Extended Warranty or Not?

[Hstead]

I am trying to decide if I want the extended warranty or not? The dealer had a product that I cannot recall the name of, but he said they under wrote for Toyota and GM. It was $1725 for 4 years 100K and covered most everything except maintenance items and normal wear items like brake pads, hoses, wiper blades, etc.

I have also read on this site that I may be able to get a Hyundai warranty for maybe $1500 or so? Is that accurate still these days?

I believe I still have some warranty left since the car was originally purchased about 19 months ago and has 33K miles on it?

What are the prevailing thoughts? I am worried about all of the tech and electronics that it may be worth it.

 

[Mark_888]

I personally would opt for the Hyundai Extended Warranty, and not a third party one offered by your dealer. I don't think you will be able to get one for $1500, although that is a bit over dealer cost.

But if you asking for advice, it would help to be more specific with the exact model year, model, and trim level you own, and whether it you purchased it new or used. Also supply the date you purchased it (and original date of service if you purchased it used). If you purchased it used, then was it a CPO (certified pre-owned)?

If you don't know some of the dates or whether it is CPO, you can give your VIN to a dealer and they will tell you.

 

[Hstead]

Thanks Mark. I just bought it yesterday used, as a 2016 Tech Package with 33, 500 miles on it. It was not a CPO car, and the original purchase date was May 25, 2016.

 

[EdP]

I have also read on this site that I may be able to get a Hyundai warranty for maybe $1500 or so? Is that accurate still these days?
I am worried about all of the tech and electronics that it may be worth it.

Normally I think extended warranties are a waste of money, but this is not a $99 CD player that can be bought new four years later for $49. Not just Genesis, but the technology in cars today can be very expensive and one module replacement would cover the cost of the warranty. I'd trust Hyundai a bit more than an unknown 3rd party if the cost is close.

 

[PMCErnie]

So, you have more than 3 years/27,000 miles left on your basic warranty and you want to buy a 4 year extended warranty now?

Many dealers do not offer the Hyundai warranty, but make more profit with a 3rd party brand. I bought one of those through my Hyundai dealer. Paid $1,295 a few years ago. I've already broken even on it. You needn't buy a warranty yet. Build up a relationship with your dealer.

 

[Hstead]

So, you have more than 3 years/27,000 miles left on your basic warranty and you want to buy a 4 year extended warranty?

I haven't decided yet obviously, but with the electronics I am considering it. I haven't started researching what the basic warranty covers. I was under the assumption the basic 5 year 60 was the power train. What else does the basic cover?

Edit- a quick search appears the radio and some electronics are only covered for 3 years and 30,000, so I don't have much left on the radio etc.

 

[Mark_888]

I haven't decided yet obviously, but with the electronics I am considering it. I haven't started researching what the basic warranty covers. I was under the assumption the basic 5 year 60 was the power train. What else does the basic cover?

Edit- a quick search appears the radio and some electronics are only covered for 3 years and 30,000, so I don't have much left on the radio etc.

Starting in 2016, the radio and electronics are 5 years or 60K miles, whichever comes first. That is the new car warranty that covers just about everything (except for paint, AC, battery, wear items, adjustments, etc). See the Hyundai Warranty web page.

The cost of an extended warranty may go up if you wait until right before the 5 years or 60K mile new car warranty expires. Since you are not the original owner, and it is not a CPO, you have no extended powertrain warranty. So if you plan on keeping the car long enough, I think the Hyundai Platinum Warranty may be good for you, but many dealers try and rip people off and you have to shop around for it.

- - - Updated - - -

Many dealers do not offer the Hyundai warranty, but make more profit with a 3rd party brand.

They are lying about first part, but you are right about the second part. The warranty is offered by HMA, not the dealer, and is sold by the dealer just like any other part. There is one member of this forum who is a Hyundai dealer parts manager who sells the Hyundai warranties.

Build up a relationship with your dealer.

Not everyone lives in Mayberry. Where I live, the odds of any dealer employee being there more than 2 years is slim to none. Average tenure for a service advisor at a particular dealer is probably less than a year.

