Equus vs K900

[Stoneybroke]

Considering the purchase of a leftover or CPO equus or Kia K900 this fall. In the past, i've purchased several CPO luxury cars and I am currently drivng a 2014 Audi A6.(leased) I would like your opinion on the above comparison. Other than the 10 yr driveline coverage, is their any real advantage with the Hyundai/Kia CPO program? I don't have a local dealer for either car, but my Audi dealer is also 1.5 hours away. I did drive a new K900 VIP RWD v8-impressive car, (except for the silly Buick portholes) but first year depreciation is about 30K! Any and all input would be appreciated.

 

[Mark_888]

Considering the purchase of a leftover or CPO equus or Kia K900 this fall. In the past, i've purchased several CPO luxury cars and I am currently drivng a 2014 Audi A6.(leased) I would like your opinion on the above comparison. Other than the 10 yr driveline coverage, is their any real advantage with the Hyundai/Kia CPO program? I don't have a local dealer for either car, but my Audi dealer is also 1.5 hours away. I did drive a new K900 VIP RWD v8-impressive car, (except for the silly Buick portholes) but first year depreciation is about 30K! Any and all input would be appreciated.

A dealer has to pay Hyundai or Kia about $1000 for a CPO designation to extend the drivetrain warranty to 10 years / 100K miles on a pre-owned car. That is about all it is good for. They supposedly do an inspection on the car, but most buyers have said that doesn't really happen at most dealers (based on obvious problems owners found shortly after taking possession).

Another option is to skip the CPO and get the extended warranty that covers everything for 10 years / 100K miles. This might be advisable if you intend to keep the car longer than 5 years, but not sure it that applies to you.

 

[Stoneybroke]

My last CPO was a 2011 CTS. Basically, GM extended the warranty to 5 yrs or 100k. They are not as generous today, just 70K. Is the "extended warranty" a Hyundai product and can you purchase online from any dealer? In the past, I have purchased extended, bumper to bumper coverage on Toyota pickups from a Conn. dealer at a significant discount. I will only purchase factory backed warranties. I was a victim in the Warranty Gold fiasco to the tune of 2k.

 

[PMCErnie]

I think you are "cruisin' for a bruising" to buy any newish car when you live 1.5 hours from the closest dealer and their warranty service. I'd stick with your favorite domestic brand. Same problem with a Tesla. Oh, yeah, maybe they'll come to your house with a flatbed to pick that up.

 

[Mark_888]

My last CPO was a 2011 CTS. Basically, GM extended the warranty to 5 yrs or 100k. They are not as generous today, just 70K. Is the "extended warranty" a Hyundai product and can you purchase online from any dealer? In the past, I have purchased extended, bumper to bumper coverage on Toyota pickups from a Conn. dealer at a significant discount. I will only purchase factory backed warranties. I was a victim in the Warranty Gold fiasco to the tune of 2k.

There may be several extended warranties sold by Hyundai dealers. But I would only recommend the official HPP (Hyundai Protection Plan) Platinum warranty offered by Hyundai Motor America. You can purchase it at any dealer, and it is honored at any dealer, since Hyundai Motor America picks up the warranty reimbursement tab just like the normal manufacturer's warranty.

There are threads which mention the best places to get them online or phone at certain Hyundai dealers. A good price for a Genesis is about $1300, not sure about G90 (Equus). Expect your dealer to open with a ridiculous offer of $3K.

If the car is already CPO, you can get the Hyundai Protection Plan CPO Wrap that should be a little cheaper because the drivetrain is already covered.

 

[turnne]

Considering the purchase of a leftover or CPO equus or Kia K900 this fall. In the past, i've purchased several CPO luxury cars and I am currently drivng a 2014 Audi A6.(leased) I would like your opinion on the above comparison. Other than the 10 yr driveline coverage, is their any real advantage with the Hyundai/Kia CPO program? I don't have a local dealer for either car, but my Audi dealer is also 1.5 hours away. I did drive a new K900 VIP RWD v8-impressive car, (except for the silly Buick portholes) but first year depreciation is about 30K! Any and all input would be appreciated.

