benk016
Well-Known Member
- First Name
- Ben
- Joined
- Nov 12, 2020
- Threads
- 37
- Messages
- 3,013
- Reaction score
- 4,671
- Location
- Tulsa, Oklahoma
- Vehicles
- 2021 Mustang Mach-E GT
You are confusing the Service Plan with a maintenance plan. The Premium Care plan he has a contract for is extending the factory warranty to 6 years 100,000 miles with a $100 deductible.I’ve asked before and I’ll ask again: What peace of mind are you buying with a $$5000 Service Plan (and it’s a service plan, not a warranty) on a new electric car that requires almost no service, and comes with a generous factory warranty? Windshield wiper Blades? tire rotation? Brake pads?
Listen,, If you still want to own the car beyond the end of the factory’s warranty period, and you’re worried about stuff like the battery, you can always buy the service plan then, as long as you’re still,within the original warranty period.
You can flat cancel a service plan on your contract as Long as you haven’t used it, but you will likely receive a refund from the dealer. The contract will not be revised.
I actually new a guy once who always bought the service plan and then cancelled it after the contract was sent to the bank. He was essentially borrowing the value of the service contract from the lender at a rate usually much lower than the prevailing signature rate.
At $5000 it is not worth it, but at $1500 it may be for OP. I've had it on several of my Ford's and its paid for itself every single time.
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