Advice with ESP's?

[EricMurphyVC]

Hey everyone, new member to the forum so forgive me if this is the wrong place to post. I saw a few posts around other forums about ESP's and I am currently in the market for one so I thought I would start an up to date one here.

The current place I'm looking at is Warrick Ford, here's the page if anyone is curious: http://www.warrickfordwarrantyonline.com/ford-edge-extended-warranty

My mother-in-law was the one who recommended them, and so far they've been helpful with my questions, and seem to offer pretty competitive pricing. Anyway, I'd like some more input, anyone have experience with them? Different Company? Etc..

Thanks!

[akirby]

Check prices at floodfordesp.com also. I think that's the url. Google it if necessary.

 

You only want the Ford ESP - no 3rd party stuff.

 

In the long run you'll save money by not buying extended warranties. It's a gamble on any specific vehicle. The only time I recommend them is if you're on a fixed income and can't afford an expensive repair but then you need to finance the warranty with the vehicle so you're only paying a few bucks per month.

 

Remember the ESP only kicks in after the factory warranty expires, so a 7 yr/100K ESP only covers the powertrain for 2 yrs/40K miles (after the factory 5/60K).

 

If you're paying $1500 cash, consider putting that in the bank instead and using it to pay for any repairs. At the end of the ESP period you get to keep whatever you didn't spend or use it on other vehicles.

 

Just remember it's a gamble and the odds are not in your favor - just like Vegas.

[ls973800]

In my experience, I have had at least 8 different extended warranties, and only ONE time did I lose money on it. The other 7 times I was well over the cost of the warranty versus how much was paid out by them for repairs.

 

It is a gamble no doubt, but I like the odds in my favor since I tend to keep our cars and trucks for at least 100000 miles or 7 or more years. I don't mind making a one time up front payment to an online seller of factory warranties for a 0 deductible, first day rental car included policy. The warranties also allow any pertaining TSB's to be performed at no cost after the factory warranty is up.

 

There are many items which are covered which only fall under the bumper to bumper warranty of 3 years or 36000 miles. You are gaining extra years and miles on those parts being covered also, not just power train parts.

 

If you don't keep your car for the full term of the warranty, you can transfer it to a buyer if you sell the car yourself. I have done that a few times, and it sure is nice being able to help sell a used car by offering remaining warranty.

 

I got mine this time from Anderson and Koch Ford on line. There are several dealers on line that most people purchase from. Flood Ford, Ziggler Ford, Anderson and Koch Ford, and a few others that a Google search will find.

[akirby]

By contrast, our last 5 vehicles (Lincoln LS, Fusion, Edge, Aviator, Expedition) were kept 5-7 years and well beyond the factory bumper to bumper warranty. I only had two minor repairs on all of those that would have been covered by an ESP - a $60 door handle on the Fusion and a $150 cooling fan on the Edge. Had I purchased a $1500 ESP on all of them I would now be $7380 in the hole.

 

You can always get a lemon (or two) but 7 out of 8 vehicles needing more than $1500 in ESP covered repairs sounds really abnormal. Which vehicles were they?

 

Think about it - if, on average, these insurance policies (that's all they are) paid out more than they cost then the company selling them would lose money and they'd stop selling them.

[MrHappy]

If you are going to buy an extended warranty the BEST time to do so is at purchase or within the first year/12K miles as the price climbs from there. For example, our Edge Sport AWD 6/75 was under $600 for a PremiumCare Ford ESP warranty at purchase. If we had waited until the end of our factory warranty it would have more than tripled. Just FYI for those that are considering it.

[akirby]

The actual price difference before the first 12 months/12K miles and after (but before the 3 yr/36K bumper to bumper warranty expires) is only $100 for the same coverage (which runs concurrent with the factory warranty).

 

The only way I can see for the price to triple is if the 6 yr/75K warranty started at the time the warranty was purchased so buying later provides a lot more coverage. But that's not how Ford ESPs generally work.