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Ford Extended Service Plans (ESP)


DASEXPLORER

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Extended Warranty

I’ve recently purchased a 2016 Explorer and I’m considering an Extended Warranty.
The dealer offers a plan from CAREGUARD and there’s the Ford sponsored ESP.
Any opinions on the two plans?
I’d consider something along the 7 / 100K package.
 


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Professorfingers

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Personally, I've never gone this route, because I don't believe this to be a good investment. Research proves this point. However, with all of the new electronic options (self parking, BLISS, cameras, etc.) this may not be a bad idea. I hope this helps.

TW
 




Professorfingers

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My opinion, save your money.

JMHO, YMMV,

TW
 




DASEXPLORER

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Prices vary a bit, I fell a bit more conformable with the Ford ESP, but the Careguard is supposed to cover the same parts.
I’ll give it some more thought.
You’re right about all the electronics and the replacement for many are more than total cost of many of the plans. At least after the original warranty expires.
 




sheltonfilms

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If they didn't make money on the plan why would they offer it.

They know that the likelihood of them having to make repairs over the coverage period totaling more than what you paid is very slim.

Also think about this. They take your 2000 bucks and invest it. So even if you had to have a 2000 dollar repair 7 years later they still made money. Due to them investing your money and making interest and the inflation rate of the dollar.

Save your money, pay off the car early, or invest it in an account with a higher interest rate than your loan.

Another thing:

The failure rate of electronics over time is a "bathtub" curve. High at the beginning and high at the end (around 150k-200k miles). If the electronics are gonna fail they usually fail in the first 6 months to a year. Past that and you are pretty much good until your engine wears out.
 




albguy40

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If they didn't make money on the plan why would they offer it.

They know that the likelihood of them having to make repairs over the coverage period totaling more than what you paid is very slim.

Also think about this. They take your 2000 bucks and invest it. So even if you had to have a 2000 dollar repair 7 years later they still made money. Due to them investing your money and making interest and the inflation rate of the dollar.

Save your money, pay off the car early, or invest it in an account with a higher interest rate than your loan.

Another thing:

The failure rate of electronics over time is a "bathtub" curve. High at the beginning and high at the end (around 150k-200k miles). If the electronics are gonna fail they usually fail in the first 6 months to a year. Past that and you are pretty much good until your engine wears out.
Got the 7 year Ford ESP Premiumcare for my 2013 Limited and glad I did. 3 months after my manufacturer warranty ran out my ac comoressor clutch exploded into hundreds of little pieces. Half the warranty paid for itself. I have no doubt that I will rack up thousands in repairs on this car in the next 4 years. With the number of electronic systems the car has even one or two things going bad will pay for the warranty.

On my previous 2008 Audi A4 I racked up about 8000 in repairs in the 4 years I had it. The extended warranty on it was an outrageous $3800 but it was money well spent.
 




albguy40

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Prices vary a bit, I fell a bit more conformable with the Ford ESP, but the Careguard is supposed to cover the same parts.
I’ll give it some more thought.
You’re right about all the electronics and the replacement for many are more than total cost of many of the plans. At least after the original warranty expires.
I also looked at all the various studies mentioning that extended warranties aren't worth it but don't understand who their study pool involves. Out of all my family friends and work friends I don't know one person who regrets having paid for an extended warranty. The only cars I would feel comfortable owning without an extended warranty would be base model Honda or Toyota vehicles that's it. Keyword... base models with as few tech features as possible.
 




albguy40

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Sounds steep... I paid that much for a 7 year 120k Ford ESP4 Bumper to Bumper warranty
 




davido_

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There is always some risk to both parties.

If you don't purchase it, you risk the expense of whatever breakdown comes along.

If you do purchase it, you risk not getting your money's worth out of it.

If Ford sells it to you, they risk you getting your money's worth out of it.

If Ford doesn't sell it to you, they risk you going to someone else for repairs.

But the fact that dealerships (and electronics retailers) push so hard to sell you the extended service contract should be an indication of how heavily the odds are stacked in their favor.

Think about it; have you ever paid nearly $2000 to repair a vehicle that has a failure after 41k miles, but with less than 90k miles on it? Perhaps you have, and if so, you're one of the unlucky minority. But if you, like most people, have not, then you are precisely why the dealership is so interested in seeing you hand over money for repairs that they will probably never have to provide.

So your mileage may vary, as they say. You could be the individual who drives the car off the lot, uses it for 30 days (the used car default warranty), and then sometime between the 2nd month and the 36th month has a catastrophic failure in the engine or transmission. If that's you, you would probably wish you had purchased the $2000 warranty. But what are the odds of that being you? The dealership is betting that those sorts of situations are far and few between. I tend to agree.
 




