Extended Warranty Yes or No?

[BJDOO]

Having now placed an order for a 4.6 w/Tech package and learning about this forum, my enthusiasm for the car is building.
I have not found any threads on the discussion of dealer extended warranties and would welcome opinions. I have never been a believer in extended warranties but tend to keep cars for a while - 99 Volvo, 2000 Lexus, 99 Jag - and plan to keep this car for 100K miles or so. I have been offered 10year/100K bumper to bumper for $1,295 and an option which includes the aforementioned plus oil changes and tire rotations - in essence, all maintenance for 5 years for $1,695. The finance rep at the dealer suggested that maintenance on the tech package could be expensive and I have read that tire rotation can be expensive?
Any thoughts?

I would be happy to discuss the prospect of acquiring a $500 coupons in a private message.

 

[KenT]

I am a fan of Extended Warranties.

But I would only buy an extended warranty that is offerred by the manufacturer - if the dealer is selling a third party-

don't buy it.

 

[PlatEdSonata]

Keep in mind the price of extended warranty is negotiable as well. I bet you you can have it for well below $1000.

 

[EdVoylesHyundai]

Whether or not to buy an extended warranty is (almost) always a tough decision. It makes it harder when the basic warranty covers you out to 10/100. If I were trying to decide, I would look at how long I kept the Volvo, Lex and Jag and how many miles were on them when they were relieved of service. How many of those miles did you drive them? You said you plan on keeping this car out to 100k, but in Atlanta, some people put 100k on their cars in as little as 2 or 3 years. How many years do you plan on keeping the car? If you drive 10-12k a year, I would take a close look at the warranty. If you drive 20-25k a year, that means you would only have the car 4-5 years.

That said, the tech package shouldn't require any maintenance, but repairs to its systems may be rather expensive. Make sure you check that the systems you are worried about are expressly covered by the warranty. The Genesis has some fairly new technology in it and it would really suck to buy a warranty thinking that something is covered and finding out it is not once it fails.

With respect to the maintenance package, you have to ask yourself a few questions. 1. Do I want only factory certified techs working on may car or am I ok with the oil-change guy having to find me and ask me where my oil filter is? (it is under a cover, on top of the motor) 2. Is it practical for me to return to the dealer for service so I don't waste the $ I spend on the maintenance. 3. Do I want to rotate my tires so they last longer?
If you changed your oil every 7500 miles and had your tires rotated every 15k, you would spend well over $500. But again, read the fine print on your dealer's program and make sure that the limitations and restrictions will work for you.

 

[KenT]

If you do get a Hyundai HPP Extended Warranty- spend the additional money and get
the zero deductible if available.

Since I know I did have to use my extended warranty on a Lexus Repair- bad button on radio- so Lexus replaced the whole unit- $1.5K without any hesitation- it was replaced with no problem.

So in my mind with cameras, etc.- get it

 

[BJDOO]

Nothing is ever simple. I understand the basic warranty to be "bumper to bumper" 5 years/60,000 miles and 10year/100,000 for the powertrain - except the tech package which is 3 years/36 months. I also understand that the warranty is thru Hyundai but administered by JM&A. The service portion of the extended warranty is thru the dealer. I still have more questions to ask. We put less than 10,000 miles on each of our cars so I expect this makes more sense for me than for many who drive more.

 

[KenT]

If I am not mistaken the Hyundai HPP Plans are administered by
Fidelity Warranty Services in Florida.

Maybe the one you are thinking about is "a dealer" policy.

 

[EdVoylesHyundai]

If I am not mistaken the Hyundai HPP Plans are administered by
Fidelity Warranty Services in Florida.

Maybe the one you are thinking about is "a dealer" policy.

Fidelity Warranty Services and JM&A are the same thing (with regard to warranty).

 

[BJDOO]

Nothing is ever simple. I understand the basic warranty to be "bumper to bumper" 5 years/60,000 miles and 10year/100,000 for the powertrain - except the tech package which is 3 years/36 months. I also understand that the warranty is thru Hyundai but administered by JM&A. The service portion of the extended warranty is thru the dealer. I still have more questions to ask. We put less than 10,000 miles on each of our cars so I expect this makes more sense for me than for many who drive more.

Sorry for the repeated message - I can't figure out how to delete.

 

[realpix]

I am a fan of Extended Warranties.

But I would only buy an extended warranty that is offerred by the manufacturer - if the dealer is selling a third party-

don't buy it.

Why buy an extended warranty on a auto that has the best warranty in America?

And search on google most of these companies with extended warranties don't pay out on claims anyway....

