4thTimer Posted July 6, 2022 Share Posted July 6, 2022 My plan was to trade my van in on the new truck and that was supposed to occur before the warranty ran out. Well, of course, that plan went out the window waiting for this truck. Anyway, now that I've rolled over 36k miles, I'm wondering if the ESP might be a good idea. But an ESP now would require buying years longer than I need. So, would the existence of an ESP be worth much on trade in? I notice when I value the van on KBB or Carmax, I'm not asked if there's an ESP so I'm assuming it doesn't count for anything. I wonder if it might be possible the buy the ESP on a monthly payment and just drop the payments when the van is sold? Quote Link to comment Share on other sites More sharing options...
akirby Posted July 6, 2022 Share Posted July 6, 2022 41 minutes ago, 4thTimer said: My plan was to trade my van in on the new truck and that was supposed to occur before the warranty ran out. Well, of course, that plan went out the window waiting for this truck. Anyway, now that I've rolled over 36k miles, I'm wondering if the ESP might be a good idea. But an ESP now would require buying years longer than I need. So, would the existence of an ESP be worth much on trade in? I notice when I value the van on KBB or Carmax, I'm not asked if there's an ESP so I'm assuming it doesn't count for anything. I wonder if it might be possible the buy the ESP on a monthly payment and just drop the payments when the van is sold? You still have the powertrain warranty. Seems like a waste of money to me. Keep it in your pocket and use it if you need a repair. Quote Link to comment Share on other sites More sharing options...
wowens79 Posted July 6, 2022 Share Posted July 6, 2022 ESP's aren't worth it if you are keeping it. Their business model, is about 13% of the cost of the ESP is used for repairs. The rest is marketing and profit. I know someone will post that it saved them thousands, but for everyone that did that there are 10 that got no benefit, or minimal benefit. Quote Link to comment Share on other sites More sharing options...
akirby Posted July 6, 2022 Share Posted July 6, 2022 2 hours ago, wowens79 said: ESP's aren't worth it if you are keeping it. Their business model, is about 13% of the cost of the ESP is used for repairs. The rest is marketing and profit. I know someone will post that it saved them thousands, but for everyone that did that there are 10 that got no benefit, or minimal benefit. Just like Vegas the house always wins in the long run. 1 Quote Link to comment Share on other sites More sharing options...
doyall Posted July 11, 2022 Share Posted July 11, 2022 Insurance (of any kind) is never worth it ... until it is needed. Having said that, I have recent experience with selling two vehicles of different brands on which I had the factory sponsored extended service contract. One vehicle the standard warranty had expired, the other vehicle still had the standard warranty in effect. Both vehicles were sold to auto dealerships, one an outright sale the other a trade-in. Neither dealership cared about dealing with the service plan. This may be because each service plan appeared to only be transferable to one subsequent purchaser. For the dealership to successfully accomplish such a re-transfer to their purchaser may have been more than they wanted to deal with, if it could even be done. Neither dealership ever stated why they didn't want to take the plan. It appeared to be of no value to them. I wound up getting pro-rata refunds on both of them as they had never been used. My take ... selling to an individual and transferring a plan may yield benefits, selling/trading to a dealership will not. And read the contract for transfer terms. 1 Quote Link to comment Share on other sites More sharing options...
IA Diver Posted July 11, 2022 Share Posted July 11, 2022 Why would the dealership care about the extended warranty? They will want to sell their own for the profit. Quote Link to comment Share on other sites More sharing options...
doyall Posted July 11, 2022 Share Posted July 11, 2022 25 minutes ago, IA Diver said: Why would the dealership care about the extended warranty? They will want to sell their own for the profit. Excellent point. Quote Link to comment Share on other sites More sharing options...
Monoman Posted July 11, 2022 Share Posted July 11, 2022 5 hours ago, IA Diver said: Why would the dealership care about the extended warranty? They will want to sell their own for the profit. The dealer will just use it as another reason to increase their selling price. Quote Link to comment Share on other sites More sharing options...
twintornados Posted July 13, 2022 Share Posted July 13, 2022 When I traded my 2011 Lincoln MKX is, there was still some time left on the ESP I bought when I got the car...they gave me a pro-rated refund on the ESP that I put toward the down payment of my next vehicle. Ask your sales person if they are still doing that. 2 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.