New Hybrid!

[Jay Dee]

Hey guys

 

Got my 2014 Hybrid last week. I've been lurking and reading through all the posts all week (already have foam pipes in the grille). I realized I severely overpaid for my Ford ESP and the extended warranty (about $3000 including taxes for each). I haven't got the paperwork yet but does anyone know if I can cancel them? It has kinda ruined the fun of owning such a fantastic car. I was really tired that day and the dealer was really pushing for it.

 

JD

Edited January 6, 2014 by Jay Dee

[hybridbear]

Congratulations & welcome! You can get a refund. Contact your salesman and request one. There is usually a cancellation fee (around $50), but otherwise you'll get a full refund.

[Jay Dee]

Thanks. I thought so after browsing some other Ford forums. I talked with the sales person and he said it cannot be done.

[hybridbear]

Thanks. I thought so after browsing some other Ford forums. I talked with the sales person and he said it cannot be done.

Is it a Ford ESP? What does the fine print in your contract say? You mention above that you don't have the paperwork...didn't you get a copy of everything when you paid & picked up the car?

[Jay Dee]

It's Ford ESP. I didn't get all the pages in the paperwork. But I looked them up online and looks like it can be cancelled. Now I need to check the conditions for the extended warranty.

[acdii]

Isnt the ESP also the Extended warranty?

[Jay Dee]

Isnt the ESP also the Extended warranty?

 

According to the dealer they are different. Or, I got conned badly.

[jeff_h]

I believe the Ford plan is called the ESP, there are others out there though I don't think they also use that same acronym. When I bought the hybrid the guy in the finance office offered two different plans, one was the Ford ESP and the other was a Third Party one that I *think* (IIRC) was called EasyCare. I declined both and purchased online from Flood.

[KLH]

Congrats on the purchase. I hope you get your issue sorted.

[Jay Dee]

I believe the Ford plan is called the ESP, there are others out there though I don't think they also use that same acronym. When I bought the hybrid the guy in the finance office offered two different plans, one was the Ford ESP and the other was a Third Party one that I *think* (IIRC) was called EasyCare. I declined both and purchased online from Flood.

 

Both are from Ford in my case. One says "Ford ESP" and the other says "Ford AGMENT" or something similar.

Edited January 8, 2014 by Jay Dee

[hybridbear]

The dealer our black FFH came from pushed the EasyCare hard. The dealer who sold us the white one didn't even try to sell us ESP. The finance guy asked if we wanted to see pricing. I said, "No thanks". And he moved on. I think from some of our previous conversations he knew that he couldn't con me into buying one so he didn't even both to print out pricing for me.

[jeff_h]

The dealer our black FFH came from pushed the EasyCare hard. The dealer who sold us the white one didn't even try to sell us ESP. The finance guy asked if we wanted to see pricing. I said, "No thanks". And he moved on. I think from some of our previous conversations he knew that he couldn't con me into buying one so he didn't even both to print out pricing for me.

 

I always ask for pricing, so I can post the "special deal" that they pitched to me here on the forum and pass info to others. On the past Ford purchases the "special deal" after knocking off a few hundred bucks was about 50-80% higher than I bought from Flood. But that was less than when I had the P-p-p-prius (for you, Acdii) and their "special deal" was $300 off and only $1,695 for me, I knew about another source from the P-p-p-prius forum and bought it from a dealer in KS for $785, so the friendly Toyota dealer was over a 100% markup from where I bought it. So for those lurkers about to cut your best deal and take delivery, sure you can just roll the cost of the Extended Warranty into the financing but you may end up paying a bit more for that convenience.

[GrySql]

 

I always ask for pricing, so I can post the "special deal" that they pitched to me here on the forum and pass info to others. On the past Ford purchases the "special deal" after knocking off a few hundred bucks was about 50-80% higher than I bought from Flood. But that was less than when I had the P-p-p-prius (for you, Acdii) and their "special deal" was $300 off and only $1,695 for me, I knew about another source from the P-p-p-prius forum and bought it from a dealer in KS for $785, so the friendly Toyota dealer was over a 100% markup from where I bought it. So for those lurkers about to cut your best deal and take delivery, sure you can just roll the cost of the Extended Warranty into the financing but you may end up paying a bit more for that convenience.

My question is, of the 4 ESP plans* available, which do you consider the best buy? There are many service differences, deductibles and prices.

