Help me buy a 2016 3.8 Ultimate AWD CPO

[RedBarn]

Hello, I'm new to the Genesis Owners forum. Thanks in advance for helping me out if you can.
I'm on the hunt specifically for a 2016 Genesis AWD Ultimate CPO Monticeto Blue/Beige coming off lease with mileage somewhere around 25K to 30K.
I'm finding very few available, maybe one or two nationwide.
It seems dealears with inventory have aquired cars at auction as carfax shows cars lived in far flung states. Some cars I notice have only one or two maintenance events listed vs every 5K miles or so. Is this a risk or does maintenance sometimes go un reported?
Can anyone tell me what loaded 2016's with 25-30K miles are going for at auction? How much they're selling for? Cars I've found online are listing for about $30K and I'd like to make a reasonable offer but don't know a good price to bargain to. $? I would also purchase a warranty wrap like Zurich or whatever and would like info on reasonable price to pay.

 

[vmi9d3]

I have also been searching for a '16 and also looking at '17/18. I have a local Hyundai dealer who has 5 CPO '16s, I think 3 are Ultimate (I personally don't want an Ultimate since it can't have Apple Carplay; I am looking at Tech package) and the dealer claims via chat they can find whatever I want since '16s are coming off lease. I believe these are going for about $27ish with about 30K miles. I plan to test this out in the next few weeks.
I found a lot on CarMax, but they won't be a CPO and most are at about $25ish with under 30K miles.
Carvana also has a lot of '16s but most are base model. Their base models are going for under $25.

I feel maintenance goes unreported, if they take it to the local jiffy lube, for example, I am pretty sure it won't get reported. I feel the only reported maintenance will be from a dealer.

If you are getting a CPO, IMO, an extra warranty isn't worth it, the CPO will cover you for a long time.

I just found your car in Alexandria, VA:
2016 Hyundai Genesis 3.8 AWD For Sale in Alexandria, VA | TrueCar

Good luck.

 

[daviderle]

If you are getting a CPO, IMO, an extra warranty isn't worth it, the CPO will cover you for a long time.

I wholeheartedly disagree, the CPO will ONLY cover powertrain issues and NOT any electronics.
if the sun roof acts up, that is $2k, the audio head unit is 3k and let us not talk about all about the fancy toys, for example the hepatic steering wheel is not considered to be part of the power train...
IMHO anything above the base trim should be a good candidate for extended warranty.
Otherwise one would be rolling the dice...

 

[RedBarn]

I just found your car in Alexandria, VA:
2016 Hyundai Genesis 3.8 AWD For Sale in Alexandria, VA | TrueCar

.
Thanks but that one has an Ivory interior vs Beige.

 

[EdP]

.
Thanks but that one has an Ivory interior vs Beige.

You may have to compromise. I think the blue is the best color that year but there are not many of them and many do have the ivory interior. Good luck though, it may be out there.

 

[vmi9d3]

I wholeheartedly disagree, the CPO will ONLY cover powertrain issues and NOT any electronics.
if the sun roof acts up, that is $2k, the audio head unit is 3k and let us not talk about all about the fancy toys, for example the hepatic steering wheel is not considered to be part of the power train...
IMHO anything above the base trim should be a good candidate for extended warranty.
Otherwise one would be rolling the dice...

Isn't the CPO 60 months/60K from in service date? Well now I think about it, for a '16 that may only be 1 year. Good point.

 

[RedBarn]

If anyone knows,
1) What is this particular car selling for at dealer auctions today?
(I think good cars are going to auction because dealers don't want to pay high price Hyundai is asking on expired leases)
2) What is a reasonable selling price?

Not car I wanted but I looked at a '16 RWD Tech listed for a whopping $35K just to see where they would go. I went through the motions and they came down to $24K with me barely asking.

 

[Mcc]

(I think good cars are going to auction because dealers don't want to pay high price Hyundai is asking on expired leases

If that fits the story you want to tell yourself, so be it but have you considered the. hundred other unsavory reasons why cars go to auction.

 

[ewang]

This site seems to be spot on when I chat with my dealer friend on what he buys cars for at auction, or wholesale (WS) on this site. VMR Used Car Values | All Makes

 

[RedBarn]

This site seems to be spot on when I chat with my dealer friend on what he buys cars for at auction, or wholesale (WS) on this site. VMR Used Car Values | All Makes

Thank you for the link to that site. If accurate it looks to be a great tool to bargin price with. Whole Sale prices much lower than I imagined.

 

[RedBarn]

If that fits the story you want to tell yourself, so be it but have you considered the. hundred other unsavory reasons why cars go to auction.

OK I get it, so recommend how to vet a CPO car with no service record at that dealer. If it did one would assume car was lease turn in at that particular dealer, which may be the least risky. Used CPO 2106's I'm finding at dealers seem to have been aquired elsewhere.
Were 2016's sold with x years of complementary service?

 

[RedBarn]

I wholeheartedly disagree, the CPO will ONLY cover powertrain issues and NOT any electronics.
if the sun roof acts up, that is $2k, the audio head unit is 3k and let us not talk about all about the fancy toys, for example the hepatic steering wheel is not considered to be part of the power train...
IMHO anything above the base trim should be a good candidate for extended warranty.
Otherwise one would be rolling the dice...

.
From this forum I gather that purchasing a wrap warranty is a good idea at a fair price.
I read the control module for the steering is located in a vulnerable spot in the undercarriage. Which warranty would cover this part which I understand isn't exactly cheap.

 

[daviderle]

IMHO this type of report represents a piece mind that is the next best thing to buying new...



Yes I knew I probably payed 5% more for my two Genesis back in December from this particular dealer, however, walking out of the lot knowing I am covered for at least the next 7 years without any worries, was worth every extra penny.

 

[ewang]

Thank you for the link to that site. If accurate it looks to be a great tool to bargin price with. Whole Sale prices much lower than I imagined.

I've spot checked it a few times with my dealer friend and most times as long as the car is in good/excellent condition, its within a few percentage points.

 

[Jtlj6745]

Good Information. Just waht is a Wrap Warrenty

 

[daviderle]

Also known as bumper to bumper, It is a warranty that will cover all electronics (ex sun roof, lane assist, auto breaking etc) for ten years /100k miles, in addition to the CPO power train coverage (=engine gear box and axle only)