Service Agreement purchased when I bought 2021 Ford Raptor not easy to cancel---only goes to lien holder when cancelled

[RaptorCDH]

Totally agree. I wasn’t paying attention and I usually don’t finance my vehicles —financing was a small tip to the dealer that sold me my raptor at msrp…cheers

 

[MDJAK]

The finance office of dealers hate me. i just turned 65. Yeah, got my Medicare card. I’ve been buying vehicles for myself and my loved ones since I’m 17. Since 2015 I’ve bought 7 Porsches, 3 Raptors with a Gen3 on the way, a Platinum, and untold numbers of Acuras, Hondas, Lexus, BMW, etc.

Never, ever, ever do I spend one penny in the finance office. Geico has MBI which is the best and cheapest extended warranty on the planet.

Maintenance? Indy shops. Every Porsche dealer is minimum $450 for a friggin oil change. Indy shop, $225.

Oh, did I mention wheel and tire insurance? Yeah, they tried selling it to me on all three of my Gen2 Raptors. Jesushchrist.

 

[WKUSMC]

Buyer beware or least be cautious. When I purchased my 2021 Raptor, I financed a small amount of the transaction ($20K)....at 1.55% it seemed like an easy decision and I could pay it off early without penalty...I also included a 4 yr service plan (oil changes etc) at a cost of $856....In SoCal our dealers can and will charge you $400-$600 for oil changes for luxury cars...in the past couple years the higher end luxury dealerships have realized they can all help each other by keeping high service prices....So that is why I purchased a service plan...on my other vehicles...it is the best way to cost manage and keep the dealers somewhat honest....With my 21 Ford Raptor, oil changes with full synthetic are only $78...so the plan doesn't offer any value and savings....the plan also lists service intervals of 7500 miles...which I personally believe is to long for a raptor with its 3.5 motor that has known cam phasers issues...So I perform oil services every 6 months or 4K miles ....In any case, the Fidelity plan doesn't permit this service interval so I requested a cancellation ....it is not easy to cancel ...you must send a letter along with request to cancel and provide your lien holder information ---only the lien holder may receive the refund check....not the end of the world but another paperwork process that I will need to monitor and follow-up on...I do not have much faith in customer service anymore.
This is a minor point but I thought forum members would appreciate the information...given the major delivery delays for ordered trucks and a fair number of quality control issues that some raptor owners are experiencing that need to be addressed...My issue is not a big deal...I am lucky to have a truck at this point.

Cheers

Always goes to the lien holder. The only way you would get it if the check is made out to you and the bank and the bank endorses to you. Rocket Science

 

[Mars911red]

Thank you all. That was a good heads up

 

[RamseyF]

from what I understand the only way it'll come to you is if you sell the truck and get the unused part prorated and refunded.

look on the bright side if it goes to the lien holder its less money you owe.

 

[goblues38]

.the plan also lists service intervals of 7500 miles...which I personally believe is to long for a raptor with its 3.5 motor that has known cam phasers issues...So I perform oil services every 6 months or 4K miles ...

Unlearn what you have learned. This is not 1990. 3 months or 3,000 mile oil changes were over kill then, and overkill now.

Save yourself time and money. 8,000 to 10,000 mile oil changes are completely safe and normal. Modern engines and modern oil are capable of even longer intervals.

I have almost 500,000 miles of experience with the 3.5 EB motors across 5 vehicles. This motor is stout as hell. The cam phaser issue is not oil dependent. And it is not as prevalent as the internet will have you believe.

 

[RamseyF]

I think the 7500 interval is fine but I'll do the 5k interval because I want the maintenance to fall on the 20k, 30k, 40k, 50k. etc. not to mention I want to get the tires rotated every 5k.

 

[Rick at FMS]

Similar situation happen with my wife's car but I actually came out ahead overall. Dealership wanted to sell me an extended warranty which I declined. They really pushed it and lowered the interest rate by 1% (perhaps they thought the payments mattered to me) to get me to purchase it, which I finally did. After 2 weeks and reviewing the contract, I went back to the dealership to cancel. That actually was a pain because they tried more tactics but I stuck to my guns and cancelled. The entire amount went back to the financing bank because they are the ones that financed it because it was all included in the purchase of the vehicle. The amount of the extended warranty was reimbursed in full and that entire amount went straight to principal of the loan. The loan interest rate never changed so overall I got a better deal in the end. Glad I never purchased it because the car didn't have an issue during the time the extended warranty would of lasted.