Either car has crazy depreciation..keep that in mind
But that can be your friend if you buy it right
There are dealers with unsold new 2014's on their lots of both of these cars
The sweet spot ..in depreciation...seems to be about 3 years( or a 36 mo lease return)
The car has lost enough value to make it relatively inexpensive and its new enough to meet a buyers expectations for a new car

The CPO program is worthless....in fact the Hyundai dealer I purchased from said they didnt even consider doing that unless the car was no more than than 2 years old and had less than 30K on it..otherwise the extra $1000 in cost just made the car priced out of the used car market
Find one that still has factory warranty
You can buy the Hyundai wrap for about $1800-2000 that will basically give you 10yr/100K bumper to bumper coverage
In fact mine is 10yr/120K bumper to bumper and I paid $2000 for the Hyundai backed program

Warren

 

[OneFunGenesis]

I have a K900 and can say that the customer service I receive over Hyundai is just leaps and bounds. That might be dealership specific but I did get a call from the K900 customer care line after having my car in for service to make sure the Dealership was doing everything they could to satisfy me...gotta say...that's a nice touch.

Other notables are that when I take it in for service I get a free Cadenza loaner and not an elantra and they treat you like Kings. Pretty much everyone over a k900 forums has mentioned the royal treatment. Check out my threads reviewing the K900 here:

http://genesisowners.com/hyundai-genesis-forum/showthread.php?t=17775

 

[turnne]

I have a K900 and can say that the customer service I receive over Hyundai is just leaps and bounds. That might be dealership specific but I did get a call from the K900 customer care line after having my car in for service to make sure the Dealership was doing everything they could to satisfy me...gotta say...that's a nice touch.

Other notables are that when I take it in for service I get a free Cadenza loaner and not an elantra and they treat you like Kings. Pretty much everyone over a k900 forums has mentioned the royal treatment. Check out my threads reviewing the K900 here:

http://genesisowners.com/hyundai-genesis-forum/showthread.php?t=17775

While I have not had mine in for service where I could not wait..yet

My understanding was that they give Equus owners a Genesis loaner car?

In any case..if your service has been stellar ...then I say you are far ahead of what I have seen occur with Equus owners, including me

On another note I see in your post that the 2015 K900 you leased(?) had a sticker of about $66,800
2015 Kia k900s with 15K miles are retailing at dealership for about 50% of that amount.....that is some very scary depreciation

As I said in my earlier posting...make sure you buy these cars "right"..preferably after a short term lease return, to try to minimize the huge hit on depreciation

Warren

 

[Stoneybroke]

I would never buy either car new. unless i could get a massive discount. Last month in Florida, I saw a 2015 K900, VIP package, CPO with 12K on sale for 38K. That is about 30K from new sticker in one year. I don't think the Equus is quite as bad. Actually, the K900 seems to be really scarce. I could not find one new or used within 150 miles of my home in North central PA.

 

[turnne]

People have gotten as much as $20K off the sticker...which is typically gotten after the year change...ie buying a 2015 right now
Actually one of my local Hyundai dealers has a new 2014 Equus remaining on their low...and just recently sold a remaining 2014 genesis V8 that was also remaining on their lot
I have seen similar deals to what you mentioned on a year old Kia K900..ie..50% off sticker after one year
Makes me wonder what those Kia's will be worth in 2 years..$20K?
scary!!...unless you buy it after the big "hit"

Warren

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[OneFunGenesis]

While I have not had mine in for service where I could not wait..yet

My understanding was that they give Equus owners a Genesis loaner car?

In any case..if your service has been stellar ...then I say you are far ahead of what I have seen occur with Equus owners, including me

On another note I see in your post that the 2015 K900 you leased(?) had a sticker of about $66,800
2015 Kia k900s with 15K miles are retailing at dealership for about 50% of that amount.....that is some very scary depreciation

As I said in my earlier posting...make sure you buy these cars "right"..preferably after a short term lease return, to try to minimize the huge hit on depreciation

Warren

I would never buy either car new. unless i could get a massive discount. Last month in Florida, I saw a 2015 K900, VIP package, CPO with 12K on sale for 38K. That is about 30K from new sticker in one year. I don't think the Equus is quite as bad. Actually, the K900 seems to be really scarce. I could not find one new or used within 150 miles of my home in North central PA.

People have gotten as much as $20K off the sticker...which is typically gotten after the year change...ie buying a 2015 right now
Actually one of my local Hyundai dealers has a new 2014 Equus remaining on their low...and just recently sold a remaining 2014 genesis V8 that was also remaining on their lot
I have seen similar deals to what you mentioned on a year old Kia K900..ie..50% off sticker after one year
Makes me wonder what those Kia's will be worth in 2 years..$20K?
scary!!...unless you buy it after the big "hit"

Warren

Hey guys,

So yea, the depreciation on these things is CRAZY. I got a short term lease for less than I was paying for the Genesis (about $390 a month). They also built about 3000 of the USA version K900 and have sold about 2500 of them. They are indeed hard to find.

