Endurance Extended Vehicle

[lowell holmes]

I'm curious, have any of you heard of these people.
I have a 2014 F150 pick up with about 150 thousand miles on it. Endurance Extended Vehicle Service Plans sent me letter offering one of their plans. My truck has NO issues that I know of. It gets about 17 miles per gallon or better. It uses no oil.

Why should I spend money for something I feel no need for? My truck is a V6 and gets 16-17 mpg. I have a good Ford dealer that has been here for at least 40 years and when the truck needs to be serviced, they do it. I am not going to pay for a policy.

[Jim Becker]

Extended service contracts that are not from and backed by the original vehicle manufacturer are almost always suspect. Nope...don't do that.

[Kev Williams]

Do this: Ask them the cost, and what it covers and deductibles. Tell them thanks but no thanks.
Then go online to your bank, create a savings account, and have your bank automatically transfer the same amount as their insurance would cost from your main account to your new "repair insurance" account.

That way, the only one who benefits from this "insurance" is you :) If the truck ever breaks down, you have budgeted for it. If not, you'll have a nice down payment saving up for the next truck...:D

[Jim Becker]

I will add that a large percentage of these third party "extended warranty"/"extended service contract" offers border on or are scams. They take your money and rarely will pay out on a repair. That's why I was very specific about "manufacturer offered and backed" in my previous reply. For many new vehicles today with a lot of tech, a manufacturer offered and backed extended service contract can be useful for someone intended to hold a vehicle long term because of repair costs on the tech, but that's a subjective decision. It's not for everybody. Some folks prefer to save like Kev mentions (although most of those folks never do) or have a dedicated credit card for "self insurance". Extended service contracts are, in fact, insurance. But again...third party...stay away.

[lowell holmes]

I never considered enrolling. I posted only to make creekers aware of the scam.

[Jim Koepke]

I never considered enrolling. I posted only to make creekers aware of the scam.

You are fortunate they sent you a letter instead of constantly calling you on your phone. They do not even have the decency to have a live person on the other end when they call.

My response is usually to hang up on them.

[roger wiegand]

All insurance schemes need to take in more money than they pay out, otherwise they go broke. Extended service warranties are way worse than most because they need to take in a lot of money in the face of the likelihood of many small payouts with a high probability of occurring. Insurance makes much more sense in the context of protecting against large, rare losses, like having your house burn down. Cars and trucks all eventually break, so just plan and budget for it without paying a large fee to an intermediary. Such companies are also (in)famous for not providing the promised coverage.

[Jerome Stanek]

They say you can take it anywhere but they don't say that where you take it to will except that type of payment. most want to be paid before you leave the shop.

[Ole Anderson]

Generally the only ones that come out ahead on extended warranties are the seller. Much like a slot machine. That being said my neighbor always buys late model used cars from a dealer and purchases the extended warranty. So far, every time he has come out ahead. And I recently ordered and purchased a 2020 Jeep Cherokee as the in-stock 2019's within 250 miles didn't have what i wanted. To my naive chagrin, once delivered there were zero incentives and the dealer wouldn't deal on a new vehicle. But he would deal on the extended warranty. He eventually came down from $2500 to $1200, showing just how much profit they have built in. The selling point was the cost of fixing technology gone bad. Just a new U-Connect radio/system is over $2000. Not much you can fix yourself and I have a garage full of tools.

[lowell holmes]

I keep a police whistle by the phone to deal with unwanted calls. Not often, but if one is really aggravating the might get an ear full.

[Jim Becker]

Ole, I hope that was the Mopar Maximum Care Extended Service Contract and not a third party contract... ;) (And mine paid off on my MY12 Grand Cherokee for sure)