Extended Warranty Yes or No?

[BJDOO]

My 4.6wTech came in two weeks ago. I went ahead with the extended warranty as I plan to keep this car 8-10 years and put 10K miles per year on the car. I purchased the Platinum which covers "everything" for 10 years/100K. I would say the key factor is the electronics, which have a basic warranty of 36mo/36K. My coverage is blended with a dealer add-on that covers normal maintenance ( oil, tire changes, etc ) for 5 years and cost $1,700. They dealer does seem to have some flexibility.

The car is great. The only thing I can find to complain about so far is lack of anywhere to keep change!

 

[unknown_owner]

When I bought my current car from Carmax I opted out of their extended warranty; even mentioned the EW to the sales rep who wanted to know the website for himself. I went with a 3rd party warranty called Warranty Direct. It was for 7 years/100,000 miles and it was a only $1200 with a year payment plan. There are longer warranties up to like 150,000mi for a couple hundred dollars, not thousands. I was able to add airbag coverage (airbags and sensors) to my existing EW for only $65.

You pretty much take your car to any dealership and they call in to Warranty direct for authorization to cover the repairs. I have used it twice for costly repairs and it was hassle free. My deductible was only $50. The Mitsubishi dealership said that they at first questioned this type of warranty but turned out that it was very easy to authorize and get their payment. The thing about the dealers extended warranty is that it is not a true full coverage warranty, there are a lot of exclusions from the dealerships plan.

If I buy another car, I will also go back to this warranty.

 

[Sonata2009]

There are all kinds of "flavors" of extended warrantees out there. If you have a Tech Pkg, I'd strongly suggest the warantee, as the tech is only covered for 36 months by the original warantee. These are complex and costly units, and service in cars (hot/cold) can be tough on them.

Make ABSOLUTELY SURE that any extended warantee will fully cover the tech package, as some don't. Also look at the deductable, if there is one. Mine was $1400 (V8 Tech) but has no deductable and explicitly covers everything that was included on the car. I excludes only "aftermarket" parts, not on the original car.

 

[rpenland]

At long last, next week I am supposed to go pick up my new Genesis (WSP with black interior, 3.8 with tech package).
I have never purchased an extended warranty on a vehicle before but I am exploring it carefully this time due to the "Tech package factor".
In reading through this Thread I have been given some good "food for thought"; however, the last post was submitted several weeks ago. Does anybody have any new thoughts/suggestions or reccent experiences on this subject that they would like to share, to assist me and other new buyers in making the decsion as whether to buy such a warranty?
Thanks!

 

[gipp]

$1200 ten year policy including all Premium electronics, seperate gap replacement car coverage and seperate disabilty and life coverage that pays off any outstanding loan balance. To me the replacement car coverage is key as is the premium electronics. The basic was avialable for $895 without the extras.

 

[DesertGen]

The dealer I bought from last night (Larry Miller in Phoenix) only offers their own wrap package on the car (extended warranty and service). They wanted $1600 plus and would not negotiate at all. They said I had 10 days to decide and would not be able to purchase after that! Their wrap was called Landcar (http://www.landcar.com/landcar/). It ties you to their dealership. Any work done out of state would require a $100 deductible. Anyone heard of anything like this?

I told em to forget it. I am somewhat interested in getting an ext warranty, but not for that much or with such restrictions.

Any suggestions?

 

[KenT]

Just buy the Hyundai Warranty not one of those "Dealership or Dealership Group ones"- the manufacturers warranties will be good in all states.

If you need a better deal on the HPP warranty I can hook you up.

 

[CalvinHobbes]

Here is my take.

I have the 4.6 Tech.

My finance manager suggested the warranty...NOT because he makes a profit off the sale of it, but that the car is nothing but a rolling computer. Well, computers crash and get lost in themselves more often than not. I decided to go ahead with it. He said that I can cancel the extended warranty at anytime for a pro-rated amount.

I simply thought to myself:

A.) This is the FIRST production run of the car and we are practically the GUINNIEA PIGS of the Genesis line.
B.) Yes, it is a computer on wheels...dang, mine at the house crashes all the time.
C.) Probability of a quick fix at a cheap price to reprogram...next to zero. They said at the dealership to expect a minimum price of $2000 to dive into the computer system if a problem arose.
D.) If my wife drives it to work and back for 10 years it will never reach 100k miles. So I can have 10 years of protection...even the paint, or the leather strapped to the dash. I almost have no doubt that it will dry out and crack before 10 years.

Anywho, if you get the tech package...get the warranty. I think it is a very smart move...but to each his own.

Matt

Hyundai's extended service contracts do not cover the car bumper to bumper. HPP specifically excludes air bag systems, emission equipment... Look at the HPP brochure for more details.

