Buying an extended warranty? worth it?

[dhbikingrox]

Fresh Newb here. Hi!

 

I am about to buy a 2013 Ford Edge Limited AWD 6-cyl with 20k miles on it from CarMax, They offer an extended warranty that covers the below items for about $1900 which is good for 7 years or 100,000 miles with a $100 deductible per claim.

 

Worth it? Seems this car may have some issues down the road according to what I am reading on this forum and I am likely to still have it in 7 years if I love it. (Current car is a 2002 Jeep Liberty Sport I have had for 9 years!)

 

Thanks for your help!

 

What MaxCare covers

MaxCare provides comprehensive mechanical protection. To find out more about what's covered, click on the categories below. To find out what MaxCare doesn't cover,click here.

1. Engine

Gasoline Engine - Cylinder block, and all internal lubricated parts including: crank shaft, rod and main bearings, cam bearings, expansion (freeze) plugs, connecting rods, wrist pins, pistons, piston rings, camshaft, cam tower, lifters, cylinder head, valves and guides, valve springs, rocker arms (cam followers), pushrods, timing chain housing (cover), timing chain and sprockets, timing belt and pulleys, timing belt tensioner, intake and exhaust manifolds, exhaust manifold cover, flywheel, balance shafts, harmonic balancer and retainer bolt, crank shaft pulley, valve covers, idle speed control, fuel pressure regulator, barometric pressure sensor, oxygen sensor, throttle position sensor, mass air flow sensor, idle air control solenoid, oil pan, oil pump and pressure relief valve, oil cooler, oil temperature sensor, air cleaner assembly, engine oil cooler hoses, oil filter adapter/housing, engine oil sending unit, motor mounts, water pump, water temperature sensor, temperature sending unit, thermostat and housing, fuel supply pump, fuel pump control unit, fuel tank sensor, vacuum pump, vacuum control valve, vacuum switch, positive crankcase ventilation valve, dipstick and tube, seals and gaskets, fasteners for the components listed above.

Turbocharged/Supercharged/Rotary/Diesel/Enhanced Engines - All of the above listed parts or equivalent plus: turbocharger, waste gate controller, intercooler, hard lines, compressor, clutch and pulley, bypass valve, injection pump, diesel injection tube, pump gear, tensioner pulley, timing belt and injection timing control, lines and nozzles, seals and gaskets.

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2. Transmission

Automatic - Case and all internal lubricated parts including: oil pump, valve body, torque converter, vacuum modulator, governor, main shaft, clutches, bands, drums, gear sets, bearings, bushings, sealing rings, TV cable, solenoids and electronic shift control unit, transmission front cover, transmission mounts, cooler, cooler hoses and hard lines, automatic transmission control unit, parking pawl, range select lever, dipstick and tube, seals and gaskets, fasteners for the components listed above.

Standard - Case and all internal lubricated parts including: main shaft, gear sets, shift forks, synchronizers, bearings, bushings, seals and gaskets, fasteners for the components listed above.

Transfer Case - (4X4 vehicles) - Case and all internal lubricated parts including: main shaft, gear sets, chain and sprockets, bearings, bushings, mounts, transfer relay, interlock control unit, seals and gaskets, fasteners for the components listed above, electronic and vacuum engagement components.

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3. Front Wheel Drive

Front Wheel Drive - Final drive housing and all internal parts including: carrier case, gear sets, chain and sprockets, bearings, bushings, axle shafts, constant velocity joints and boots, universal joints, front hub bearings, locking hub assemblies (4X4), drive shaft support, rear axle hub bearings, seals and gaskets, fasteners for the components listed above.

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4. Brakes

Brakes - Master cylinder, assist booster, wheel cylinders, combination valve, disc brake calipers (and rear caliper actuators), caliper yoke, front baffle plate, back plate, adjuster assembly, level indicator, load sensing valve, anti-skid sensor assembly, rotor assembly sensor, hard lines and fittings, backing plates, springs, clips and retainers, self-adjusters, parking brake linkage and cables, rear cable adjuster, seals and gaskets, fasteners for the components listed above.

