stevehin

I know it's a personal choice, but what are some thoughts on extended coverage, I plan on keeping my new f150 for life. That means in my case I could have it for 20 years. Ford offers their coverage. On my last truck, I was hounded by private companies to buy extended from them, I did not buy from either. If you have some time, address either issue, would you buy extended coverage and from whom.

phiremin

I actually like the idea of an extended service plan (ESP). I always get the one from Ford to avoid any issues, since I know the dealer will accept it. Not having one is like going to the emergency room without insurance. The dealer will rake you over the coals.
HOWEVER and its a big HOWEVER, ESPs are a big profit source at dealerships and the mark-ups are often ridiculous. It's usually the fianance guy that sells it after you are exhausted;
..."for another $50/month, you are covered to 100k miles and with all the electronics and bells and whistles, you really need as ESP".
If you overpay, however, it's really not worth it. But you can buy your Ford ESP online from several dearlerships who prioratize volume over margin. I would check out Flood Ford in Rode Island (best price I found). I think you can go to 8 years 150k miles.

MinusFORDy

llangarica

I bought my OEM ESP online through Ziegler Ford. I paid about $1100 for PremiumCare 7 year/75K miles/$0 deductible. It would easily be $2K+ if bought from my local dealer.

marshallr

No one is selling you something unless they make more money than they pay out. Some people get more than they pay, most do not. In my experience any defective parts will show up within the standard 36,000 mile warranty. Anything that lasts that long should easily last 150,000 miles. Except of course stuff like brakes, shocks, tires, batteries etc.

I don't use dealerships to work on anything unless it is free warranty work. Independent shops will do the same job, often better, for 1/3 the cost. I've never been in a situation where one would pay off for me.

Ricktwuhk

Posted over, and over, and ...

https://www.f150forum.com/f69/factor...-worth-369646/

https://www.f150forum.com/f118/shoul...rranty-340435/

moparado

I've also got the Ford premium ESP to 100,000 miles. It allows me to sleep a little better considering all the problems i see posted here.

As an aside, when i went to pick up my truck i had to call Geico to verify insurance before the dealership would let me drive it off the lot..
Found out from that phone call that Geico has some kind of ESP plan for new vehicles only for pennies on the dollar.
Don't know how good it is or if would be a hassle getting dealerships to honor it.
But the next new vehicle i buy i'll definitely check that out.

SteveLord

For real.....

phiremin

This is true of any insurance product. Most people's houses won't burn down, yet they have fire insurance. However, I do understand that extended warranties can be particularly bad deals, especially when your local dealer may be marking it up by 50%-100%.
I used the analogy to the emergency room in my post above, because I suspect it works in a similar fashion (maybe someone who knows more than me can chime in).
If you break your leg and go to the emergency room and don’t have insurance, you are going to get a monster bill and are going to pay “sticker price” to the doctor/hospital. But if you have insurance, the insurance company is going to pay much lower pre negotiated rates.
I suspect that the ESP works in a similar way (maybe someone can confirm). If your transmission goes and you take it to the dealer out-of-warranty, you are at their mercy. Prepare to get raked over the coals. If you have an ESP, I suspect Ford reimburses them at a predetermined rate that is much lower.
So what does this mean?
“normal” ESP purchase (i.e. local dealer with a big markup)
Ford ESP wins (they make a reasonable margin)
The dealer wins (they make a big margin on the ESP, which will offset lower reimbursement rates for future repairs)
The customer overpays.
But, if you can cut out the big dealer margin, then it’s not such a bad deal (yes, Ford “corporate” will still make a profit, but the customer benefits from their ability to get a better repair rates).

Eduskator

Lots of thread here on that topic...

Here's what I can say : Good luck keeping it for 20 years. Manufactured stuff aren't tough like they used to be a few decades ago... Welcome to the planned obsolescence era!

1) If you plan on keeping it, make sure to purchase an ESP. Why? Ford's reliability, first, and all the electronic and gadgets vehicles are now equipped with. ESP can be bought either directly at the dealership when buying the truck, or after on internet (no extra fees if bought within the first 12 months if I recall correctly). It's a lot cheaper on internet (sometimes 50% off the price at the dealership), and it's the exact same warranty. Google Zeigler or Flood!

2) Do not buy third party warranty. It's crap. Ford ESP or nothing.

3) An Extended warranty is basically just an insurance. You might need it or you might not. However, the longer you own & put mileage on a vehicle, the higher the chances of experiencing issues. It's plain logic.

I don't trust Ford when it comes to reliability so I purchased an ESP to cover the time I plan on keeping it. So far, based on my 6 months experience with my F150 and the issues I've encountered, I'm more than happy to have extended my basic 3y/36k warranty to 5y/60k.