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[gipp]

I had a 1984 VW Quatum GL5 that I purchased new with extended factory warranty. I loved the car, hated the servicing. Long story short, each and every time I had to put in a claim I had to fax in over 100 pages of service records to prove the car was properly maintained in order for the insurance to pay up. They will do anything they can not to pay a claim. If you are the type of person who will get a 3 ring binder and put every single receipt associated with the car into the binder and you do not mind fighting with the insurance company- then it may make sense. By the way VW sold the policy to another insurance company after 5 years making claims even more difficult. One claim(rear differential) took over 2 weeks to process in which I refused to pay and the dealer refused to work on the car- so it just sat in the dealer lot for 2 weeks while we faxed and fought over the phone.

My daughter has an Acura RSX which I purchased an extended warranty on only because as a Costco member I got a 25% discount bringing it to $725. On 2 seperate occasions last year SRS computer boards went bad- each time the dealer repair would have been over $1300. That car is serviced fairly regularly by Acura since she is in college and it is just easier to send her to the local dealer so they have the records online and have never given us a problem with applicable coverage.

Bottom line is that the extended insurance has always paid off for me but it requires record keeping rigor and extensive follow through in order to get a claim actually processed.
Does coverage include a loaner car?

 

[Sonata2009]

The other issue is that most of the hyundai extended warrantees specifically exclude audio and technology electronics . . .

 

[EdVoylesHyundai]

I had a 1984 VW Quatum GL5 that I purchased new with extended factory warranty. I loved the car, hated the servicing. Long story short, each and every time I had to put in a claim I had to fax in over 100 pages of service records to prove the car was properly maintained in order for the insurance to pay up. They will do anything they can not to pay a claim. If you are the type of person who will get a 3 ring binder and put every single receipt associated with the car into the binder and you do not mind fighting with the insurance company- then it may make sense. By the way VW sold the policy to another insurance company after 5 years making claims even more difficult. One claim(rear differential) took over 2 weeks to process in which I refused to pay and the dealer refused to work on the car- so it just sat in the dealer lot for 2 weeks while we faxed and fought over the phone.

My daughter has an Acura RSX which I purchased an extended warranty on only because as a Costco member I got a 25% discount bringing it to $725. On 2 seperate occasions last year SRS computer boards went bad- each time the dealer repair would have been over $1300. That car is serviced fairly regularly by Acura since she is in college and it is just easier to send her to the local dealer so they have the records online and have never given us a problem with applicable coverage.

Bottom line is that the extended insurance has always paid off for me but it requires record keeping rigor and extensive follow through in order to get a claim actually processed.
Does coverage include a loaner car?

The other issue is that most of the hyundai extended warrantees specifically exclude audio and technology electronics . . .

This is why you need to read through the warranty thoroughly before hooking up. If you have your car serviced at your dealer (which you should), then they will have all records in hand and they will deal with the warranty company directly (the benefit of working with the HPP and JM&A) to eliminate the hassle on your part.

 

[realpix]

Keep in mind the price of extended warranty is negotiable as well. I bet you you can have it for well below $1000.

You probably could get it foryourself for $350 or so.

And why buy an extended warranty for a car with the best warranty in America?

And a lot of warranties don't pay when you make a claim

 

[Bear]

I did. Platinum, cost list on purchase agreement $1952.00

 

[YEH]

For a Genesis w/o a Tech pkg - no way, esp. since Hyundai long-term reliability is higher than Infiniti (JD Power) and in the new Consumer Reports reliability rankings, Hyundai places 8th (presumably, the Genesis, mechanically, is going to be more reliable than the models w/ less expensive parts).

However, nowadays, the things that tend to break are all the tech toys (part of the reason why Mercedes reliability ratings have been less than stellar).

Tough call - but if you are planning to keep your Genesis 7-9 yrs, it may be worth it (decent chance that the nav or back-up camera will go faulty by year 7 or 8).

 

[PINGGOLF]

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

 

[Sonata2009]

PINGGOLF,

I assume that you've read the conditions of your warrantee. Does it include all the tech goodies? I know that the original warrantee only covers 36 months on the tecdh, and a lot of the Hyundai extended warrantee specifically exclude audio and electronics.

If it is inclusive, could you let us know about how much the extra cost was?

Thanks! and congrats on your new ride, with LOTS of room for clubs!

 

[Sonata2009]

PINGGOLF,

Sorry! I saw thqat you already told us it was $1200! Good deal!

 

[PINGGOLF]

Sonata 2009

Well...stupid me, I have not even read the extended warranty yet...

However, the finance manager is my high school buddy, and I would like to trust what he said by it being "bumber to bumper for 100k miles."

Either way, I still need to check out what the book says. Ill keep all of you posted on what I find out.