Extended warranty

[Fltelly]

Am looking to purchase a 3.5 prestige and am inclined into purchasing the extended warranty. What is a good price?

 

[FirstTurbo]

Am looking to purchase a 3.5 prestige and am inclined into purchasing the extended warranty. What is a good price?

Crickets huh? I just nabbed a 2023 prestige leftover and declined the extended warranty deals. I usually like to maintain a car myself but after reading complaints, I'm thinking the same as you. After taking a peak at whats covered and not covered I will stay declined. No coverage for appearance items, bulbs-incl headlights etc. So often their mechanics can attribute a loss to other than a covered loss. Especially if you don't splurge for dealer maintenance checks. $900 here-$500 there-$2k brake jobs etc. I'm crossing my fingers instead.

 

[mikemu30]

I read this forum as my wife is shopping for a mid size crossover and can't even bring myself to walk into a Genesis showroom.

 

[SebringSilver]

I read this forum as my wife is shopping for a mid size crossover and can't even bring myself to walk into a Genesis showroom.

Oh, why's that?

 

[EdP]

I read this forum as my wife is shopping for a mid size crossover and can't even bring myself to walk into a Genesis showroom.

I'm with you. My next car is going to be the brand that lasts 100,000 miles, 15 years, never needs a repair and nothing wears out. I'm looking, sure it is out there. I'll post it here when I find it.

 

[joegr]

I'm with you. My next car is going to be the brand that lasts 100,000 miles, 15 years, never needs a repair and nothing wears out. I'm looking, sure it is out there. I'll post it here when I find it.

I've never had a car that didn't do considerably better than 100K miles...

 

[EdP]

I've never had a car that didn't do considerably better than 100K miles...

Never needed anything aside from brakes and tires? I've had a couple but most will need something. Four had AC compressor or coil, starter, alternator, water pump, transmission, and much more than I can recall over 62 years and many brands except Chrysler. Not that they were better, never owned a Chrysler product.

I've had 6 Hyundai/Genesis cars. Two never needed anything, all were better than other brands.

 

[joegr]

Never needed anything aside from brakes and tires? ...

I don't think that the panthers ever needed anything non routine. Other cars have needed some repairs, but nothing major and no engine issues. Did have two transmission failures, but both were near or over 200K miles.

 

[mattun]

I'm with you. My next car is going to be the brand that lasts 100,000 miles, 15 years, never needs a repair and nothing wears out. I'm looking, sure it is out there. I'll post it here when I find it.

My Volt got 135K miles, 10 years, only repair was a $80 12V battery. That's a big reason I'm eyeing the Electrified over the gas to my wife and bought an EV6 for myself. Probably scratch Nissan off your list, her Mirano went 65K trouble free miles over the same span and then the transmission crapped out. $7K to fix... so we're looking for something new.

 

[tocohillsguy]

Not sure whether it's comparable, but I recently purchased an extended warranty for a CPO GV80 2.5T Prestige. Dealer rep initially quoted about $3100. I declined, but she then dropped it to $2452, which I accepted. I later shopped for unaffiliated policies, but they were more expensive, although my search wasn't exhaustive. I still wonder if I should drop the coverage, but I kept my last vehicle for 17 years and 200k miles, and I'm guessing there isn't much that goes wrong with a GV80 that isn't expensive to repair. I suppose I can hope the karma of having the policy will work to keep me from ever needing it. The policy is transferable and I can drop coverage within 30 days without cost and with a prorated refund if I drop thereafter. I also purchased tire and wheel protection coverage. The potholes around town are known to eat low profile wheels/tires.

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[msaunders9430]

I'm researching the Genesis extended warranties as I plan for a possible ev purchase within the next year or two. As I read some of the Genesis extended warranties (Genesis Protection Plan - Vehicle Service Contract (GPP-VSC) and the Electrified Care EV Maintenance Wrap) I notice that they run concurrent with the warrranties included with a new car purchase, shown below.

