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Ford Extended Warranty Plan Analysis (Cost-Per-Mile Comparison)

stroix

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My car just arrived at @Granger Ford and now I need to decide which warranty I should go with, if any.

This is only for the PREMIUM CARE ESP WITH $100 deductible as of 3/22/23.

I did a cost per mile analysis for each option in the table to find out what would be the best bang for the buck. I hope this will help others make an informed decision.

MILES/YEARS345678910
36,000-$380$410$435$525$600$685$785
48,000$475$505$530$590$745$850$975$1,120
60,000$550$585$620$695$895$1,030$1,185$1,365
75,000$720$780$840$955$1,275$1,470$1,695$1,955
85,000$940$1,010$1,085$1,230$1,480$1,700$1,950$2,240
100,000$1,070$1,110$1,165$1,275$1,420$1,640$1,900$2,200
125,000$1,410$1,460$1,540$1,690$2,020$2,340$2,710$3,140
150,000$2,105$2,180$2,295$2,520$3,020$3,500$4,055$4,695
175,000$2,510$2,600$2,740$3,015$3,615$4,195$4,865$5,635

Here's a breakdown of the cost per mile for each option, calculated as (Price / (Miles * Years)):

Ford Bronco Ford Extended Warranty Plan Analysis (Cost-Per-Mile Comparison) 1679500631368


Considering that most modern cars are built to last at least 100,000 miles without significant issues, it's reasonable to assume that the probability of encountering problems increases beyond the 100,000-mile mark. With that in mind, I chose a plan that offers coverage up to the 100,000-mile range.
Looking back at the cost per mile breakdown, the following options are close to the 100,000-mile range:
  1. 60,000 miles / 6 years: $0.0019 per mile
  2. 75,000 miles / 7 years: $0.0030 per mile
  3. 85,000 miles / 7 years: $0.0029 per mile
  4. 100,000 miles / 7 years: $0.0020 per mile
From these options, the 100,000 miles / 7 years plan stands out with a cost per mile of $0.0020, which is only slightly higher than the best overall cost per mile (60,000 miles / 6 years at $0.0019 per mile). This plan provides a good balance between coverage and cost, making it the best option when considering the potential for car issues beyond the 100,000-mile mark.

I hope this helps others in selecting which warranty to chose.
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PNWChris

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Cost/mile is irrelevant if you aren’t going to drive X miles in Y years.

How many miles/year you drive needs to be a big part of your thought process on this. Anyone who has been driving for a few years should be able to get a pretty good estimate going of how many miles they drive every year.
 

BigRed13

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That and the factor of cost of repairs and availability of parts. I can tell you I bought this for my truck based off mileage driven per year as mentioned above. I’ve used it once, just got my truck back Monday, and it already paid for itself. I’m $8500.00 better off as of now after subtracting the cost of the warranty. Side note, if you sell the vehicle you can be reimbursed for remaining warranty.
 

edernest

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My car just arrived at @Granger Ford and now I need to decide which warranty I should go with, if any.

This is only for the PREMIUM CARE ESP WITH $100 deductible as of 3/22/23.

I did a cost per mile analysis for each option in the table to find out what would be the best bang for the buck. I hope this will help others make an informed decision.

MILES/YEARS345678910
36,000-$380$410$435$525$600$685$785
48,000$475$505$530$590$745$850$975$1,120
60,000$550$585$620$695$895$1,030$1,185$1,365
75,000$720$780$840$955$1,275$1,470$1,695$1,955
85,000$940$1,010$1,085$1,230$1,480$1,700$1,950$2,240
100,000$1,070$1,110$1,165$1,275$1,420$1,640$1,900$2,200
125,000$1,410$1,460$1,540$1,690$2,020$2,340$2,710$3,140
150,000$2,105$2,180$2,295$2,520$3,020$3,500$4,055$4,695
175,000$2,510$2,600$2,740$3,015$3,615$4,195$4,865$5,635

Here's a breakdown of the cost per mile for each option, calculated as (Price / (Miles * Years)):

