Just received a mailer about the Extended Service Plan yesterday. I am sure this has been discussed at length somewhere before. However, I am now paying attention. Is ESP worth the money? Our '07 GT is not a daily driver and may never be, though i won't ever rule that possibility out. Bought her end of July last summer. She now has 2,894 mile on the odometer.

Who here has purchased the ESP? What level did you buy? How much does each level cost approximately?

I tried calling the Ford ESP folks early this morning, but due to a larger amount of calls, the wait was too long. I will try them again later today.

Can anyone shed some light on the costs and if it is really worth it. Thanks in advance.

 

I have not purchased an ESP and I probably would not. Consumer Reports had a recent article about these plans and the Ford ESP was mentioned. They concluded that most people lose money on them. There are too many exclusions to the coverage. According to Consumer Reports, the only folks who did not lose on these plans were Pontiac and Jeep owners; and even they only broke even.

 

Consumer Reports, April 2008: "Extended Warranties: A high-priced gamble"
also available on consumerreports.org.

 

ESP's IMO along with all other extended warranty programs are money makers for the companies that sell them. The simplest explanation of their value is that bascially they are an insurance policy against future repair costs for the owner. But Ford would not sell this if they did not make money at it, they only sell them to trun a profit. Plus the dealer selling them gets a commission for the sale. Ford has a probabilty equation they calculate. They sell x number of warranties for a total of y dollars. They repair v number of cars under warranty for z amount of dollars. z is always greater than y. It's the same as playing craps or slot machines, the odds are in their favor and they make money.

I also learned from an ESP that I got on a 1991 Ford Ranger that I had with a $50 deductible way back then. I think this was back when you got 12 months/12k miles on bumper to bumper. Well the notoriously bad AC in Ford trucks wasn't working right and I would take it in and they would say it was fixed, I'd give $50 and this happened over and over again. I finally took it to an AC shop they did a leak test found that it was a corroded condensor, a problem Ford was having and any Ford serviceman would have known, and then took it back to Ford and finally got it replaced. I didn't pay $50 that time, but I did not recover any of my previous money as I didn't have time to pursue the $200 I'd given them. I just didn't by a car from that dealer anymore! ESP no thanks!

 

Too many exclusions? Have you read the coverage that Premium Care gives you? Only thing not covered are basic wear items, the cat convertor, and other things. I can post the list if you like. Yes, I work at a dealership, BUT I put on on my car. I don't drive it that much (8,500 miles per year), but I want coverage on all the electronic items like power windows and such. I added a 7 year from startup, or 36,000 mile (will change it to 60 next year). Better to be safe than sorry.

You want proof how good these are and that people trust them? My father is a 55+ year mechanic (retired but still works on old cars for members of his AACA club). He just put a powertrain Ford ESP on this truck for the next 2 years or to 60,000 miles. He doesn't want to be bothered with any MAJOR items. Let Ford cover them. If a mechanic trusts them, what does that tell ya.

When it comes to the pricing, just so everyone knows, the ESP price is totally negotiable. Heck, I've sold Ford ESP's to members of this site at a discount already. If you want pricing, just let me know.

 

My Ford ESP for my 1989 'Stang paid for itself many times over. I had A/C problems, a power steering failure, and my trans needed to be rebuilt. Ford picked up all of that (I'm guessing about $2-3k) except for my deductible of $50.

My current ESP so far has been a bust. I have the 7 year, 60k mile ESP Premium Care, not a single thing wrong with the car. Of course, that is a GOOD thing.

 

mrkabc-

May I ask, how much was the total sum for Premium Care? No problem if you'd rather not divulge that info. I still can't get through to actually talk to someone on the phone.

 

I'd have to look it up on the sale docs of the car (almost 3 years ago). Let me see what I can find for you.

Another thought: You should get a quote from Jeff Greenly (05fordgt), I hear he hooks people up with good pricing for ESPs.

 

I have seen the extended warrentees really pay off well for my Brother's Mercedes, and also my next door neighbors Mercedes. These cars are horribly expensive to repair.
For a 2007 Mustang, I would just insure myself. They are very reliable and well designed vehicles. Buy insurance for the loses that you cannot afford to pay, and for the lesser things, save money by insuring it yourself. What I mean by that, is that you should lay aside a small amount each month for unexpected repairs in the amount that you would have paid for the ESP. Odds are, you will come out money ahead.

 

I agree 100%

Jeff can you PM me a price for a 2008 F150 FX4 My son has one on order and will be purcahsing the Premium Care as well 7/100k

I went with the Premium one for our Stang. And always will. We have 7/100k coverage for everything but wear items as indicated above plus it give you a rental car if need be.

Now what i will say is I certainly would not buy an aftermarket warranty most of those have a very strict set of rules that must be followed. Some even go as far as wanting you to install a special oil treatment and you must get it replaced every oil change at their facility in order to keep the warranty in tact.

 

Hey Richard, I'll shoot you a price on Monday, if its okay. By the time you posted, and I saw it, I was well out of work (we close at 5 on Saturday and are closed Sundays, as its a state law). I'll work up a discount price for you on Monday. About your son's truck? Its on its way in? Just want to make sure what I am looking at.

 

Hey Jeff, read the article. I trust Consumer Reports.

 

Not sure if it is on it's way. We placed the order about 6-8 weeks ago. No problem on getting back to me on Monday.

Thanks

 

Thats good you trust them. And I trust my father, who is a 56+ year veteran mechanic! For the price of the Ford ESP right now, to extend the bumper to bumper coverage to 5/60K (p-train is standard, and Ford has lowered prices on the plans on new cars), its under $800. Lets see how much it would cost for a new power window motor (between $250-$350 with labor), new radio (OEMs aren't cheap, but are covered on ESP) and any of the hundreds of different electrical items. If you have 3 things go wrong in 2 years, the ESP is paid for. When I dad, who can fix anything (and he can, trust me), buys a Ford ESP on his truck, (powertrain for the expensive stuff), that is telling me something. He knows its worth it.

 

I wouldn't take anything Consumer Reports has to say as gospel that is for sure. I have found over the years so much of their info is flawed and that is why i stopped getting it over 15 year ago.

 

ESP is going to be worthless when the dealer refuses to cover the replacement of a part, claims the problem can't be reproduced, or claims it is normal.

 

And there-in lies the age old dilemma, even with the B to B warranty

 

Why would you even say that? Ford pays the dealership within 24 hours of claiming a part via ESP. Its the other "aftermarket" warranties that are a PITA to deal with. Never get authorization, and never know when the money will be there.

 

Jeff: I've never been to Yocum Ford, but my experience with several dealerships in 2 different states is the same. Unless the problem is so obvious (like factory paint that is peeling off the hood as if it were a $200 rattle can job), the dealer will play every trick in the book to avoid fixing the problem.

 

Sorry to hear about your problems at dealers you have frequented. My store I work at is a small family run place, where we want people to come back again and again. So helping people is what we do.