Halwg

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It's like betting against the house. You are set-up to lose, or to look at it another way, they are set up to win.

Keep your money and invest it wisely, grasshopper!
 




Halwg

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Manufacturers find a lot of ways to separate a fool from his (or her) money. This is one of them. All it does is increase their profits and remove money from your wallet. But some people will never be convinced of this and continue to waste money and line the pockets of whomever offers the so called "warranty". And that's another story!
 




blwnsmoke

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I am in the process of buying used 2014 limited with 41K miles. The Ford dealer is trying to sell me a premium extended warranty for $1996 for 48K miles starting at the current milage (plus 48K) is it worth it? Maybe for all the tech in the vehicle? It has every bell and whistle you can think of. Opinions please.
I went to a site that just seemed to be a bitch board people complaining about it being a scam. WDYT?
Considering I bought a 6yr/125k Premium for $1,705.. not really a good deal. However, you are buying a used car warranty which Ford charges more then a New vehicle warranty so it could possibly be on par.

Regardless, I'd hold onto my money for only 48,000 mile coverage. I got twice the coverage for $200 less.
 




albguy40

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The most important thing you mentioned "every bell and whistle"... A lot of people think that 1800 in repairs is unattainable but these cars are very techy and full of control modules for everything. My Ford Premiumcare ESP is already half paid and its only been 4 months since my manufacturers warranty ran out. I have no doubt that a lot more things will break. I can already hear certain sounds that were not there before coming from the HVAC vents, my middle row captains chair don't auto fold anymore, have no doubt that a couple of calipers will seize by the time 7 years is up. That right there is over the 2000 bucks easiliy!
 




peterk9

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I’ve recently purchased a 2016 Explorer and I’m considering an Extended Warranty.
The dealer offers a plan from CAREGUARD and there’s the Ford sponsored ESP.
Any opinions on the two plans?
I’d consider something along the 7 / 100K package.
I have merged your thread with this existing one on the same topic. You may also want to PM blwnsmoke about ESP.

Peter
 




peterk9

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I am in the process of buying used 2014 limited with 41K miles. The Ford dealer is trying to sell me a premium extended warranty for $1996 for 48K miles starting at the current milage (plus 48K) is it worth it? Maybe for all the tech in the vehicle? It has every bell and whistle you can think of. Opinions please.
I went to a site that just seemed to be a bitch board people complaining about it being a scam. WDYT?
Welcome to the Forum. :wavey:
I have bought extended warranties on the past few vehicles I've had. Would I have been further ahead money wise not to have bought them. Yes, no doubt about it but I consider them 'insurance' just in case. Makes me sleep better too. The cost of extended warranties on used vehicles is always substantially higher than on new ones so you really can't compare the two.

Peter
 




DelSil

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Buy ESP online

I remember buying my Ford ESP online for my 2009 Edge Limited back in 2012. Can this still be done? I already have an ESP on Explorer which has already paid for itself when the power steering issue happened prior to the recall. My wife drives a 2013 Edge SEL and has 34000 on it and want to get an ESP on this. Also have seen other warranty companies on this thread. Any recommendations other than Ford's?
 




peterk9

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I remember buying my Ford ESP online for my 2009 Edge Limited back in 2012. Can this still be done? I already have an ESP on Explorer which has already paid for itself when the power steering issue happened prior to the recall. My wife drives a 2013 Edge SEL and has 34000 on it and want to get an ESP on this. Also have seen other warranty companies on this thread. Any recommendations other than Ford's?
Have you attempted to get reimbursed for the steering issue since the recall and extended warranty came out for it?

Peter
 




HughCares

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Have you attempted to get reimbursed for the steering issue since the recall and extended warranty came out for it?

Peter
He's only entitled to get his deductible back (if he had one) since he would have had no other out of pocket expenses.......
 




DelSil

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Peter, I did not think about that. How can I go about having that refund done? It was a $1800 repair since it damaged my steering box.
 


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TexasExplorer3

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Extended Warranty

I am in the process of buying used 2014 limited with 41K miles. The Ford dealer is trying to sell me a premium extended warranty for $1996 for 48K miles starting at the current milage (plus 48K) is it worth it? Maybe for all the tech in the vehicle? It has every bell and whistle you can think of. Opinions please.
I went to a site that just seemed to be a bitch board people complaining about it being a scam. WDYT?
As a purchaser of an extended warranty (not Ford) my experience was like Jekel and Hyde. I felt secure at first since I was covered for unexpected expenses on the car, however, when it came time to actually use the warranty I lost a lot of sleep due to the many ways the warranty co. tried to get out of paying for the repairs. On a "covered repair" the warranty co. paid $1500 of a $6000 bill! If you can live with that kind of uncertainty go ahead and buy the warranty. I would rather deal with the repair if/when it happens.
 




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