1679500631368.png


Considering that most modern cars are built to last at least 100,000 miles without significant issues, it's reasonable to assume that the probability of encountering problems increases beyond the 100,000-mile mark. With that in mind, I chose a plan that offers coverage up to the 100,000-mile range.
Looking back at the cost per mile breakdown, the following options are close to the 100,000-mile range:
  1. 60,000 miles / 6 years: $0.0019 per mile
  2. 75,000 miles / 7 years: $0.0030 per mile
  3. 85,000 miles / 7 years: $0.0029 per mile
  4. 100,000 miles / 7 years: $0.0020 per mile
From these options, the 100,000 miles / 7 years plan stands out with a cost per mile of $0.0020, which is only slightly higher than the best overall cost per mile (60,000 miles / 6 years at $0.0019 per mile). This plan provides a good balance between coverage and cost, making it the best option when considering the potential for car issues beyond the 100,000-mile mark.

I hope this helps others in selecting which warranty to chose.
Nice work and thanks for putting this together for others to review. I purchased an 8 year 100k warranty last year shortly after I got my Bronco assuming that I'd probably put on around 12k miles per year, and at the time I did a less extensive cost/value comparison against a few options I was considering. I'm approaching my one year anniversary of ownership at currently just over 12k, so hopefully my math holds true in the long run.
 

edernest

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Cost/mile is irrelevant if you aren’t going to drive X miles in Y years.

How many miles/year you drive needs to be a big part of your thought process on this. Anyone who has been driving for a few years should be able to get a pretty good estimate going of how many miles they drive every year.
I would agree with this. Ideally you are hitting the both the age/mileage expiration around the same time to maximize your potential benefit of the warranty.
 

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RagnarKon

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Sweet... I love nerdy analysis.

Personally the length of time for me was more important than the mileage, since this is a fun weekend vehicle. So for me the calculation was effectively cost-per-year rather than cost-per-mile. All I had to do was make sure I had enough miles for a given length of time. I was guesstimating ~7500 miles per year average, maybe as high as 10,000, but definitely not higher than that.

The pricing was different when I ordered—I ended up with a 8-year 85,000 mile. But based on your numbers I probably would have picked the 6-year, 75,000 mile, or 6-year 60,000 mile.

Ford Bronco Ford Extended Warranty Plan Analysis (Cost-Per-Mile Comparison) 1679502112234
 

Bronco_montana

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PS- you don’t have to decide at time of purchase. Plenty of time to decide which way to go.

Appreciate the effort that went into this. I plan to buy a plan from Granger/ I have one on my F150 ecobeast and it’s paid for itself and I highly recommend the Ford plan.
 

ElDuderino

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PS- you don’t have to decide at time of purchase. Plenty of time to decide which way to go.

Appreciate the effort that went into this. I plan to buy a plan from Granger/ I have one on my F150 ecobeast and it’s paid for itself and I highly recommend the Ford plan.
How long after vehicle purchase do we have to buy a plan?
 

BostonSasquatch

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I'm at 18,000 miles and 10 months ownership. Have I missed out?
 

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How long after vehicle purchase do we have to buy a plan?
Within the new vehicle's limited warranty period (3 years/36k miles).

It's slightly cheaper if you do it within the first 12k miles, I believe, but a small difference.
 

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Bronco_montana

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I bought my Ford plan for the F150 at 60k miles lol!
 

Norm A.

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Being retired now I got the 10 year 60,000 miles because I'll only use it for weekend fun and trips now and then to Utah, Nevada, Arizona and Tahoe from San Diego plus I wanted to keep my out the door price under 70 grand LOL 🍍🍕😎
 

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I went ahead and got mine through granger because I was paranoid they might stop offering the $50 over cost deal. I had the 200k pass points from the mod top fiasco that helped.
 

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Something else to consider is the benefit to resale value if you still have the extended warranty when selling. Last time I had a Ford, 2003 Expedition, I got a better price selling it myself because it still had almost 3 years and 30k miles left on the Ford ESP. Buyer was willing to pay higher price for a used vehicle with almost a new car warranty.
 

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Is premium care the move on extended warranty? Whats the consensus?
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