The paint on the car is only covered for 3/36,000 also. The battery is covered for two years, the third year is prorated at a cost to you of over $78.00.

Hyundai hired out to JM & A to cut their cost on service contract claims. As this change happened within the last two years I have no inkling as to what is going to be covered under the new service contracts.

Hyundai is a very conservative company. Nowhere at the dealership level, nor through the DPSM could one get an exact printout on what was covered by HPP. Always read the fine print and make no assumptions on coverages.

 

[Richard Ft. Lauderdale]

When I bought my current car from Carmax I opted out of their extended warranty; even mentioned the EW to the sales rep who wanted to know the website for himself. I went with a 3rd party warranty called Warranty Direct. It was for 7 years/100,000 miles and it was a only $1200 with a year payment plan. There are longer warranties up to like 150,000mi for a couple hundred dollars, not thousands. I was able to add airbag coverage (airbags and sensors) to my existing EW for only $65.

You pretty much take your car to any dealership and they call in to Warranty direct for authorization to cover the repairs. I have used it twice for costly repairs and it was hassle free. My deductible was only $50. The Mitsubishi dealership said that they at first questioned this type of warranty but turned out that it was very easy to authorize and get their payment. The thing about the dealers extended warranty is that it is not a true full coverage warranty, there are a lot of exclusions from the dealerships plan.

If I buy another car, I will also go back to this warranty.

I just looked at the Warranty Direct extended warranty.
Here is just one of the many exclusions: C. ANY COMPONENT NOT COVERED BY THE VEHICLE MANUFACTURER FOR THE FULL TERM OF THE VEHICLE WARRANTY IS EXCLUDED.

It also specifically excludes a GPS or dvd player,air bags and phone system. There are many other excluded items.

It appears to me that this warranty specifically excludes just about everything you would want an extended warranty for.

 

[DesertGen]

After some Consumer Reports research I have decided against a warranty. My own experience has been that they usually are not worth the cost. I did have one car where I broke even with the cost of the warranty, but that is the exception to the rule.

CR's Stat's on Hyundai extended warranties are that through 12/07 the average owner has lost $400.00. They report that 53 percent have had reason to use the warranty and only 23 percent have saved money.

Being in an insurance related business I know that the game is stacked heavily toward the insurer, not the insured.

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[blasterguam]

Jusst for the point of doing research, I checked out the warrantydirect.com website for a new Genesis. There IS coverage available to include all the electronics, but it's $1831 (in Florida) for a 7 yr/100K mile package. Here's some verbiage for the inclusive part of the package:

LuxuryCare+ Coverage Statement
We will pay the repair facility of your choice for the reasonable cost to repair or replace any part of your vehicle where a failure has occurred, except for those items listed in the exclusions section.
In addition, LuxuryCare+ includes coverage for the following parts:
Emissions Systems - Air Fuel Ratio Sensor, Air Induction System, Air Pump, Anti-Knock Sensor, Barometric Pressure Sensor, Canister Purge Solenoid, Deceleration Valve, EGR Recirculation System, EGR/EFE Thermal Vacuum Switch, EGR/EFE Valve, Engine Oil Fill Cap, Fuel Fill Pipe and Cap, Fuel Fill Neck Restrictor, Fuel Receptacle, Fuel Sensor, Fuel Tank Pressure Control Valve (PCV), Fuel Temperature Sensor, Idle Air Control Valve, Intake Air Resonator, Intake Air Temperature Sensor, Intake Manifold, Manifold Air Pressure (MAP) Sensor, Mass Air Flow Sensor, Oil/Air Separator, Oxygen Sensor, PCV System, Positive Crankcase Ventilation Valve, Powertrain Control Module (PCM), Secondary Air Injection System, Throttle Body Assembly (MFI).
GPS Navigation Systems - Factory Installed Navigation display unit, navigation control module, navigation system wiring harness.

DVD/Entertainment Systems - Factory Installed LCD screen (10" or less), RF modulator, video cassette player with auxiliary inputs (No recording capability), digital video disc player, power converter.

Phone Systems - Factory Installed Charger/cradle, microphone, speakers, phone.
Internet Access Systems - Factory Installed Power converter, satellite receiver, satellite dish or wireless receiver (Metropolitan areas only).
Airbag Electronics - Airbag modules, sensor(s), airbag cable/contact coil, clock spring, on/off switch.

Not sure if this is worth it since it's only 7 years (I only drive about 10K/yr).

 

[phild]

I am not a fan of extended warrantees but I decided to purchase the platinum Hyundai coverage for my Genny with tech and premium. Two months after purchase, the radio head needed to be replaced. Of course the replacement is in process with no charge to me. If this happens after 36 months, I would have paid for the extended warrantee plus some. With this in mind, I purchased the insurance from NASHUA today. The sales folks are Very responsive and the price is competitive!

