HPP Extended Warranty

[milind]

So what? All I am saying is that they can sell it for anything they want, and the dealer cost is less than $1500.

For one thing, no one really knows what the dealer cost is. But more importantly, it only matters if you can actually get it at a lower price. There used to be posts with dealers (with Contacts) who were offering it for a less than 2K. I called all of them and none were offering it for less than $2800. sgerald's $2571 is the lowest I have seen. I was checking for 10/120/0 though.

 

[Mark_888]

For one thing, no one really knows what the dealer cost is. But more importantly, it only matters if you can actually get it at a lower price. There used to be posts with dealers (with Contacts) who were offering it for a less than 2K. I called all of them and none were offering it for less than $2800. sgerald's $2571 is the lowest I have seen. I was checking for 10/120/0 though.

There have been (and still are) some former and current Hyundai dealer employees who post on this site, and some who know employees and therefor have inside information. So I do believe that at one time (about 2011) the dealer cost for the 10/100/0 HPP plan (or maybe it was 10/100/50) was in fact $1,050. Some people reported paying in the area of $1500 - $1800 for the HPP extended warranty back at that time.

But with all the electronics on the second generation Genesis (starting in 2015), and with inflation, etc,, I suspect the dealer cost is higher now, but probably at most $1,500 today. These prices always assume it is purchased when the car is new, or almost new, as once it gets over a year old they want more money for the extended warranty, and they may have to pay for an inspection.

HMA has engaged in activities to restrict the sale of these extended warranties on the internet or phone, telling dealers that cannot sell them to out of state customers. That's why the old sources of discounted extended warranties has mostly dried up. I would not be surprised if illegal price fixing has occurred, in an attempt to reduce competition and increase dealer profitability, since I don't know if it is legal to restrict out of state sales of extended warranties. Extended warranties are an important source of dealer profit and HMA wants their dealers to be profitable, especially when it doesn't come out their pocket.

 

[Milano]

I paid $1698 last week for my CPO Wrap. That's 10/100 on a 15 with 35k. Platinum coverage. This was in Denville NJ

 

[Mark_888]

I paid $1698 last week for my CPO Wrap. That's 10/100 on a 15 with 35k.

CPO wrap is less expensive than the HPP extended warranty, because the powertrain is already under warranty for 10/100. The HPP extended warranty is fully transferable to subsequent owners.

 

[Milano]

CPO wrap is less expensive than the HPP extended warranty, because the powertrain is already under warranty for 10/100. The HPP extended warranty is fully transferable to subsequent owners.

Thanks Mark. Is the transferability the only difference?

 

[Mark_888]

Thanks Mark. Is the transferability the only difference?

I have not read both contracts, but I assume so.

The point is that for a newly purchased Genesis (or Hyundai) there is a 10/100 powertrain warranty for the original owner only. But if the car is sold as a CPO by a dealer, then the extended powertrain warranty is restored (which means the dealer has to pay HMA or Genesis a fee for the privilege of selling it as a CPO vehicle because the warranty is from HMA and honored at all authorized dealers).

So if someone were to buy a used car that was not CPO, then purchase the HPP 10/100 extended warranty, the CPO restoration of the powertrain warranty would be redundant. So my understanding is that the CPO Wrap Warranty is designed to cover everything for 10/100, but is less cost than the regular 10/100 HPP warranty because the CPO already covers the powertrain for 10/100. The HPP extended warranty is fully transferable.

 

[sgrenald]

I paid $1698 last week for my CPO Wrap. That's 10/100 on a 15 with 35k. Platinum coverage. This was in Denville NJ

Off topic, but I worked on a couple of projects at Picatinny, years ago!

 

[sgrenald]

I have not read both contracts, but I assume so.

The point is that for a newly purchased Genesis (or Hyundai) there is a 10/100 powertrain warranty for the original owner only. But if the car is sold as a CPO by a dealer, then the extended powertrain warranty is restored (which means the dealer has to pay HMA or Genesis a fee for the privilege of selling it as a CPO vehicle because the warranty is from HMA and honored at all authorized dealers).

So if someone were to buy a used car that was not CPO, then purchase the HPP 10/100 extended warranty, the CPO restoration of the powertrain warranty would be redundant. So my understanding is that the CPO Wrap Warranty is designed to cover everything for 10/100, but is less cost than the regular 10/100 HPP warranty because the CPO already covers the powertrain for 10/100. The HPP extended warranty is fully transferable.

