ESP Warranty Refund Problems

[RenoF250]

When I bought my truck I made the mistake of buying the Ford ESP warranty for 5 years or 100,000 miles. The only reason I bought it was they said if I did not use it I could get my full purchase price back. Well now I am at 102k and I have not used it but when I call in the message says it has to be withing 30 days or 1,000 miles of expiration. Weasels, they are trying to get out of paying. I would hope that is not legal. Luckily my contract says nothing about 1,000 miles so I do not think they can use that on me. I am very frustrated that the dealer did not explain the 30 day timeframe and that they even deal with a company that tries to weasel out like that. Hopefully I will still get my money out of them but the moral of the story is, if you bought the warranty be sure to read the contracts carefully and do not let them keep YOUR money. By the way, the refund is done through Signet Financial on my contract not Ford so this is not really a Ford problem but if Signet tries to not pay I will be contacting Ford and talking to them about their warranties being sold with fraudulant refund agreements. I really don't think they would like that since they also sell refund agreements and any distrust surrounding their warranties would hurt sales.

 

[Max Power]

Good luck. Be sure to let us know how it turns out.

 

[dmftoy1]

I'm not sure if I'm following . . . . .they sold you an extended warranty, and if you didn't make any claims against the extended warranty then they would fully refund your money? That sounds like a hell of a deal. I had an extended warranty on my Cobra and when I sold the car they gave me back a pro-rated portion of the warranty (for the miles/time I didn't use). Your deal sounds alot better.

Have a good one,
Dave

 

[Max Power]

Yes that is the deal. It is becoming more common. It is designed to help sell the warranty. The down side is that if you use it even once, you lose your refund. They are counting on it being needed for something small or you forgetting about it. I bet very few people actually ever get they money back.

 

[RenoF250]

Yeah what Max said. It is actually a seperate insurance that pays if you do not use it. I got ahold of someone just before 5:00 and it sounds like it should be okay. She said she would be shipping me an application and that the 1,000 miles did not apply to me because it was not part of my contract. She also said the 30 days did not apply since it had not expired due to time so for now it appears I am in good shape. We will see how long it takes them to pay. Definately something to keep in mind for anyone looking at getting the warranty though, very easy to loose the refund. I sure hope this goes well, I need to get gauges, a chip, and exhaust.

 

[dmftoy1]

Wow, that's a hell of a deal. I should've done that for my X. I would only use it for a tranny or engine, so it would work out good fo rme.


Have a good one,
Dave

 

[JohnBoyToo]

Oops - on edit - didn't realize I was responding to a 2 yr old thread Dooh !

I got a refund of about $900 when I traded my 03 Ex in on the 05.... it was a pro-rated portion too...

long story longer though - it was the original warranty on my 02 that ford bought back cuz of the troubles and transferred to the 03 they gave me ... so made out ok on that one

funny thing is though, I'm SURE I used it on the 02 and pretty sure I used (at least the rental car portion) on the 03 ..

Am now shopping around for an extended warranty on the 05...
not that I THINK I'll need it, but piece o' mind and a few thousand are worth it to me....

 

[Maxtor]

When we purchased our 97 explorer we purchased the 5 year extended warrentee, and if we did not use it in the 5 yr period, we would get our money back. Well we did not use it, so when the 5 years was up, we got our money back. No problems. It was from Corning Ford. The extended warrentee was from another company, but it went through Corning Ford. Like what was said before, if we would have used the warrentee for anything.. a dome light bulb, etc. the money back gaurentee would have been voided. We got back $1,500 the full cost of the warrentee. It is a win win situation, because the insurance company gets to use your money and makes money on the interest, and if you do have a major breakdown, you are covered.