Extended Warranty

[aweetod]

I picked up my G70 3.3 Sport Siberian Ice yesterday and loving it already. This is my first "real" car purchase and I was looking for any feedback towards extended warranties. Dealer surprisingly didn't offer any genesis extended warranty, but did show me this 3rd party called the warranty group mechanical repair service contract. Looking at the reviews online they look terrible. I know my power train is covered for 10 years, I'm worried more for all the damn sensors on this car for literally everything. Anyone have any experience or suggestions. Thanks guys.

I have been on this forum literally everyday since I laid eyes in this car. You guys have helped me tons even though you don't realize. Keep up the good work guys. Thanks again. Happy to have join the family.

 

[EdP]

I picked up my G70 3.3 Sport Siberian Ice yesterday and loving it already. This is my first "real" car purchase and I was looking for any feedback towards extended warranties. Dealer surprisingly didn't offer any genesis extended warranty, but did show me this 3rd party called the warranty group mechanical repair service contract. Looking at the reviews online they look terrible. I know my power train is covered for 10 years, I'm worried more for all the damn sensors on this car for literally everything. Anyone have any experience or suggestions. Thanks guys.

I have been on this forum literally everyday since I laid eyes in this car. You guys have helped me tons even though you don't realize. Keep up the good work guys. Thanks again. Happy to have join the family.

How long will you keep the car? It has a pretty good basic warranty that covers most of us for a long time so think about that before you put out cash now for something you may never need.

Everyone is different. I'm on my fifth Hyundai/Genesis and every one was traded before the end of the warranty so it would be a waste for me. If though, you keep cars for 15 years it may pay. One thing to keep in mind, why do they sell warranties? Is it to give you peace of mind? No, it is to make a profit.

 

[Toddasaurus]

Congrats! I'm right there with you. Up until the G70 I have only driven older, used cars. The G70 was my first NEW car I've bought. I still am in love with mine, but I've only had it for a little over a month.

Anyway, I agree with @EdP - those extended warranties are primarily for making money. Genesis offers a pretty dang good warranty to begin with, and if something small, like a sensor, goes bad it really won't cost much to fix it.

Personally, I wouldn't buy any extra warranty on this car. But that's just me.

 

[Gone With The Wind 2]

Extended warranty is just insurance. Usually dont need it. But if you do, could pay for itself rather quickly. Especially with modern high tech vehicles where even a simple failure out of warranty can be super pricey.

If you do get it, I'd only go with the Hyundai warranty. Plus they've got some nice perks like trip interruption and rental coverage. 3rd party options can be risky.

 

[joschneider]

Extended warranty is just insurance. Usually dont need it. But if you do, could pay for itself rather quickly. Especially with modern high tech vehicles where even a simple failure out of warranty can be super pricey.

If you do get it, I'd only go with the Hyundai warranty. Plus they've got some nice perks like trip interruption and rental coverage. 3rd party options can be risky.

Hyundai??? Also the ‘modern high tech’ vehicles line is what the guy in the finance office uses and the same line they were using when I bought my first car in 2010. Warranties are there for them to make money, period. Yes you could be the exception that proves the rule, but I also don’t gamble here in Vegas because I don’t play against 99 to 1 odds with my own money.

 

[OMG70]

Hyundai??? Also the ‘modern high tech’ vehicles line is what the guy in the finance office uses and the same line they were using when I bought my first car in 2010. Warranties are there for them to make money, period. Yes you could be the exception that proves the rule, but I also don’t gamble here in Vegas because I don’t play against 99 to 1 odds with my own money.

So what you're saying is have someone else pay for it for you, right?

 

[Gone With The Wind 2]

Hyundai??? Also the ‘modern high tech’ vehicles line is what the guy in the finance office uses and the same line they were using when I bought my first car in 2010. Warranties are there for them to make money, period. Yes you could be the exception that proves the rule, but I also don’t gamble here in Vegas because I don’t play against 99 to 1 odds with my own money.

Until you've seen the work order for an expensive out of warranty repair, it's not something most will relate to. As I said, its insurance. Optional, but from my personal experience, I've never lost money on an extended warranty. At worse, I broke even. But I also know others who have never filed a single claim. It's up to the buyer and how much peace of mind is worth.

And yes, the manufacture warranty is provided by Hyundai. Thats what it says on the papers. You can call it Genesis if it makes you feel better.

 

[RTK]

I purchased an extended warranty for 7 years or 100,000 miles. Yeah, I know the powertrain warranty runs to 100,000 miles, but it’s not only good backup in case I’m denied by Genesis for powertrain work, but for bumper to bumper coverage as well (sensors, etc). I purchased from my credit union along with my loan for less than $1K (for a Mercury Insurance bumper to bumper policy), so it was worth it to me. Plus if I ever sell the car, it will transfer (once) to the new owner, so it will increase the car’s value.

