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Lincoln Extended Warranty - Worth It?


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25 replies to this topic

#1 OFFLINE   markl

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Posted 25 July 2017 - 08:28 PM

My 2016 MKX is already at nearly 23000 miles.  I've gotten a couple of mailers about the extended warranty programs - I didn't buy one when I bought the car.  Any experience with the program, good or bad?







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#2 ONLINE   akirby

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Posted 25 July 2017 - 09:34 PM

The ford ESP is the only one to buy if you want to buy one.

If you're asking whether they're worth it or not that depends on your goal. If you want to save money in the long run don't buy any extended warranties - the odds are on your side over a large number of vehicles. If you want to gamble or if you prefer to spend $1500+ now to avoid a possible larger bill later then go ahead. But the odds are never in your favor.

#3 OFFLINE   enigma-2

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Posted 26 July 2017 - 02:47 AM

It really comes down to how long you intend to keep the car.

I still have an extended Warranty on my 09 MKX and would do it again in a heartbeat. But I bought mine used and have used it extensively. For me it's not just for the "big" fault, but a whole lot of "little" repairs.

You would be surprised as to how expensive even simple problems are. I had a vacuum hose crack and trip the engine light. Turns out the garage had to pull the intake manifold to get to it. Part wasn't much, labor was a few hundred.

Last visit they found a defective tie rod end. Had to drop the subframe to change it. A hundred here, a hundred there, it starts to add up.

#4 OFFLINE   richy

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Posted 26 July 2017 - 11:26 PM

I always keep my cars between 6 and 7 years.  I sold my '11 Lincoln and I think still having 6 months on the warranty made it easier to sell.



#5 OFFLINE   markl

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Posted 30 July 2017 - 04:40 PM

I plan to keep this one another 5-6 years.  I got quotes from Lincoln the other night,  and to get the 150K warranty with $100 deductible is about $4K.  

 

I was in the dealership the next day for my last free oil change.  As I was sitting there, one of the service managers came up to the person on my left and told him that his rear view camera was shorted out.  Cost to repair: $750.  That got my attention.

 

Ten minutes later, the same service manager came up to the person on my right and told him that since he had the protection plan, there was no charge for his repair!

 

Right now, I'm leaning towards it.  I can't help but think I would have over $4K in repairs with as much as they charge for all the new components.



#6 OFFLINE   Ninja279

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Posted 30 July 2017 - 07:52 PM

Markl, are you saying the $4K is for two to three years or 50K miles?



#7 OFFLINE   markl

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Posted 31 July 2017 - 01:39 PM

$4K for up to 150K miles.  The factory warranty is supposed to cover to 50K

 

 

Markl, are you saying the $4K is for two to three years or 50K miles?



#8 ONLINE   akirby

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Posted 31 July 2017 - 02:17 PM

How many people here have spent more than $4K in repairs after 50K miles?

 

I'd say your chances of spending more than $4K in repairs is < 20%.  Remember it won't cover everything (e.g. vista roof is typically excluded).



#9 OFFLINE   enigma-2

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Posted 31 July 2017 - 04:36 PM

If your planning to keep your 2016 for only 6 years, consider a plan good only up to 6 years and 80k. Save a lot of money in thr long run. Also consider a $100 copay. May cut the cost by $800-900.

#10 OFFLINE   thisguy159

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Posted 31 July 2017 - 06:55 PM

I feel like everybody is talking about a different warranty plan.  So for clarification, what are the options and the costs?



#11 OFFLINE   JOEHIO

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Posted 01 August 2017 - 08:37 PM

I've had extended warranty's on 4 Lincolns.  My wife's first one was a '09 MKS.  She had so many issues with repairs, probably due to a front end accident she had.  Extended warranty covered our butts.  One time it was waterpump and trans brace (not caught with accident) would have been a $4,300 repair (something else too), cost us the $100 deductable.  Have it on her '15 MKS, gettting it on my '16 MKX, too.



#12 OFFLINE   sdonaghey

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Posted 12 September 2017 - 02:14 PM

I just bought a 2016 MKX that is a certified pre-owned car, so it comes with a 6yr/100000 mile extended warranty with a $100 deductible.  That was one of the reason we choose this car over others.  I had this on my 2013 Flex and used it a lot lately.



#13 OFFLINE   enigma-2

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Posted 12 September 2017 - 03:48 PM

Have an extended Warranty on my 09 (expires this month :-( )

Used it a lot. For example, I had a flat and called Lincoln from the car. They sent out a wrecker and he changed the tire, in the pouring rain at no cost, part of the warranty. Pour guy was soaked, but like he said, all part of the job. Glad I didn't have to do it (those tires are heavy).

The first time I used it, had a check engine light come on while driving to an inspection. Called Ford and took it in later that afternoon. They gave me a loaner at no cost and picked the car up the next day. Turned out it was only a broken vacuum hose. But because it was way down in tbe back of the engine, they had to pull the intake manifold and some other stuff and a simple little part ended up costing over $600. Covered of course, but you get the idea. All it takes is one problem and it can get real expensive, real fast.

Edited by enigma-2, 12 September 2017 - 03:54 PM.