 

[palloverspec]

YES YES on extended warranty. I purchased a 2012 R-Spec from CarMax on 9/13 of this year. The car has 27,000 miles on it and runs like a charm.

I called several dealers around the local area for an extended Hyundai Platinum warranty, 10 years 100,000 miles. I was quoted insane prices.

Dealer 1, quoted me $2000.00 and came down to $1500.00. I am still awaiting a call back from this dealer because there was some issue regarding the fact the car was not purchased as a CPO. Granted the car still had the remaining of the factory new car warranty on it.

Dealer 2 presumptuously quoted me $3100.00 for a 10 year 100,000 mile warranty platinum coverage. I basically did not return that dealer call.

Dealer 3 interestingly quoted me a little over a $1000.00 for the platinum warranty. Basically told me they don't make that much profit off their warranty and try to keep the customers coming back for service.

The Hyundai extended warranty is offered by Safe Guad Warranty, and is backed by Hyundai. I called Safe Guard about applying an extended warranty from Hyundai to a non-CPO Genesis, and I was told there should be no problem in doing that, as long as the car is still under the factory warranty and miles are low. I guessed under 30,000 miles.

There are some good dealers out there that are competitive in warranty sales. I went at the end of September to make the sale and the finance manager was more than willing to work with me. You just got to love that quota system.

 

[brfatal]

YES YES on extended warranty. I purchased a 2012 R-Spec from CarMax on 9/13 of this year. The car has 27,000 miles on it and runs like a charm.

I called several dealers around the local area for an extended Hyundai Platinum warranty, 10 years 100,000 miles. I was quoted insane prices.

Dealer 1, quoted me $2000.00 and came down to $1500.00. I am still awaiting a call back from this dealer because there was some issue regarding the fact the car was not purchased as a CPO. Granted the car still had the remaining of the factory new car warranty on it.

Dealer 2 presumptuously quoted me $3100.00 for a 10 year 100,000 mile warranty platinum coverage. I basically did not return that dealer call.

Dealer 3 interestingly quoted me a little over a $1000.00 for the platinum warranty. Basically told me they don't make that much profit off their warranty and try to keep the customers coming back for service.

The Hyundai extended warranty is offered by Safe Guad Warranty, and is backed by Hyundai. I called Safe Guard about applying an extended warranty from Hyundai to a non-CPO Genesis, and I was told there should be no problem in doing that, as long as the car is still under the factory warranty and miles are low. I guessed under 30,000 miles.

There are some good dealers out there that are competitive in warranty sales. I went at the end of September to make the sale and the finance manager was more than willing to work with me. You just got to love that quota system.

Since your car was not purchased certified pre-owned you can't get a Hyundai extended warranty for it. You either had to have purchased the car new or certified pre-owned for it to qualify.

Having worked in the auto industry, NEVER EVER EVER EVER buy a 3rd party extended warranty. They aren't worth the paper they are written on. They do bottom line, bare minimum repairs, want repairs done with the cheapest parts available (even if that means using used parts), and are a huge hassle to get authorizations from. ONLY use manufacturer extended warranties.

 

[palloverspec]

Since your car was not purchased certified pre-owned you can't get a Hyundai extended warranty for it. You either had to have purchased the car new or certified pre-owned for it to qualify.

Having worked in the auto industry, NEVER EVER EVER EVER buy a 3rd party extended warranty. They aren't worth the paper they are written on. They do bottom line, bare minimum repairs, want repairs done with the cheapest parts available (even if that means using used parts), and are a huge hassle to get authorizations from. ONLY use manufacturer extended warranties.

I do agree with you regarding purchasing a 3rd party warranty. The Hyundai extended warranty I purchased is through a Hyundai dealership and is the CPO WRAP. I had several concerns as to whether I can get the CPO WRAP due to the fact my car was not CPO certified. Safe Guard Warranty handles the CPO WRAP coverage for Hyundai and basically informed me it was at the dealer's discretion to sell me the CPO WRAP coverage. Safe Guard also stated it was allowable to do so.

Most extended warranties sold by dealers and backed by the manufacture are 3rd party related. Meaning, either administered or sold by a warranty company but backed by the manufacturer. BMWs, and Mercedes use Continental Warranty for the local dealers here in MD. Hyundai for their CPO WRAP, use Safe Guard.

Granted, I was a little uncertain as to wheter I could receive the coverage based on the fact the car was a non-CPO.

In any aspect, it is ideal to get a manufacture backed warranty when you consider all the bells and whistles associated with the car. Being a mechanical engineer I can only imagine what it cost to fix the tranny, engine, and the radar electronics on our cars.

