Yes to Extended Warranty or Not?

[Spanky61]

Most aftermarket warrantees are simply scams and ripoffs. I would consider a Hyundai warranty if they offered it to you.

 

[DWIL80]

I believe that Maxcare is actually administered through CNA, which is a national insurance company. That said I would double check on that as it’s been 3 years since I looked into it. If it is CNA then I’d say it’s a safe bet overall, especially since it would cover the electronics. A nav unit replacement alone is a few grand.

 

[Huey P. Freeman]

I believe that Maxcare is actually administered through CNA, which is a national insurance company. That said I would double check on that as it’s been 3 years since I looked into it. If it is CNA then I’d say it’s a safe bet overall, especially since it would cover the electronics. A nav unit replacement alone is a

There are 3 administrators. CNA, CPA and Fidelity.

 

[surprisinguy]

I bought the 5 year warranty from Carmax when I purchased my car. It was discounted because my son-in-law worked there (also got a 1000 off the car too), paid $750. It's already paid for itself when they had to repaint my trunk lid (long story about that) and also replace the reverse light fixture on the trunk that was leaking and filling up with water.

 

[BlancaGenny]

If it covers electronics, get it. It would have potentially saved me $5k if Hyundai decided not to pay for two head unit replacements. Large safety net that could save you $$$ down the road.

Read the fine print.

 

[Nikhil Malhotra]

I am planning to buy a CPO Hyundai genesis 2015 model . The Hyundai dealership was quoting somewhere around $4000 for the 10 year comprehensive warranty . That as per the dealer covers even the electrical . The Engine / Transmission is already covered in the 10 year CPO warranty. Is it worth paying $4000 for the comprehensive warranty , and can i negotiate ?

 

[PMCErnie]

I am planning to buy a CPO Hyundai genesis 2015 model . The Hyundai dealership was quoting somewhere around $4000 for the 10 year comprehensive warranty . That as per the dealer covers even the electrical . The Engine / Transmission is already covered in the 10 year CPO warranty. Is it worth paying $4000 for the comprehensive warranty , and can i negotiate ?

Yes, you can negotiate. Also, do you really need 10 year coverage? There are shorter coverage plans available.

 

[Jamesalanb]

For those of us not buying certified...
I've done a lot of looking at warranty companies and talked to several for sample contracts.
I own a 16 3.8 AWD Ultimate, 22,800 miles
I have chosen Easy Care Total Care coverage that provides 72 mos from contract, 120,000 on the clock
$2079 + tax totaling $2203.74 - $100 deductible
they appear to cover all of the delicate electronic and sensory equipment we worry about. They also use terminology of "failure" along with breakdown. That means if a covered component is performing other than designed - it is covered.
My local Hyundai dealer reps Easy Care so I know their service department accepts it. I originally contacted EC directly and they quoted $3541 - discounts, black Fiday coupon etc. to $2845 +tax. Get outta here!
I had EC on my last car and they paid out claims without issue at 2 independent shops and 1 at my local Ford dealer. Each shop commented on them being easy enough to work with. Parts replaced were Motorcraft or Ford OE.
Contract includes rental reimbursement and wheel/tire coverage for qualifying repairs (you can't tag a curb and expect coverage).
I've uploaded a copy of terms, exclusions, etc
Hope this helps!

 

[Nikhil Malhotra]

Any experiences of buying car from Carvana ?
https://www.carvana.com/cars/hyunda...lbHMiOiJlbCJ9LCJzb3J0QnkiOiJMb3dlc3RQcmljZSJ9

They give a 7 day risk free trial of the car.
Their extended coverage PDF covers all Electricals etc. and includes RoadSide Assistance . There is a $50 deductable for covered parts.

 

[dingyibvs]

My thought on extended warranty is that you can consider getting it from Hyundai or whoever is selling the car, because they might take a loss to sell you the car or to retain brand loyalty.

I wouldn't get it from a 3rd party, however. 3rd party warranty sellers MAKE A PROFIT!!! Guaranteed. Else they wouldn't be in this business. This means that on average, you'll be paying more for the warranty than it'll pay you. How else can they make a profit?

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[PMCErnie]

My thought on extended warranty is that you can consider getting it from Hyundai or whoever is selling the car, because they might take a loss to sell you the car or to retain brand loyalty.

I wouldn't get it from a 3rd party, however. 3rd party warranty sellers MAKE A PROFIT!!! Guaranteed. Else they wouldn't be in this business. This means that on average, you'll be paying more for the warranty than it'll pay you. How else can they make a profit?

Every seller of an extended warranty is making money, including Hyundai.

 

[Mcc]

Every seller of an extended warranty is making money, including Hyundai.

Of course that is not a reason not to buy one. The whole purpose of selling anything commercially is to make a profit. If not the business is not sustainable. Insurance like warranties are based on statistically taking in more than they pay out but that applies to the population as a whole and not to any individual. For an individual it all depends on how much risk you are willing to accept.