I called USAA the other day, and their bumper-to-bumper extended warranty was around $1500, and was good for 5 years from your date of purchase, and 100k miles on the odometer. So that's a bit less than the 7 years of the HPP warranty.

 

[sgrenald]

For one thing, no one really knows what the dealer cost is. But more importantly, it only matters if you can actually get it at a lower price. There used to be posts with dealers (with Contacts) who were offering it for a less than 2K. I called all of them and none were offering it for less than $2800. sgerald's $2571 is the lowest I have seen. I was checking for 10/120/0 though.

Mine was 10/120/0. Or it might have been 10/100/0. Didn't get that far into it.

 

[glennk]

You may want to check with other dealers. It is my understanding that any F&I person can make you an offer on a Hyundai backed service contract.

If you do decide to go third party, check with SafeGuard or Endurance. Can't remember whom manages the USAA contract, but I have a number of negative reviews.

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[Milano]

You may want to check with other dealers. It is my understanding that any F&I person can make you an offer on a Hyundai backed service contract.

If you do decide to go third party, check with SafeGuard or Endurance. Can't remember whom manages the USAA contract, but I have a number of negative reviews.

I was definitely more interested in time over mileage. I don't think my Genesis is going to be going many places. Of all the reasons to buy a car, I bought mine for my wife because I couldn't put the seat in our Infiniti back any further with the baby seat! . Kind of funny contrast, she drives this while I'm driving a 1987 Ford LTD. Hahahaha! Baby's only 5 months old so she's pretty much at home all the time.

 

[Milano]

Off topic, but I worked on a couple of projects at Picatinny, years ago!

My best man was working at Picatinny for a while when he was in the New Jersey guard. It's about an hour-and-a-half trip for me but it is a beautiful area! I called about nine dealers that particular day and they were by far the friendliest and most accommodating.

 

[sgrenald]

You may want to check with other dealers. It is my understanding that any F&I person can make you an offer on a Hyundai backed service contract.

If you do decide to go third party, check with SafeGuard or Endurance. Can't remember whom manages the USAA contract, but I have a number of negative reviews.

I think I saw one of those negative reviews. I suppose I can always use that as a negotiating tactic. Or just offer $2000 and stick to that.

 

[Milano]

CPO wrap is less expensive than the HPP extended warranty, because the powertrain is already under warranty for 10/100. The HPP extended warranty is fully transferable to subsequent owners.

https://www.hmfusa.com/Data/Teamsite/HCA/HMF/img/hpp/cpowrap-vehicle-service-contract.pdf
Mark, maybe they changed something? Unless it's hidden in fine print someplace, seems like CPOWrap is transferable as well? (I'm looking at page 5 on that link)

 

[rroyce46]

Does anyone have experience purchasing Hyundai Manufacturer's Extended warranty in Canada?

 

[Mark_888]

https://www.hmfusa.com/Data/Teamsite/HCA/HMF/img/hpp/cpowrap-vehicle-service-contract.pdf
Mark, maybe they changed something? Unless it's hidden in fine print someplace, seems like CPOWrap is transferable as well? (I'm looking at page 5 on that link)

I didn't mean to suggest that the CPOWrap is not transferable. It is just that a price is paid for CPO (by the dealer to HMA which in theory makes the CPO more expensive to the buyer) and additional price is paid for CPOWrap, and that is why CPOWrap is less cost than the price of HPP Platinum warranty.

 

[Milano]

I didn't mean to suggest that the CPOWrap is not transferable. It is just that a price is paid for CPO (by the dealer to HMA which in theory makes the CPO more expensive to the buyer) and additional price is paid for CPOWrap, and that is why CPOWrap is less cost than the price of HPP Platinum warranty.

Aha. You're right there... CPO vehicles I noticed were on average about $1200 more than non-CPO. My CPOWrap "Platinum" level and I trip up every time you say HPP Platinum warranty.

 

[sgrenald]

Thanks for the help on this. i was able to talk my dealer down from $1900 to $1150 for a 10/100,000 wrap warranty on my 2015 Genesis.

Who's your dealer??

 

[bdlsjmo]

Bob Mayberry Hyundai in Monroe NC.

 

[sgrenald]

Bob Mayberry Hyundai in Monroe NC.

I'll call them if I can't get a deal on mine (if they ever find me the car I want)