 

[silberma]

I only buy reliable cars and never bought an extended warranty or even had warranty work since 2005. IMHO It is a waste of money on the Genesis.

 

[Mark_888]

I only buy reliable cars and never bought an extended warranty or even had warranty work since 2005. IMHO It is a waste of money on the Genesis.

I have never bought one either, but if your Lexicon radio/head unit blows, or your amp blows, it is $4K each plus labor. If you bought new, then you have the 10 year - 100K mile extended powertrain warranty, but the OP does not have that.

Dealer mechanics cannot fix radios, transmissions, engines, anymore, they can only replace them. They are just too complicated these days. But I think that a Base Trim Genesis could be reliable enough to go without an extended warranty, since it doesn't have all that stuff that breaks and is hard to fix.

 

[PMCErnie]

I only buy reliable cars and never bought an extended warranty or even had warranty work since 2005. IMHO It is a waste of money on the Genesis.

Sounds like Palm Beach must be Mayberry.

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[batmanmiami1]

With as much warranty left on the car, if it was me, I'd shy away from any extended warranty until the very last moment. A car out of warranty is a gamble for sure. When my warranties are up I usually just trade them in. Perfect excuse to buy a Certified G80 Sport down the road.

 

[GarnetTy1473]

They are lying about first part, but you are right about the second part. The warranty is offered by HMA, not the dealer, and is sold by the dealer just like any other part. There is one member of this forum who is a Hyundai dealer parts manager who sells the Hyundai warranties.

Extended warranties go through the finance department, not parts.

 

[tuckerdog1]

If it is not a CPO, I think you lose 50% of the power train warranty buying used. I don't know if that also applies to the bumper to bumper warranty. If it does, you're getting close.
Extended warranties are a roll of the dice. If you never use it, money wasted. If something high dollar craps out, you pat yourself on the back for buying one. I'm just a paranoid
about repairs, so I always buy them. Pretty sure I over paid, but I bought the Hyundai bumper to bumper 10 year ( from date it went into service ) 120K miles and zero deductible.
Not sure, but think I paid $2200.

Tuckerdog1

 

[glennk]

I have discussed this some time in the past in a forum I started. Look there.

Mark_888: Make sure you read the warranty contract. Most of them will NOT cover the stereo head unit nor the steering control module.

 

[Mark_888]

I have discussed this some time in the past in a forum I started. Look there.

Mark_888: Make sure you read the warranty contract. Most of them will NOT cover the stereo head unit nor the steering control module.

I think at one time the wording of the warranties seemed to exclude those, but more recent ones seemed to cover it. It has been confusing over the years.

 

[PMCErnie]

Extended warranties go through the finance department, not parts.

Absolutely correct. Also, many dealerships do not offer the Hyundai extended warranty, preferring instead to offer 3rd party brands such as Costguard, the only brand my Hyundai dealer sells. As I mentioned above, it's already paid for itself...and it runs till 2024. I may not own the car then, but someone in my family will be driving it. The warranty is transferable for $50.

 

[Mark_888]

Absolutely correct. Also, many dealerships do not offer the Hyundai extended warranty, preferring instead to offer 3rd party brands such as Costguard, the only brand my Hyundai dealer sells. As I mentioned above, it's already paid for itself...and it runs till 2024. I may not own the car then, but someone in my family will be driving it. The warranty is transferable for $50.

They would sell it at the right price, so I don't believe what they told you.

 

[PMCErnie]

They would sell it at the right price, so I don't believe what they told you.

I'll try to get over your disbelief.

 

[batmanmiami1]

Food for thought. Since Genesis is kinda separating from Hyundai wonder if they might offer a better extended warranty for Gens only just to show they're upgrading their offerings. Never no what lurks in the corporate mind.

 

[glennk]

I think at one time the wording of the warranties seemed to exclude those, but more recent ones seemed to cover it. It has been confusing over the years.

HPP still doesn't cover it. Thankfully, the steering module can be covered through your auto insurance...but still requires a claim and a deductible.