Extended Service Plans ( ESP) for Mach 1…anyone buy?

[cheeser]

I understand extended warranties are glorified insurance, but they are nice to have if/when hits crap hits the fan. I’m looking to keep this Mach 1 for at least 10 years and may work on my car less as I get older.

In my case, I’m getting a good price for my Mach 1, Flood Ford has the PremiumCare ESP that covers almost everything with an 8 yr plan (85k-100k miles) so I don’t mind paying $1400ish to provide coverage out to that 8 yr mark.

Thanks for the info, but I’m back to my question for those that have actually purchased the Ford ESP their experience.

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[Bikeman315]

I understand extended warranties are glorified insurance, but they are nice to have if/when hits crap hits the fan. I’m looking to keep this Mach 1 for at least 10 years and may work on my car less as I get older.

In my case, I’m getting a good price for my Mach 1, Flood Ford has the PremiumCare ESP that covers almost everything with an 8 yr plan (85k-100k miles) so I don’t mind paying $1400ish to provide coverage out to that 8 yr mark.

Thanks for the info, but I’m back to my question for those that have actually purchased the Ford ESP their experience.

I bought a Ford ESP on my 2015 EB a few years back. We had major AC issues back then with the evaporator. After warranty replacement would have cost far more than the warranty did. But I didn't need it. Got it transferred to the new owner.

My 19' GT/CS will be out of warranty in March. I will be buying my ESP next month. I plan on keeping my car for quite some time and I'm concerned about electronic issues. These, if needed, will cost far more than the ESP.

It's really simple. If you have the cash to lay out for any expenditure for the life of your car, pass on the ESP. If you don't it really is reasonable insurance against major repair bills.

 

[cheeser]

I bought a Ford ESP on my 2015 EB a few years back. We had major AC issues back then with the evaporator. After warranty replacement would have cost far more than the warranty did. But I didn't need it. Got it transferred to the new owner.

My 19' GT/CS will be out of warranty in March. I will be buying my ESP next month. I plan on keeping my car for quite some time and I'm concerned about electronic issues. These, if needed, will cost far more than the ESP.

It's really simple. If you have the cash to lay out for any expenditure for the life of your car, pass on the ESP. If you don't it really is reasonable insurance against major repair bills.

That's similar to my thoughts....I have normally just covered them myself in either costs or doing the repair itself.

I wanted to stick with the Ford ESP vs a 3rd party, and buy it early (at purchase or under 12 months) as they are cheaper then.

 

[luc]

I bought a Ford ESP on my 2015 EB a few years back. We had major AC issues back then with the evaporator. After warranty replacement would have cost far more than the warranty did. But I didn't need it. Got it transferred to the new owner.

My 19' GT/CS will be out of warranty in March. I will be buying my ESP next month. I plan on keeping my car for quite some time and I'm concerned about electronic issues. These, if needed, will cost far more than the ESP.

It's really simple. If you have the cash to lay out for any expenditure for the life of your car, pass on the ESP. If you don't it really is reasonable insurance against major repair bills.

Compare apples to apples, that also mean esp for the life of the car
I always look at insurance as protection against a catastrophic event that would have a huge and devastating effect on your life if you didn’t have it
…. Car warranties do not fit that description

 

[Bikeman315]

That's similar to my thoughts....I have normally just covered them myself in either costs or doing the repair itself.

I wanted to stick with the Ford ESP vs a 3rd party, and buy it early (at purchase or under 12 months) as they are cheaper then.

OK, so just ran the numbers from the big three. If I bought a policy today this is what it would cost.

 

[Bikeman315]

Compare apples to apples, that also mean esp for the life of the car
I always look at insurance as protection against a catastrophic event that would have a huge and devastating effect on your life if you didn’t have it
…. Car warranties do not fit that description

Well then it is fortunate that you have the fianacial means to repair any malfunction that your car may have up to and including replacing and engine and/or transmission. For this of us that can't ESP's are worth the peace of mind.

Also there are different types of insurance. For instance in the health care industry there are regular policies that cover day to day situations and there is catastrophic care policy's. People pick what the need.

 

[luc]

Well then it is fortunate that you have the fianacial means to repair any malfunction that your car may have up to and including replacing and engine and/or transmission. For this of us that can't ESP's are worth the peace of mind.

