Question #12: Flood Ford ESP; When to buy?

[Garys Blue Raptor]

I recently got a 2018 with 33000 miles and got a 8 year (technically 6 being a 2018) and 100,000 warranty for $1620. Get it on line, same warranty from Ford but far cheaper than dealer. Did the same for my other cars I owned and get a couple repairs on these cars like leaky oil pan etc and it will pay for itself fast. I'm not risking it without a warranty but that is my opinion.

 

[wheelman55]

I would LOVE to start an internet argument with you about this ... so ...

YOU’RE RIGHT!
so there.

In all seriousness, you’re correct, but for that matter, auto insurance is even more of a cash cow. Most people don’t need an extended warranty, unless you’re “That Guy”. I’ve made my wife purchase it on her last 2 vehicles, Nissan and subaru respectively. The Nissan warranty paid for itself, and I wish I’d made her buy a longer one because she paid more after that one started becoming a problem child. The ‘Roo has not been very problematic. I did this to help instill upon her that she needed to do routine maintenance or jeopardize the warranty she spent all that money on. I’m not sure it helps but she is pretty diligent about following the schedule.

All insurance works that way

Good to know, I planned to call them and clarify. You are outside of your factory 36k?

yes...outside of original warranty at 42k miles.

 

[realjones88]

For every person that has total claims paid that exceed the premiums they have paid there are literally thousands that do not. Quite simply insurance companies are in the business of making money and if they paid out more in claims than they received in premiums they wouldn't be in business for very long.

Yes if I owned a thousand Raptors buying a thousand extended warranties would not make financial sense. I don't know how many Raptors you own, but I own one. Spending ~$1500 to cap my repair costs at ...$1500 plus deductibles is worth it to me. By getting no warranty I am saving at most $1500 and losing potentially $10K+ if something expensive breaks. Knowing my repair cap has intrinsic value.

Financing a vehicle at 2% when the market is returning 8+% is also not a poor financial decision either.

The 8/125K is really just a five year extension from your inservice date...lame way of advertising it, but all car companies do it that way.

 

[Lupa]

Most are not going to like this comment, but here goes. If you make a purchase and you have to insure for something less than 20% of the asset value then you probably really couldn't afford to purchase it in the first place. But the whole big auto and the parallel auto finance system is set up to enable the purchase of vehicles by people who really shouldn't. Unfortunately a large percentage of people's self esteem is falsely tied to the vehicle they drive hoping to impress people they will never meet and probably wouldn't like anyway. Not saying that is the case with most on this forum, most of us appreciate a fine truck that is extremely capable.

 

[BroncoAZ]

Most are not going to like this comment, but here goes. If you make a purchase and you have to insure for something less than 20% of the asset value then you probably really couldn't afford to purchase it in the first place. But the whole big auto and the parallel auto finance system is set up to enable the purchase of vehicles by people who really shouldn't. Unfortunately a large percentage of people's self esteem is falsely tied to the vehicle they drive hoping to impress people they will never meet and probably wouldn't like anyway. Not saying that is the case with most on this forum, most of us appreciate a fine truck that is extremely capable.

I don’t disagree with you about people buying more car than they can afford who really shouldn’t. I see people who earn middle class wages with $150K worth of new cars in the driveway. They are the same people who didn’t put 20% down on their mortgage and are in debt to their eyeballs.

The warranty is not an issue of needing to insure for costs less than 20% of the asset value, it’s a calculated decision to save money on repairs over time. I’m making a calculation that a high performance truck will have more than $2350 worth of covered repairs while I own it. On previous vehicles my calculation has been correct and I’ve saved $3K-$9K in repair costs over the cost of the warranty.

I’m not immune to vanity related to what I drove, but I’ve been driving something I don’t care about for the past 4 years. Not because I couldn’t afford a Raptor, but trying to be practical. I’m officially done with that. I will use some of the capabilities of the Raptor offroad and will enjoy it daily.

 

[911 Crazy]

Most are not going to like this comment, but here goes. If you make a purchase and you have to insure for something less than 20% of the asset value then you probably really couldn't afford to purchase it in the first place. But the whole big auto and the parallel auto finance system is set up to enable the purchase of vehicles by people who really shouldn't. Unfortunately a large percentage of people's self esteem is falsely tied to the vehicle they drive hoping to impress people they will never meet and probably wouldn't like anyway. Not saying that is the case with most on this forum, most of us appreciate a fine truck that is extremely capable.

Dave Ramsey, is that you???

 

[GCATX]

First vehicle I have purchased the extended warranty for. In the big scheme of things, it's only 2-3% of the purchase price and it's transferable. Mine runs until 125k, I figure I will trade or sell it before then and it will give the next owner some piece of mind, so there is that angle as well.

 

[Simplejack]

not sure if prices changed but here's mine from almost 2yrs ago

Home

FAQ

Contact Us

Thank you for your order. Your order will be processed as soon as possible. Please verify the information below. Should you need to change anything in your order please contact Gardiner at [email protected].

You will not be charged until the plan is registered. Please do not worry about going over the time or mileage of your original warranty now that you have submitted your Ford ESP order to us.

Copies of your contract will be sent to your email in the next 10 business days. If we have any issues we will contact you. There is nothing further you need to do.

We use the submission date and mileage to process the warranty. Please do not worry about going over the time or mileage of your original warranty now that you have submitted your Ford ESP order to us.

Did you know we also can sell you Ford Factory Maintenance Plans? Not only are they below most dealer's prices, but you will not have to pay the high labor rates most dealerships now have. You can literally save yourself thousands. It even covers wear and tear items, such as brake pads, wiper blades, and spark plugs. Take a look at the brochure here. For pricing and ordering see our website.

Your Order ID:
Placed: 2019-08-22 10:14:16


Owner Information....

Vehicle Information

Make: Ford
Year & Model: 2018 F150/F-150 Raptor
Vin Number: 1ftfw
Purchase Date: 08/24/2018
Mileage: 12531

Ford Extended Service Plan

ESP Contract: PremiumCARE

$100 Deductible

5 years

100000 miles
Options:

First Day Rental: Yes

Enhanced Rental: No

Lighting: No

Key Services: Yes

Price:

$1290
Plan Bochure: Download Here

Gardiner Reynolds
Flood Ford
(888)318-8534

 

[SamIAm]

Don’t be cheap! The extended warranty is nothing compared to repair prices!! The longer the warranty the better. And yes I added upgraded rental, all lights , and even for lost keys

 

[Oldfart]

Most are not going to like this comment, but here goes. If you make a purchase and you have to insure for something less than 20% of the asset value then you probably really couldn't afford to purchase it in the first place. But the whole big auto and the parallel auto finance system is set up to enable the purchase of vehicles by people who really shouldn't. Unfortunately a large percentage of people's self esteem is falsely tied to the vehicle they drive hoping to impress people they will never meet and probably wouldn't like anyway. Not saying that is the case with most on this forum, most of us appreciate a fine truck that is extremely capable.

I agree with Bronco AZ, in that I think a lot of what you said is true as far as many people being in way over their heads financially in general. I really think a long warranty comes down to cost/benefit. I'm betting I will need repairs down the road that will exceed the cost of the warranty. It's really not about overall finances.