This is also important when your State uses the CARB extended hybrid powertrain warranty.

In addition, the ESP plan price increases after the car has acquired over 12,000 miles. In my case, Flood's price went up over $200.

 

*(Premium, Extra, Base and Powertrain)

[Jay Dee]

 

I always ask for pricing, so I can post the "special deal" that they pitched to me here on the forum and pass info to others. On the past Ford purchases the "special deal" after knocking off a few hundred bucks was about 50-80% higher than I bought from Flood. But that was less than when I had the P-p-p-prius (for you, Acdii) and their "special deal" was $300 off and only $1,695 for me, I knew about another source from the P-p-p-prius forum and bought it from a dealer in KS for $785, so the friendly Toyota dealer was over a 100% markup from where I bought it. So for those lurkers about to cut your best deal and take delivery, sure you can just roll the cost of the Extended Warranty into the financing but you may end up paying a bit more for that convenience.

 

I wish I had known about this earlier. Looks like a long fight ahead for me to get everything cancelled.

[jeff_h]

My question is, of the 4 ESP plans* available, which do you consider the best buy? There are many service differences, deductibles and prices.

This is also important when your State uses the CARB extended hybrid powertrain warranty.

In addition, the ESP plan price increases after the car has acquired over 12,000 miles. In my case, Flood's price went up over $200.

 

*(Premium, Extra, Base and Powertrain)

 

I suppose everyone has their preferences over what they think are worth spending the money on, pricing according to one's tolerance for risk. Personally, I always get the PremiumCare option that covers the most things, as if I'm gonna plunk down the money I don't want a service advisor and Ford warranty quibbling over whether they think an item is covered - so I want the best chance of everything to be covered. But again, maybe others just want to protect the biggest ticket items like power train and let the rest go and save the money, to each his/her own.

Edited January 8, 2014 by jeff_h

[GrySql]

 

I suppose everyone has their preferences over what they think are worth spending the money on, pricing according to one's tolerance for risk. Personally, I always get the PremiumCare option that covers the most things, as if I'm gonna plunk down the money I don't want a service advisor and Ford warranty quibbling over whether they think an item is covered - so I want the best chance of everything to be covered. But again, maybe others just want to protect the biggest ticket items like power train and let the rest go and save the money, to each his/her own.

I had that ESP premium plan on my Ford Expedition EB 4X4, there were times it came in mighty ($$) handy.

I'm with you, dealership shop hourly rates and parts are expensive, a Premium warranty can pay you back in one visit to the Dealer.

 

I didn't purchase a plan earlier because I wasn't sure I was keeping this car, with all the strange issues and all.

Lately it's just getting better all the time and we've become attached to each other - so looks like it will stay.

[jsolan]

My question is, of the 4 ESP plans* available, which do you consider the best buy? There are many service differences, deductibles and prices.

This is also important when your State uses the CARB extended hybrid powertrain warranty.

In addition, the ESP plan price increases after the car has acquired over 12,000 miles. In my case, Flood's price went up over $200.

 

*(Premium, Extra, Base and Powertrain)

 

 

With all the electronics on this car, the only plan I even considered was the Premium. I still haven't pulled the trigger, but when I checked tonight the prices for over 12,000 miles appear to be the same under the premium plan.

[jeff_h]

With all the electronics on this car, the only plan I even considered was the Premium. I still haven't pulled the trigger, but when I checked tonight the prices for over 12,000 miles appear to be the same under the premium plan.

 

I don't know that there's a price increase after 12k miles, don't remember seeing that one... however do a check with price quote of delivery date of under a year and over a year, difference should be $100, at least it was when I last checked.

[thavil]

Jay Dee - Per your ESP contract, you have 30 days to cancel for a full refund. They cannot say no on this. If you financed your car, the refund for the ESP will go directly to your lender towards your balance. This is in the fine print of your contact. What you are calling your extended warranty is probably the dealers maintenance plan that they sold you.

 

Here's a suggestion, if you want to keep your ESP but now realize that you paid too much like I did, go to Flood Ford's website and print out their pricing. Take the printout to your finance guy at the dealer and tell him or her that you want to cancel the ESP unless they match Flood's price. Worked for me and a few others here. Even though the dealer doesn't get a huge markup, the finance guy still gets his commission on the warranty sale.

