NEED HELP WITH DECIDING ON EXTENDED WARRANTY FOR LIGHTNING PRO

[Henry Ford]

There was someone on here a.coupleonths back that had a coolant valve fail. Result was $13K repair. That pretty serious IMHO.

Agreed.

1 ac compressor job would bankrupt some people, if it were to go south, the ESP is paid for.

True.

If we look at it another way, does it make sense to carry a liability that could bankrupt you? Insurance mitigates the problem but a better financial solution is to drive a less expensive vehicle with cheaper maintenance liabilities.

Sponsored

 

[RLXXI]

If we look at it another way, does it make sense to carry a liability that could bankrupt you? Insurance mitigates the problem but a better financial solution is to drive a less expensive vehicle with cheaper maintenance liabilities.

People don't think of that, they're mezmerised by new car smell.

Another good example of something unexpected that might hit, 2 tail lamp housings for these trucks is $5,500.00, that's right 5 grand.

 

[MTBAZ]

A new tail light is $1500-$5000
A new headlight is $2000
A new touch display on the dashboard $1500-$3000.

any one of these fail and it pays for the warranty. I drive low miles and keep my vehicles for 10 years or more.

 

[Henry Ford]

A new tail light is $1500-$5000
A new headlight is $2000
A new touch display on the dashboard $1500-$3000.

any one of these fail and it pays for the warranty. I drive low miles and keep my vehicles for 10 years or more.

All true, but what have you given up by purchasing the warranty? You have traded something for the ability to drive a nice truck and the piece of mind that failures are reasonably covered.

That "something" is opportunity cost and is mostly hypothetical, but I'm sure you can think of something you'd like if you had what you paid for the insurance in your pocket right now. Could be as simple as a little extra cash in the bank.

 

[Zprime29]

A new tail light is $1500-$5000
A new headlight is $2000
A new touch display on the dashboard $1500-$3000.

any one of these fail and it pays for the warranty. I drive low miles and keep my vehicles for 10 years or more.

I've seen a lot of claims as to whether the taillight/headlights are actually covered under the Ford ESP. I'm also not sure on the screen, do we know for certain?

 

[hturnerfamily]

still, while some may allude to 'Ford's ESP' as offered by Ford, thru Ford, is somehow an Extended "Warranty", you'll not find that word in the TITLE, or in the contract, as it is not anything to do with any warranty - it is, as it's title says: EXTENDED SERVICE PLAN.
The only use of the word 'Warranty' is in the 'after your New Vehicle Limited Warranty has expired' paragraph...

These are for service, not for warranty... although many coverages may seem to be similar.

Also, Auto Insurance does not pay for warranty items, service items, or wear and tear. It is for ACCIDENTS, whether your fault, or 'acts of God', such as a tree limb falling on it, or an animal jumping in front of you.
No, a 'leak' will not be covered by your auto insurance. Nor will a non-working tail light, or software that does not update properly, or brakes that fail. These are all maintenance issues, not insurance issues.

 

[SmoothJ]

A new tail light is $1500-$5000
A new headlight is $2000
A new touch display on the dashboard $1500-$3000.

any one of these fail and it pays for the warranty. I drive low miles and keep my vehicles for 10 years or more.

All true, but what have you given up by purchasing the warranty? You have traded something for the ability to drive a nice truck and the piece of mind that failures are reasonably covered.

That "something" is opportunity cost and is mostly hypothetical, but I'm sure you can think of something you'd like if you had what you paid for the insurance in your pocket right now. Could be as simple as a little extra cash in the bank.

I've seen a lot of claims as to whether the taillight/headlights are actually covered under the Ford ESP. I'm also not sure on the screen, do we know for certain?

From my understand, unless you get the Lights add-on, you won't be covered:

Ford ESP (Extended Service Plan) offers an optional "Lighting Option" specifically for the Premium Care plan that covers electrical failures of various light bulb types, including incandescent, halogen, HID, and LED lamp assemblies.

 

[BriyGuyUSA]

No, a 'leak' will not be covered by your auto insurance. Nor will a non-working tail light, or software that does not update properly, or brakes that fail. These are all maintenance issues, not insurance issues.

Yes, this confused me a little - I would never even try to claim against my auto insurance for a leaking window. I was just very surprised to see that ford indicates that an issue like this would typically be covered by your auto policy. Along with everything else they state is generally covered:

Generally Covered by Your Auto Insurance –
Examples include: fixed (non-moving) body parts, bumpers, glass, moldings,
ornamentation, paint, rust, sheet metal, structural underbody framework,
side and rearview mirrors (glass and housing), water leaks, wind noise,
weather strips, wheels, wheel studs, wheel covers, convertible top and bow.

