Extended Warranties...are they really worth it?

[reg331]

I have a 2021 GV80 with 11,200 miles. I've had my GV80 for almost a year now and replaced the Driver's Mirror/Camera, Front Side Marker Light and the Navigation. So far, all covered by Genesis/Hyundai Warranty.

Genesis GV80 come with a 10 year/100,000 mile Drivetrain Warranty and 5 years/60,000 Bumper to Bumper excluding the Radio (first I have heard this).

Since the GV80 has so many electronics and technology I am concerned what else will break down. Spoke to the dealership yesterday and an Extended Warranty to 10 year/120,000 miles on the Drivetrain and 10 years/100,000 miles Bumper to Bumper including any Radio issues will cost $2,173. If you sell or trade your vehicle before the warranty expires you get a pro rated amount returned or transferred to the new vehicle.

I am leaning towards an Extended Warranty. What have others done?

 

[GarnetTy1473]

I have a 2021 GV80 with 11,200 miles. I've had my GV80 for almost a year now and replaced the Driver's Mirror/Camera, Front Side Marker Light and the Navigation. So far, all covered by Genesis/Hyundai Warranty.

Genesis GV80 come with a 10 year/100,000 mile Drivetrain Warranty and 5 years/60,000 Bumper to Bumper excluding the Radio (first I have heard this).

Since the GV80 has so many electronics and technology I am concerned what else will break down. Spoke to the dealership yesterday and an Extended Warranty to 10 year/120,000 miles on the Drivetrain and 10 years/100,000 miles Bumper to Bumper including any Radio issues will cost $2,173. If you sell or trade your vehicle before the warranty expires you get a pro rated amount returned or transferred to the new vehicle.

I am leaning towards an Extended Warranty. What have others done?

Might want to ask for a copy of the coverages. That price is pretty good, but is it a warranty through Genesis? Or an aftermarket company?

I have seen a lot of aftermarket warranties that might say they are bumper to bumper, but actually aren't. They exclude seat belts, and other SRS items, along with anything with the word "hose" in it. So an a/c line will be covered, but an a/c hose will not be. A/C hoses are what usually start leaking. There are so many companies out there, and they all have different opinions on what should and should not be covered.

Aftermarket warranties will put a used engine or transmission in 90% of the time, whereas an actually warranty from Genesis will replace everything with new or reman OEM parts from Genesis.

 

[reg331]

Might want to ask for a copy of the coverages. That price is pretty good, but is it a warranty through Genesis? Or an aftermarket company?

I have seen a lot of aftermarket warranties that might say they are bumper to bumper, but actually aren't. They exclude seat belts, and other SRS items, along with anything with the word "hose" in it. So an a/c line will be covered, but an a/c hose will not be. A/C hoses are what usually start leaking. There are so many companies out there, and they all have different opinions on what should and should not be covered.

Aftermarket warranties will put a used engine or transmission in 90% of the time, whereas an actually warranty from Genesis will replace everything with new or reman OEM parts from Genesis.

The Extended Warranty is with Progressive and sold by the Genesis Dealership.

 

[GarnetTy1473]

The Extended Warranty is with Progressive and sold by the Genesis Dealership.

I'd go over the fine print and make sure it covers everything you want it to.

 

[Mcc]

I'd go over the fine print and make sure it covers everything you want it to.

Right. It makes no difference who is selling it, it’s not a Genesis warranty. That is why you got a low price.

 

[reg331]

Right. It makes no difference who is selling it, it’s not a Genesis warranty. That is why you got a low price.

I would have to disagree. The Finance Mgr indicated this is what they offer to new car owners. When I purchased an Extended Warranty for my new Dodge Challenger, it was not a MOPAR Warranty but another Insurance company they work with.

 

[EdP]

I would have to disagree. The Finance Mgr indicated this is what they offer to new car owners. When I purchased an Extended Warranty for my new Dodge Challenger, it was not a MOPAR Warranty but another Insurance company they work with.

I thing you just agreed. It is third party, just like what you bought. The usually cost less than the brand name.

 

[GarnetTy1473]

I would have to disagree. The Finance Mgr indicated this is what they offer to new car owners. When I purchased an Extended Warranty for my new Dodge Challenger, it was not a MOPAR Warranty but another Insurance company they work with.

Right, but it's not through Genesis, nor Mopar. They do that because the aftermarket warranties are much cheaper than ones from the manufacturer. They can make more money on them. I don't know if Chrysler offers their own extended warranty. I know Genesis does, or at least they used to.

 

[reg331]

Right, but it's not through Genesis, nor Mopar. They do that because the aftermarket warranties are much cheaper than ones from the manufacturer. They can make more money on them. I don't know if Chrysler offers their own extended warranty. I know Genesis does, or at least they used to.

I will inquire again.

 

[koala]

The only extended warranty worthwhile in the US is Fidelity Platinum.