Edited January 10, 2014 by thavil

[Texasota]

Consumer Reports is not a fan of extended warranties. Here is an article explaining their view on extended warranties:

 

http://www.consumerreports.org/cro/news/2013/07/is-it-worth-buying-an-extended-car-warranty/index.htm

Edited January 10, 2014 by Texasota

[Jay Dee]

Jay Dee - Per your ESP contract, you have 30 days to cancel for a full refund. They cannot say no on this. If you financed your car, the refund for the ESP will go directly to your lender towards your balance. This is in the fine print of your contact. What you are calling your extended warranty is probably the dealers maintenance plan that they sold you.

 

Here's a suggestion, if you want to keep your ESP but now realize that you paid too much like I did, go to Flood Foods website and print out their pricing. Take the printout to your finance guy at the dealer and tell him or her that you want to cancel the ESP unless they match Flood's price. Worked for me and a few others here. Even though the dealer doesn't get a huge markup, the finance guy still gets his commission on the warranty sale.

 

Yes the other is the Ford maintenance agreement. I'll be going there again in the next few days to get both of them canceled. Thanks!

 

BTW both plans are for 7yr/75k.

[Skydogz]

I believe the Fusion HYBRID (only) comes with an additional manufacturer's 80,000 mile warranty on hybrid related parts....

[dkegel]

Consumer Reports is not a fan of extended warranties. Here is an article explaing their view on extended warranties:

 

http://www.consumerreports.org/cro/news/2013/07/is-it-worth-buying-an-extended-car-warranty/index.htm

 

Their dislike is based on these two things:

 

a) dealers charge whatever the market will bear, and a 50-percent cut for sales commissions is not unusual.

b) Sixty-five percent of those surveyed said they spent significantly more for the contract than they got back in repair-cost savings

 

I don't care about (a), or who gets the money. Besides, I paid Flood Ford's price. As for (b), that means 35% got their money's worth. Those are not bad odds when you're talking about what is essentially insurance. Think how many hundreds of thousands of dollars people spend on car insurance and home owners insurance over their lifetime that they never get back. Does Consumer Reports think we shouldn't pay for those either?

 

Dave

Edited January 9, 2014 by dkegel

[acdii]

I have had 3 of them, two paid off BIG, third one, I hope never has to pay off, but glad to have it if I need it(its for the HyTi to 125K miles). The first one I paid $1800 for, the repairs it covered exceeded $3000. The second one I never used, but I had bought it for $1900(What did I know then) for the Prius, then found I could buy it online for $800, called to cancel, they sent me a refund of $1200 instead(First good deal), then when I traded the car in, and canceled, I got another $1500 back. For the first(and last) time ever I made a lot of money on a car. My trade was $1000 more than I owed on the car(when does that ever happen after 10 months!), so I made out all around, we had a good christmas that year!

[Texasota]

 

I don't care about (a), or who gets the money. Besides, I paid Flood Ford's price. As for (b), that means 35% got their money's worth. Those are not bad odds when you're talking about what is essentially insurance. Think how many hundreds of thousands of dollars people spend on car insurance and home owners insurance over their lifetime that they never get back. Does Consumer Reports think we shouldn't pay for those either?

 

Dave

 

I'm not advocating one way or the other in regards to extended warranties. I have bought them long ago but none recently.

 

But I'm not sure home insurance or car insurance is a legitimate comparison. Car insurance (at least liability insurance) is required by state law and most car loan lenders would require collision and comprehensive. Home owners insurance is required by the mortgage lender. So, in most cases, the home owner or the owner of a financed car does not have a choice. They are required to purchase this insurance. In addition, auto and home owners insurance is insuring against theft, damage, catastrophic losses and liability claims. That seems very different than extended warranty coverage which is covering a portion (usually there is a deductible) of the cost of mechanical repairs.

 

CR concluded with this which seems like fair and reasonable advice:

 

 

Rather than invest in an extended warranty, we recommend buying the most reliable car that suits your needs, budget, and taste and taking good care of it. Sometimes, this can mean spending more upfront, but the reward is typically lower ownership costs and even better resale value. But, if you're heart is set on a model known to be unreliable, an extended warranty can provide some protection. Just approach with caution, negotiate the price, and be aware that if you roll the cost into your financing, you'll be paying interest on it for years to come.

Edited January 11, 2014 by Texasota