Also there are different types of insurance. For instance in the health care industry there are regular policies that cover day to day situations and there is catastrophic care policy's. People pick what the need.

Well, if I thought that I would be saving money by buying an esp, I would of course do it but I don’t for the same reason that I don’t gamble at casinos, the odds are not in your favor.
In the same logic, I don’t have full coverage, only liability, on my numerous bikes. Adding it would cost me an extra $4k per year and I’m way better off by self insuring
I did crash a bike about 5 years ago and it did cost me around $6k to fix it …..still nothing compared to what it would have cost me in insurance for all those years

 

[Atlas1]

Well, obviously insurance and extra warranty are like gambling at a casino, the house always win
If you buy everything on credit, always have a balance on your credit cards, do not have a comfortable amount of money saved and therefore a few thousands dollars repair bill would bankrupt you, sure, go ahead otherwise it’s a loosing proposition and a waste of money

My German sedan would like a word with you

 

[Bikeman315]

My German sedan would like a word with you

Do you have defective cupholders also?

 

[cheeser]

I’m comfortable spending $1400 for a factory ESP on a $60k car knowing I’m covered for 8 yrs.

Doing my own paint correction and ceramic coating will about pay for that.

 

[luc]

I’m comfortable spending $1400 for a factory ESP on a $60k car knowing I’m covered for 8 yrs.

Doing my own paint correction and ceramic coating will about pay for that.

Do you mean 8 years after the 5/60 warranty or from when the time was put into service?
Big difference, on 1 side it’s $700/year and the other one is $175/year

 

[cheeser]

Do you mean 8 years after the 5/60 warranty or from when the time was put into service?
Big difference, on 1 side it’s $700/year and the other one is $175/year

From in service date. 5/60 is power train..its the other major things that expire at 3/36 I’m looking at as well.

As mentioned, I’m ok with the cost :-), but understand others may not. I’ll leave the merits of an ESP to others to balance in their own situation.

 

[Fishtales]

Not a fan of extended warranties for the reasons stated. Like gambling, the odds are against you collecting IMHO. I originally was thinking GT350 but didn't want the engine risk, same with the MT82 with GT. Maybe if I was looking at those vehicles, I'd consider it. I'm hoping after an 8 year run and "the best of" parts from the bin this car is reliable.

 

[luc]

From in service date. 5/60 is power train..its the other major things that expire at 3/36 I’m looking at as well.

As mentioned, I’m ok with the cost :-), but understand others may not. I’ll leave the merits of an ESP to others to balance in their own situation.

I’m just curious, do you think that you would be saving money in the long run or is that just for peace of mind ?

 

[FreePenguin]

if you want a warranty buy from ford flood or the other people that people post here.

fun fact, some of these insurances / warranties are state regulated on pricing so they vary state to state. when I bought my 2013 Scion tC, the Toyota, the price was like 2500 for an additional 7 year 100k warranty. but if I did that, he took 1000 off my cars MSRP. (genuine Toyota warranty fyi)

I learned about this, and just like ford flood Florida etc, I found another dealer online that had the SAME 100% authentic Toyota 7 year 100k warranty, for 700 bucks! So I called canceled the 2500 plan like next day, I already had my car deal priced in, (and I took a loan for the car! and they gave me another 1-2k) off my Toyota.

jokes on him, I canceled the car warranty, +2500 to me, and I paid the car loan off, like 1 week later, 20k payment, BOOM got like a 4k discount than I was originally getting. I came back into pay in person, and the sales guy was refusing everything, told me I wasn't allowed etc... long story short, manager came out, I paid everything off within 1st week, got that warranty refunded and the dude was mad, cut into his commission hard. isnt my problem.

I bought the 7 year warranty 100k over the phone, 700. then at 99k miles I went into local dealership, they didnt really see any issues, but one strut was "small leak of fluid" and they told me, honestly they get paid for doing warranty work, they gave me full struts shocks springs, sway bars etc. they marked it all, and they got me everything approved. WELL worth the 700 bucks I got. but it was shady that they told Toyota all that was bad lol. and they approved it.



long story short, get OEM warranties, and find out where you can get it cheapest in the nation, because the OEM warranties, work at all dealerships. and due to regulations, Alaska guy didnt lie, the states really do have minimums/laws about how they are priced out. its not like they just make up a number.

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