 

[surprisinguy]

Already got my money out of the warranty I purchased - it's all gravy after that

 

[Markymark]

If I had to do it over, I would not have gotten an extended warranty. I would have set the money aside and self-insured. Warranty companies (I'm looking at you Ford) are thieving bastards.

 

[frunobulax]

I always purchase extended manufacturer's warranty 100k,10y/0 ded. Here are my results:

2006 Honda Odyssey - no claims, total loss. warranty was $1500ish
2010 Infiniti G37, - 2 claims, $5000 (steering rack replacement, rear subframe replacement), warranty cost $1500ish
2012 Subaru Legacy CPO, 1 claim $300, warrant cost $1500ish
2018 Subaru outback, no claims yet. warranty cost $1600
2018 Subaru Crosstrek CPO, no claims yet, warranty $1600
2020 Subaru Accent, no claims, warranty cost $1700.
2020 3.3 G70, warranty cost $1900.

The only time I did not purchase a manufacturers warranty was a 1990 VW Corrado. The third-party warranty sold by the dealer was a major hassle, and then the warranty company went bankrupt. Total loss. It would have been useful for this car because the brakes totally failed at about 60k, and repair cost was over $3K (VW lost me on this, they were horrific, they could not figure out the problem and only solution was to complete replace the entire brake system). I declined and dumped the car for almost nothing, so loss was even greater.

Overall, I might be better off with no extended warranties, but 3 of the cars are for children striking out on their own, so they will not have to worry about unexpected repair expenses.

Also, extended warranties have huge markup. Subaru warranties were relatively easy to discount, because some dealers were selling warranties steeply discounted via email/phone. My local dealers were willing to match the online price, as soon as I mentioned buying it elsewhere. Some states do not allow this. I have heard that Subaru is cracking down on the practice.

I do not know if Genesis dealers are willing to bargain only on the warranty, but it may be worth a try.

 

[Markymark]

I always purchase extended manufacturer's warranty 100k,10y/0 ded. Here are my results:

2006 Honda Odyssey - no claims, total loss. warranty was $1500ish
2010 Infiniti G37, - 2 claims, $5000 (steering rack replacement, rear subframe replacement), warranty cost $1500ish
2012 Subaru Legacy CPO, 1 claim $300, warrant cost $1500ish
2018 Subaru outback, no claims yet. warranty cost $1600
2018 Subaru Crosstrek CPO, no claims yet, warranty $1600
2020 Subaru Accent, no claims, warranty cost $1700.
2020 3.3 G70, warranty cost $1900.

The only time I did not purchase a manufacturers warranty was a 1990 VW Corrado. The third-party warranty sold by the dealer was a major hassle, and then the warranty company went bankrupt. Total loss. It would have been useful for this car because the brakes totally failed at about 60k, and repair cost was over $3K (VW lost me on this, they were horrific, they could not figure out the problem and only solution was to complete replace the entire brake system). I declined and dumped the car for almost nothing, so loss was even greater.

Overall, I might be better off with no extended warranties, but 3 of the cars are for children striking out on their own, so they will not have to worry about unexpected repair expenses.

Also, extended warranties have huge markup. Subaru warranties were relatively easy to discount, because some dealers were selling warranties steeply discounted via email/phone. My local dealers were willing to match the online price, as soon as I mentioned buying it elsewhere. Some states do not allow this. I have heard that Subaru is cracking down on the practice.

I do not know if Genesis dealers are willing to bargain only on the warranty, but it may be worth a try.

Corrado! You're a brave soul. (and I say this as a former owner of a 1978 Rabbit, a 1988 Fox, a 1999 A4 and a 2004 Passat wagon). The Corrado was and is one fine looking ride though.

 

[Andyj]

I saved major $ on the carmax warranty for a 2006 BMW 330i. But that was an exception. Going to self fund the 2015 G2 3.8 Ultimate and keep my fingers crossed.

 

[Richard Mississauga]

I bought my used 2017 about a month ago, from a Hyundai dealer. I also bought the extended 5 year/100K km full warrantee with $100 deductible. This brings the total to 10 years, 200K km, whichever comes first.

All coverage is as is in the original premium plus Genesis warrantee. And yes, they negotiated on the price on the warrantee as well as on the car.

YMMV however.

 

[PMCErnie]

Since I pass my cars on to young family members who can’t afford expensive repairs, an extended warranty works especially well for me. This year, or next, my ‘12 Genesis will be passed on to my grandson, or granddaughter, with under 60,000 miles and warranty coverage till 2024. By the way, the warranty has almost paid for itself. It already bought me a new sunshade motor and two other repairs.

 

[Bud71]

I bought a 2015 in 2017 with a CPO warranty that passed thru. It has 50k on it now. At about 3.5 years it had the front LKAS camera replace which I believe was about $1600.

I would not own a Genesis without the extended as there is too much in the way of electronics now. I've already had two door window motors replaced and the sunroof tracks.