Extended Service Plans - are they worth the expense?

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Jim Galvin

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Ford offers Extended Service Plans that are advertised to save the consumer money in the long run. I kept my 2001 Sport Trac for 9 years /10 months and racked up close to 150,000 miles on it. I can honestly say that my maintenance bills were reasonable for the duration of time that I owned it and the amount of miles that I put on the vehicle. When I traded it in (this month) for a new 2010 ST Limited, I was faced with the decision to purchase an ESP. Anybody have any thoughts on the Premium Extended Service Plan, as well as the Premium Maintenance Plan? My new ST has all the extras including the NAV system, moon roof, etc. the ESP would be in effect for 6 years or 100,000 miles.



Thanks for your thoughts, Jim G
 
In my opinion, it is worth it. You just never know what can happen. If you can afford it, get it. Its better to have it and not need it, than need it and not have it. Just my 2 cents.
 
JimG,

First, understand that regular warranties and Extended Warranties do not cover normal maintenance items like belts, brakes, oil changes, tires, filters, etc.



Many emission control items are covered by the Federally mandated emission warranty for 8 years or 80K miles. The problem is that the manufacturer gets to pick which emission items it warranties. Often you don't know if it's covered until after the dealer makes repairs and you often have to take the invoice to the parts department where they will determine if any of the parts are covered under the Federal warranty. If the part is covered, you should get a refund for the parts and labor needed to remove/install the new part....but only for the covered parts. Oddly enough, most manufacturers do not cover the PCM computer under the Federal Emissions warranty?



Where they do cover you is for catastrophic failures like the engine, transmission, differential, and can include other expensive repairs like A/C, Suspension and even some can cover door locks, power windows, seat motors, etc.



...Rich



 
Extended warranties are around for 1 reason only...to make somebody else money. The majority of the cars on the road will not see 100,000 miles in 6 years, most will be in the 70,000 mile range and realistically most of the systems will last at least 6 years or 70 some thousand miles. the way I see it you are actually only getting 3 years and maybe 36,000 miles by purchasing one of these contracts because the mfg's original warranty covers the first 3 years 36,000.



JMO
 
Yeah, I think they are worth the money. Especially if you get it at time of delivery, as this could save you a few bucks. I bought a 5yr/100k miles premium plan. Most things are covered with a $100 dollar deductible. Any modifications to your vehicle that may be associated with a failure are NOT covered. Just found out saturday that the little door that covers the visor vanity mirrors had broken. This was not covered? :angry: Had to order 2 new complete visor assemblies for almost $200 and I have to install them myself to save some $$. So read what is covered/not covered :banghead: and try to get the best you can afford. BC
 
If I remember from my Carmax days eight year ago, there are two different types of warranties, Named Component and Named Exclusions, The Named component covers items that are specifically mentioned in the contract, named exclusions mention everything that specifically not covered. Sounds kinda the same but very different. Also make sure they cover "cause and effect", which means, if the battery blows up a spews acid all over your hood, the hood would also be covered....Am I stating this correctly?

Warranty philosophies differ, depends on how many miles you put on the vehicle per year.

The average is still 12-15K per year, in Atlanta many people drive 18-22K per year.

Most people run out of miles before time....
 
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My story is a little different. When I bought my '05 from a Ford dealer in March of '08, I asked them to sell it to me as a certified used. It cost me $470 to have it certified, but as it happened, Ford had a $500 rebate on certified cars during the time period. I netted $30 on the deal. I wanted the certification for the 90 day bumper to bumper that came with it. However, part of the certification was a 6 year, 70k power train warranty. Last year I had a rear end whine develop, and it was taken care of under the warranty (they replaced the ring & pinion and rebuilt the differential for $100 deductible). Funny thing is, on a new vehicle, I would never buy an extended warranty before and probably would not do it now.

:driving:
 
When my tranny crapped out at month 35 of a 36 month extended warranty, I was really happy to have spent the extra money. I say get it.



Had that tranny lasted 31 more days, I would tell you not to bother.



Its completely up to you...
 
DoctorCAD says:
When my tranny crapped out at month 35 of a 36 month extended warranty, I was really happy to have spent the extra money.
Click to expand...



I guess I am going to be the naysayer.



Yes, I'd be really happy I had an extended warranty in that situation.



But I'd be really SAD that I purchased a vehicle that had a tranny problem in its first few years of life...an all too likely occurence on the older Explorers, IMHO.



Trannies going are the #1 reason quoted here and on most any car forum for that matter as given by those in favor of having an extended warranty. Almost as if it has become the norm that a tranny should go well under 5 years of car ownership - - - Hint folks: They should not. We should expect more. We should demand more.



For me, I don't buy extendend warranties unless they are manufacturer's warranties and are almost GIVEN away.



If I have to spend close to a couple of extra thousand, or more, to get my new vehicle's coverage extended to 5 years (for example) so that I can "sleep at night", knowing that I won't have any costly repairs until well after the vehicle is paid for and "old", well, then, frankly, I probably purchased the wrong vehicle from the wrong manufacturer.



I'm really thinking car ownership sucks. For me, the love affair is over. Probably in no small part due to the recession and the fact that I have the "3 year blues" (our new cars are 3+ years old...kinda like the 7 year itch), and I know there is no new car in our future soon. Ha. Seriously, though, I think the next few new cars for us, will be 1 to 2 year old used cars with some factory warranty left, that we will keep for a few years, then unload...ride the "sweet spot" of the depreciation if you will. In that way, I won't worry about an extended warranty, or having a car too long.