• Basic Bumper-to-bumper - 5 yrs./60,0000
• Powertrain/battery - 10 yrs./100,000 miles
• Maintenance 3 yrs./36,000 miles

If I'm understanding this correctly, in purchasing a 10 yr/100,000 mile GPP-VSC extended warranty, you're really only paying for an extra 5 yrs./40,000 miles of Bumper-to-Bumper coverage. I was quoted a price of $4,000. In some ways, I'd pay an extra $2,000 for the Bumper-to-Bumper I would have already paid for at the time of the car purchase and another $2,000 for the extra 5 years.

In purchasing the EV Maintenance Wrap, at a cost of $3,000 for 8 yrs./96,000 I would really be paying for an extra 5 yrs./60,000 miles. Again, I would be paying twice for the first 3 yrs./36,000 miles.

Seems like a waste or am I missing something?

 

[mattun]

I'm researching the Genesis extended warranties as I plan for a possible ev purchase within the next year or two. As I read some of the Genesis extended warranties (Genesis Protection Plan - Vehicle Service Contract (GPP-VSC) and the Electrified Care EV Maintenance Wrap) I notice that they run concurrent with the warrranties included with a new car purchase, shown below.

• Basic Bumper-to-bumper - 5 yrs./60,0000
• Powertrain/battery - 10 yrs./100,000 miles
• Maintenance 3 yrs./36,000 miles

If I'm understanding this correctly, in purchasing a 10 yr/100,000 mile GPP-VSC extended warranty, you're really only paying for an extra 5 yrs./40,000 miles of Bumper-to-Bumper coverage. I was quoted a price of $4,000. In some ways, I'd pay an extra $2,000 for the Bumper-to-Bumper I would have already paid for at the time of the car purchase and another $2,000 for the extra 5 years.

In purchasing the EV Maintenance Wrap, at a cost of $3,000 for 8 yrs./96,000 I would really be paying for an extra 5 yrs./60,000 miles. Again, I would be paying twice for the first 3 yrs./36,000 miles.

Seems like a waste or am I missing something?

I'm pretty anti-extended warranties for EVs. Sure, newish tech but there are fewer things that can go wrong and the whammy (the main battery) has a 10y/100K warranty already. MY OPINION is you're better off stuffing that 3K in a CD for 10 years at 5% and using that towards any weird repairs you might encounter. It's not like there's a 7K transmission or 8K blown piston repair in your future. But for full disclosure, I'm coming off a combined 360K miles / 19 Years of one stuck ignition key and one 12V battery replacement combined on my 2004 Eclipse and 2014 Volt, so I probably have incredibly rose colored glasses and a strong belief that cars are simply made better now.

 

[tocohillsguy]

I'm researching the Genesis extended warranties as I plan for a possible ev purchase within the next year or two. As I read some of the Genesis extended warranties (Genesis Protection Plan - Vehicle Service Contract (GPP-VSC) and the Electrified Care EV Maintenance Wrap) I notice that they run concurrent with the warrranties included with a new car purchase, shown below.

• Basic Bumper-to-bumper - 5 yrs./60,0000
• Powertrain/battery - 10 yrs./100,000 miles
• Maintenance 3 yrs./36,000 miles

If I'm understanding this correctly, in purchasing a 10 yr/100,000 mile GPP-VSC extended warranty, you're really only paying for an extra 5 yrs./40,000 miles of Bumper-to-Bumper coverage. I was quoted a price of $4,000. In some ways, I'd pay an extra $2,000 for the Bumper-to-Bumper I would have already paid for at the time of the car purchase and another $2,000 for the extra 5 years.

In purchasing the EV Maintenance Wrap, at a cost of $3,000 for 8 yrs./96,000 I would really be paying for an extra 5 yrs./60,000 miles. Again, I would be paying twice for the first 3 yrs./36,000 miles.

Seems like a waste or am I missing something?

