Experiences on long-term repair costs?

[Jimmmmbo!]

My lease will be up in July of next year, and I'm debating on what I want to do with the car.

I'm curious what other people's experiences are on costs of major repairs of the Genesis compared to, say, a Toyota Camry (not an Avalon). Is it like owning a Lexus or BMW where Hyundai will charge extra for parts just because it's a more expensive car and major parts (like transmissions and ABS modules ) have to be shipped from overseas and such?

I'm considering downsizing, but at the same time, with only 17K on the car in a little over 2 years and fairly easy driving I would expect the car to have a reasonable life for some time to come.

Thoughts?

2012 Base 3.8

 

[Mark_888]

Not sure I understand because the new car warranty is 5 years - 60,000 miles and the powertrain (engine/transmission) warranty is 10 years - 100,000 miles (whichever comes first). The audio systems warranty is only 3 years - 36,000 miles, but the Base Trim audio system appears to be very reliable, and not have any of the problems reported for the Tech Package systems.

I cannot imagine why you would not keep the car at least until warranty runs out, unless there is something about the car you really don't like, or you have the strong desire to have a new model.

 

[Crusty Old Shellback]

I remember seeing an article on the '09 Genney when it first came out. Not sure which mag, maybe MT. But they said hey, it has a 100K mile warranty, let's see how it does. So they put 100K on it in just over a year.

Even with a few bent rims, 2 new windshields, tires, brakes, etc, it was still cheapier to run it for 100K than it was to do one brake job and a set of tires on a comparable MB.

Just some food for thought.

 

[EXBMWGUY]

Not sure I understand because the new car warranty is 5 years - 60,000 miles and the powertrain (engine/transmission) warranty is 10 years - 100,000 miles (whichever comes first). The audio systems warranty is only 3 years - 36,000 miles, but the Base Trim audio system appears to be very reliable, and not have any of the problems reported for the Tech Package systems.

I cannot imagine why you would not keep the car at least until warranty runs out, unless there is something about the car you really don't like, or you have the strong desire to have a new model.

^ Agreed.

 

[GenesisCaptain]

I do not have any personal maintenance and repair experience yet. But, my observations so far of quotes for big ticket work is that cost of parts is on par with the European luxury brands (roughly same prices for major ABS, audio, navigation, suspension, wheels, windshield, LWDS, Active Cruise, etc. parts). Labor costs are slightly lower than the Euro cars, but not enough to matter. So, if something big broke, the cost would likely be about the same as a Euro luxury car.

The differences are going to be that routine naggy stuff is less likely to go on the Genesis versus an equivalent BMW, MB, or Audi. (This is my gut call, not first-hand data.) For example, my BMWs had routine power steering hose failures, window lifter failures, faster suspension wear, faster brake wear, radiator failures, miscellaneous emissions part failures, etc.

My hunch is that Toyota or Honda will be less likely to have the expensive features that can be expensive to repair, so it is apples-and-oranges. If you like the feature goodies, then the cost of ownership, no matter what you own will wash out. Coming from a base Genesis, you are probably not going to have the risk, since you do not have LWDS, active cruise, navigation, etc.

 

[homeofstone]

I have 106,000 miles on my 2011 and have had no repair cost. Just routine maintenance.

 

[BrazGenesis]

Looks like extended warranty may be a cheap solution for a total of 10Y 100K miles.
As you describe it seems the car is almost brand new.
Is the residual value attractive?

 

[Mark_888]

Looks like extended warranty may be a cheap solution for a total of 10Y 100K miles.
As you describe it seems the car is almost brand new.
Is the residual value attractive?

Even without an extended warranty, Jimmmmbo! will have more than two additional years of bumper-to-bumper warranty left after his lease is up in July 2014. Obviously, drivetrain warranty is even longer.

 

[BrazGenesis]

Mark,
Your point is perfect.
I like the idea of the extended warranty not only for the extended peace of mind but also because very likely the resale value of the car will probably be very good if sold after 5Y BUT with a warranty up to 10 years.

 

[Jimmmmbo!]

Lots of great points here. I appreciate the feedback.

I probably shouldn't have referenced the transmission since it is 10K/100K covered. I would have more concern for things like ABS modules, computers, unique suspension components, etc which would be of risk after the 5K/60K period is up.

My reasons for asking the question are my own, but leave it to say that I want to buy a vehicle outright when the lease is up, and I'm considering the idea of buying something more in the lower 10Ks rather than the upper 10Ks-to-lower 20Ks for the Genesis, depending on my haggling power to convince Hyundai to let me buy it for less than its residual value.

Also, the continued depreciation of the Genesis will be larger than that of, say a Camry or Accord, which is another input to my thinking.

I do realize the comparison is apples-to-oranges in terms of vehicle comparison. That is intentional.

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[Mark_888]

Lots of great points here. I appreciate the feedback.

I probably shouldn't have referenced the transmission since it is 10K/100K covered. I would have more concern for things like ABS modules, computers, unique suspension components, etc which would be of risk after the 5K/60K period is up.

My reasons for asking the question are my own, but leave it to say that I want to buy a vehicle outright when the lease is up, and I'm considering the idea of buying something more in the lower 10Ks rather than the upper 10Ks-to-lower 20Ks for the Genesis, depending on my haggling power to convince Hyundai to let me buy it for less than its residual value.

Also, the continued depreciation of the Genesis will be larger than that of, say a Camry or Accord, which is another input to my thinking.

I do realize the comparison is apples-to-oranges in terms of vehicle comparison. That is intentional.

Overall, the Base Trim Genesis is very reliable.

I would not be concerned about suspension since those parts usually don't wear out very fast unless you hit a pothole or something, but even if they do, they are not expensive. I know something about this since I upgraded all suspension components (springs, shocks/struts, rear stabilizer) on my 2009 to 2011 specs because it was way too stiff.

ABS module is an unknown right now, but your car is not that old and not many miles, so after the brake fluid upgrade there is probably not a high risk. If it were a high risk item, I would think that the National Highway Traffic Safety Administration would do something about it (force recall of ABS unit) since loss of brakes is unacceptable.

Computers are always iffy, but I don't recall any computer failures on this forum. Maybe there were one or two that I missed, but failure seems pretty rare (except those who drove into deep water). Just don't give anyone a jump and be careful when replacing a battery.

Residual value/depreciation is one thing I can't speak to. But if you keep the car for 5-7 years I don't think it matters as much.

If you had the Tech Package, my answers would be a lot different.

But bottom line is that you may be the type of person who likes new cars, even if they are less expensive than the Genesis. I just get that feeling. So up to you to decide.