 

[nyjetfan]

Another benefit of an extended warranty is you automatically get a 2nd professional opinion when the mechanic finds something you weren't aware of and asks if you want the work done. As example, this week I brought my 2009 4.6 in for an oil change and was told my rack and pinion was leaking and needed to be replaced. Cost $2600 dollars. I reminded them I had the Platinum extended warranty and they called the representative to inspect. He denied the claim and said the fluid the mechanic found was not from the rack and pinion and after cleaning it found no evidence of a leak. Without the warranty I'm most likely paying $2600 for a repair I didn't need. The mechanic also said my Purge control valve needed replacement and that was not approved and also the rear differential was leaking and that was approved. I hear so many stories from friends and family of work being done to their vehicles to fix an issue and the issue isn't resolved and being told they have to spend more money to try something else. An extended warranty will pay for itself in not having to pay for unnecessary repairs.

 

[phild]

As long as you get the Hyundai warrantee and it is for a reasonable price (Let say under $1400 although mine cost $1200) I think it is a good insurance bet. Like all insurance, you don't want to use/need it but like all insurance, if you do have a situation where you can do a claim, it is good to have. As an example, the "head" replacement for a 2013 Genny which was covered under warrantee would have been $7,700 to replace. Didn't need the extended warrantee for this repair as it was covered under the manufacturer warrantee but I am sure glad I have the insurance if this should happen again. BTW: the electronics are not covered for 10 yrs/100,000 miles.
Good luck!

 

[ssiperko]

I purchased my 2013 24,000 mile R-Spec a month ago I was offered a "Bumper to Bumper" extended "Warranty".

I chuckled and declined.

Just so you all know .... the ONLY "Warranty" you will ever get is through the manufacture. I've been employed in the asset protection division for the 13th largest insurance company on the planet for 8 years now and trust me..... ANYTIME you hear "Bumper to Bumper" and "Warranty" that is NOT Manufacture backed walk away, please. You are purchasing a "Contract" of some kind. BIG difference between them, ask any lawyer. Me? I'll buy one for my car just before the 5/50 expires knowing exactly what is covered with zero illusions. What I will purchase is insurance and nothing more which is what a Service/Mechanical failure "Contract" is.

I've been in parts/dealers/shops/car bidness for over 35 years seeing all the good/bad/ugly. I do recommend a top tier contract on our cars if for only one repair ..... NAV. Insurance is a good purchase for protection .... life/health/home/auto..... none of it is to make anything new again it's to protect you from incurring large out of pocket expense. Knowing what you are purchasing will keep you from blowing yer stack when yer AC is done because a stone punched yer condenser or yer tie rod is denied for being bent.

SS

 

[ssiperko]

As long as you get the Hyundai warrantee and it is for a reasonable price (Let say under $1400 although mine cost $1200) I think it is a good insurance bet. Like all insurance, you don't want to use/need it but like all insurance, if you do have a situation where you can do a claim, it is good to have. As an example, the "head" replacement for a 2013 Genny which was covered under warrantee would have been $7,700 to replace. Didn't need the extended warrantee for this repair as it was covered under the manufacturer warrantee but I am sure glad I have the insurance if this should happen again. BTW: the electronics are not covered for 10 yrs/100,000 miles.
Good luck!

Phil has a SOLID grasp on this subject.

SS

 

[PMCErnie]

I purchased my 2013 24,000 mile R-Spec a month ago I was offered a "Bumper to Bumper" extended "Warranty".

I chuckled and declined.

Just so you all know .... the ONLY "Warranty" you will ever get is through the manufacture. I've been employed in the asset protection division for the 13th largest insurance company on the planet for 8 years now and trust me..... ANYTIME you hear "Bumper to Bumper" and "Warranty" that is NOT Manufacture backed walk away, please. You are purchasing a "Contract" of some kind. BIG difference between them, ask any lawyer. Me? I'll buy one for my car just before the 5/50 expires knowing exactly what is covered with zero illusions. What I will purchase is insurance and nothing more which is what a Service/Mechanical failure "Contract" is.

I've been in parts/dealers/shops/car bidness for over 35 years seeing all the good/bad/ugly. I do recommend a top tier contract on our cars if for only one repair ..... NAV. Insurance is a good purchase for protection .... life/health/home/auto..... none of it is to make anything new again it's to protect you from incurring large out of pocket expense. Knowing what you are purchasing will keep you from blowing yer stack when yer AC is done because a stone punched yer condenser or yer tie rod is denied for being bent.

SS

You can mock all you want, but your Radio/Nav warranty has likely expired already (3/36,000). You are living on borrowed time. Also, the rest of your limited warranty is good for 5/60,000.