POLL: Extended Warranty on Maverick (Yes/No)

[oilman300]

I bought the ESP Platnium 10/75000 warranty from Flood Ford. My dealer wouldn't even come close to Flood Ford's price.

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[Blitz-Hacker]

Ok this is an old thread and I have been given this a lot of thought over the past year and with my Maverick coming up on its 1 year anniversary and 20,000 miles on the clock I have decided to take the $1250.00 and place a wager on the S&P 500 mutual fund and see what happens over the next 4 years and 100k on the odometer. I will let you know how it shakes out for me. The Grange price was 5 years/100k for $1250.00. The advantage of doing it this way is I do not have to get my truck repaired at the dealer and I have the potential to come out way ahead. The down side is if I have a major breakdown after 36K i could lose my $1250.00 or lose it in the stock market and have a big repair bill. The thing is 1 big break down and she will go bye bye anyway. I am thinking I will be fine with my 24 Mav

 

[Dave O]

I opted not to get an Extended Warranty at the time of purchase since my main concern was the hybrid (my first) but it comes with a factory warrant for 8 years / 100,000 miles as my other standard warranties get close to their expiration dates I will consider it then - I will say I have a few friends who spent the money at the time of purchase and it’s been a nightmare getting things covered or paid for outside the standard warranties

 

[Cherokee]

I purches the extended warranty when I bought my Mav Hybrid at the dealership.

8 years and arouns 150K miles for $2,500 if I remember correclty.

I wanted the peace of mind.

Same here,
Got Six years or out to 100,000 miles for $2,000.00
I will trade it for a new something before I hit that 100,000 mile mark.

 

[BradnChristine]

Same here,
Got Six years or out to 100,000 miles for $2,000.00
I will trade it for a new something before I hit that 100,000 mile mark.

I know we'll tow the truck a lot, as opposed to just driving it (currently about 9800 driven, 6000 towed), so I purchased 8 yr and 36,000 ESP Warranty from Granger for $515, including lighting and first day rental with a $50 deductible. At our current rate, if we keep it 8 years, we are driving at the rate that will have us at 39,000 miles in 8 years. We'll likely sell it at the 4-5 year mark.

Two things I have experienced caused me to go this way:

1. My 2020 Ford Transit had a defective LED strip in the headlight. It was still under warranty when half the strip went out, and Ford replaced the $1700 item. When lighting gets this fancy (Lariat), replacements are expensive and can easily pay for the warranty.

2. I sold my 2017 C-Max that had a 48000, 8 yr warranty. When I sold it in 2023 for $17,500 with about 30,000 miles, I am positive that being able to pass on the Ford warranty to the new buyer for another 2 years and 18,000 miles made the car worth AT LEAST more than the $905 I had paid for that unused warranty.

I never used the C-Max warranty in 6 years, and hopefully the Maverick warranty experience will be the same. But these 2 issues make it worth it. All bets are off if it gets totaled, but the warranty does have a refund calculation. It was a no-brainer to me to spend that $515.

 

[Cherokee]

Not many miles, see why it was just 500 bucks,

“purchased 8 yr and 36,000 ESP Warranty from Granger for $515,
Not a bad deal.

I got it in writing that I can buy a full warranty from 100,000 miles to 150,000 miles when my 100,000 mile warranty runs out for another $2,000.
I drive about 12,000 to 15,000 a year so for roughly $500 a year I can keep this wonderful mini truck if I so choose.
It’s cheap insurance. I’ve only once used an extended warranty. I covered a big repair on my Tacoma. The warranty was less than half the cost of the repair. So to me the piece of mind is worth it.

 

[dochawk]

A few thoughts:

1) In general, extended warranties are one of the two worst insurance deals out there (the other being CDW on a rental car, which covers totaling it about once a year). In many fields, the sales commission on the warranty is significantly higher than the item).

2) There are some non-rare repairs on fords that are much larger than the cost of a 10/100/0, at least if you get it somewhere like Granger.

3) There is a cycle in which credit unions seek out more reasonably priced extended warranties to offer to their members. I don't know where we are in that right now.

Right now, given ford's recent history, I suspect I'll be being the 10/100/0 from granger (unless local dealer will match, like they did with the maverick itself. It's about 5% of the cost of the truck, or roughly what I'm saving below invoice.

OTOH, I'll be breaking off the purchase price into a separate Roth account and making payments for 72 or 84 months. And there's a fighting chance that I still have the original amount at the end of the loan (odds against, but I'll probably have more than half).


oh, and an odd observation

4) the warranty cost on a high trim f-150 isn't much different than for a maverick that costs half as much! I'll likely be buying one in King Ranch, much as I loathe the branding, rather than adding the power running boards, massaging seats, and a good HUD to the Lariat F-150 (a separate purchase from my wife's maverick), as I'd rather have them covered under the ESP.

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