Is the extended warranty worth it?

[robvas]

The direct answer to your question: No.

Yup. If they weren't on the winning end of that one they wouldn't push them so hard

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[SSuperDave]

Again, never buy from an entity that solicits YOU. State registration records are open info by law, and the companies go thru them to get the info for their solicitations.
Whan you come to me with an extended warranty for a repair, I do all the dealing with them and receive payment directly from them, except for your deductible. Every warranty, including ESP has a list of non covered items, or exclusions, and as long as its not on that list, we are good. Ignore the salesperson that tells you its covered bumper to bumper.
Once in a a great while, they want to pay a lesser labor rate than our $195/hr. If its anyting over $180, I'll just do it for that to maintain my relationship with the customer. If its under that, you will be asked to pay the difference, ie they pay $145, and the repair is 10 labor hours, I'm gonna tell you up front that you'll have to pay the $500, or take it elsewhere.
That is one of the reasons that we don't take CarShield-AutoShield, they calculate their average labor rates to include Jiffy Lube type places and not just dealerships. Other than them, I don't remember the last time I had one under $180/hr.

I still like my job after 46 years, but make no mistake, I get up and go in there every day to make money. And I make it by doing the right thing by my company and my customers. And be aware, we know when a customer is trying to get over on us and it happens every day, and I don't allow it. Everyone gets what they ar entitled to , but those that conisder us "stealerships" and behave accordingly , get no slack. If you knew the $ value of what we do for free every month to help customers, you would be amazed. Our policy account runs about $15K each month, and management does not even question us unless it starts going over that amount. Ten years ago at Lexus, we did $30K/ as normal.

A person who sees thieves everywhere he goes, does so because he himself is one.

 

[jeffnudi]

I purschased the warranty mainly to cover the dash screen's but I would wait till your factory warranty is about to expire.

The screen on my 2016 EcoBoost Premium went out after the warranty had expired. Cost over $1400 to get it fixed. I think some of that cost was dealer service personnel incompetence. I purchased the warranty for my 2022 Maverick before the original warranty ran out for that reason. And I will purchase it for the 2024 EcoBoost Premium before that original warranty runs out.

 

[roadpilot]

The nice thing about the Ford ESP warranty is if you do not make a claim on it and you sell the vehicle, you can get a pro-rated refund. At least that's the way it worked when I sold my 2017 F350 Powerstroke in 2019.

That's said I do not typically buy the extended warranty, as I usually trade vehicles in before the five year powertrain warranty expires.

 

[SSuperDave]

I believe that you are correct on the ESP refund. Some of the aftermarket ones work the same way, but not many. We sell ESP at customer request, but have a company sponsored one that they activly push, its less $$ and is very good coverage. My only complaint with ESP is at the dealer service department level, getting an authorzation for anything over $500 is a multi step, often multi day process. The aftermarkets are a phone call and done most of the time. For engine/trans/high dollar stuff, they send an inspector to verify the issue. We know the inspectors and they know us, so its just a formality that may add a day to the approval process.
Interestingly, I was talking to a friend at another dealer recently, and we were discussing one of the insperctors who is a long time mutual friend. With us, this guy comes and goes, but the other advisor was complaing how hard he is on them. I can only suspect its because he's found that dealer to be sketchy and makes sure he does due diligence with them.

 

[mdoren252]

I believe it’s worth it. Bought a 2021 GT premium fully loaded new. I got the extended warranty from Ford, to 100,000 miles/10 years and 20 oil changes included. Cost only 4018.00. I’m now 70 and enjoy it very much. I’m getting too old to do the maintenance so if anything goes wrong it’s covered but the wear items. It’s a summer only car. My favorite toy.

 

[smurfslayer]

I was talking to a friend at another dealer recently, and we were discussing one of the insperctors who is a long time mutual friend. With us, this guy comes and goes, but the other advisor was complaing how hard he is on them. I can only suspect its because he's found that dealer to be sketchy and makes sure he does due diligence with them.

Thanks for providing this insight, I think this will help folks decide on whether or not to get the warranty and some insights on which option if they decide. Info from that side of the counter is super helpful !

 

[fishinrich]

If you plan on keeping the car for whatever the length of the warranty is it might pay off. I always end up selling after 3-4 years.

 

[Killshot58]

I have a 2024 Mustang GT Premium...who has bought the extended warranty from Ford and what did you purchase?

Do not purchase any of the warranty items offered to you on the same day of the car purchase. Those finance guys are slick! It seems like a great deal at the time, but it adds up very quickly. Just say no and walk away. You can always purchase later, but it's very tough to cancel and recoup the money. Don't ask me how I know!

 

[SSuperDave]

This ^^^^. The only thing I ever get is gap insurance at time of sale

 

[Dxm]

I had bought it on for ‘07 Mustang. In the end it made no difference, there were lots of hidden costs and service fees for all the repairs I had to have made. It would have been cheaper if I went to my local mechanic and paid out of pocket without any extended warranty.

 

[roadpilot]

Do not purchase any of the warranty items offered to you on the same day of the car purchase. Those finance guys are slick! It seems like a great deal at the time, but it adds up very quickly. Just say no and walk away. You can always purchase later, but it's very tough to cancel and recoup the money. Don't ask me how I know!

When I have purchased an ESP (rare), I just gave my dealer the Granger/Zeigler price, and they matched it.

 

[roadpilot]

This ^^^^. The only thing I ever get is gap insurance at time of sale

I get gap insurance through my insurance company. It costs me under $20 for the YEAR, regardless of the value of the vehicle or loan.

 

[roadpilot]

I had bought it on for ‘07 Mustang. In the end it made no difference, there were lots of hidden costs and service fees for all the repairs I had to have made. It would have been cheaper if I went to my local mechanic and paid out of pocket without any extended warranty.

AFAIC, the primary purpose of the ESPs is to avoid having to pay a monster bill for a major repair (engine, trans, etc.), not necessarily the nickel and dime stuff.

 

[RLE55]

The screen on my 2016 EcoBoost Premium went out after the warranty had expired. Cost over $1400 to get it fixed. I think some of that cost was dealer service personnel incompetence. I purchased the warranty for my 2022 Maverick before the original warranty ran out for that reason. And I will purchase it for the 2024 EcoBoost Premium before that original warranty runs out.

Testimonial, that ESP's can be a good thing and not always a waste of money.

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