I have the 5 year care pack on the 4th Z3200ps we have. Got it to ensure parts and inks, plus printhead availability for sure. Correct, the first year of warranty is absorbed by the 5 year CP.
I believe it has to be purchased within a certain short time frame after buying the printer.
After that, the most you can buy is a three year CP.
I bought mine from HP directly - think it was around 2K. It was a lot, and even though I can take the printer apart down to the frame and put it back together working as new, I prefer to have a tech come when needed if I am busy on other projects.
Everyone has different approaches with these printers - before this last one, I always did the work myself, and I still do on the previous three. As EOL approaches, it’s just extra insurance for me.
Best,
Mark