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

[RaptorCDH]

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

 

[combatninja]

There is absolutely nothing wrong with a 7500 mile service interval. My 2020 Land Rover specs 18,000 miles or once a year. It is not 1965 anymore.

As far a the 'hassle', just let them change the oil at their intervals and you just do the in-betweens if you insist. Just know that you are throwing money away for no reason. I figure you're going to get 2 changes per year for 4 years so even at 'only' $78 per, the package still gives you $624 in 'value'. I would personally not waste my time trying to get $200 back.

 

[RaptorCDH]

There is absolutely nothing wrong with a 7500 mile service interval. My 2020 Land Rover specs 18,000 miles or once a year. It is not 1965 anymore.

As far a the 'hassle', just let them change the oil at their intervals and you just do the in-betweens if you insist. Just know that you are throwing money away for no reason. I figure you're going to get 2 changes per year for 4 years so even at 'only' $78 per, the package still gives you $624 in 'value'. I would personally not waste my time trying to get $200 back.

I personally disagree with going 7500 miles....First, the F150 3.5tt motor has a known issue with cam phasers...mechanics that I trust (these guys build 1000 hp Trophy trucks that win Baja races--and they personally own gen 2 raptors and follow a service interval of 4-5K---advised that I follow a 4-5k interval with full synthetic oil to mitigate this issue..motor tear-down / rebuilding is not am easy task and typically leads to other problems...So I want to avoid if possible. Second....todays turbo charged motors are known to burn quite a bit of oil...0W oils and blow-by can lead to burning as much as 1 quart every 1500 miles(they are examples where owners have experienced even greater oil loss per mile driven. I can monitor my oil consumption/loss and prevent engine damage from low oil levels.
Third, I have owned (leased) many range rovers---when I lease a vehicle, I dont really care about engine longevity...so I follow range rover guidelines....After 36 months..I return the vehicle and its' long-term mechanical issues are not my problem. For the Raptors, I have owned...I keep them--not lease--and have sold the previous 2 to personal friends. So I care about their long-term mechanical reliability.
On the Financial aspect of my decision to purchase a service contract...I was excited to get my truck and I didnt really read the service contract....my mistake. Sometimes the wife and I purhase items at Costco without due diligence...mainly because we trust COSTCO. If the item doesnt work---COSTCO takes care of it. We don't abuse the return policy at COSTCO--we are fair. This contract isn't of value to me so I am cancelling it. The point of my post is to inform forum members...some dealers that are trying to get ADM's have required ext warranties, service contracts, financing, etc...some have said they will purchase these warranties and simply cancel after the purchae is made...btw-my dealer did not require me to purchase.
I want to make sure owners realize that some of these contracts can only be cancelled and refunded to the lien holder. Cheers

 

[Luminarida]

This is the case with most extended warranties where the vehicle is financed. Sounds like normal paperwork to know the mileage, date of cancellation, and your acknowledgment in order to pro-rate your refund to your lienholder.

 

[Stan G]

There is absolutely nothing wrong with a 7500 mile service interval. My 2020 Land Rover specs 18,000 miles or once a year. It is not 1965 anymore.

As far a the 'hassle', just let them change the oil at their intervals and you just do the in-betweens if you insist. Just know that you are throwing money away for no reason. I figure you're going to get 2 changes per year for 4 years so even at 'only' $78 per, the package still gives you $624 in 'value'. I would personally not waste my time trying to get $200 back.

I agree wholeheartedly with this. Engineering has progressed since the "good old days" -- My RangeRover would go 15-16,000 miles before needing a service.

If you are changing it randomly ---Big oils got you in your pocket and just wants to keep it flowing.

 

[1roadking]

Standard protocol. did you get a Ford PPM plan? If so their plan covers oil changes, tire roatations, 20k major services, windshield wipers and brake pads. It’s a really good deal.

 

[RaptorCDH]

Standard protocol. did you get a Ford PPM plan? If so their plan covers oil changes, tire roatations, 20k major services, windshield wipers and brake pads. It’s a really good deal.

I definitely dropped the ball on this one ..it is standard protocol. I didn’t get the FORD PPM which is why I’m asking to cancel. The FORD PPM is a good deal …my FIDELITY plan not so much. Lesson learned. Cheers

 

[jimmyjamm]

This might be a weird informational point, if you buy add-ons, make sure you pay for them as the cash/down payment part, then finance the remaining portion of the vehicle only (which is what I always did). After that, any refund you receive doesn't just go to the lien holder, it pays down the principal saving you money in the long-haul by not continuing to pay interest on the portion of the loan that was the service contract---saving money isn't a bad thing, so you don't get $200 in your pocket, you save about $5 every year of the loan on interest alone (maybe less, depending on duration of loan and other fees, etc.). If you needed the $200 for oil changes, may not be such a good idea to buy $75k+ truck?

 

[RaptorCDH]

This might be a weird informational point, if you buy add-ons, make sure you pay for them as the cash/down payment part, then finance the remaining portion of the vehicle only (which is what I always did). After that, any refund you receive doesn't just go to the lien holder, it pays down the principal saving you money in the long-haul by not continuing to pay interest on the portion of the loan that was the service contract---saving money isn't a bad thing, so you don't get $200 in your pocket, you save about $5 every year of the loan on interest alone (maybe less, depending on duration of loan and other fees, etc.). If you needed the $200 for oil changes, may not be such a good idea to buy $75k+ truck?

Buying a service plan for us folks living in SoCal is a necessity—just about any service or product you can name has a surcharge and when the question is asked “How much ?” Quite often the answer is “How much do you have…”. Whether it be getting your dog spayed (one vet was about to charge us $3700), getting your oil changed (Land Rover mission viejo wanted $745 for our 2018 RR supercharged ) , repipe /replace cheap copper in a 900 sq ft Casita for $28k…the list is endless.
It’s not a matter of being able to Afford owning any of the items (dog , house, luxury car, trucks) it’s a matter of not being taken advantage of …the fool and his money are soon separated …
I am very fortunate to have my family’s health and financial well being not being at risk—we are all safe and happy.
I purchase service plans and now extended warranties living in SoCal because it places a cap on my exposure…when my car acts up…is it a simple battery voltage issue ? Or is it the ECU that needs replacing. Many dealerships here will replace ECU (big ticket item) when maybe a new battery and a battery tender would address the electrical issue…with a warranty—-I can relax.

 

[jimmyjamm]

I understand the pre-purchase of service plans and extended warranties, I have done that with both-extended warranty on my Raptor, and an extended service plan on my wife's Audi (the 50,000 mile service plan cost what a single visit to the dealer charged if paying cash at each visit). How you pay for it is the difference-don't place any accessories, plans, warranties, etc. into the financing, that's all.