I picked up my '24 Maverick XL hybrid yesterday, and the dealer tried to sell me a 10-year/100k mile warranty for over $5k. I pushed back but was told I could cancel within 60 days for a full refund, so I decided to get it and do some research later.
The dealership argued that while the truck already has a 3-year bumper-to-bumper and 8-year hybrid system warranty, modern cars often have issues with electronics and computers, which are expensive to fix or replace. They claimed the extended warranty would pay for itself with just a couple of repairs due to the complexity of modern vehicles.
My most recent car was a 2012, so I’m not familiar with the reliability of newer models. I am financially secure, so covering repair costs wouldn’t be a major issue, but I’m curious whether others think this extended warranty is worth it, especially for a Maverick. If nothing breaks within the factory warranty, what are the chances of issues later on? Ultimately, I’m wondering what’s more cost-effective: the warranty or paying for repairs out of pocket.
I would recommend canceling right away and purchasing one online if that sounds appealing. I got a 10-year/100k premium care warranty with a $0 deductible for $2,750 from Flood Ford ESP, which is an official dealer.
It is wild how similar our situations are. I could have written this myself. The newest car I’ve had was also a 2012 model a Kia that’s had a lot of electrical problems. I am waiting for my Maverick to arrive at the dealership, and I am feeling a bit anxious about dealing with the finance guy’s sales pitch for warranties. I’m also curious whether any of those warranties are actually worth it.
Was it a Sportage? That would be even wilder! Mine had electrical issues as well like the rear window would roll down but wouldn’t go back up using the driver controls, the trunk latch stopped working from the outside, and the cruise control also stopped functioning.
Haha, no, it is a Sedona. There’s a parasitic drain linked to the memory fuse. Whenever the temperatures drop below 50 degrees at night, the battery is dead by morning, but it’s fine in warmer weather. A few years ago, I spent way too much time and money at the dealership trying to get them to diagnose and fix the problem, but they couldn’t figure it out. Their best advice was to leave the memory fuse unplugged. I’ve also had another vehicle, a Jeep Patriot, with electrical issues, so I’m a bit paranoid about electrical components failing, which makes warranties more appealing. This will be my first hybrid and also my first brand-new vehicle, so I’m not sure what to expect.
Cancel it. The extended warranty mainly benefits the dealer. If you financed your truck and the warranty was included in the loan, canceling it will only lower your loan balance, but your monthly payment will stay the same. You can always purchase the extended warranty through Ford again, likely at a much cheaper rate, right before the factory warranty expires.