I think you understand it, so the answer would seem to be to purchase the extended warranty closer to the expiration of the factory bumper to bumper. However, in some cases they don't allow you to do so, and in other cases your premium jumps dramatically. I haven't attempted to run the numbers to see if there is a balance point. At the end of the day it's like every other insurance program, including your homeowners and auto insurance. They set the premium so that they make money, so the odds are you will end up spending more for it than you get out of it. However, if you want to be covered for the possibility of big repairs, it's there if you want to purchase it. It's also transferable so it might help when you sell the vehicle. For me, the uncertainty of a relatively new brand and model, coupled with my tendency to hang on to my vehicles past the expiration of the factory warranty, caused me to bite the bullet after they dropped the price to $2452. Also, I have an ICE model not an EV, which for some folks changes the calculation. Also, given current inflation, the $2452 might seem particularly cheap given the cost of repairs 6 or more years down the road. All that being said, I won't argue with those that say you are better off taking the premium and investing it. Again, the odds suggest they will come out as winners using that approach.

 

[msaunders9430]

I think you understand it, so the answer would seem to be to purchase the extended warranty closer to the expiration of the factory bumper to bumper. However, in some cases they don't allow you to do so, and in other cases your premium jumps dramatically. I haven't attempted to run the numbers to see if there is a balance point. At the end of the day it's like every other insurance program, including your homeowners and auto insurance. They set the premium so that they make money, so the odds are you will end up spending more for it than you get out of it. However, if you want to be covered for the possibility of big repairs, it's there if you want to purchase it. It's also transferable so it might help when you sell the vehicle. For me, the uncertainty of a relatively new brand and model, coupled with my tendency to hang on to my vehicles past the expiration of the factory warranty, caused me to bite the bullet after they dropped the price to $2452. Also, I have an ICE model not an EV, which for some folks changes the calculation. Also, given current inflation, the $2452 might seem particularly cheap given the cost of repairs 6 or more years down the road. All that being said, I won't argue with those that say you are better off taking the premium and investing it. Again, the odds suggest they will come out as winners using that approach.

Your price of $2452 sounds more doable. I'm viewing the $4,000 quoted to me as $2,000 for the redundancy of the first five year warranty paid for through the car purchase and another $2,000 for the additional five years. So, I'd be ok with paying $2,452. I'll try negotiating or calling other dealers. I had also considered your idea of purchase the extended warranty closer to the expiration of the original warranty.

Thanks for your response.

 

[FirstTurbo]

From my experience. Whenever you pay first and ask for your moneys worth later you always lose. I also believe they make cars really well nowadays.

1. Offset repair bills with frugal driving habits when not having fun.
2. Less rabbit starts-blinker usage-headlight usage-brake usage ETC
3. Time your stops to save brake pads/fuel use. It all adds up.
4. Go slow around turns when not having fun to save tires.
5. On any. But especially on serious repairs. ALWAYS tip your mechanic WELL in advance. These cars require super human patience and effort to fix without breaking 2 other things. Can I get an Amen from all you home mechanics?

 

[G-635798]

Your price of $2452 sounds more doable. I'm viewing the $4,000 quoted to me as $2,000 for the redundancy of the first five year warranty paid for through the car purchase and another $2,000 for the additional five years. So, I'd be ok with paying $2,452. I'll try negotiating or calling other dealers. I had also considered your idea of purchase the extended warranty closer to the expiration of the original warranty.

Thanks for your response.

Just purchased 2025 GV80 Prestige. Dealer offered the extended VSC for $1700

 

[BradBronson2259]

Just purchased 2025 GV80 Prestige. Dealer offered the extended VSC for $1700

Hello - Which dealership quoted you this? - I'm looking to purchase extended warranty for my wife's 2022 GV80 Prestige - Thank you

 

[james13]

Hello - Which dealership quoted you this? - I'm looking to purchase extended warranty for my wife's 2022 GV80 Prestige - Thank you

Which dealership, I'm looking for the same thing?