#14 OFFLINE   Dumby

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Posted 13 September 2017 - 12:39 PM

Extended warranties are basically insurance.  Like all insurance policies, the insurer wins based on odds.  However, if you have a major problem and you haven't budgeted for it, then having the policy makes sense.  With the complexity of cars today, repairs can be expensive.  I put a scratch in the metal surrounding my Escape navigation screen.  It was obviously not covered by warranty but the part only came with the navigation unit for a cool $1200 not including labor. (The scratch is still there.) You will probably not have a major problem and would likely come out ahead not buying the warranty.  If you do decide to buy, stick with the Ford ESP only.  Dealers can set their own price above cost so there will be a lot of variation in price.  When I shopped, I found two or three Ford dealers willing to sell the ESP for a good bit less than the going rate, so, be sure to shop.  I tried to offer my local dealer a chance to match but they were only interested in offering a non-Ford ESP.  With the Ford ESP, it is registered with Ford , so no matter which Ford dealership you go to, it will show up in the system under your VIN.  I did a quick search on the above 2016 MKX with 23,000 miles.  Assuming a $100 deductible, an additional 3 years and 100,000 miles (7 year/150,000 miles) for a Premium Lincoln ESP would run around $2350 in Georgia.  Being able to buy a discounted genuine Ford ESP is one of the reasons I am considering the MKX.



#15 ONLINE   akirby

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Posted 13 September 2017 - 01:38 PM

 if you have a major problem and you haven't budgeted for it, then having the policy makes sense. 

 

My advice is if you can't afford to pay for an unexpected $4K repair (and by that I mean put it on a credit card or get a bank loan, etc.) then by all means get the extended warranty and finance it with the vehicle so you're only paying a few dollars per month.

 

However, some folks go out and pay $2300 out of pocket for a warranty as their bumper to bumper warranty is about to expire.   If you can afford to pay a $2300 lump sum for the warranty you can afford to pay for any repair out of pocket too.  And you would have $2300 in the bank to cover it from the get-go.  To me that's like going to Vegas and putting $2300 on the blackjack table.  There is a small chance you'll come out ahead but chances are you'll lost most of the $2300.



#16 OFFLINE   ChrisCrafted

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Posted 10 October 2017 - 03:16 AM

Our MKX has a unique Lincoln Motor protection plan.

Investment income residuals is another option in this topic not mentioned.

And I dare say the chances of breaking even on your specific protection plan is so in your favour with today's vehicles due to their uptrend complexities and ever accelerating repair costs. I would not purchase a vehicle without one. The $2300 lump sum scenario is assumptive at best. There are intrinsic values to a dealer protection plan for example cost avoidance of higher dealer costs during your plans stretch ,enhanced value at trade-in as mentioned above, refinancing your vehicle and improved vehicle value within a family succession.

#17 OFFLINE   ChrisCrafted

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Posted 10 October 2017 - 03:19 AM

Include "plan" to succession.

#18 ONLINE   akirby

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Posted 10 October 2017 - 08:25 AM

And I dare say the chances of breaking even on your specific protection plan is so in your favour with today's vehicles due to their uptrend complexities and ever accelerating repair costs.

 

If that was true Ford would stop selling them because they'd be losing money.  They're not stupid - they know exactly what type of failures occur and the frequency and that's what drives the price.

 

If you want it, buy it, but don't think the odds are in your favor.



#19 OFFLINE   enigma-2

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Posted 10 October 2017 - 04:34 PM

It a simple equation, if you feel that the odds favor Lincoln, put the money in special savings account and draw interest. If not, buy it.

I have over 100k on my MKX and just bought another extended warranty. A failed water pump will kill the engine (perhaps $8000), a failed PTU, (perhaps $3000).

My last extended warranty broke about even. It's wasn't any one big ticket item that did it, but a bunch of little things. My first claim was a broken vacuum line. Cost to them was $300-400 as it was on the back side of the engine and they had to pull the manifolds to change it. $20 part (guessing), all the rest was in labor. Had a flat in a downpour. Called Lincoln and they sent a tow truck. He changed my tire and I never got wet. He was soaked and dirty. No cost, covered under warranty.

There's a lot more than just repairs. Besides, with a warranty they look closer, knowing the you will be more willing to authorize repairs.

Remember also that they sell several different plans and that the most expensive may not be the best choice. You can save hundreds by going with a lessor plan. I just went with BaseCare. Saved hundreds over the ExtraCARE plan. Still got full powertrain, air conditioning, roadside assistance, first day rental, loaner when I ask and bunch of good stuff.

Another way to save hundreds.

Went on line and got three other quotes from Ford dealers. Printed them out, made an appointment with local dealer's business manager, went in listened to his spiel, got his quote, asked if he would match other Ford dealers and he matched my best price. Saved hundreds. Covered for three more years.

Any part can fail, not just the typical stuff. And everything is expensive nowadays.

Edited by enigma-2, 10 October 2017 - 04:37 PM.


#20 OFFLINE   Galaxy Dancer

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Posted 11 October 2017 - 09:41 PM

Enigma-2
I really like your advice to shop dealerships for best price. I thought dealer warranty pricing were all the same. Many $ Thanks.






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