Who bought an extended warranty?

[leeman]

If you bought an extended warranty who did you buy it from? And how much did it cost you? Been searching and looks like floodfordesp.com is the cheapest.

Ford customer service ended up giving me an extended warranty for my Mocky due to all the problems I was having so I have 75,000 miles or six years or something like that full coverage

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[snowdoggie]

I purchased ford protect maintenance & ford protect esp but its not showing up on my app... do I have to call the dealer or is it baked into the regular warranty in the app?

 

[AKgrampy]

Very sorry AKgrampy, not picking on you specifically, but this is the exact reason why extended warranties should generally never be purchased. They are a money making scheme pure and simple. There will always be the rare occasion when they benefit someone but for the vast majority, the house win. Extended warranties are for people who are bad at math and easily suckered by the salesman in the backroom convincing you the electronic display will go out and cost a fortune. In fact, this exact fear has been mentioned in this thread several times by folks who have been conned into buying the extended warranty. These money making schemes work too, as evidenced by over 50% of people who have been suckered into throwing their money away on them.

No worries and as I said I only purchased them because they were at cost. As a conservative person they were worth the price to me but I would never purchase one if I could not get it at dealer cost after seeing how much they can be marked up. Many people also do not understand that if they cancel them they have to also ask for a refund from the dealer that marked up the warranty as Ford only refunds on the base warranty cost. I know people have paid 200% mark up on these policies so they can certainly be money makers!

 

[EVandSolar]

The finance guy in the backroom is not your friend, and has mastered lying and making you think he's giving you a deal.

For example, he offers the extended warranty for $2,000 to cover your electronic console screen that the factory warranty won't cover after three years, or whatever other "fear of loss" sales tactic he uses on you.

You, as a savvy consumer, say no no no, I'm way too smart for that. So now the salesperson uses tactic number two: "greed", and gives you "the deal".

"Tell you what friend. I'm only trying to help you. I really don't want you to have to pay thousands of dollars to fix "insert random electrical item repair at a high cost i.e. fear of loss", so I'm going to make an exception and let you purchase this extended warranty at dealer cost for only $1200. We won't make any money off(a 100% lie) of this but I can't in good conscience let you walk out of here without this coverage."

You didn't just get a great deal. You just didn't get suckered into paying max price for the rip off warranty. The dealer still made a massive profit, guaranteed.

 

[Nklem]

Just wait. It does nothing until the factory warranty is over. Buy it at 35k miles or 35 months…so much can change in 3 years and they are prorated even if you do not use them. Flood is the cheapest. If you buy, get lighting! A headlight bulb is nearly $2k and they do not last forever.

 

[generaltso]

Just wait. It does nothing until the factory warranty is over.

That‘s not entirely true. I’ve used the first day rental benefit several times.

 

[RickMachE]

So I went to my dealer today to ask some questions about our ESP. Some points to consider: compared to Ford Protect (whatever the name is), our premium was half-priced. Now that’s assuming same coverage.

The dealer plan is good nation-wide at both Ford dealerships and non-Ford repair places. It’s good to have a plan associated with a dealer - likely to be able to reach the repair people. Ability to use non-OEM parts is to allow local mechanics to use simple parts from an automotive store to get rolling again. Although it’s likely any real service work will be done by a Ford dealer.

Also, it’s likely the dealership has existed for decades. How long has Granger been around and can you reach them by phone when necessary? Before making any decisions to cancel, if like to know from an owner who has actual experience using a third party, Granger ESP - how was the service?

You are confused.

Granger, Zeigler, Flood all sell the FORD WARRANTY, good at every Ford dealer. You bought a 3rd party warranty. They are never as good.

You likely paid more for what you bought than the online dealers charge, but you can go to any of their sites and price it.

Stop listening to your dealer. Or ask them how much profit they made on what they sell you vs the Ford warranty...

 

[BigMach-E]

It’s a first model year vehicle, with what was then a brand new propulsion system for the brand. And, it’s a Ford. I understand it’s a calculation (how much could a repair cost vs. how much does the warranty cost). To me, for the piece of mind that the service department at the dealership doesn’t have me over the barrel in almost any situation is worth it.

