Jump to content

Check out the Lincoln Aviator Community Here.





Sign in to follow this  
markl

Lincoln Extended Warranty - Worth It?

Recommended Posts

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?

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

$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?

Share this post


Link to post
Share on other sites

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).

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

 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.

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

Enigma-2

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

Share this post


Link to post
Share on other sites

I started by Googling "ford extended warranty". One of them (forget which) had a box to enter a code. You click "get code" and come by email. Enter it and they dropped 5% or 10% (forget which).

 

Business officer was impressed that I brought in several quotes to match. Asked for copies (let him keep my printouts). He's going to look into setting up an Internet website to offer extended warranties throught the dealership. Said they could match these on-dealers prices.

Share this post


Link to post
Share on other sites

Correct me if I'm wrong but the car warranty is 5 yrs 60k miles and the addon is 2yrs 24k miles.  That is how I remember when it was offered to me, the dealer got down to $1300 for it because I kept say no...still said no.  I do not think a warranty is worth it unless it 48-60 months past the manufactures warranty.  Car with 84k in miles is still a low mileage vehicle this being 2017 not 1993 or 83 or 73.

Share this post


Link to post
Share on other sites

Correct me if I'm wrong but the car warranty is 5 yrs 60k miles and the addon is 2yrs 24k miles.  That is how I remember when it was offered to me, the dealer got down to $1300 for it because I kept say no...still said no.  I do not think a warranty is worth it unless it 48-60 months past the manufactures warranty.  Car with 84k in miles is still a low mileage vehicle this being 2017 not 1993 or 83 or 73.

 

On the Ford ESPs it's based on the total time and mileage.  E.g. a 7 yr 100K mile ESP is really only a 2 yr 40K mile warranty on the powertrain since the factory warranty covers the first 5 yrs/60K miles.  You do get a longer warranty on non-powertrain components (additional 5 yrs/64K miles) but note the ESP is not bumper to bumper and doesn't cover everything.   IIRC the vista roof may not be covered.    The free rental car is nice.

 

Just make sure you know what you're buying and what is or isn't covered and for how long.  And don't forget the factory warranty.

Share this post


Link to post
Share on other sites

On the Ford ESPs it's based on the total time and mileage.  E.g. a 7 yr 100K mile ESP is really only a 2 yr 40K mile warranty on the powertrain since the factory warranty covers the first 5 yrs/60K miles.  You do get a longer warranty on non-powertrain components (additional 5 yrs/64K miles) but note the ESP is not bumper to bumper and doesn't cover everything.   IIRC the vista roof may not be covered.    The free rental car is nice.

 

Just make sure you know what you're buying and what is or isn't covered and for how long.  And don't forget the factory warranty.

Yep that sounds right it was 2 years I didn't like.

Share this post


Link to post
Share on other sites

I think some people forget about the factory warranty and just see the 7 yr/100K mile and think they're getting that much coverage which sounds like a much better deal.

 

And on a Lincoln it's only a 3 yr/50K mile warranty on the non-powertrain components since the Lincoln B2B is 4/50.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×