PremiumCARE Extended Service Plan

UserHCC

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I purchashed a new Ranger two weeks ago. The dealer tried to sell me the extended service plan: PremiumCARE: 5 or 6 years (or 75,000 miles) for $1870. Normally, I don't purchase extended warranties. But he said something that made me reconsider. If I don't use the warranty after the 5 or 6 year period, the price for the warranty is fully refundable. How can that be?

I asked him about it and he said it's really just a marketing tactic. After the 5 or 6 years, when the customer wants the refund from the warranty, the dealer uses that as a sales aid: they just apply the refund to the price of the next new vehicle (alternatively, they would just write a check).

It seems like you can't go wrong. My question: is this legitimate?
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Cape Cruiser

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I purchashed a new Ranger two weeks ago. The dealer tried to sell me the extended service plan: PremiumCARE: 5 or 6 years (or 75,000 miles) for $1870. Normally, I don't purchase extended warranties. But he said something that made me reconsider. If I don't use the warranty after the 5 or 6 year period, the price for the warranty is fully refundable. How can that be?

I asked him about it and he said it's really just a marketing tactic. After the 5 or 6 years, when the customer wants the refund from the warranty, the dealer uses that as a sales aid: they just apply the refund to the price of the next new vehicle (alternatively, they would just write a check).

It seems like you can't go wrong. My question: is this legitimate?
James,go online and look for Flood Ford. There price will be about half of your dealers amount. Good Luck,Bret
 
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UserHCC

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James,go online and look for Flood Ford. There price will be about half of your dealers amount. Good Luck,Bret
Thanks, Bret. Do they refund the full price of the warranty if you don't make any claims? That was the part I'm curious about. It seems to good to be true.
 

Stan McKinney

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You can get the plan for much less. I wait until my vehicles are almost out of warranty and then buy. My experience is that an unused warranty refund is prorated.
 
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UserHCC

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You can get the plan for much less. I wait until my vehicles are almost out of warranty and then buy. My experience is that an unused warranty refund is prorated.
I understand that you can get the warranty from Flood Ford for much less. Although, I just went to the dealership website and I could not figure out how to get a warranty on a vehicle that they did not sell.

What do you mean by "prorated"? What that be something like: if you sold the vehicle after only half of the warranty period had elapsed, then they would refund half of the warranty price?

This dealer is claiming to refund the full price of the warranty at the end of the warranty period.
If anyone else has experience with warranty refund, or has even heard if the idea before, let me know.
 
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Cape Cruiser

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I understand that you can get the warranty from Flood Ford for much less. Although, I just went to the dealership website and I could not figure out how to get a warranty on a vehicle that they did not sell.

What do you mean by "prorated"? What that be something like: if you sold the vehicle after only half of the warranty period had elapsed, then they would refund half of the warranty price?

This dealer is claiming to refund the full price of the warranty at the end of the warranty period.
If anyone else has experience with warranty refund, or has even heard if the idea before, let me know.
James I have never heard of full refund,just prorated. Lots of people here have the Flood Ford warranty. I myself dont have it as I took Floods price list to my dealer and they weren't happy but they honored the price. Bret
 

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I got raped!!! In my ignorance I never knew that you could negotiate extended warranties. Thanks to you guys I do now and will never experience that again. Sadly they got me for about $3200 for a 72/100,000 mile plan. And at the rate I am racking up miles that will be gone in five years. Next time I will wait until the factory warranty is about to expire since I found out after I signed that the warranty I bought doesn't add to the factory warranty. I I may be wrong, but I feel like I pretty much gave up the free factory one by doing this with the exception of a couple benefits - maybe..... Now, in my defense I have never bought an ESP before, but with all the tech in my truck I gave in this time. I hope more people read these forums before they get raped like I did out of my own ignorance.
 

JHC14

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I bought one yesterday from Flood Ford. Super easy and it was almost 50% cheaper than what I was quoted at a dealer.
I didn’t know you could add one after the fact either until spending some time in this forum.
Never heard the refund thing either, but hey you never know till you try.

Also, thought about waiting till the very end of my 36/36000 miles, but why? The only thing that could really happen is the prices go up.
If I don’t keep the truck that long, try the refund angle. I went ahead and pulled the trigger on 6/75,000 for $905.
 

jsphlynch

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I purchashed a new Ranger two weeks ago. The dealer tried to sell me the extended service plan: PremiumCARE: 5 or 6 years (or 75,000 miles) for $1870. Normally, I don't purchase extended warranties. But he said something that made me reconsider. If I don't use the warranty after the 5 or 6 year period, the price for the warranty is fully refundable. How can that be?

I asked him about it and he said it's really just a marketing tactic. After the 5 or 6 years, when the customer wants the refund from the warranty, the dealer uses that as a sales aid: they just apply the refund to the price of the next new vehicle (alternatively, they would just write a check).

It seems like you can't go wrong. My question: is this legitimate?
My speculation:
I'm guessing any little warranty claim will make you ineligible for the refund, so if you have a $100 repair done, you forgo your $1870 refund. Thus, you face a disincentive from ever actually utilizing the warranty. On top of that, I'm guessing you have to ask for the refund, and they're probably counting on a certain percentage of warranty-holders forgetting to make that request.
 

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I got a service plan when I bought mine. It covers everything except the tires and it's good up to 100,000 miles.
 

scssteve

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I bought one 7 or 8 years and 100,000 miles I think. It was about $1300. I would be surprised if you can get a full refund. I know I got a prorated one on one of my previous Jeeps. I imagine most of these warranty's directly from the Big 3 are pretty similar
 

thewhiteranger

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I got raped!!! In my ignorance I never knew that you could negotiate extended warranties. Thanks to you guys I do now and will never experience that again. Sadly they got me for about $3200 for a 72/100,000 mile plan. And at the rate I am racking up miles that will be gone in five years. Next time I will wait until the factory warranty is about to expire since I found out after I signed that the warranty I bought doesn't add to the factory warranty. I I may be wrong, but I feel like I pretty much gave up the free factory one by doing this with the exception of a couple benefits - maybe..... Now, in my defense I have never bought an ESP before, but with all the tech in my truck I gave in this time. I hope more people read these forums before they get raped like I did out of my own ignorance.
its happened to all of us --- dealers make money knowing many people wont question them or even read it .......
cancel it --- somewhere in the contract there is a cancelation number or go back to the dealer that sold it to you to do it, you wont get every dollar back but at the very least, you'd get a prorated refund which will probably be most of it or enough to buy better coverage. I to had no idea different dealers could sell the warranty if you didnt buy the car there but you can, its directly from ford (the ford one is what im speaking of) - my dealership quoted me more than double what I paid, I didnt bother giving them the chance to meet the price- they had the chance to sell it to me first. fwiw, I also went with flood
 

thewhiteranger

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I bought one 7 or 8 years and 100,000 miles I think. It was about $1300. I would be surprised if you can get a full refund. I know I got a prorated one on one of my previous Jeeps. I imagine most of these warranty's directly from the Big 3 are pretty similar

Ive purchased 3 from ford and when I trade in the car, I cancel it and get a pro rated refund usually about 1/2 by the time I do it so I get the piece of mind for a few hundred bucks. I generally keep cars about 5 years or so but as much as they cost now, Im hoping to keep the ranger a little longer as long as it keeps going
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