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5. Electrical System

Electrical - Alternator, voltage regulator, distributor cap, rear window defroster, speedometer cable, head lamp relay assembly, horn relay, ignition relay, head lamp dimmer relay assembly, interlock emergency switch, fuse block, flasher unit and relay, seat belt warning timer, retractable head lamp motor assembly, wiper arm, rear wiper arm, reverse lamp assembly, clock, windshield wiper motors and delay controller, wiper washer tanks (front/rear), starter motor and drive, starter solenoid, wiring harnesses, manually operated switches (such as turn signal, headlight, dimmer, and wiper switches), and mechanically actuated switches (ignition, brake light, and neutral safety switch), cruise control system, power seat motor(s) and transmission(s), power window motor(s) and power regulator(s), power door lock actuators, power trunk release actuator, and power antenna motor.

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6. Electronic System

Electronic - Digital and analog instrument display(s), compass and thermometer display(s), low fuel sensor, low coolant sensor, low oil sensor, electronic rear view mirrors, keyless entry system, electronic fuel injection systems (specifically sensors, pressure regulators, fuel rails, injectors, seals and gaskets), electronic fuel pump, electronic ignition module, distributor and coil, engine management control unit, power window regulator, alarm units, power units and sensors, knock sensor and oxygen sensor, electronic air suspension compressor.

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7. Rear Wheel Drive

Rear Wheel Drive - Drive axle housing and all internal lubricated parts including: carrier case, gear sets, bearings, bushings, limited slip clutch pack, axle shafts, axle hub bearings, propeller shafts, universal joints, drive shaft support, front axle hub bearings, rear cover 4WD, select switch, rear cover, differential case, control lever boot and socket, seals and gaskets, fasteners for the components listed above.

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8. Steering System

Steering - Housing/case and all internal lubricated parts including: rack and pinion valve assembly, sector shaft, rack mounts and cushions, inner rod ends and bellows boots, speed sensor or steering gear equipped pitman arm and valve assembly, sealing rings, bearings, bushings, pitman arm, center link, tie rods, idler arm, power steering pump and pulley, fluid reservoir, pressure and return hoses, cooler and hard lines, power cylinder assembly, steering wheel, horn button assembly, steering gear arm, steering damper, steering lock, steering upper and lower collars, tilt lever, pump reservoir tank and tank cap, steering main and intermediate shafts, coupling, seals and gaskets, fasteners for the components listed above.

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9. Cooling System

Cooling System - Thermostat housing, fan blade, thermostat, radiator cap, radiator shroud, reservoir tank/bracket, thermal switch, coolant temperature sensor, radiator fan relay, blower motor timer.

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10. Front Suspension

Suspension - Steering angle sensor, front coil/leaf springs, MacPherson struts (includes upper mount and pivot bearing assembly), rear coil/leaf springs, upper and lower control arms, torque arm, adjustable shock support, bump stop cushions, control arm shafts, torsion bar mounts and bushings, tension rod, bushing and bracket, panhard rod, upper and lower ball joints including: dust boots, steering knuckle (spindle), wheel bearings and seals, stabilizer shaft, stabilizer linkage including: mounts and bushings, strut rods and bushings, king pins, rear strut assembly, rear stabilizer, seals and gaskets, fasteners for the components listed above.

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11. Interior Assemblies and Controls

Interior - Seat belt control unit, seat belt power unit, seat belt slide assembly, seat belt limit switch, air pump, slide assembly (power seat), lift assembly (power seat), automatic transmission range indicator.

Assemblies & Controls - Accelerator pedal, bell crank assembly, 4WD skid guard, hood hinge, lock and lock cable, seat belt anchor stay, fueling stopper assembly, front door hinge and lock, lock knob rod, remote control rod, lock striker and knob, lock cylinder, front outside handle, handle rod, front inside handle, front window regulator; Rear door hinge and lock assembly, remote control rod, lock striker, rear outside handle, handle rod, rear inside handle, rear window regulator, regulator handle, slide door lock assembly; Side window control assembly, remote control rod, side window control cable, regulator wire, slide door roller, slide door link, deck lid lock striker, lid opener cable, deck lid lock, trunk opener solenoid, deck lid hinge, deck lid torsion bar, back door lock and handle.

