Should I buy an ESP plan? 2023 hybrid XLT

[SLingbarT]

Just an update: I ended up buying the PremiumCare 10 year/100,000 mile with LED light add on for $1375 after using the points.

I probably could've gotten away with the 60,000 mile one and saved $450 but I wanted a buffer and I know this is crazy to think like this, but the possibility of selling in 5-7 years is certainly on my mind and the ability to advertise a factory warranty thru 100,000 miles would increase the value by the $450 easy IMO when it comes to a private sale.

I'm accustomed to working on my ~30 year old car with no warranty so was really concerned about electronics and parts like the heat exchanger on this non-Asian car (Ford ).

NGL I feel a little icky buying a warranty but the price was low enough that I couldn't resist. If it had been more expensive I wouldn't have done it.

Hybrid comes with 10yr 100k hybrid power train warranty. No esp needed.

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[Connect]

I usually put around 20-22K miles a year on my cars so I bought the 6/125 plan. The last 2 Fords I owned 2002 Ranger, and 2009 F150 I ended up using the warranty on both and came very close to what I paid for it. However, those warranties were a rip off compared to these. I figure it is worth the 'insurance' for sure given my experience with Ford's

 

[SLJ]

Wait and if you still have the Maverick as you can wait and buy a plan just before the main warranty runs out. If you're financing it with the car purchase, it doesn't make sense to get it now and pay interest on it for up to three years before you even need it. Besides, there are typically cheaper places to get a Ford ESP than from the dealer you're buying your Maverick from.

 

[icegradner]

Hybrid comes with 10yr 100k hybrid power train warranty. No esp needed.

Doesn't do you much good for the non-hybrid components, which IMO are more likely to fail the way these trucks are being built. Just replacing one headlight covers the cost of the warranty.

 

[huunvubu]

Extended Warranties are a complete waste of money. Better to just put what those plans cost into an interest account (now above 5%) and tap into it when needed.

Especially for me.

We keep our vehicles from cradle to grave.

Examples:

1998 Ford Ranger XLT SuperCab - 16 years 4 months. Total Repairs were $3,208 or less than $200 per year.

2009 Honda CR-V Ex - 15 years. Only repair was a door switch for $16

2015 Honda Fit - 7 years 1 month (sold this to Carvana when purchased 2022 Ford Maverick XLT Hybrid). No repairs were ever needed.

2022 Ford Maverick XLT Hybrid - 1 year 9 months (sold this to Carvana when purchased 2023 Ford Maverick XLT Hybrid). No repairs were ever needed.

Totaling all the years for these vehicles is: 40 years 2 months of usage. Over that time we paid a total of $3,224 for repairs or $80 per year.

On my 2023 Ford Maverick XLT Hybrid will not purchase an Extended Warranty as the above proves them to be a waste of money.

 

[boe757]

I did not! Thank you. I'll have to investigate that with the granger link.

200 points = $1.00

the other problem I am concerned about is you don't know what you have until you need it, I have not decided which way to go either- 694 miles on a 23. I hate the "oh that's not covered". The other issue is you are captive to Ford maintenance- as i understand it-usually only a couple of dealers in range. Cost for me is not too great, premium care 5/75 $200 deductible =$560-$327 in points. 5 years because i will be 81 and doubt if i will have more than 75000 miles on the truck. Leaning toward getting the coverage

 

[BuddyS]

You know why so many companies sell extended warranties? Because they make money doing so — yours. Save what you would have spent and invest it. Maybe you’ll need to spend it on the car, or maybe you’ll still have it at the end.

 

[VicRattlehead]

Plans change quickly.

Wait until you are beyond the manufacturers warranty then decide.

Personally, if I make it 4 years and can get one that covers it the rest of it's life up to 200k for $1k (and not a penny more), then I'd buy in. So you can see where I stand... I'd rather put that money in a high yield savings.

Everyone's financial situation is different, so you are essentially weighing the value of insurance.
Totally up to you.

1st- you can not buy the ford esp after the manufacturers 3/36.
2nd- the more miles and age your vehicle has the cost of the esp goes up. So if you got the 10/100 now for 1000 that same 10/100 will be like say 1800 when you buy it at 35k miles.

 

[inline_five]

Extended Warranties are a complete waste of money. Better to just put what those plans cost into an interest account (now above 5%) and tap into it when needed.

Especially for me.

We keep our vehicles from cradle to grave.

Examples:

1998 Ford Ranger XLT SuperCab - 16 years 4 months. Total Repairs were $3,208 or less than $200 per year.

2009 Honda CR-V Ex - 15 years. Only repair was a door switch for $16

2015 Honda Fit - 7 years 1 month (sold this to Carvana when purchased 2022 Ford Maverick XLT Hybrid). No repairs were ever needed.

2022 Ford Maverick XLT Hybrid - 1 year 9 months (sold this to Carvana when purchased 2023 Ford Maverick XLT Hybrid). No repairs were ever needed.

Totaling all the years for these vehicles is: 40 years 2 months of usage. Over that time we paid a total of $3,224 for repairs or $80 per year.

On my 2023 Ford Maverick XLT Hybrid will not purchase an Extended Warranty as the above proves them to be a waste of money.

I have an old car and agree with most of what your wrote. However I will also state that having a warranty would've meant I would've fixed things that it would've covered that I didn't necessarily need to fix as far as mechanical use of the car goes.

In addition the 10 year cost of this warranty was only ~$10/month, which isn't much more than your cost at $4/month more.

This is for the premium care 10 yr/100k option with $200 deductible.

I also felt that if/when I sell, having a transferable Ford warranty would almost for sure get me the extra money out of pocket I paid for it (example sell in five years, I could sell for another $650 over what I would've gotten otherwise). Probably even more than that.

 

[dhill59]

Got 10 years/100,000 mile BTB Zero dollar deductible plus lightning plus better rental plus key replacement. Most anything that goes wrong will be fixed by Ford and I will be provided a rental. Maverick is fairly new and I am older than dirt and don’t want to be inconvenienced more than necessary. “Pay me now or pay me later.”

 

[ATXTACOS]

On my 2013 Mustang GT I got an inexpensive 5 year plan. 5/25000. Before it expired, I had 3 issues warrantied that added up to $3800, My plan was $900. The issues we the retractable shade for the glass top, head unit, drivers power seat motor.

 

[Darnon]

1st- you can not buy the ford esp after the manufacturers 3/36.

Ford allows up to 41mo/41k miles, but the price increases again past 3/36.

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