Yes, the most expensive and most likely system to have issues would be the PowerTrain and battery over 8 yr/100k miles, but there are so many other things to could fail.

 

[Guss-E 2021]

I did. Thanks for reminding me .

 

[jeffdawgfan]

A well know and respected consumer activist (at least in the Atlanta area) by the name of Clark Howard gave some very good advice on extended warranties some years back that I still follow. Just Don't Do It. They are never a good investment. How do you think these insurance companies make money??? It is not by having to pay out many claims.

 

[DennisD]

The finance guy in the backroom is not your friend, and has mastered lying and making you think he's giving you a deal.

For example, he offers the extended warranty for $2,000 to cover your electronic console screen that the factory warranty won't cover after three years, or whatever other "fear of loss" sales tactic he uses on you.

You, as a savvy consumer, say no no no, I'm way too smart for that. So now the salesperson uses tactic number two: "greed", and gives you "the deal".

"Tell you what friend. I'm only trying to help you. I really don't want you to have to pay thousands of dollars to fix "insert random electrical item repair at a high cost i.e. fear of loss", so I'm going to make an exception and let you purchase this extended warranty at dealer cost for only $1200. We won't make any money off(a 100% lie) of this but I can't in good conscience let you walk out of here without this coverage."

You didn't just get a great deal. You just didn't get suckered into paying max price for the rip off warranty. The dealer still made a massive profit, guaranteed.

You are spot on.

Almost all add-ons (paint protection, carpet protection etc. along with extended warranties) are what the Dealerships make most of their profit. They sucker the ill informed to purchase these items before they walk out the door and think about it a little more.

I purchased a new car back in 2015 and I got a smoking deal on it. Unfortunately the "paint protection" was applied before it was listed for sale. It was their way of suckering $500 more. The advertised price on-line didn't have this line item so they concealed it quite nicely.

To make a long story short, Toyota was giving $5,000 off the sticker price so it was still a good price but the Dealership took their cream off the top before turning them onto the customers. In effect, it was actually $4,500 off and not $5,000

Fast forward 2 years later. I had a few chips and light scratches on the car and I brought it in to "get fixed". It turned out that it was totally useless. It basically was a $500 wax job that did nothing other than pad the pocket of the Dealership.

To make a long story short, this is what people need to do going forward.

Never purchase anything beyond the purchase price of the car. Keep the money that you saved and place it in a "repair" account. After a few purchases, you will be able to afford an unexpected repair past factory warranty and have money in the bank.

Or.......................................

Listen to people on this forum that advised people to purchase these MME for 5 - 10 k over sticker and purchase these extended warranties that many times are useless in the end.

Just remember this simple fact. The Dealerships are pushing this crap because they make money on suckers that blindly go into more debt without knowing why or how it happened?

This is the World we live in.

 

[Richard L.]

We purchase life insurance to protect our family. It only makes sense to protect our vehicle investment.

 

[devmach-e]

We purchase life insurance to protect our family. It only makes sense to protect our vehicle investment.

Life insurance is at a completely different level than that of an extended warranty. Different cost and benefit structure, and satisfies a much larger need.

 

[DennisD]

We purchase life insurance to protect our family. It only makes sense to protect our vehicle investment.

That is why I have car insurance. I am protecting my "investment" in case of an accident. That is apples to apples unlike the warranty comparison.

I do however drop full coverage to liability only when the car is valued at $5,000 or less.

Once again, if one keeps the money in a separate account (instead of giving it to the warranty company) for the repairs past the factory warranty, you in effect are saving money and you are able to protect your family via inheritance like you suggest with the life insurance. And btw, chances are the repairs won't fit into the their definition of what is warranted.

The term "Extended warranties" should be changed to "extended payments". In the end, it will cost more on average.

 

[pottslaw]

I bought the Ford ESP for my 2021 (Job 1) from Lombard Ford in Connecticut. I live in Arizona and purchased the ESP online.

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