New guy here, just purchased 2011 S/C 4X4, 5.0 and love it. Finance guy was pushing the Ford Premium Maintenance Plan. Did not purchase as cost was $1,795 for 6yr 100,000 mile plan. I like the convenience of the plan but not the cost. Being new here I don't know if this has been discussed in the past but would like to know if someone could steer me in the right direction if there is a cheaper plan.
There are a few factors to consider in a plan like that. Do you keep your vehicles for 100,000 miles or more? Will you drive 15k or more per year? Do you have a dealer nearby where you can drop off your truck for a whole workday. Do you like to do your own maintenance? If you answer "no" to any of the first three and "yes" to the last then pass on the deal.
I don't usually keep my vehicles that long, and I only drive my truck around 6k a year. So I passed.
You can go back to the dealer and offer them a more comfortable price and they may take it.
" One morning I shot an elephant in my pajamas. How he got in my pajamas, I don't know."
The premium packages and extended warranties are where the finance guys make their money. If your seriously interested in it, read the paperwork thoroughly. Make sure it covers what you think it does. Also, make sure the price is reasonable. I know I can change my own oil for under $30.00 and properly dispose of the used oil and filter. I know that I only need to do that about 3-4 times a year. Changing the other fluids (brake, transmission, power steering et al) isn't done near as often and I think the price the dealer wants for that premium package is excessive IMHO.
Purchased a 2011 F150 XLT 4X4, 5.0 the other day. Also purchased an extended warranty-Ford ESP Premium Care extended service plan. Plan is for 84 months and 75000 miles. Cost to me including tax is $2126.88. I have read the fine print and I can cancel. This cost was rolled into my financing the vehicle. If I cancel does my payment go down or do I get a check in the mail? Does anyone have any experience in the costs of the plan?
Hubby did the same thing. He was able to cancel it and the payments went down. He had a certain amount of time to cancel and the dealer tried to postpone him because the finance guy wasn't in. He made them do the cancelation without the guy who wrote the deal.
84 months should be at least 100,000 miles IMO. 75,000 is just over 10,000 a year. Average use is between 12,000 and 15,000 a year.
I paid around $2400 for a 7 year, 100,000 mile Premium Plan. Normally I don't touch these things but this time I did. Yeah, as others have mentioned you can get various 'deals' on them if you search around but I seriously wasn't that concerned about paying an extra grand or so and not having to dick with things. I got an outstanding deal on my truck so I didn't begrudge the dealer his inflated price....
If you really have no mechanical ability and plan on driving 100k miles in 6 years and don't want to do any maintainence of your own, I would do it. As someone who puts on less than 7k miles a year, plus don't mind doing work myself, I couldn't justify it. The dealers are making a ton of money on it. If they weren't they wouldn't be offering it.