Prepaid maintenance contract - thoughts
09-21-2014, 03:58 PM
#11
FX4RoadWarrior
I bought both when I got my truck because the lying finance manager made them sound so good. After some quick research I realized what a scam both were, I got a refund, which is allowed regardless of what the finance manager tells you.
Read the fine print on them.
They wouldnt sell them if they werent profitable.
Read the fine print on them.
They wouldnt sell them if they werent profitable.
09-21-2014, 09:24 PM
#12
Senior Member
Only thing about getting a REFUND on a FORD ESP or maintenance contract is that the refund is "prorated" (even though you haven't used ANY portion of it yet), and there is a $75 "admin" refund fee.
I bought both when I got my truck because the lying finance manager made them sound so good. After some quick research I realized what a scam both were, I got a refund, which is allowed regardless of what the finance manager tells you.
Read the fine print on them.
They wouldnt sell them if they werent profitable.
Read the fine print on them.
They wouldnt sell them if they werent profitable.
09-21-2014, 10:56 PM
#13
Lots of discussions on the forums about this. Split between "I don't want to have to worry" and "the only people that come out ahead are the car companies (and other warranty providers)".
You can read the scheduled maintenance in your manual.
Consumer Reports recommends never buying any extended warranties as rarely do they work financially.
You can read the scheduled maintenance in your manual.
Consumer Reports recommends never buying any extended warranties as rarely do they work financially.
These plans would NEVER be sold if they were not money makers for dealerships.
Trust me, do your own maintenance......it's simple and waaaaaaay cheaper.
09-22-2014, 01:41 PM
#15
Senior Member
09-22-2014, 04:46 PM
#16
Five-0 Ret.
I just got a '14 EB FX4 2 weeks ago and came the closet I ever have to walking out of a finance office. The guy just would let up and ended up walking out with a 50k extended for and extra $3 on my payment. I was embarrassed for the guy with the hard sell he was putting on it. May be because I sell maintenance contracts but end users that maintain their own equipment are an accepted part of our business. The one that really got to me was when he mentioned that there was coverage that would cover the $400 key against breakage if I dropped it. I'm sure there's coverage somewhere that would cover a broken shoe lace but that's a risk I'm willing to assume.
He did mention an interesting tidbit of info about the coverage I got on the last truck. Because I traded before it expired I could get a partial refund on it. Has anyone here done that and give me a little guidance as to how to do it?
Rammed
He did mention an interesting tidbit of info about the coverage I got on the last truck. Because I traded before it expired I could get a partial refund on it. Has anyone here done that and give me a little guidance as to how to do it?
Rammed
09-22-2014, 04:54 PM
#17
Senior Member
I didn't get the extended warranty this time around as I didn't use my last one a few years ago. I did however get the 3 year 36k maintenance plan thrown in. The local Ford dealer here in Wichita is trying to improve their image (Mel Hambleton Ford). A few years ago I about got into a fist fight with one of their "salesmen". Guy was pushy to the point of me getting irate. They were also the only ones around the Wichita area willing to work with me, again I think it was to improve their image. I used to try to do all my own work, but with 3 kids running around it's hard to get any work done. Plus I don't want to have to find recycle places for my fluids. Peace of mind if you will.
09-22-2014, 05:25 PM
#18
Senior Member
FORD will issue the original dealer of the ESP a refund, then the dealer will send a check to the customer.
If it was financed, it might be applied as a refund/payment towards the loan.
If it was financed, it might be applied as a refund/payment towards the loan.
@Rammed, EZPZ, just take your paperwork to the dealer you purchased the ESP from, and they will take care of the rest. Ford will may you the refund check.
09-22-2014, 06:13 PM
#19
FX4RoadWarrior
But beware! It acts as pre paying your payments! I had to contact Ford Credit to tell them to CONTINUE taking payments. Well actually I made the finance manager do it. Anyways I wouldn't have had a payment come out until December.
09-22-2014, 08:37 PM
#20
Nix on prepaid maintenance Yes on extended warranty
Just bought new 2014 STX crewcab.
I was given the sales pitch on both the extended warranty and the prepaid maintenance.
What are your guys thoughts on these? Useful on these trucks? I don't know the schedule for maintenance on this truck. Pick it up today.
Any thoughts would be helpful.
Thanks
Russ
I was given the sales pitch on both the extended warranty and the prepaid maintenance.
What are your guys thoughts on these? Useful on these trucks? I don't know the schedule for maintenance on this truck. Pick it up today.
Any thoughts would be helpful.
Thanks
Russ
The prepaid maintenance basically amounts to you paying full price in advance for your oil changes (about $90 or so) and Ford agrees to pay for the miscellaneous maintenance things that crop up during the term of your agreement--shock absorbers, brake pads, windshield washers, burned out tailights and the like.
I had the cash in hand and I wanted to like it, but I just could not make the numbers work for me. If you really drive a car hard would be the only way to make it work. Say you drive 10 miles on a rough dirt road every day, or you tow a trailer all the time, or you drive fast on mountainous roads.
You can get the basic oil change and tire rotation for $39 any day of the week for the 3.7L. or Ecoboost. About a hundred for the 8 quart sump on the 5.0.
I'm a low mileage driver, I admit, but in a little less than three years, my maintenance has been 3 X $39. Plus windshield wipers. So, $120. In addition, I've done "optional" maintenance that the plan would never have paid for, replacement of an air filter and change the diff fluid.
The ESP warranty is a different story. You buy those through the internet discounters. Remember, it's dead money for the first three years, since everything is covered by the factory warranty. So its better to buy for 7 years and cut back on the level of coverage if you have to. Remember, its transferable and therefore of considerable value towards the end of its life. [The six year old truck with say, 10K and 12 months on the warranty is queen of Craigslist]. I think the $50 deductible "Basic Care" 7 yr 100K warranty offers a lot of bang for the buck.
Last edited by shazam; 09-22-2014 at 08:49 PM.