Sponsored

What purchase add-ons should I consider adding to financing deal?

teebandit2

2.0L EcoBoost
Active member
First Name
terry
Joined
Aug 15, 2021
Threads
8
Messages
42
Reaction score
18
Location
Cincinnati
Vehicle(s)
2022 ford maverick fx4 xlt 4k tow 360 copilot
Engine
2.0L EcoBoost
So I'm thinking when it comes around time for my Maverick to show up and I go to do financing they are going to want to try and add a bunch of things in on my loan. Things like extended warranty,gap insurance,etc, etc, what things should I actually consider adding and which ones should I avoid just bored thought I would pick your all's brains lol.. I haven't bought an actual new car in about 25 years!
Sponsored

 

WesM

2.5L Hybrid
Well-known member
First Name
Wes
Joined
Jul 22, 2021
Threads
18
Messages
896
Reaction score
1,613
Location
Maryland USA
Vehicle(s)
Ford Maverick
Engine
2.5L Hybrid
Yea don't bother buying anything extra like Lappo said. If you want the extended warranty, decide on that before you go and get some quotes from some legit online dealerships like Flood Ford. You can use those online quotes as a bargaining chip since you can get the FORD warranty anytime during the original 36 month factory warranty.
 

Rob Cactus Gray

2.5L Hybrid
Well-known member
First Name
Robert
Joined
Sep 16, 2021
Threads
27
Messages
1,838
Reaction score
4,101
Location
Sierra Vista AZ
Vehicle(s)
11 Prius
Engine
2.5L Hybrid
Some people like gap insurance but I think all of it is garbage.
 

Darnon

2.5L Hybrid
Well-known member
Joined
Jul 4, 2021
Threads
10
Messages
4,714
Reaction score
5,582
Location
WNY
Vehicle(s)
2022 Maverick
Engine
2.5L Hybrid
GAP is worthwhile if you're financing 80% or more of the value of the vehicle. You may also be able to get it through a Credit Union if that's who you're financing through or your insurance provider. But it's worth knowing how much those actually cover. What percentage over the value of the vehicle does it cover? Does it pay the insurance deductible? Is there any additional payout to help with a replacement vehicle?
 

Sponsored

OP
OP
teebandit2

teebandit2

2.0L EcoBoost
Active member
First Name
terry
Joined
Aug 15, 2021
Threads
8
Messages
42
Reaction score
18
Location
Cincinnati
Vehicle(s)
2022 ford maverick fx4 xlt 4k tow 360 copilot
Engine
2.0L EcoBoost
GAP is worthwhile if you're financing 80% or more of the value of the vehicle. You may also be able to get it through a Credit Union if that's who you're financing through or your insurance provider. But it's worth knowing how much those actually cover. What percentage over the value of the vehicle does it cover? Does it pay the insurance deductible? Is there any additional payout to help with a replacement vehicle?
good information thank you!
 

Eagle11

2.5L Hybrid
Well-known member
Joined
Aug 6, 2021
Threads
17
Messages
1,948
Reaction score
1,646
Location
Valley of the Sun
Vehicle(s)
'07 Boxster S, 2018 BMW M5, Ducati's, Suzuki's
Engine
2.5L Hybrid
Clubs
 
good information thank you!
If you plan on leasing, leases come with GAP insurance built-in. But do not buy anything else in the vulture room, just small and say no....
 

NewBernWolf

2.5L Hybrid
Well-known member
First Name
Lynda
Joined
Aug 5, 2021
Threads
0
Messages
596
Reaction score
953
Location
New Bern, NC
Vehicle(s)
2017 Prius
Engine
2.5L Hybrid
Yea don't bother buying anything extra like Lappo said. If you want the extended warranty, decide on that before you go and get some quotes from some legit online dealerships like Flood Ford. You can use those online quotes as a bargaining chip since you can get the FORD warranty anytime during the original 36 month factory warranty.
I have trouble figuring out why anybody would buy an extended warranty ever, but particularly buying one for a vehicle that's brand new and already under a robust warranty. The fact that companies try so hard to scare us into buying those things makes me extremely skeptical.
 

Lone Star Proud

2.5L Hybrid
Well-known member
First Name
William
Joined
Aug 31, 2021
Threads
17
Messages
592
Reaction score
1,469
Location
Central Texas
Vehicle(s)
Ford Maverick XLT
Engine
2.5L Hybrid
So I'm thinking when it comes around time for my Maverick to show up and I go to do financing they are going to want to try and add a bunch of things in on my loan. Things like extended warranty,gap insurance,etc, etc, what things should I actually consider adding and which ones should I avoid just bored thought I would pick your all's brains lol.. I haven't bought an actual new car in about 25 years!
No to everything!
 

bgn

2.0L EcoBoost
Well-known member
Joined
Jun 12, 2021
Threads
4
Messages
2,122
Reaction score
3,495
Location
WA
Vehicle(s)
Maverick
Engine
2.0L EcoBoost
Clubs
 
Yep, absolutely nothing.
 
