Where to get a very good deal on Extended Warranty

[bushpilot]

What I mean is what does ‘time and mileage’ mean.

Assuming it’s just time based...if you buy a plan when you get your car and get a 6 year plan for $1500 then cancel at the end of year 5 you’ll get $240 back after, effectively, one year of coverage.

The plans aren’t really ‘6 years’ or whatever. My navigator has a 4 year bumper to bumper and a 6 year powertrain. The ESP would only be effective in year 7 and beyond but I’d have to buy a 7+ year ESP for that to happen.

all of these plans begin at the original date of in service....even if you buy a used car thats 3 yrs old w/ 50k miles on it and add an extended warranty for 5 yr 100k (you're really only getting 2 yrs 50k).

Its always been a head shake for me....the vehicle is covered for 3/36 so its not like the underwriter really has to pay/cover anything until after that.

the RISK is low for the underwriter before 3/36 and I'm sure the actuaries have figured out when the risk increases and the likelihood of having to pay out over the next 2yrs / 64,000 mi - im sure the pro rata ramps up (or down depending on your point of view) as time goes on.

 

[iamretired]

Lombardo ford, 8/125/100 deduc was about 1600 bucks, my 2015 with 83k, had to be inspected first.

 

[carymccarr]

all of these plans begin at the original date of in service....even if you buy a used car thats 3 yrs old w/ 50k miles on it and add an extended warranty for 5 yr 100k (you're really only getting 2 yrs 50k).

Its always been a head shake for me....the vehicle is covered for 3/36 so its not like the underwriter really has to pay/cover anything until after that.

the RISK is low for the underwriter before 3/36 and I'm sure the actuaries have figured out when the risk increases and the likelihood of having to pay out over the next 2yrs / 64,000 mi - im sure the pro rata ramps up (or down depending on your point of view) as time goes on.

There is zero risk during bumper to bumper (4 years / 50k for navigator) goes up a little in year 5 (but powertrain is still good) and then only has ‘full risk’ in year 7 and beyond.

So a 4 year warranty is completely worthless, a 6 year is ~50% worthless. A 7 year gets you ONE year of a warranty out of the ‘7’.

 

[aggiegrad05]

There are benefits to the ESPs (at least the PremiumCare) during the factory warranty, I’m thinking specifically a loaner/rental. There are others but I can’t think of them right now. That may be of less use for a Navi if Lincoln always provides loaners, but Ford does NOT.

So yes, the WARRANTY doesn’t kick in until the factory rolls off, but there are other benefits in the meantime.

 

[carymccarr]

but they’re are other benefits in the meantime.

Really? If you’re in an accident then insurance would cover a rental and if there’s a warranty repair my dealer better damn well give me a loaner if it’s gonna be more than a day or two.


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[aggiegrad05]

Really? If you’re in an accident then insurance would cover a rental and if there’s a warranty repair my dealer better damn well give me a loaner if it’s gonna be more than a day or two.


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I agree with you! But no, Ford does not generally provide a loaner for a warranty repair. Or an oil change. Or anything. It’s a dealer-by-dealer thing. But when I go in, for anything, warranty or otherwise, I say I need a loaner and I have PremiumCare. And they say “ok, because you have PremiumCare we can do that.”

 

[carymccarr]

I agree with you! But no, Ford does not generally provide a loaner for a warranty repair. Or an oil change. Or anything. It’s a dealer-by-dealer thing. But when I go in, for anything, warranty or otherwise, I say I need a loaner and I have PremiumCare. And they say “ok, because you have PremiumCare we can do that.”

That stinks.


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[lobsenza]

You can add vehicle rental to the extended warranty for a reasonable price.