Should I take extended warranty through CNA?

[tps7c]

Thanks for all the advice guys! Just to reiterate, the car I’m buying has no factory warranty left at this point.

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[Blwnsmoke]

For anyone thinking of buying an Extended Warranty….. please read the fine print and ask questions when these Sales people are shoving it down your throat at time of signing….


Read ALL the fine print and ask questions... Is this ESP Warranty in effect AFTER the new car 3/36 and 5/60 Powertrain has expired OR is it an ESP Warranty that runs concurrently with the existing 3/36 or 5/60? Some ESP's start as of the vehicle purchase date and do run concurrently - not many sellers of such warranties will tell consumer that fact.

The Ford 5/60 Powertrain covers quite a bit, not many owners read up on this either... but are sold ESP's that cover the same components.

The bigger question should be:
Will you run out at miles or years first with any Warranty? An Extended Warranty (any) won't be beneficial to anyone if the car is mostly garaged and sees limited miles - so even though you may have limited miles 5 years goes by quick too... and still ends the warranty.

If the ESP runs concurrently with the 3/36 or 5/60, then get the one with the longest length of coverage - such as a 7/100 or 8/120, whatever may be the most current plan.

Also when buying any warranty, it's not always important at what it covers, it's what the plan does NOT cover. HVAC, head/tail lamps and electrical components are the biggest ticket items aside from Powertrain that are the most expensive cost of repairs today with modern vehicles.

So it looks and works like this:
3/36 used for nearly all warranty claims during first 3 years/36k miles, whichever comes first.

5/60 runs concurrently with the 3/36, so after 3/36 is depleted by miles or years first, the remainder of the 5/60 is left which is 2/24 (again whichever comes first).

Ford ESP (and some aftermarket ESP’s) - run concurrently with the 3/36 and 5/60. So only AFTER the 3/36 and/or 5/60 is depleted, will the ESP be used. FACT (and it’s in the ESP fine print). So take for instance a new car owner bought a 7/75k ESP - what they really bought was a 2/15k if looking at it AFTER the 5/60 expired.

The above is why if buying any ESP (Ford or aftermarket) and planning on keeping a car for at least 5 years, always go with the ESP that has the longest term available.

Ford used vehicle ESPs start at the day you buy it, not from the original sale date

 

[460Fred]

I probably won’t have the car before the 5th though. I wonder if I can purchase it before I actually pick the car up?

Pretty hard to do if you need an inspection “before” they sell you the policy.

 

[tps7c]

Pretty hard to do if you need an inspection “before” they sell you the policy.

That's not how it works. You can apply for the policy, give them the car info and your payment info, to lock in the pricing. Then they schedule the inspection and if the car passes they charge you for the policy.

In my case it doesn't matter because when I told the dealer I didn't want the CNA policy and was going to get the Ford Protect from Lombard, he said, "I can sell you that too." The dealer brands themselves as Lincoln and I had a "blonde" moment and didn't realize they're also a Ford dealer. I'm guessing they make more money selling the CNA warranty which is why he didn't offer me that first. So it's now $2400 for a 3yr/36k Ford ESP, rolled into the financing. I'm picking it up Saturday!

 

[Saxgod]

That's not how it works. You can apply for the policy, give them the car info and your payment info, to lock in the pricing. Then they schedule the inspection and if the car passes they charge you for the policy.

In my case it doesn't matter because when I told the dealer I didn't want the CNA policy and was going to get the Ford Protect from Lombard, he said, "I can sell you that too." The dealer brands themselves as Lincoln and I had a "blonde" moment and didn't realize they're also a Ford dealer. I'm guessing they make more money selling the CNA warranty which is why he didn't offer me that first. So it's now $2400 for a 3yr/36k Ford ESP, rolled into the financing. I'm picking it up Saturday!

Awesome, I'm glad it worked out for you! Cant wait to see some pictures.

 

[tps7c]

Awesome, I'm glad it worked out for you! Cant wait to see some pictures.

I'll definitely be posting some this weekend! I don't know how I'm going to sleep these next few nights, knowing what lies ahead!

 

[460Fred]

Extended warranty do not financially work in the customer favor.
It’s like gambling, the house always winn

Just like “all” insurance, it’s just a numbers thing.
That said, having a house fire in the 80’s I’m probably close to even now with payout vs claims paid for all my insurance’s over the years.

 

[Blwnsmoke]

That's not how it works. You can apply for the policy, give them the car info and your payment info, to lock in the pricing. Then they schedule the inspection and if the car passes they charge you for the policy.

In my case it doesn't matter because when I told the dealer I didn't want the CNA policy and was going to get the Ford Protect from Lombard, he said, "I can sell you that too." The dealer brands themselves as Lincoln and I had a "blonde" moment and didn't realize they're also a Ford dealer. I'm guessing they make more money selling the CNA warranty which is why he didn't offer me that first. So it's now $2400 for a 3yr/36k Ford ESP, rolled into the financing. I'm picking it up Saturday!

Which plan level and deductible did you choose?

 

[460Fred]

Want to make sure I’m reading this correctly.
The policy you are buying will be for 3 years/36,000 miles from now. Ex: Car currently has 19,000 miles on the odo. Your policy will in effect last until Jan 2025 and cover you to 55,000, whichever comes first. Cost is $2400.00.
Is this correct?

 

[tps7c]

Want to make sure I’m reading this correctly.
The policy you are buying will be for 3 years/36,000 miles from now. Ex: Car currently has 19,000 miles on the odo. Your policy will in effect last until Jan 2025 and cover you to 55,000, whichever comes first. Cost is $2400.00.
Is this correct?

Yes, that is correct. Except I added the interior/exterior lighting coverage for an extran $140.

 

[Bikeman315]

Yes, that is correct. Except I added the interior/exterior lighting coverage for an extran $140.

Wow, that’s a lot extra. For my 19‘ it was $15.00.

 

[Saxgod]

Wow, that’s a lot extra. For my 19‘ it was $15.00.

Totally different. Yours was a new car esp. his is a used car esp.

 

[Bikeman315]

Totally different. Yours was a new car esp. his is a used car esp.

I know but that’s a huge difference.

 

[Firsttexan]

That can be a major hassle and not always successful.

Years ago that was true. Most of the independent shops I know, accept 3rd party warranties. They tell me no problem getting paid.

 

[Saxgod]

I know but that’s a huge difference.

Definitely but not surprising. Used esps start at the day and mileage you buy them at. New start at original purchase date and essentially mile 0.

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