 

[genesisguy123]

I didn't/don't plan on buying an extended warranty for my G70. Based on previous Hyundai/Kia reliability I feel confident that reliability should be pretty good, and I really only keep my cars for about 5-7 years with low milage and the base warranty is pretty good already. Now on my Boxster (summer car) which I lease, if I were to buy it outright, that'd be a car I would opt for an extended warranty for, god knows Porsche's have expensive maintenance outside of their warranties.

However, some insurances offer great deals on extended warranties, and if you can swing it, and find the piece of mind beneficial, go for it.

 

[RTK]

I didn't/don't plan on buying an extended warranty for my G70. Now on my Boxster (summer car) which I lease, if I were to buy it outright, that'd be a car I would opt for an extended warranty for, god knows Porsche's have expensive maintenance outside of their warranties.

Your rationale for the G70 is sound, as is your rationale for wanting an extended warranty for the Boxster (if you kept it.). This is part of the reason I parted ways with my BMW 328d. Replacement parts are hideously expensive and, if the high pressure fuel pump were to expire like it did for the first owner of my former 328d, that’s a $13K replacement and flushing of the fuel system.

I love great fuel mileage like the next guy, but now that my round trip commute went from 172 miles a day to 8 miles a day, the G70 is just fine. Especially with my first tank average of 21.2 mpg mixed driving.

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[OMG70]

Your rationale for the G70 is sound, as is your rationale for wanting an extended warranty for the Boxster (if you kept it.). This is part of the reason I parted ways with my BMW 328d. Replacement parts are hideously expensive and, if the high pressure fuel pump were to expire like it did for the first owner of my former 328d, that’s a $13K replacement and flushing of the fuel system.

I love great fuel mileage like the next guy, but now that my round trip commute went from 172 miles a day to 8 miles a day, the G70 is just fine. Especially with my first tank average of 21.2 mpg mixed driving.

172 miles a day?! Where the hell are you going in SoCal that you managed that? I'm doing 50 miles and already spend 2-3hrs driving a day. Can't imagine 3x that

 

[RTK]

172 miles a day?! Where the hell are you going in SoCal that you managed that? I'm doing 50 miles and already spend 2-3hrs driving a day. Can't imagine 3x that

LOL! I hear you! I used to drive front north Orange County to North San Diego County (Rancho Bernardo) for work. That took me 1.5 - 2.5 hours (one way) depending on traffic. The last 1.5 years, I split time between San Diego and Culver City. Culver City is a 43 mile commute one way, but with traffic, was a 1.5 - 2.5 hour (one way) commute depending on traffic.

 

[OMG70]

LOL! I hear you! I used to drive front north Orange County to North San Diego County (Rancho Bernardo) for work. That took me 1.5 - 2.5 hours (one way) depending on traffic. The last 1.5 years, I split time between San Diego and Culver City. Culver City is a 43 mile commute one way, but with traffic, was a 1.5 - 2.5 hour (one way) commute depending on traffic.

You must have a lot of patience...or speeding/reckless driving tickets

 

[Tetuan]

Depending on the insurance company backing the extended warranty, you may want to check it’s financial rating (in case the insurance company is out of business).

 

[RTK]

You must have a lot of patience...or speeding/reckless driving tickets

Let’s just say that I’m really good at binge listening to podcasts.

 

[RTK]

Depending on the insurance company backing the extended warranty, you may want to check it’s financial rating (in case the insurance company is out of business).

Great point! I might add that it’s good to make sure the extended warranty is transferrable. That will help with resale value if you decide to sell the car.

 

[Beefer]

Great point! I might add that it’s good to make sure the extended warranty is transferrable. That will help with resale value if you decide to sell the car.

Most 3rd party warranties are not transferable...but rather refundable (prorated).

I got a refund from last 3 I used...all different companies.

 

[Tetuan]

Also, some manufacturers/third parties allow the extended warranty to be bought/become effective right before the factory warranty expires. If the contract allows that, buying the coverage at a later date would give you more refund if you decide to cancel the policy later.

 

[EdP]

LOL! I hear you! I used to drive front north Orange County to North San Diego County (Rancho Bernardo) for work. That took me 1.5 - 2.5 hours (one way) depending on traffic. The last 1.5 years, I split time between San Diego and Culver City. Culver City is a 43 mile commute one way, but with traffic, was a 1.5 - 2.5 hour (one way) commute depending on traffic.

My commute from CT to MA was 24 miles. If I hit the lights right and traffic was moving, it was 32 minutes. If there was a lot of traffic and I hit red lights it could be as long as 34 minutes.

 

[OMG70]

My commute from CT to MA was 24 miles. If I hit the lights right and traffic was moving, it was 32 minutes. If there was a lot of traffic and I hit red lights it could be as long as 34 minutes.

LA/SoCal traffic is a different beast. I could only match those times if I left for work at 4am!