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12. Air Conditioning

Air Conditioning - Relay, control, vacuum control switch, thermistor, compressor and mounting brackets, clutch and pulley, condenser, evaporator, orifice tube, POA valve, accumulator, temperature control programmer, radiator fan control amplifier, solenoid valve, automatic climate control sensors, shift actuator valve, power servo, acceleration cut timer, RPM sensor, high/low pressure cutoff switches, high/low pressure hoses, pressure cycling switch, thermostat, drier, temperature control head, o-ring seals, gaskets, fasteners for the components listed above, refrigerant if necessary (in conjunction with the repair of the components listed above).

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What MaxCare doesn't cover

The following are not covered under your agreement:

• Manufacturer's maintenance items including services and parts described in your owner's manual.
• Other normal maintenance services and parts including engine tune-up (includes spark plugs, glow plugs, ignition wires, distributor cap and rotor), carburetor, throttle body assembly (except injectors), batteries, filters, lubricants or fluids, air-conditioning refrigerant, engine coolant, all hoses and belts (not specifically listed), wiper blades, brake pads and shoes, brake rotors and drums, suspension alignment, tires, wheel covers, wheel rims, wheels, wheel balancing, shock absorbers, exhaust system, friction clutch disc and pressure plate, and clutch throw out bearing.
• Glass, glass framework, fastening adhesives, sealed beam head lamps, light bulbs, lenses, trim, moldings, bright metal, upholstery, vinyl and convertible tops, paint, sheet metal, bumpers, alignment of body parts, flexible body parts, door panels, body panels, structural framework, structural welds, and removable hardtop assemblies.
• After market accessories, unless it is a CarMax-approved, vendor installed accessory purchased through CarMax at the time of vehicle purchase, or non-original equipment, components and systems not installed by the manufacturer, examples include: anti-theft systems, radar detectors, CB radios, radio/speaker equipment, telephones, cruise control and sun roof.
• Solar powered devices, telephones, TV/VCR and related components (unless it is a CarMax-approved, vendor installed accessory purchased through CarMax at the time of vehicle purchase), appliances.

Edited October 30, 2013 by dhbikingrox

[akirby]

The only one worth buying is a Ford ESP. You can buy it anytime within the factory bumper to bumper warranty. Although I don't recommend any extended warranty in the first place. In the long run you'll most likely lose money.

[flyinlow007]

I only recently started buying extended warranties on vehicles. I will only buy the factory ones, won't ever buy an aftermarket. Shop around, plenty of people will sell you a factory one at cost.

 

On both warranties, they paid for themselves. I had a Corvette that I had an issue with where we had to replace the body control module. On our Avalanche, we had to replace the shocks up front, which have sensors because the truck has automatic load leveling. The warranties on both cost me just over $1000 and both repair jobs ended up being more than that. There were a few more things I had them in for as well that were covered.

 

For that low of a cost, it makes sense to me because of all the electronics on them today. Not as concerned about powertrain, more about the electronics so make sure the warranty you get covers those things.

[akirby]

I only recently started buying extended warranties on vehicles. I will only buy the factory ones, won't ever buy an aftermarket. Shop around, plenty of people will sell you a factory one at cost.

 

On both warranties, they paid for themselves. I had a Corvette that I had an issue with where we had to replace the body control module. On our Avalanche, we had to replace the shocks up front, which have sensors because the truck has automatic load leveling. The warranties on both cost me just over $1000 and both repair jobs ended up being more than that. There were a few more things I had them in for as well that were covered.

 

For that low of a cost, it makes sense to me because of all the electronics on them today. Not as concerned about powertrain, more about the electronics so make sure the warranty you get covers those things.

 

It's a gamble and it can always work in your favor on 1, 2 or even 3 vehicles. However, in the long run the odds are always in the house's favor. If that wasn't the case they'd stop selling them. So it really comes down to whether you want to gamble or not gamble.

 

Just to add a counter example to your 2 vehicles, out of our last 7 vehicles 6 were kept at least 2 years after the warranty expired (2 Rangers, 1 Expedition, 1 Edge, 1 Lincoln LS and 1 Fusion). We had an Aviator that had a lot of problems but we ditched it right after the 4/50 warranty expired. Out of those 7 vehicles, my out of pocket expenses for repairs that would have been covered by an extended warranty was less than $300. Had I purchased extended warranties I'd be out of pocket $7K - $12K. Even if I have to replace an engine tomorrow I'm still thousands ahead.

