XBOHDPuKC
Registered Member
- Joined
- Apr 2, 2010
- Messages
- 563
- Reaction score
- 101
- Points
- 43
- Location
- Houston, TX
- Genesis Model Year
- 2025
- Genesis Model Type
- Genesis G90
I'm not sure if this is a well-known fact, however I was unaware of the following and grateful for the information the dealer provided.
Quite a few of us on here purchase HPP - Hyundai Protection Plan, which covers mechanical breakdown of our Genesis(es?) beyond the usual Hyundai warranty. What's not widely known / understood, is that the plan can be cancelled at any time for any reason. However full refund only will be paid within 45 days of the contract signing. After that the refund is calculated on the prorated basis blah blah blah. Nonetheless, if you have sold your car prior to the contract expiration and did not transfer the contract (in case of selling the car to a deals as a trade-in, you can't transfer the contract), you SHOULD send a cancellation request to the HPP Administrator and you might be due quite a significant refund. Again, it's calculated on a prorated basis, i.e. if your contract was for 10 yr / 100,000 miles, your refund will be the less of
PURCHASE PRICE * (CURRENT MILEAGE / 100,000)
PURCHASE PRICE * (MONTHS since CONTRACT EFFECTIVE DATE / 240)
less any claims paid under contract
less $50 cancellation fee.
Quite a few of us on here purchase HPP - Hyundai Protection Plan, which covers mechanical breakdown of our Genesis(es?) beyond the usual Hyundai warranty. What's not widely known / understood, is that the plan can be cancelled at any time for any reason. However full refund only will be paid within 45 days of the contract signing. After that the refund is calculated on the prorated basis blah blah blah. Nonetheless, if you have sold your car prior to the contract expiration and did not transfer the contract (in case of selling the car to a deals as a trade-in, you can't transfer the contract), you SHOULD send a cancellation request to the HPP Administrator and you might be due quite a significant refund. Again, it's calculated on a prorated basis, i.e. if your contract was for 10 yr / 100,000 miles, your refund will be the less of
PURCHASE PRICE * (CURRENT MILEAGE / 100,000)
PURCHASE PRICE * (MONTHS since CONTRACT EFFECTIVE DATE / 240)
less any claims paid under contract
less $50 cancellation fee.
