"The Mechanic" extended warranty

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Jose MonteroJr

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Hello All,



I just purchased an 07 ST XLT and am considering an extended warranty. I was originally thinking about purchasing a genuine Ford ESP plan, but the finance mgr showed me a brochure for a warranty called "The Mechanic" which is owned by Resource Automotive(an Aon division). They have varying degrees of plans: Powertrain, Silver, Gold, Platinum.



does anyone have any experience with these plans and can recommend/not recommend them?

does anyone know how these plans differ from the geniune Ford ESP?



Thanks all.
 
How long do you typically keep vehicles? If you don't keep them WELL over 6 or 7 years, on average, then I wouldn't extend the 07's warranty.



TJR
 
Your 07 has a 5yr/60k powertrain warranty, which should cover most of your concerns for getting an extended ( I would think). I don't think an extended would pay for itself for much of the petty stuff that would go wrong long-term.



From the Ford Website:

This warranty provides coverage for the engine, transmission and more. It includes no deductibles for repairs, and the warranty is fully transferable to future owners at no cost. You will also receive complimentary roadside assistance for the entire warranty period, including towing, fuel-fill and lock-out services.



The 5-year/60,000-mile powertrain limited warranty is part of our commitment to deliver more standard safety equipment, more advanced technology, more value, more enjoyment, and most of all, more satisfaction from all our vehicles.



We want everything about your Ford to work as hard as you do.



*See your Dealer for limited-warranty details. Includes 2006 and 2007 model year Ford products regardless of the launch date. 2007 model year Focus coverage will be greater. 2007 model year E-Series and F-Series (up to F-550) diesel engine warranty coverage is 5 years/100,000 miles. Unique hybrid components have 8-year/100,000-mile limited-warranty coverage. A 2006 Model Year Ford vehicle sold on or after July 14, 2006 will be covered by a complimentary 5year/60,000 Mile Ford ESP PowertrainCARE extended service contract with a $100 deductible. For 2007 Model Year Ford products the warranty is fully transferable with no deductible.
Click to expand...
 
the extended warranty is a great incentive to buy a used truck. you can transfer the information to the new owner so having it makes the buyer feel more comfortable about the purchase and they tend to spend more on it because of it. just my opinion
 
I would get the extended Ford ESP warranty if plan to keep the vehicle for long time. Mine has paid for itself a long time ago. It was $1500.00 and I have had 3-4 mass air sensors, 2 radiators, 2 timing chain repairs, new Pioneer 6 disk radio, and various other items, that I am picky about. And I also get a rental car every time my vehicle is getting worked on, and have a 50.00 deductible And when people say petty items getting fixed you have to realize it may be a 10.00 part but their labor rate is what $65.00-90.00 an hour with a minimum 1 hr charge.

 
Dan G,



Will used vehicle "A" with with transferrable extended warranty with some amount of period left on it be able to be sold for more than like vehicle "B" that doesn't have the extended warranty? And, if so, will it sell for more than the original cost of the extended warranty + any finance charges incurred?



I ask because I am skeptical. Sure, vehicle A might sell quicker...but for substantially more money??? Opinions, anyone?



TJR
 
TJR,

I dont think it will sell for much more, just faster. Most times faster means less stress. Im all for less stress. I bought my ST with the extended. I wouldn't have done so if it wasnt for it being available. I probably would have bought a newer model with a warranty. Which means...more money.



Its just a good selling point. And it all depends on the amount paid for the ESP.
 
I agree with that, Dan...faster is better. Just want to make sure that we aren't trying to say that an ESP will "pay for itself", because clearly, on-average, people lose money with an ESP...for if they didn't, well then how could, on-average, those that sell them "make money?"



TJR
 
well then how could, on-average, those that sell them "make money?
Click to expand...



Have you read what's going on with Ford lately??:wacko:



My ESP paid for itself easily (and unfortunately).



Oops - my experience with non-factory extended warranty was not good. The companies may or may not be around when you need them. Of course, I have to wonder about Ford now.

 
Last edited by a moderator:
Note, yardsale, that I didn't say that it might not pay for individual cases...my point is, that on average and across all holders of a warranty, warranty companies have to take in more in sales of the warranties than gets "charged back" to them in repairs. Sure a Ford factory ESP might be "funny-money" on the charge back (not sure about that), but either way, you can rest assure that if an extended warranty costs, say $1800, then on-average, most people that have them are getting WELL UNDER $1800 in repairs through them.



Individual results vary.



It's a gamble, and they should call it "Service Insurance", not "extended warranty", IMHO.



TJR
 
JOE>>>>Please DON'T BUY AN EXTENDED WARRANTY FROM WARRANTY GOLD FOR ANY REASON! I paid $1500 for a warranty and after 9 months they filed for BANKRUPTCY on those that had purchased theirs after a certain date, and that left more than 50,000 people irate and fooled by their purchase. I wouldn't have had to pay $1,000 for a new tranny if they had honored that warranty that I paid them for! :angry::angry::angry::angry:
 
You would be better to give the salesman / F & I manager the money directly that you are looking to spend on this warranty. You will most likely find a more reasonable opportunity to have a claim paid by them personally, rather than the third party warranty company you may be looking to do business with. The salesman is pushing this product for one reason only... his commission will be more for this rag that the same sale of a Ford extended warranty.



Third party warranty products are IMO not worth the crapshoot of the money involved. Many of these warranties get sold as a part of the financing. I have been in automotive finance for 15 years. Rarely do these products live up to the commitment to the buyer. They fight claims to deny claims.... period. They do this with absolutely no integrity. They make those few anal retentive folk, that have kept every receipt for every oil change, gas fill-up and rear view mirror air freshener handy, crawl through shit to have any claim paid.



There is no brand tie in, there is no grievance board to hear you complaint about their warranty coverage denial and most shops refuse to deal with them due to their experence of the claims not being paid.



I have no experience with the brand that you have previously referred to, however, my observation is more slanted toward the entire third party warranty market. I have yet to find an honest player in the game.



You would be better hedged to place the cost of this warranty into money market fund and put yourself in a position to pay your own claims when needed.



Buyer Beware!!!!!!!!!!!!

 
You would be even better off just puttin $1500 bucks in a seperate saving accout and if any repairs come up that wont be coverd by the basic coverage or after it runs out use this $ to pay for it. If when you get rid of this vehichle there is any $ left in said account then use it toward your new purchase. If the odds are good for insurance companyies then why cant you take that same risk on your self??? Once its not coverd by ford and its your $ you probaly wont be going to a dealership for repairs anyway. And so the repair cost will probaly be cheeper than at the blue oval repair facility.
 

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