 

[electricpig]

People don't think of that, they're mezmerised by new car smell.

Another good example of something unexpected that might hit, 1 tail lamp housing for these trucks is $5,000.00, that's right 5 grand.

I had one replaced with OEM aka the expensive one, it was $2050 retail. Not cheap, but not 5K

 

[RLXXI]

I had one replaced with OEM aka the expensive one, it was $2050 retail. Not cheap, but not 5K

$5,500.00 for the pair.

L/R https://parts.ford.com/shop/en/us/e...light-lamp-left-rear-(bev)-p-nl3z13405g?pdp=y $3,014.42

R/R https://parts.ford.com/shop/en/us/e...sher-lamp-right-rear-(bev)-p-nl3z13404g?pdp=y $2,478.38

 

[watts/up]

All true, but what have you given up by purchasing the warranty? You have traded something for the ability to drive a nice truck and the piece of mind that failures are reasonably covered.

That "something" is opportunity cost and is mostly hypothetical, but I'm sure you can think of something you'd like if you had what you paid for the insurance in your pocket right now. Could be as simple as a little extra cash in the bank.

I look at the warranty as an option on my truck that adds comfort. For you, that may be massaging seats. Not all options need be tangible and If my extended warranty keeps my blood pressure down just a little bit, it's money well spent in my book.

BTW, I'm not sure if Granger still provides it but when I purchased last summer I was given a zero interest option to pay each month over the course of the standard warranty. It felt kind of ridiculous to setup a payment plan for not a huge amount of money relative to the truck but it made it super low friction and easy to commit to.

 

[flyct]

I have Life Insurance. That way I insure that I won’t die.

All kidding aside. . My rule is, if you can AFFORD the loss you don’t buy the insurance. That also goes for a Ford ESP. I can afford anything that breaks on the Lightning so an EPS is not for me.

Saying all that I rarely keep cars or trucks past their basic warranty period. Having owned 70 new cars/Trucks in the last 60 years only once did I have a repair that would have cost more than the cost of an extended warranty or ESP. That was on a Ford transmission. Even then, Ford repaired it for no cost with goodwill funds.

 

[watts/up]

I have Life Insurance. That way I insure that I won’t die.

I get the joke but I didn't purchase a warranty so my truck won't break down. I purchased it because I don't want to have to think about it if it does. We all have different comfort levels, are in different economic situations, and have different luck with vehicles regardless of how long we keep them.

There are many valid perspectives here and no single right answer.

 

[Henry Ford]

I look at the warranty as an option on my truck that adds comfort. For you, that may be massaging seats. Not all options need be tangible and If my extended warranty keeps my blood pressure down just a little bit, it's money well spent in my book.

BTW, I'm not sure if Granger still provides it but when I purchased last summer I was given a zero interest option to pay each month over the course of the standard warranty. It felt kind of ridiculous to setup a payment plan for not a huge amount of money relative to the truck but it made it super low friction and easy to commit to.

I can't argue with your reasoning at all. I can think of at least one financial decision that I have made that wasn't conventional but it took risk off the table and allowed me to sleep at night. My Dad paid off his house early with a low interest loan. Not a great financial move but he had a lot of pride in owning his house outright.

Occasionally you'll hear someone talking about ESPs as if they are a bet. They kind of are a bet, but the odds are stacked badly against you. I have no problem with gambling, but if you are going to the casino to avoid bankruptcy you aren't making a great financial decision.

Nice move taking the zero interest option. You can use the money you saved on a nice conservative t-bill...or you could bet on the Lions to win the Superbowl!

 

[watts/up]

I can't argue with your reasoning at all. I can think of at least one financial decision that I have made that wasn't conventional but it took risk off the table and allowed me to sleep at night. My Dad paid off his house early with a low interest loan. Not a great financial move but he had a lot of pride in owning his house outright.

Occasionally you'll hear someone talking about ESPs as if they are a bet. They kind of are a bet, but the odds are stacked badly against you. I have no problem with gambling, but if you are going to the casino to avoid bankruptcy you aren't making a great financial decision.

Nice move taking the zero interest option. You can use the money you saved on a nice conservative t-bill...or you could bet on the Lions to win the Superbowl!

With the exception of the Lions (who I'd root for!) winning the Super Bowl, I cannot disagree with any of this.

Sponsored