ecorepublican Posted March 27, 2015 Report Share Posted March 27, 2015 The Ford ESP would be nice to have (and I read threads on where to purchase). But does any feel strongly on whether or not to actually buy it ? I drive 25K miles per year and was considering the 6 year 125000 mile Premium Care ESP plan with $100 deductible. Any thoughts ? Quote Link to comment Share on other sites More sharing options...
markd Posted March 27, 2015 Report Share Posted March 27, 2015 That is what we bought, haven't had to use it yet but I'm confident in it. After six years it will be time for a new car. Quote Link to comment Share on other sites More sharing options...
markd Posted March 27, 2015 Report Share Posted March 27, 2015 That is what we bought, haven't had to use it yet but I'm confident in it. After six years it will be time for a new car. Quote Link to comment Share on other sites More sharing options...
DaveofDurham Posted March 28, 2015 Report Share Posted March 28, 2015 How much does this plan cost? Quote Link to comment Share on other sites More sharing options...
markd Posted March 28, 2015 Report Share Posted March 28, 2015 I believe we paid about 1800 dollars for it, it varies from dealer. Quote Link to comment Share on other sites More sharing options...
plus 3 golfer Posted March 29, 2015 Report Share Posted March 29, 2015 The Ford ESP would be nice to have (and I read threads on where to purchase). But does any feel strongly on whether or not to actually buy it ? I drive 25K miles per year and was considering the 6 year 125000 mile Premium Care ESP plan with $100 deductible. Any thoughts ?Looks like you can get it for less than $1500 from Flood Ford. The hybrid components are covered for 8 years / 100 k miles. So, buying the ESP you'll get an extra 25 k miles coverage for the expensive stuff like the Hybrid transmission and HVB. The rest of the power train (ICE) is covered for 5 years / 60 k miles. I wouldn't expect any issues with ICE in 125 k miles (remember mileage with ICE running will be a lot less than 125 k miles). You also have the Federal Emissions warranty for the catalytic converter and perhaps a few other emissions items. I suggest you look at whats covered under these warranties and then decide whether you feel better paying $1500 or risk paying several thousand dollars more than the $1500 for an unlikely expensive component failure. One other comment and that is one can cancel the ESP agreement (read the T&Cs for specifics) and either you or your lender will receive a pro rata payment for the unused contract period (months or miles) less a $75 charge. So, all is not lost if one decides to sell the car before the plan expires. Quote Link to comment Share on other sites More sharing options...
Bugblndr Posted March 29, 2015 Report Share Posted March 29, 2015 Personally, I never buy an extended warranty. You're basically buying insurance, and built into that price is profit for Ford and whomever is selling the plan. When I was younger and broke, I used to buy them. Back then though, a $300 repair would mean my car would be parked and I'd be walking to work. The price to fix things has gone up since then, but the factory warranties have also gotten longer. Quote Link to comment Share on other sites More sharing options...
ArizonaEnergi Posted March 29, 2015 Report Share Posted March 29, 2015 Odds are you will never need it - hence a waste of money. Full disclosure: I have bought three extended warranties over the years and never used one so learned the economics/probability issue the expensive way. Quote Link to comment Share on other sites More sharing options...
SPL Tech Posted March 30, 2015 Report Share Posted March 30, 2015 (edited) Dont buy it. The math doesent lie, for most it's a waste of money. http://www.consumerreports.org/cro/news/2013/07/is-it-worth-buying-an-extended-car-warranty/index.htm A few years ago, Consumer Reports proved the dubiousness of this pitch by surveying 8,000 owners of five- and six-year-old vehicles that had been covered by extended service plans. Sixty-five percent of those surveyed said they spent significantly more for the contract than they got back in repair-cost savings. Respondents said their extended warranty cost them $1,000 on average while providing an average benefit of $700. That means the average loss was $300. A big reason: 42 percent of extended warranties in our survey were never used, in most cases because the vehicle didn't need repairs or the standard manufacturer's warranty sufficed. Nothing a dealer sells you is in your best interest. Dealers exist to make money, which they do by exploiting you. If extended warrenties were advantageous for the consumer, no one would sell them as no one would make money. Edited March 30, 2015 by SPL Tech Quote Link to comment Share on other sites More sharing options...
stevedebi Posted March 30, 2015 Report Share Posted March 30, 2015 I appreciate all the folks who think it is a waste of money. As I said, in my case the warranty has more than paid for itself, even with the Honda, which are know for reliabiliby. I plan to buy one before I hit 34K miles. It is a matter of judgement and personal preferrence, of course. One thing that influences my decision: I want to have complete mechanical coverage on the car so long as I'm making payments. No unexpected costs that way. Quote Link to comment Share on other sites More sharing options...
FordService Posted March 30, 2015 Report Share Posted March 30, 2015 The Ford ESP would be nice to have (and I read threads on where to purchase). But does any feel strongly on whether or not to actually buy it ? I drive 25K miles per year and was considering the 6 year 125000 mile Premium Care ESP plan with $100 deductible. Any thoughts ?I appreciate all the folks who think it is a waste of money. As I said, in my case the warranty has more than paid for itself, even with the Honda, which are know for reliability...Hey guys, I recommend checking out the ESP website here. You can also speak directly with an ESP rep at 877-794-6434. Hours of operation: 9:00 a.m. – 7:00 p.m. EST. They are in the best position to answer your inquiries. Another option would be to contact your Ford Dealer about available plans. Enjoy the rest of your day! :) Tricia Quote Link to comment Share on other sites More sharing options...
SPL Tech Posted March 31, 2015 Report Share Posted March 31, 2015 If you do buy the ESP, dont buy it from the dealer or Ford. Get it off Google. There is a dealer somewhere selling them for about $100 over cost. Forgot the name but Google it and you will find it. Quote Link to comment Share on other sites More sharing options...
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