Do I need an extended warranty?

[desinerd]

I just bought a new 2012 Genesis V6 with Premium and Tech packages. The dealer offered me extended warranty (Protective Costguard). I bought it at that time, but I can return it within 30 days for full refund. I paid about $1600 for 10y/100K.

I plan to keep the car for 4-5 years, basically up to 60K-70K miles. So, other than the navigation, everything else is covered by Hyundai warranty.

I bought it at that time for two reasons - for the navigation/audio unit and because the EW is transferrable to next owner and might give me better resale value.

Here's my questions:
what are the odds of nav/audio failing between 36K and 60K miles? and how much would it cost to replace?

Is $1600 a good price for this warranty and can I get a better price from somewhere else?

I checked on Consumer Reports for reliability data and found that Audio/Nav is the only item in 2012 Genesis with below average reliability.

Any help is appreciated.

 

[Crusty Old Shellback]

Read thru this thread here:

http://www.genesisowners.com/hyundai-genesis-forum/showthread.php?t=10502

I think you can find enough information in that thread to make an informed decission.

 

[desinerd]

That answers the question about price of insurance.

Now, I need help with whether or not I should purchase extended warranty.

Can I get some opinions from the fellow Genesis owners - Have you considered extended warranty? Why did / didn't you purchase it.

Thanks

 

[marty5marty]

I got 5 years warranty only and my reason was simple....not gonna keep it that long...probably gonna sell it and then get another genesis in 4-5 years. I told the dealer the same thing and he told me resale value would be better if i got 10 years but it didn't convince me much. To each their own.

If you're going to keep it for more than 5 years get the 10 years warranty. If you're planning to drive it for less than 5 years and are not as concerned on the resale value with the 5 year warranty then get the 5.

 

[ruggratt]

Well I bought an certified 09 Genesis V6 (sold new in October 08) tech package with 49,250 miles. So in my case I had about 6 years/50,750 left on powertrain and 1 year/10,750 miles left on bumper to bumper, and my electronics (nav, stereo) were already out of warranty (3 years 36,000 miles for electronics). I drive under 4,000 miles a year, so I'll never see the 100,000 miles, but the electronics being out of warranty concerned me so I bought Hyundai's Platinum Wrap warranty which does cover the navigation and stereo and also extends the bumper to bumper to 10 years/100,000 miles with a $50 deductible. So basically my whole car is covered for the next 6 years. I paid $1,400 for the warranty and the piece of mind was worth it to me.

Below is a list of what is NOT covered by the Platinum warranty:

Not Covered:
• Mechanical, Exterior, Interior
Brake linings, brake drums and rotors, disc brake pads, standard transmission clutch components, air bags, solar powered devices, hinges, glass, lenses, sealed beams, body parts and/or panels, trim, moldings, door handles, lock cylinders, tires, wheels, batteries, light bulbs, upholstery, paint, bright metal, freeze plugs, heater and radiator hoses, exhaust system, shock absorbers, audio, security or other systems not factory installed, work such as front-end alignment or wheel balancing, constant velocity joint boots, safety restraint systems, cellular phones, electronic transmitting devices (except for those specifically listed under silver, gold, or gold plus coverage), radar detectors, appliances, near object avoidance systems and all laser radar cruise control components, vinyl and convertible tops.

 

[swltf183]

I can never understand how the extended warranty is considered to cover the stereo when it specifically excludes audio. Isn't audio and stereo the same thing?

My second concern is the exclusion of appliances. What the heck is an appliance? Is it possible the navigation system is considerd an appliance?

But for these types of abiguities created by the exclusions, I'd buy an extended warranty.

 

[ruggratt]

The audio not covered mentioned in the exclusions is only non factory audio items, anything aftermarket such as subs or amps you might add yourself. I verified with my dealer when I purchased my warranty that the factory stereo/nav unit is covered.

 

[desinerd]

Thanks a lot for all your input.

From what I understand, there's two kind of warranties - one that have a list of included items, and another that has a list of excluded items (i.e. everything else is covered).

I am not sure which one I bought (the description on brochure differs from what the sales manager told me). I'll probably return it if it is the first kind.

PS: I am loving this forum. Will also look at the mods and probably try some.

 

[Crusty Old Shellback]

desinerd,
The post I linked was about an extended warrenty, not insurance, and the cost of such. But it also had some useful info in it if you would have taken the time to read ALL of the post.