 

The only exception is if you're on a fixed or low income and can't afford to pay for a large repair out of pocket. In that case you should finance the warranty with the vehicle so you only pay a few dollars per month. It may be more expensive in the long run but it avoids a large expense at one time.

 

I'm not saying you shouldn't buy one - just understand that it's a gamble and the odds are not in your favor over the long term.

[akirby]

BTW - electronics either die immediately or they last a long time. They don't usually die after a few years - maybe with the exception of radio displays.

[JOEHIO]

My wife's sister got screwed, BIG TIME, about 3 years ago with an extended warranty on her Ford Five Hundred, that WAS NOT a Ford one. Cost $1,400, and when she took it in for a repair, that repair cost her $1,300, because it was not covered by that particular companies plan, If it was a Ford Premium Care warranty, the repair would have been covered. GO WITH FORD ONLY, NO OTHER COMPANIES!

Edited October 30, 2013 by JOEHIO

[flyinlow007]

BTW - electronics either die immediately or they last a long time. They don't usually die after a few years - maybe with the exception of radio displays.

Sorry, old wives tale. I have an engineering degree in electronics and this simply isn't true. They can die at any time, all comes down to the tolerances of the components and the environment they have been put through. And if the display dies, you replace the whole unit, there is no repair done on it.

 

Agreed that its a gamble, but I keep mine a little longer than you do and as they age and you put more miles on, the chance of needing repairs goes up. I typically own mine 7-8 years and typically take the option for the 7 year/80k warranty.

[akirby]

I agree that environmental stress can cause failures from heat, vibration or power surges but in a vehicle I still think they're relatively rare. Outside of a led display I don't think I've even heard of an electronics failure after the first year. In any event, the odds are still not in your favor because the mfr has factored the repair rates into the cost of the warranty and if the odds were not in their favor over the long term and over a large number of vehicles then they wouldn't be selling them because they'd be losing money.

 

It's also the reason corporations self-insure for all but the most catastrophic events - it's cheaper.

[flyinlow007]

I agree that the odds are in the houses favor, no doubt about that. They have actuaries that spend countless hours going over details to create the rates they charge for the extended warranties. To your point, they wouldn't be selling them if they couldn't make money on them.

 

For my personal case, the $1170 I'm going to spend is a cheap enough bet that I will get that back if just one or two things go wrong. If we were talking over $2000 I would probably roll the dice instead.

[akirby]

I agree that the odds are in the houses favor, no doubt about that. They have actuaries that spend countless hours going over details to create the rates they charge for the extended warranties. To your point, they wouldn't be selling them if they couldn't make money on them.

 

For my personal case, the $1170 I'm going to spend is a cheap enough bet that I will get that back if just one or two things go wrong. If we were talking over $2000 I would probably roll the dice instead.

 

The key is you understand it's a gamble. A lot of folks just don't understand that and they don't understand the odds.

 

The part I find strange is there are people who will knowingly pay more money up front even if they know they won't get it all back just to have "peace of mind" that they won't have to shell out big bucks for a repair. They'd rather pay $1500 each on 3 cars to avoid spending $3K on one repair. That's the mindset I don't understand.

[wlepse]

I am about to buy one and never have before. All of my previous cars were trouble free well past the warranty period, unfortunately that hasn't been the case with the Edge. Even if you take the MFT issues out; we had a TSB performed for engine ticking and rear end clunking. Now about a year later it seems some of the warning signs are coming back. Also I have complained that the power steering was making syrange noises...of course I was told this is normal but when I checked the oil the other day I noticed the PS fluid was low. Seems others have had their racks replaced so I suspect mine will need it to. Add in the fairly common BAMR issues and PSU failures and I feel like this is the one vehicle that will likely pay off my investment. But I do agree most of the time you are throwing your money away.

[akirby]

Given your history I'd say those odds are more in your favor on this vehicle.

[unxpctd]

I got an extended on my 2013 Limited...went from 3/36k to 5/60K bumper to bumper. The extra 2 years cost me a total of $1200 at the time of purchase.

 

I'm going to be taking long, extended trips over the next few years so I figured it would be worth it. Even with the trips though...I'll still probably only put on 12K or so per year.

