Recommendation for Extended Warranty

[TheGoodEgg]

My 2023 Maverick just hit 32,000 miles, and its manufacturer's warranty will expire in a couple of months. I got multiple snail mail and emails from various extended warranty providers. My questions are:

1. Should I just roll the dice and hope it lasts as long as any Toyota?

2. If I buy an extended warranty, what should I watch out for?

3. Any recommendation for a good warranty provider?

Thank you!

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[gzebrick]

Granger is the go-to. Get a real Ford warranty, not an off brand. Consider the lighting rider to cover those $1000 headlights. Pick your miles,years and deductible to suite your needs.
https://www.grangerfordprotect.com/

 

[HeyBales]

And a good learning example for someone contemplating right now getting one for their brand new truck.

The cost of the Ford warranty right now for the 2023 is going to be MUCH more expensive than it would have been, if it had been bought back in 2023 soon after the truck.

Cost of the extended warranty always goes up.
And when bought before the 3/36 factory warranty is done, it always starts at the same time - right then.

But what if you don't know if you'll keep it past that factory warranty?
It can go with the new buyer - so it's a selling point, you can make the purchase back.

 

[TheGoodEgg]

This looks fairly reasonable to me (not sure what was the price when I first bought it):

 

[gzebrick]

It's also worth noting the cost of the warranty is the same regardless of trim. XL, XLT, Lariat are all priced the same (though if you have AWD there's an up-charge). The higher trim trucks have more stuff to break, so it's a bit of a better deal.

Cost are always lower if you get it within the first 12 months of original purchase date. There's no difference in coverage as the start is always based on the first sale date.

 

[tiktokbrainrot]

Depends on how long you plan on keeping it. 1 year? 2? 10?

Parts aint cheap anymore. If you lose audio, that's a $1100 repair. Infotainment goes out? $4000. AC? $1500. Your transmission? $7500+. It can easily pay for itself, and given the build quality of modern Fords, I'd say the Grainger is well worth it.

Or it will be a waste and you'll never use it.

Make sure it covers rentals. My buddy's taurus had to go in for a HVAC controller replacement. Cost the extended warranty over $3k and took almost 4 MONTHS to get it back. They had to give him a loaner for 1/3rd of a year. This was after the water pump went out and cost ~$1300 or so a year earlier. Warranty long since paid for itself.

 

[gzebrick]

Depends on how long you plan on keeping it. 1 year? 2? 10?

Parts aint cheap anymore. If you lose audio, that's a $1100 repair. Infotainment goes out? $4000. AC? $1500. Your transmission? $7500+. It can easily pay for itself, and given the build quality of modern Fords, I'd say the Grainger is well worth it.

Or it will be a waste and you'll never use it.

Make sure it covers rentals. My buddy's taurus had to go in for a HVAC controller replacement. Cost the extended warranty over $3k and took almost 4 MONTHS to get it back. They had to give him a loaner for 1/3rd of a year. This was after the water pump went out and cost ~$1300 or so a year earlier. Warranty long since paid for itself.

Since the warranty is transferrable, you can get a premium if you ever sell the truck.

 

[TheGoodEgg]

It is interesting how the actuation table was calculated. Cause they will need to make money off these "policies," and the dealers also get a cut. Perhaps this one way to generate advanced cash flow for the manufacturer?

 

[TheGoodEgg]

Also, I priced a 2027 truck with 1,000 miles, the cost is almost the same.

 

[KO Stradivarius]

What's the difference between Granger extended warranty and the Ford factory extended warranty that I have been receiving constant email notes about, which I assume was the same coverage that I could have bought at the dealer? I never knew the Granger warranty existed.

Also, for everyone suggesting that a person should act early, not waiting long after buying before getting the warranty - I have found a drawback to that approach: Time changes things.

For example, I was commuting 90 miles/day round trip 5 days/week for the first 11 months of ownership, but then I was let go from my job, so now I am semi-retired and not driving anywhere near as much. If I had bought an extended warranty I would have paid for a much higher mileage limit for a given period of time, and now since I'm not driving as much I would reach the time limit before the mileage limit. Now with the value of hindsight, I can make a better decision. Losing/gaining a job, moving your residence, all these are possible for some. YMMV.

 

[pigsareus]

What's the difference between Granger extended warranty and the Ford factory extended warranty that I have been receiving constant email notes about, which I assume was the same coverage that I could have bought at the dealer? I never knew the Granger warranty existed.

Also, for everyone suggesting that a person should act early, not waiting long after buying before getting the warranty - I have found a drawback to that approach: Time changes things.

For example, I was commuting 90 miles/day round trip 5 days/week for the first 11 months of ownership, but then I was let go from my job, so now I am semi-retired and not driving anywhere near as much. If I had bought an extended warranty it would have been for a much higher mileage period for a given time. Now with the value of hindsight, I can make a better decision. Losing/gaining a job, moving your residence, all these are possible for some. YMMV.

Granger is selling the Ford extended warranty - so they're both the same. The warranty seems to be some kind of potential 'cash cow' for dealers, granger claims to only make about 50 or 100 bucks when they sell one (current pricing about 2300 for 100k/10 yrs), whereas dealers seem to pull numbers out of the air and anecdotally charge 3500-4800 bucks. Dealers also like to load the extended into the financing thereby adding to their take.

 

[pigsareus]

And a good learning example for someone contemplating right now getting one for their brand new truck.

The cost of the Ford warranty right now for the 2023 is going to be MUCH more expensive than it would have been, if it had been bought back in 2023 soon after the truck.

Cost of the extended warranty always goes up.
And when bought before the 3/36 factory warranty is done, it always starts at the same time - right then.

But what if you don't know if you'll keep it past that factory warranty?
It can go with the new buyer - so it's a selling point, you can make the purchase back.

yep - I could have gotten the warranty via granger in 2022 when i bought my xl - cost was $1400...ended up paying $2200 2.5 years later.

 

[OleFordGuy]

imo it's like any other insurance, it's a gamble if you ever use it or not. I would assume ford just like all other risk management companies have analyzed everything in great detail and concluded it is far enough in their favor that their risk are low.

I purchased one years ago on a previous expedition since it was the first one we had that was NOT a non turbo v8, i was unfamiliar with turbos at the time so I purchased the extended warranty. After having the v6 turbo for many years we never had any problems, I did not purchase the warranty on the new my24 expedition we traded for.

I'm not saying not to purchase one, I'm just saying it's a gamble either way. Everyone's risk tolerance levels are different. Do what you feel is best for YOU.

 

[TheGoodEgg]

yep - I could have gotten the warranty via granger in 2022 when i bought my xl - cost was $1400...ended up paying $2200 2.5 years later.

Hey if you put that $800 diff in one of the investment vehicles, in the last 4 years, some asset appreciated significantly.

 

[gjallen3]

This looks fairly reasonable to me (not sure what was the price when I first bought it):

That’s a good price. If you wait until next year it will be hundreds more. I bought a 10/100000 on a used 24 last year and paid $2300 with Granger. That was $1100 less than purchasing directly from Ford.

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