As to the service, it is back in again for tire vibration (not surprised as they have crappy Hankook Optimo's on them). The service is second to none and I am very impressed with how much better Kia is in that regard than Hyundai. It makes little sense, honestly.

 

[Stoneybroke]

I found a 2015 k900, CPO, with VIP and low milrage in Conn for 35K. I have been trying to find a 2016 with awd, but no luck yet. Has anybody actually seen an awd K900?

 

[turnne]

I found a 2015 k900, CPO, with VIP and low milrage in Conn for 35K. I have been trying to find a 2016 with awd, but no luck yet. Has anybody actually seen an awd K900?

yikes, 50% depreciation in one year....
The K900 is definitely the car to buyer used

AWD is not an option on the current Kia K900
Hence one of the reasons why the k900 and current Equus are passed from consideration by many buyers

 

[Stoneybroke]

My Bad on the AWD question. I was mislead by a salesperson that told me the V6 K900 would be offered with such a system. In 2014, I compared the Equus to my Audi. The Equus was bigger, had a better ride, and was heavily discounted. The Audi had much better tech, is quicker, same price in the real world and has Quattro. If the Equus had an all wheel drive system, my decision would have been much harder.

 

[OneFunGenesis]

No AWD coming for the K900. I asked the same thing . Picked her up from service last night and the manager met with me. They are really doing everything they can to make this right and it is awesome!

 

[edward301]

Used is the only way to purchase, because new you get killed
on depreciation. I find lightly used is best for me.

The 2015 Ultimate I bought had 315 miles on it, the sticker was I
think $72k, paid $52k, still had clear plastic protection on many
of the interior surfaces.

My 2014 was a Signature with 900 miles paid $44k drove for 17 months
sold for $39,500.

My 2012 was a Signature with 200 miles paid $42k drove for 19 months
sold for $37k. This engine did not burn oil, but was made late in the
model year.

The 2011 I bought new paid $51k sold 18 months later for $36,500,
took a bigger hit because new.

About $4k a year loss on my side.

 

[turnne]

Used is the only way to purchase, because new you get killed
on depreciation. I find lightly used is best for me.

The 2015 Ultimate I bought had 315 miles on it, the sticker was I
think $72k, paid $52k, still had clear plastic protection on many
of the interior surfaces.

My 2014 was a Signature with 900 miles paid $44k drove for 17 months
sold for $39,500.

My 2012 was a Signature with 200 miles paid $42k drove for 19 months
sold for $37k. This engine did not burn oil, but was made late in the
model year.

The 2011 I bought new paid $51k sold 18 months later for $36,500,
took a bigger hit because new.

About $4k a year loss on my side.

you dont mention how many you had on the cars when you sold them

But based on what I have seen ( and personally paid for a used Equus) you got top dollar
Looking at other cars in the mid luxury segment with similar prices
There is no way you get $20K off the sticker of say a E class...5 series or Lexus GS that was originally priced in the $55-65K range
Nor is there any way that can buy any of those cars a year later with 15K miles( and certified) for about half their sticker...as you can the Kia K900

and frankly at half its sticker and certified the K900 sounds like and incredible deal and hopefully the resale loss gets slower( percentage wise) as the car ages

Warren

 

[Mark_888]

I think that the great deals on used K900 models is because there were a lot of them made as courtesy cars for various sporting events (like golf tournaments, etc).

I think Lebron first drove one that was provided by Kia as part of a Kia sponsorship of some NBA event or something (he then asked Kia if they would send him one for his permanent use, and they signed him to an endorsement deal).

 

[turnne]

I think that the great deals on used K900 models is because there were a lot of them made as courtesy cars for various sporting events (like golf tournaments, etc).

I think Lebron first drove one that was provided by Kia as part of a Kia sponsorship of some NBA event or something (he then asked Kia if they would send him one for his permanent use, and they signed him to an endorsement deal).

I doubt there was a significant amount available for courtesy cars vs the total amount available , for sale, to make a significant difference in resale

There were probably a lot more Hyundai genesis sedans available in rental fleets
That I can see impacting the resale of the Genesis sedan
As for some courtesy cars for a slowing selling model....extremely doubtful

As I have stated before...there is still a new 2014 Hyundai Equus at one of my local dealers and just a few months ago there was also a new 2014 Genesis available

Its very doubtful that you could go to any Mercedes or BMW dealer and find new cars that are 2 years old on their lot

Warren

 

[Mark_888]

I doubt there was a significant amount available for courtesy cars vs the total amount available , for sale, to make a significant difference in resale

You have doubted every single thing I have ever posted, even when you had no idea what you were talking about (tax implications of lease vs purchase).