My Ford Dealer sold me $5000 premium maintenance plan, is it Worth it?

[rnctacardon]

Hi, when I bought my Mach E I was offered the Ford Maintenance plan and thinking that I don’t know what could go wrong to the battery or the computer that manages these… I bought it. It is less than 30 days ago so I should be able to cancel it. I was reading the manual last night and saw that the Battery is actually warranted up to 8 years. So now I’m thinking this Premium maintenance is not worth the $5000 that I bought it for. Did any of you purchase the Premium Maintenance plan too? If so How much?

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[generaltso]

Cancel ASAP.

 

[Jeffvisor]

Hi, when I bought my Mach E I was offered the Ford Maintenance plan and thinking that I don’t know what could go wrong to the battery or the computer that manages these… I bought it. It is less than 30 days ago so I should be able to cancel it. I was reading the manual last night and saw that the Battery is actually warranted up to 8 years. So now I’m thinking this Premium maintenance is not worth the $5000 that I bought it for. Did any of you purchase the Premium Maintenance plan too? If so How much?

How long do you plan to keep the car? $5K is a very high amount, extended warranties are on of the biggest profit makers for a dealer or anyone that sells them.

 

[macchiaz-o]

I did not. If I were you, I'd cancel it. I can't think of any maintenance that would add up to $5,000 in the first 10 years.

 

[rnctacardon]

How long do you plan to keep the car? $5K is a very high amount, extended warranties are on of the biggest profit makers for a dealer or anyone that sells them.

I plan to keep the car for at least 5 years, but that is just the Premium Maintenance Plan. They sold me an triton bumper to bumper extended warranty for a separate $5300. So the maintenance plan and the extended warranty in total is $10,300!!!

 

[Pibbman]

You could have gotten a bumper to bumper (except high voltage battery) service plan backed directly by Ford for up to 8yr/150k miles with $0 deductible for $3195 if you were really looking for that, and that would have pretty much did almost everything you were looking for.

there is very little maintenance needed for this car.

 

[rnctacardon]

You could have gotten a bumper to bumper (except high voltage battery) service plan backed directly by Ford for up to 8yr/150k miles with $0 deductible for $3195 if you were really looking for that, and that would have pretty much did almost everything you were looking for.

there is very little maintenance needed for this car.

What is this called and where do you get it? Thanks in advance

 

[OlyPen]

I plan to keep the car for at least 5 years, but that is just the Premium Maintenance Plan. They sold me an triton bumper to bumper extended warranty for a separate $5300. So the maintenance plan and the extended warranty in total is $10,300!!!

Yeah, you're not going to see anything from that but frustration. Cancel and get the refund while you still can.

 

[rnctacardon]

Yeah, you're not going to see anything from that but frustration. Cancel and get the refund while you still can.

1st thing Monday morning!

 

[Jeffvisor]

I plan to keep the car for at least 5 years, but that is just the Premium Maintenance Plan. They sold me an triton bumper to bumper extended warranty for a separate $5300. So the maintenance plan and the extended warranty in total is $10,300!!!

Yeah, you're not going to see anything from that but frustration. Cancel and get the refund while you still can.

Agree!

 

[phidauex]

I plan to keep the car for at least 5 years, but that is just the Premium Maintenance Plan. They sold me an triton bumper to bumper extended warranty for a separate $5300. So the maintenance plan and the extended warranty in total is $10,300!!!

Just adding another voice here, you don't want any of that. First of all, the existing manufacturer warranty is quite good, especially on the parts that are "new", the battery and the electric motors. The car is simpler than an ICE car, not more complicated.

Second, extended warranties, by definition, are never a good buy. The company will estimate how much they think it will cost to maintain an average vehicle, then they will double it, triple it, or increase it by however much they think you will be willing to pay. Sure, they could be wrong about the likelihood of failures (but they have a lot more info than we do), and sure, random shit happens that will make them have to pay out more than the $10k occasionally, but they wouldn't make the gamble if they didn't know they were going to win.

(Incidentally, extended warranty providers that gamble poorly and take on more liability than they can pay for still have a get-out-of-jail-free card - bankruptcy. They'll NEVER pay more in claims than they took in.)

If you have $10k to spare, put it in an interest-earning account and run your own extended warranty. If your car doesn't break, spend it on fixing your washing machine, TV, phone, and every other appliance that you shouldn't be buying extended warranties on. Why bet against the house when you can play the game yourself?

 

[Pushrods&Capacitors]

Good lord, I don’t even know where to begin. $10,300 for a maintenance plan and extended warranty? Did you say yes to them or just sign papers and are now seeing them? I can’t wrap my head around how this happens.

 

[silverelan]

I plan to keep the car for at least 5 years, but that is just the Premium Maintenance Plan. They sold me an triton bumper to bumper extended warranty for a separate $5300. So the maintenance plan and the extended warranty in total is $10,300!!!

You made the F I guy's day, that's for sure. I'm glad you're going to crush his commission hopes and dreams.

 

[CaPhil]

I hate to be blunt but your dealer is a crook. If the dealer will not cancel, contact Ford directly. I am sure Ford would not condone this type conduct from one of their dealers.

 

[rnctacardon]

Just adding another voice here, you don't want any of that. First of all, the existing manufacturer warranty is quite good, especially on the parts that are "new", the battery and the electric motors. The car is simpler than an ICE car, not more complicated.

Second, extended warranties, by definition, are never a good buy. The company will estimate how much they think it will cost to maintain an average vehicle, then they will double it, triple it, or increase it by however much they think you will be willing to pay. Sure, they could be wrong about the likelihood of failures (but they have a lot more info than we do), and sure, random shit happens that will make them have to pay out more than the $10k occasionally, but they wouldn't make the gamble if they didn't know they were going to win.

(Incidentally, extended warranty providers that gamble poorly and take on more liability than they can pay for still have a get-out-of-jail-free card - bankruptcy. They'll NEVER pay more in claims than they took in.)

If you have $10k to spare, put it in an interest-earning account and run your own extended warranty. If your car doesn't break, spend it on fixing your washing machine, TV, phone, and every other appliance that you shouldn't be buying extended warranties on. Why bet against the house when you can play the game yourself?

Good lord, I don’t even know where to begin. $10,300 for a maintenance plan and extended warranty? Did you say yes to them or just sign papers and are now seeing them? I can’t wrap my head around how this happens.

It was explained like it will be so risky not to get them until I saw the included warranty so I decided to see what it cost others here and now feeling horrible for purchasing them

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