

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[RonR1959]

I did the Ford Preferred/Premium extended warranty through my dealer. I'm covered till paid off and a little past.

How long is your loan for?
How long is your extended warranty for and miles?

You are aware that the first three years of the extended warranty run concurrent with the first 3/36 of you manufacturer’s warranty, correct?

So, if you purchased a 5/60K extended warranty, you are really getting a 2/24K warranty.

 

[Mav_RICK]

I think you need to find the best deal possible like at Granger or Flood first. I think the longer you plan on keeping it the more valuable it will be. Divide your cost of the warranty by the number of years past the original warranty which gives you the yearly cost to cover your Maverick. Not financing the warranty makes more sense as well.

When purchasing make sure that you have a good idea of your yearly miles driven. No real point in a 10 yer 100K warranty if you only drive 6K a year. Its true odds are you won't use it, especially early on, but you might use it in a big way at some point. Usually insurance is a money losing proposition. People will spend thousands a year every year on auto and homeowners and never use it.

Its a You're damed if you do and damned if you don't kind of thing.

 

[apstephen]

How long is your loan for?
How long is your extended warranty for and miles?

You are aware that the first three years of the extended warranty run concurrent with the first 3/36 of you manufacturer’s warranty, correct?

So, if you purchased a 5/60K extended warranty, you are really getting a 2/24K warranty.

A warranty is not a one size fits all item for everybody. My Maverick will be my daily commute vehicle, I drive a 110 miles a day. Commute mileage a month is at least 2200 miles a month not counting trips around town etc. I will be blasting though my 3/36 warranty before 16 months has expired. One A/C compressor replacement will dang near pay for the expense of the plan, add a headlight assy, and it is paid for. The Ford ESP also allows for rental car, if car is kept overnight, up to 10 days per event. I will pay cash for my ESP, not gonna finance it. I will shop around and order from one of the cheaper vendors. Last time I used Flood Ford. Probably will get a 10 year / 150K. Ford ESP is also transferrable to a new owner.

If you don't drive many miles it might not make since to you, if you drive many miles perhaps it will.

 

[RonR1959]

A warranty is not a one size fits all item for everybody. My Maverick will be my daily commute vehicle, I drive a 110 miles a day. Commute mileage a month is at least 2200 miles a month not counting trips around town etc. I will be blasting though my 3/36 warranty before 16 months has expired. One A/C compressor replacement will dang near pay for the expense of the plan, add a headlight assy, and it is paid for. The Ford ESP also allows for rental car, if car is kept overnight, up to 10 days per event. I will pay cash for my ESP, not gonna finance it. I will shop around and order from one of the cheaper vendors. Last time I used Flood Ford. Probably will get a 10 year / 150K. Ford ESP is also transferrable to a new owner.

If you don't drive many miles it might not make since to you, if you drive many miles perhaps it will.

I understand where you’re coming from with the mileage you put on. Everyone needs to make the right decision based on their needs.

 

[bill67]

Yes not a fan of extended warranty.Maybe I'll never use it but so far with Ford it looks like I made the right choice.

 

[Bobinmi]

GRANGER warranty. 655.00 for 5 years/75k with 100 deductible. Premium plan. No rental.

 

[zzbaluba]

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.

Great advice.

 

[Tremor guy]

Yes I bought mine my son works at the dealership got his discount also if you sell your truck you can get money back prorated did that on a Taurus

 

[24MavPuy]

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.

My thoughts exactly!

 

[24MavPuy]

I paid for the expensive 8 year warranty, only because I forgot to have the dealership take it off the contract before I signed it. I've had warranty repairs done already. I think I'll be glad I have it in the long run.

Boy, I would never finance an E/W.

 

[Edlundell]

Boy, I would never finance an E/W.

I paid it off in a couple of months. Lost that XL to a stupid driver, insurance covered me for a fully loaded Lariat with 8 year warranty and maintenance agreement. I'm good.

 

[24MavPuy]

I paid it off in a couple of months. Lost that XL to a stupid driver, insurance covered me for a fully loaded Lariat with 8 year warranty and maintenance agreement. I'm good.

 

[NedF]

I got the 8/120000. Dealers financing dept was very transparent about what it covered, what the deductible was and that it overlapped the initial warranty. I also bought 7 year replacement cost from the insurance company. I am retiring in less than 2 years so I am looking for some peace of mind for a while. I paid cash so no interest etc.

 

[mcgn_hearra]

No, never. Not on a new car. You shouldn’t need peace of mind on a new car. Someone had a thoughtful response on the markup frustration with a finance manager. And yes it overlaps your default Ford warranty. Just take care of it and keep your extra cash from not paying the warranty in a 5% cash account just for your vehicle

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