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[reg331]

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[LouLou]

You DO have a lot of negotiation with the extended warranty pricing. They have a “cost” that the dealership pays to the insurer, usually a 3rd party company, the rest is straight profit to the dealership. Mostly commission to the finance/insurance/warranty person at the end of the sales process. We were trained by a friend at a Mercedes dealership (and Google) how to negotiate the warranty and the terminology needed to look like you know what you’re talking about, even if you don’t! Use the phrase “your cost” of the warranties when negotiating, and low ball $ to start. The 1st price they throw out to you is about 2-4x the cost to dealership. And you don’t have to decide the day you buy the car, but they may pressure you with a “today only“ feel. We had the option to call back and add later. We asked. Plus, you can shop around for your own warranty, but they won’t tell you that unless you ask.
We offered a fair price for the extended warranty and wheel warranty combined, they want/should make a little something, and got exactly what we asked for, with a little more thrown in. They took our offer which was 1/3 of the price thrown out to us.
Hey, it’s a car dealership, they’ll try to make every penny any way they can!
Wordy, I know, hope it helps at least 1 person!

Here are 2 links to GREAT articles that helped us with this process:

Secrets of Negotiating a Car Extended Warranty | Edmunds.com

Oren Weintraub, president of Authority Auto, shows how to prepare for and negotiate for backend automotive products.

www.edmunds.com

Genesis Extended Warranty: Coverage, Exclusions, And Benefits

A parent company like Hyundai means there are high expectations for the Genesis extended warranty. See how a Genesis plan compares to third-party providers.

www.motor1.com

 

[SilverGV80]

No. Hardly anyone keeps cars long enough to make it worthwhile. This one has such a lengthy warranty for bumper-to-bumper and powertrain, I don't see the value. In three times I've opted to buy them before my factor warranty expires, it's never worked out in my favor, badly.

 

[Andyj]

I made money on the Carmax extended warranty for our 2006 BMW 330I Sport bought in 2009. Cool car loved it but the various repairs under warranty way exceeded the premium cost. But this a first year BMW E90 so thank God I bought the warranty. When I traded the 330i for the 2015 CPO Hyundai Genesis I decided to not buy the extended warranty since the CPO 10/100 drive train warranty applied. its a crap shoot, not much different than any other insurance.

 

[Spencer Dillman]

I have a 2021 GV80 with 11,200 miles. I've had my GV80 for almost a year now and replaced the Driver's Mirror/Camera, Front Side Marker Light and the Navigation. So far, all covered by Genesis/Hyundai Warranty.

Genesis GV80 come with a 10 year/100,000 mile Drivetrain Warranty and 5 years/60,000 Bumper to Bumper excluding the Radio (first I have heard this).

Since the GV80 has so many electronics and technology I am concerned what else will break down. Spoke to the dealership yesterday and an Extended Warranty to 10 year/120,000 miles on the Drivetrain and 10 years/100,000 miles Bumper to Bumper including any Radio issues will cost $2,173. If you sell or trade your vehicle before the warranty expires you get a pro rated amount returned or transferred to the new vehicle.

I am leaning towards an Extended Warranty. What have others done?

Please share contact for this extended warranty. I’m definitely interested!! Tks 561-706-6335

 

[Spencer Dillman]

Might want to ask for a copy of the coverages. That price is pretty good, but is it a warranty through Genesis? Or an aftermarket company?

I have seen a lot of aftermarket warranties that might say they are bumper to bumper, but actually aren't. They exclude seat belts, and other SRS items, along with anything with the word "hose" in it. So an a/c line will be covered, but an a/c hose will not be. A/C hoses are what usually start leaking. There are so many companies out there, and they all have different opinions on what should and should not be covered.

Aftermarket warranties will put a used engine or transmission in 90% of the time, whereas an actually warranty from Genesis will replace everything with new or reman OEM parts from Genesis.

Need the contact info please for your extended warranty price your quoted. Sounds like a good price. One repair could justify. Tks. My cell 561-706-6335 GV80 owner. Much Tks!!!

 

[Mcc]

Need the contact info please for your extended warranty price your quoted. Sounds like a good price. One repair could justify. Tks. My cell 561-706-6335 GV80 owner. Much Tks!!!

Let us know how negotiations work out for you if you ever get the price info. For the genuine Genesis warranty I didn’t find there was any negotiation room at all. But this was at 50,000 miles not when we purchased it new. I definitely think the warranty is worthwhile though.

 

[GarnetTy1473]

Need the contact info please for your extended warranty price your quoted. Sounds like a good price. One repair could justify. Tks. My cell 561-706-6335 GV80 owner. Much Tks!!!

I never quoted any prices. I don't know what we sell the extended warranties for. Our finance dept does that. Either way, we cannot sell a warranty to a car that we don't inspect first.

 

[2022-GV80]

The only extended warranty worthwhile in the US is Fidelity Platinum.

+1 this - I have the Fidelity Platinum and am very pleased. Pricing was fantastic too. I grabbed a 10 year/100,000 Mile plan - purchased entirely online too

 

[2022-GV80]

Please share contact for this extended warranty. I’m definitely interested!! Tks 561-706-6335

I used this online seller for the Platinum 10 Year/100k Miles, $100 Ded for $1,940 - the dealership has great reviews online and is a high volume seller for Fidelity Platinum plans.

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If you have 10,000 miles or less, direct link is here: Genesis | Purchase Fidelity Extended Warranty Service Contracts Online | FactoryProtect.com

Looks they also sell Tire/Wheel plans - I didn’t go for this, but might in the future: Genesis | Purchase Fidelity Road Hazard Tire & Wheel Protection Plans Online | FactoryProtect.com