 

Soooo...I should be at about 60K when I finish paying her off and trade it (probably on another Edge )

 

With all the electronics in my Limited (nav, etc) and the panoramic roof I figured it would be a safe purchase.

[dhbikingrox]

Thanks all for the information! I didn't purchase the ESP through the dealer but will likely get the ESP through Ford before my initial 3yr/30k warranty expires.

[flyinlow007]

Remember that the price of the warranty goes up at each interval (1/12, 2/24, etc.) plus Ford will almost certainly do pricing adjustments at least once per year.

[normcloutier]

I purchased a 7 yr/120k with my 2013 last year. In hindsight the mileage is high. At the 18 month mark I'm only at 19k.

 

It cost me an additional $43 a month over the 72 month purchase term. I could have declined extended warranty and just put $50 a month away towards unforeseen repairs but the value of the electronics frighten me if they need to be replaced. We replaced the instrument cluster on one of our 06 freestar vans last year and that was $1200. It was just a pair of gauges with an information display. Can't imagine what a whole new Egde one would cost.

[akirby]

I'm pretty sure it only goes up by $100 after the first 12 months/12K miles. I didn't think it went up again at 24/24K.

[goatee]

I can only tell you that my 2011 Edge Ltd pretty much ran beautifully during the 3/36k mile warranty period. No kidding, as soon as I crossed the 36K I have a brake booster malfunction. My ESP Premium care 7yr/100k warranty approved the repair minus the $100 deductible.

[turbobob]

I know that this string is a bit old, however, if you are interested in a company that sells Ford ESP Warranties at low prices, you should check with Flood Ford. Their prices are as low as I've seen anywhere on the internet. I recently purchased one for my brand new 2013 Edge AWD (6 years 75K mi, $50 ded) and one for my 2011 Shelby GT 500(7 years, 36K mi, $50 ded) from Flood. The two plans together cost just under $1500 which is about $700 less than my local Ford dealer's price for the Edge alone. In case anyone is wondering about the low miles for the Shelby's warranty, it is not my daily driver so I don't put many miles on it.

[Nicknack]

I know that this string is a bit old, however, if you are interested in a company that sells Ford ESP Warranties at low prices, you should check with Flood Ford. Their prices are as low as I've seen anywhere on the internet. I recently purchased one for my brand new 2013 Edge AWD (6 years 75K mi, $50 ded) and one for my 2011 Shelby GT 500(7 years, 36K mi, $50 ded) from Flood. The two plans together cost just under $1500 which is about $700 less than my local Ford dealer's price for the Edge alone. In case anyone is wondering about the low miles for the Shelby's warranty, it is not my daily driver so I don't put many miles on it.

 

Have you taken the car in for service under these warranties yet? While they certainly seem legit, the price difference between Flood Ford and an ESP from the dealer is crazy. I looked at a 5 year 100k warranty and the dealer quoted me $2,440. I tried to negotiate with them but they wouldn't budge. Flood Ford on the other hand offered the same plan for just under a grand. Unfortunately for me, while Ford would sign me up even though I am just 1,500 miles outside my warranty, Flood Ford would not.

[mmjunkie]

I purchased my 2013 Edge in June 2014 and purchased the ESP. On 5-2017, the power brake booster went out. Replaced the booster and master cylinder under warranty, less the $100 deductible. On 08-2017, the booster failed again. Returned to the same dealer. This time they replaced the booster and master cylinder, but still had the spongy pedal. They contacted Ford engineering for advice. They were advised to replace the hydraulic control unit, which they did. Had to pay the $100 deductible for this visit, which I don't think is fair, because it is what I paid them for the last time, and now, I have the same failure (spongy pedal which goes all the way to the floor). I certainly don't want to pay them another $100 to fix something that I have already paid them to do. Is it a reasonable and customary practice to have to pay the deductible no matter what? It would appear they get paid if they fix the problem or not, which doesn't give much incentive to fix it.

[akirby]

It depends on whether it's considered a separate repair or a continuation of the previous unsuccessful repair attempt. When it happens very quickly (within a few days) it's pretty straightforward but when the repairs are a few weeks or months apart it becomes a grey area.

 

Check your warranty documentation for options - you should at least complain to Ford.