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Risk Management - Did you ever use your F150 Ford Extended warranty?

Did you ever actually use your Ford ESP plan? If so was it worth what you paid for it?


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    31
  • Poll closed .

SemperVee

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22 F150 Lariat owner here doing risk management assessment of should I buy the Premium ESP or not? 5K annual mileage driver here use it as grocery getter daily driver only I am retired now. $1210 for 8 yr 60K $0 ded seems pretty reasonable for an additional 5 yrs of factory like coverage but, what are the odds of getting to use it? Google is of no help here finding percentage of users actually using the warranty; so I am asking the owners to weigh in who drive and use our beloved F150's to answer up. If you have it did you ever use it? Or wish you had had bought it?

 

Harry Dangler

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22 F150 Lariat owner here doing risk management assessment of should I buy the Premium ESP or not? 5K annual mileage driver here use it as grocery getter daily driver only I am retired now. $1210 for 8 yr 60K $0 ded seems pretty reasonable for an additional 5 yrs of factory like coverage but, what are the odds of getting to use it? Google is of no help here finding percentage of users actually using the warranty; so I am asking the owners to weigh in who drive and use our beloved F150's to answer up. If you have it did you ever use it? Or wish you had had bought it?
There are things like interior and exterior lighting which isn't covered after the 3 year 36k factory warranty and the head and tail light leds I believe are complete assemblies at 1100 or 1200 dollars apiece not to mention all the electronics It's a gamble for sure but I would rather have the piece of mind and not worry about it
 

Kanuck

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I am going to get the ESP just because of all the tec on these trucks. I asked at my dealer just last Monday about pricing out headlights. There is a board on back of the assembly and a module under it as well. One side is just under $2300 an the other side ( for some unknown reason) is just under $2400. The module will add another $600 if needed. I have also heard that the 12 inch screen is around the $2900 plus install plus programing. I didn't get tail light pricing because mine are not LED. I was quoted $4000 for the 7 year 150,000 km package. It could pay for itself with just a couple of claims. I understand it will be a gamble, but it is one I am willing to take.

Note: Canadian funds
 

Buyer2021

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I suggest that the risk-management evaluation you seek has already been done by Ford and the result is 'public'.

Ford's actuaries have done that and you can be assured that the statistics show over the total population of ESP buyers they do not recover their costs. That fact is what allows Ford to be in the ESP business.

You can 'poll' actual forum owner experience but it won't change that fact at all, it'll just give you examples of folks who are part of the population that do or do not recover their ESP purchase cost.

Those 'poll anecdotes' will tell you nothing and give you no basis for estimating the chance that you will fall into any part of the ESP-buying population. It's akin to the well-proven coin-toss statistics .... whether you toss once or a million times, the odds are 50-50; there's absolutely no way to predict any 'better' for any individual toss. There is absolutely no way for you to predict if you will fall in the 'winning heads' or 'losing tails' part of the ESP-buying population.

I suggest that since the statistical likelihood of payback is known (it is not in your favor), your own buying decision should be based on evaluation of other 'personal value' factors, e.g.
  • Would purchase of an ESP adversely affect / burden your current financial situation?
  • Would a future significant unexpected vehicle repair (of the sort covered by an ESP) hurt you more than the up-front purchase of an ESP?
  • Do you enjoy day-to-day life more (are you more relaxed and happier) when you know that you've reduced the risk of unexpected large expenditures, even when you paid for that priviledge?
  • Does the 'general peace of mind' offered by an ESP hold 'value' for you? That's not a financial value calculation but a personal / psychological value determination which is perfectly real and legitimate for you and varies person-to-person (AKA 'personal risk tolerance').
I suggest that 'polling' others will not tell you anything about your own 'valuation' of an ESP, unless you find comfort ('value') in being a follower of forum-poll trends (and IMO that'd be a sad place to be).
 
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SemperVee

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I suggest that the risk-management evaluation you seek has already been done by Ford and the result is 'public'.

Ford's actuaries have done that and you can be assured that the statistics show over the total population of ESP buyers they do not recover their costs. That fact is what allows Ford to be in the ESP business.

You can 'poll' actual forum owner experience but it won't change that fact at all, it'll just give you examples of folks who are part of the population that do recover their ESP purchase cost, and there are doubtless many of those cases (I have in the past on a non-F150 Ford).

But, that will tell you nothing and give you no basis for estimating the chance that you will fall into that part of the ESP-buying population. It's akin to the well-proven coin-toss statistics .... whether you toss once or a million times, the odds are 50-50; there's absolutely no way to predict any 'better' for any individual toss. There is absolutely no way for you to predict if you will fall in the 'winning heads' or 'losing tails' part of the ESP-buying population.

I suggest that since the statistical likelihood payback is known (it is not in your favor), your own buying decision should be based on evaluation of other 'personal value' factors, e.g.
  • Would purchase of an ESP adversely affect / burden your current financial situation?
  • Would a future significant unexpected vehicle repair (of the sort covered by an ESP) hurt you more than the up-front purchase of an ESP?
  • Do you enjoy day-to-day life more (are you more relaxed and happier) when you know that you've reduced the risk of unexpected large expenditures, even when you paid for that priviledge?
  • Does the 'general peace of mind' offered by an ESP hold 'value' for you? That's not a financial value calculation but a personal / psychological value determination which is perfectly real and legitimate for you and varies person-to-person.
I think you have provided the most comprehensive and concise logical answer that covered all the bases. Thank you.
 