TJR
 
Extended warranties are around for 1 reason only...to make somebody else money. The majority of the cars on the road will not see 100,000 miles in 6 years, most will be in the 70,000 mile range and realistically most of the systems will last at least 6 years or 70 some thousand miles. the way I see it you are actually only getting 3 years and maybe 36,000 miles by purchasing one of these contracts because the mfg's original warranty covers the first 3 years 36,000.
Click to expand...



l1tech has it right. Extended warranties make tons of money for the seller. Nothing worse than when buying a car, TV, or whatever, is the next thing out of their mouth is "would you like to get an extended warranty." If I need an extended warranty, maybe I should consider another product. I never purchase an extended warranty and have saved thousands of dollars.
 
I have and I havent. The 2 times I did on a car. I was glad I did.

My theory nowdays is if you have the money to save. Save it and draw intrest. Dont spend it on dumb stuff. If you ever need it for the car it is there. If you dont you made money.

If you think you will never have the money for very expensive repair. You might want the warranty.

That was why I bought the 2 warranties in the past. I wasnt as financialy stable, back then.
 
I, too, have and haven't purchased extended warranties. I made the mistake once of buying an aftermarket warranty that was advertised as a bumper-to-bumper warranty only to find out that the brake master cylinder on my 1994 Ranger I had at the time wasn't covered. I pitched a monsterous fit and they gave me back most of my money (they pro-rated the refund). Both my vehicles I have now are under the Ford CPO warranty. My F150's security module crapped out just after I bought the truck and it was covered under the initial bumper-to-bumper portion of the CPO warranty. The biggest difference for me as to whether or not to get an extended warranty is the fact that I actually work for a Ford dealer and can either get things cheaper or with a little help from my friends.
 
The last 2 vehicles we purchased, 2004 Freestar & 2007 Focus, we did not go with an ext warr. but the Wife and I purchased a used 2006 Lincoln Zephyr back in November of last year, still under factory warr. It is FULLY loaded, including Moonroof, Nav, Heated & Cooled seats, Dual digital climate control, THX sound system, Traction control, Auto HID lights, Auto up and down windows, and power "everything you can think of"..



On this one, we decided to go with the ext warr just because of all the extras. Factory warr is 4 years, 50,000 miles, and it just went out of factory warranty last month. We got the 7 year, 100,000 mile warranty for $1710.00 (They originally quoted $2010.00 but I shopped around, and brought in the printouts from the web, and they came down to within $25 of others) This is for the Ford Premium Care plan, covers everything except normal wear items. (All mechanical and electrical is covered, with $100 deductable) We now have "Piece of mind" for the next 3 years. Just my $.02
 
Dave,



Wow...that's a lot. $1700 to extend your warranty for another 3 years. Almost $600/year for "peace of mind.". Still, given that the car was 3 years old when you bought it, if you plan to keep her a while, it might pay off for you. Essentially Ford is betting the car will be trouble-free for another 3 years. You are betting it won't. Who actually wins that bet; either way?



I also bought a 2007 Focus a few years back, new. I *DID* have its coverage extended to 7 years under the "Ford Premium Car Plan". Before calling me a hypocrit, recognize that I only paid $180 for that extension AND I paid that with a check when picking up the car (try never to finance over time any warranty...really adds to the total cost).



Yep, that's right; $180 to go from 3/36 to 7/70. Seemed like a no-brainer. That car is now 3 years old, out of factory warrany, and has just over 40k miles. Will likely unload before it hits 70k.



TJR
 
TJR, At the time we bought this car, I had just replaced the head on my sons escort, and the plenum assembly under the dash of my ST which took me the better part of 2 days. (R&R entire dash from windshield back, huge PITA) I have always done my own work, but I am getting tired and frustrated in my older years. Currently we have a 95 Escort, 01 Escort, 01 Taurus, 01 ST, 06 Lincoln, 61 Galaxie, and 2 boats. I have more than enought to keep up with, just in maintenance! We had a long time to research this from November 2009 to August 2010, so we read reviews, looked at possible and other peoples documented failures, and the potential repair cost, and talked to a few other owners. We also do plan to keep the car for a long time.



There was a TSB on this car for the ASAIN 6 speed tranny having sluggish shifts. I felt it happen only twice. Took it to have it checked, and they found metal shavings in the pan. Ford approved installing a complete reman tranny, but it only carried the remainder of the original factory warranty which was about 3 months. (OOW replacement cost would have been over $4K)



The extended warranty was not financed, we wrote a check for it 6 days before the factory warranty expired. I'm not one to throw away my $$, and I am very frugal, but right now we decided this was the best move for us.
 
Dave, check out my post above. There is plenty under the "premium" plan that ain't covered. Also note "budfromballground" reply about this, Buyer beware!! BC
 
The Power train is covered for 5/60 from the factory.



Bumper to bumper is 3/36 and road side assistance and safety system is 5/60



IF i ever bought an extended IT was only to take the 3/36 to 6/60 any way.....



and at $1700 thats way too much in my eyes..



Todd Z
 
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Bob C. I have it in writing what is, and is not covered. My main concern is with drivetrain, (Note tranny issue in my previous post) and factory electronics. ALL of this is covered. Seat heaters, cooling air pump, Nav, Electronic cluster, etc...



Since Bud mentioned the hood example, I forgot that we also have a 7 year warranty (From DOP) on all interior leather, trim, and carpet, and a 7 year warranty on all painted surfaces for fading, peeling, staining, etc... The drivers side seat bolster had a spot where the leather was very worn, and starting to crack. The entire leather cover was replaced.



Todd, Lincoln is 4Y/50K, not 5Y/60K. At least for my 06 it is...



OK, I gave my $.02 worth, and have now taken my verbal bashing... :sad:

We will just have to wait & see if it was a wise move or not.
 

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