Sponsored

WesM

2.5L Hybrid
Well-known member
First Name
Wes
Joined
Jul 22, 2021
Threads
18
Messages
896
Reaction score
1,613
Location
Maryland USA
Vehicle(s)
Ford Maverick
Engine
2.5L Hybrid
I have trouble figuring out why anybody would buy an extended warranty ever, but particularly buying one for a vehicle that's brand new and already under a robust warranty. The fact that companies try so hard to scare us into buying those things makes me extremely skeptical.
I do understand some of the rational behind it. I think there are several reasons behind it. One goes along the lines of not wanting to have to worry about repairs, so they basically are prepaying their repair bill.

Another is that maybe someone plans to keep their vehicle to 150k miles. In which case being under warranty (in their mind) negates the need to buy a new vehicle, so the cost benefit of keeping a vehicle longer, vs buying a new vehicle pays off for them.

On a brand new vehicle with new tech, there might even be more reason behind an extended warranty that covers things like the electronics/battery past the manufacturer warranty.

For me I think the 2.5l engine in the hybrid Maverick is pretty rock solid, and I'm hoping the eCVT is going to be reliable based on its simplicity(plus its under warranty 8 years/100k miles). The HVB is probably my main concern very long term (thinking 10-15 years 150k miles), but I'm willing to take the risks.
 

James St. Patrick

Well-known member
Joined
Aug 22, 2021
Threads
9
Messages
850
Reaction score
2,197
Location
MARYLAND
Vehicle(s)
2022 FORD MAVERICK Velocity Blue Ecoboost AWD
NONE OF THE ABOVE
 

psuarmy

2.0L EcoBoost
Well-known member
Joined
Aug 10, 2021
Threads
35
Messages
256
Reaction score
400
Location
Pittsburgh
Vehicle(s)
22 Maverick
Engine
2.0L EcoBoost
GAP is worthwhile if you're financing 80% or more of the value of the vehicle. You may also be able to get it through a Credit Union if that's who you're financing through or your insurance provider. But it's worth knowing how much those actually cover. What percentage over the value of the vehicle does it cover? Does it pay the insurance deductible? Is there any additional payout to help with a replacement vehicle?
Also check with your insurance. My insurance offers 10% over value if wrecked and it is only a few dollars a month. Way cheaper then gap insurance. It all depends on what percent of the vehicle you are financing. My last car I financed 100% (0% interest offer) of it so got cap coverage. The maverick I saved enough for a huge down payment so I don't need it.
 

olie64

2.0L EcoBoost
Well-known member
Joined
Aug 24, 2021
Threads
2
Messages
227
Reaction score
175
Location
indiana
Vehicle(s)
Order maverick
Engine
2.0L EcoBoost
Yeah I not getting anything because my dealership has there own 10 year/200000 mile warranty. Yes i have to do oil changes and stuff there but over long term it will be just fine.
 

NewBernWolf

2.5L Hybrid
Well-known member
First Name
Lynda
Joined
Aug 5, 2021
Threads
0
Messages
596
Reaction score
953
Location
New Bern, NC
Vehicle(s)
2017 Prius
Engine
2.5L Hybrid
I do understand some of the rational behind it. I think there are several reasons behind it. One goes along the lines of not wanting to have to worry about repairs, so they basically are prepaying their repair bill.

Another is that maybe someone plans to keep their vehicle to 150k miles. In which case being under warranty (in their mind) negates the need to buy a new vehicle, so the cost benefit of keeping a vehicle longer, vs buying a new vehicle pays off for them.

On a brand new vehicle with new tech, there might even be more reason behind an extended warranty that covers things like the electronics/battery past the manufacturer warranty.

For me I think the 2.5l engine in the hybrid Maverick is pretty rock solid, and I'm hoping the eCVT is going to be reliable based on its simplicity(plus its under warranty 8 years/100k miles). The HVB is probably my main concern very long term (thinking 10-15 years 150k miles), but I'm willing to take the risks.
Are you implying that there's a portion of this brand new vehicle that Ford DOESN'T cover for at least 36k miles - but that only an extended warranty would pay for?

I think I need examples. I've owned a lot of new cars over the course of my long life, and I have never needed or used an extended warranty before the manufacturer warranty expired.

In fact, I've only once had a big repair that MIGHT have been covered by an extended warranty, and that was a collapsed fuel tank at 128,000 miles.
Sponsored

 
 




Top