PPK

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22 F150 Lariat owner here doing risk management assessment of should I buy the Premium ESP or not? 5K annual mileage driver here use it as grocery getter daily driver only I am retired now. $1210 for 8 yr 60K $0 ded seems pretty reasonable for an additional 5 yrs of factory like coverage but, what are the odds of getting to use it? Google is of no help here finding percentage of users actually using the warranty; so I am asking the owners to weigh in who drive and use our beloved F150's to answer up. If you have it did you ever use it? Or wish you had had bought it?
I would quibble with the 0 deductible.. i did $100 which is nominal.. and went 100k miles.. basically i think trucks will be a luxury going forward and the additional miles might help you sell for maximum.. When you do the ESP make sure you get the coverage rider for the LEDs.. too. You also would want the rental coverage.. included, another benefit.. at least do the 75k miles.. your powertrain covers 60k 5 yrs anyway.. Ford has some great pricing on its ESP. My JGC is half again as much.. its not a big hit in the big scheme of things of anyway.

And my hunch is 7 years down the road.. we will have $150k trucks. So we may as well keep our powder dry and maintain these - as best we can… that warranty will help with all the little things you don’t need to have repaired - like an oil leak.. or an A/C not working… i say lets get a fully operational truck in 7 years (my case) and then limp along if we need to… that sounds cheap.. but i think the 3 year life cycle of trading in is toast… 10 is going forward if we are lucky..
 
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SemperVee

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I would quibble with the 0 deductible.. i did $100 which is nominal.. and went 100k miles.. basically i think trucks will be a luxury going forward and the additional miles might help you sell for maximum.. When you do the ESP make sure you get the coverage rider for the LEDs.. too. You also would want the rental coverage.. included, another benefit.. at least do the 75k miles.. your powertrain covers 60k 5 yrs anyway.. Ford has some great pricing on its ESP. My JGC is half again as much.. its not a big hit in the big scheme of things of anyway.

And my hunch is 7 years down the road.. we will have $150k trucks. So we may as well keep our powder dry and maintain these - as best we can… that warranty will help with all the little things you don’t need to have repaired - like an oil leak.. or an A/C not working… i say lets get a fully operational truck in 7 years (my case) and then limp along if we need to… that sounds cheap.. but i think the 3 year life cycle of trading in is toast… 10 is going forward if we are lucky..
Does "Premium" not cover the LED's?
 

Antimatter22

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I look at it like having good insurance. I hope I never have to use it, but I'm sure I'll be damn glad I do if something would ever pop up.
 

BMWtoF150

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I have not used it on my 21, but used it twice on my 17 F150. It was in the shop a total of about 40 days. They had to replace the wiring harness in the cab. That involved removing the interior. They put me in a new Expedition ( had the rental option) while mine was in the shop. I put about 3000 miles on it. My truck had around 57,000 miles when this was performed.
 


Snakebitten

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First of all there's no hurry to decide on a truck that is still inside its 36/36 bumper to bumper.
Yes, it does go up in price a bit if you wait, but not enough for me to feeeeel the pressure. :)

But for me personally the decision rides on how it affects my ownership experience overall. I avoid angst and worry like the plague. So the ESP Ford authorized warranty can thwart the worry if/when the ugly beast pops up trying to steal my joy.
 

erixgix

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@Buyer2021 covered the cost basis / analytical consideration well.
I’ll add that examining the cost grid will also show you what the historical anticipated ‘breaking’ point is from Ford’s perspective. Essentially it’s the point on the grid where you see noticeably larger increases compared to the more gradual or linear increases.
I used that to tell me when does Ford expect the problems to occur. I inferred that Ford expects problems from year 9 as they don’t offer anything beyond, which coincides nicely with the mileage cost spiking up from 100k to 120k, about where avg mileage would at year 9+.
With the cost per mile being only negligibly higher up to 100k, it made sense to n b pick that even though I don’t put on that mileage typically.

I’ve never purchased an extended over the years, but seeing the part cost and complexity, it made sense this time. Especially as it’s much smaller as a percentage of the trucks total cost compared to what they have been in the past. Not quite a no brainer, but one self turning headlight @ 1,500 to 2,000 (2030 cost?) later….
Also means you have to add the light package, $70 or whatever it was is cheap!
 

pavementends

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Coincidentally just yesterday bought the PremiumCARE ESP from Flood. My first ever new vehicle and while I've always preferred to diagnose and fix my vehicles myself, my rationale for the ESP was same as everyone else: too much tech on my truck to fix myself and based on inflation wise to grab an insurance plan sooner than later. I plan to drive this vehicle for 100k miles/10 years.

$1,302 for 85k miles / 7 years, $200 deductible
 
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Demps

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Have never had a need for an extended warranty because traded my vehicles before the end of 3 ur/36,000 mile warranty.

Times have changed. Have 23,000 miles in 16 months on my 2021 Limited. Can’t find an acceptable replacement and don’t expect to find one any time soon. Won’t be long before I’m at 36,000 miles.

The stakes/risks are too high to gamble won’t have a really expensive claim. Just like having health insurance.
 
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SemperVee

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I don't know why everyone is referencing the LED when the brochure I am looking at plainly states it at the top it is covered?

LED Assy in Electrical Ext Warr.jpeg

 

 
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