Thanks OP this is timely. I’m about to get mine back tomorrow after waiting on a part for 8 weeks and I’m at 29,000 miles. Looking to extend or sell not sure at this point, concerned for what the future may hold (I have the special AA engine tooMy 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/YEARS 3 4 5 6 7 8 9 10 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)):
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:
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.
- 60,000 miles / 6 years: $0.0019 per mile
- 75,000 miles / 7 years: $0.0030 per mile
- 85,000 miles / 7 years: $0.0029 per mile
- 100,000 miles / 7 years: $0.0020 per mile
I hope this helps others in selecting which warranty to chose.
).
Premium Care shows water pump listed under engine in brochure
I agree. However I was informed today via phone message that a water pump is NOT covered under my premium plan. We shall see if they made a mistake or are trying to shaft me. BTW, water pump is on 2018 Mustang GT with 80,000 miles. Warranty mileage is 100K and years covered are still good.
This is a key point that everyone seems to skip over when doing these types of analysis. You are paying money for something today that has zero value for 3 years / 36k. Don’t forget the factory drive train warranty is 5 years / 60k which further erodes the actual value of these extended warranties. This is such an important component of analyzing the perceived value of these warranties but is usually omitted from people’s personal analysis.
StixHunt is 100% correct on this. I typically put 275,000 to 300,000 miles on my trucks before I replace them. I have been exclusively a Ford guy since 1991 and have never had to make any repairs that I couldn't do myself.
Unfortunately I dont have a garage or a drive way. I live in a high rise in downtown. I do not have tools or the space to do my repairs. I park in a 3 story parking garage where there are cars to my left, right, below, and above. Where am I supposed to drop my transmission out when something goes wrong? What im trying to say...is that not all of us have the same circumstances. And paying $1500 for a repair that could cost $1000-$10000 (say 87k miles or 6 years from now)...might actually be a good idea. Just saying.
thumbs up, way up for doing this chart!!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/YEARS 3 4 5 6 7 8 9 10 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)):
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:
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.
- 60,000 miles / 6 years: $0.0019 per mile
- 75,000 miles / 7 years: $0.0030 per mile
- 85,000 miles / 7 years: $0.0029 per mile
- 100,000 miles / 7 years: $0.0020 per mile
I hope this helps others in selecting which warranty to chose.
I'm in the camp that thinks you should have an emergency fund instead of paying for warranties/extra insurance. In hindsight, I've never needed them so I'm glad I never wasted my money on them. But I do have a decent sized emergency fund should anything pop up. Better to have that money in my high yield savings account earning me more money instead of lining Ford's pockets with more money
.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/YEARS 3 4 5 6 7 8 9 10 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)):
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:
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.
- 60,000 miles / 6 years: $0.0019 per mile
- 75,000 miles / 7 years: $0.0030 per mile
- 85,000 miles / 7 years: $0.0029 per mile
- 100,000 miles / 7 years: $0.0020 per mile
I hope this helps others in selecting which warranty to chose.
You’re missing the factory 5 year / 60k drivetrain warranty. So in your example of a 6 year warranty you would be buying a product that only provides one additional year of coverage on the most expensive components of the vehicle and then three on everything else.
