Ford extended warranty or maintenance plan - is it worth it?

I recently bought an F-150 XLT and love it. The salesperson convinced me to add a maintenance plan or warranty coverage to my purchase. I can cancel it later if I choose, but for now, it’s adding about $80 to my monthly payment.

The plan covers 7 years, and the salesperson said it’s worth it because repairs like fixing the camera could cost up to $8,000 out of pocket. I understand this is different from my insurance (I’m with USAA), but I’m wondering if it’s smarter to keep paying for this or just handle repairs as they come.

For experienced Ford owners: Is it worth paying $80 a month for this kind of coverage? Or would I be better off canceling and saving that money for future repairs? Appreciate any insights you can share.

Did you buy an extended warranty, a maintenance plan, or GAP insurance? It’s important to know exactly what you’re paying for.

Eliot said:
Did you buy an extended warranty, a maintenance plan, or GAP insurance? It’s important to know exactly what you’re paying for.

Yeah, it’s pretty unclear from your description.

Eliot said:
Did you buy an extended warranty, a maintenance plan, or GAP insurance? It’s important to know exactly what you’re paying for.

It’s an extended warranty and loyalty protection for 84 months. The total cost is $7,494. After reading through the contract, I’m thinking about canceling it unless someone can give me a good reason to keep it. Feels like I got talked into it by the salesperson.

@stone
Warranties can be worth it, but $7,500 for 7 years is way overpriced. Check out Flood Ford or Zeigler Ford for better pricing on extended warranties. Unless you live in Florida, where state laws prevent online warranty purchases.

@Eliot
Quick update: I canceled the plan and went with Zeigler Ford instead. Thanks for the advice!

So it’s essentially a warranty?

$80 a month for how many months? If it’s for 5 years, that’s $4,800. I’ve owned two F-150s and never spent anywhere near that on repairs. My 2013 F-150 has only needed a battery, front brake pads, and regular oil changes—all wear-and-tear items that likely aren’t covered under a warranty.