More important .. CPO or lower miles?

[rhubarb9999]

I am looking at two different 4.6 cars.

One is a 2011 with 47K miles and is CPO - $22.5K

The other is a 2010 with 27K miles and not CPO - $21.8K

What is the boards opinion on the better deal .. less miles and no CPO or more miles and the extra powertrain warranty?

The 2010 was CPO'ed by the dealer but it did not sell for two months so it was auctioned and bought by an independent. This means the CPO warranty is no longer valid, but the inspection was done and the car was 'worthy'.

I normally would not worry about the extra warranty, but there are stories on here and other places about blown engines, bad head gaskets, etc.

Thoughts??

 

[Mark_888]

Inspection claims are worthless. From reading the experiences of people on this forum who have bought CPO cars from Hyundai dealers, most of them are not inspected at all, and just get a car wash. The dealers just assume the buyer will bring it back if something is wrong.

I would definitely go for the one that has the extra powertrain warranty, especially since it is a later model year and Hyundai may have fixed any previously manufacturing problems. The exception might be if you could purchase an extended warranty for the 2010, which would be good if also covers the audio system.

 

[GenesisCaptain]

One is a 2011 with 47K miles and is CPO - $22.5K

The other is a 2010 with 27K miles and not CPO - $21.8K

If it were my money, I would get the newer car with CPO. Especially since it is a $1K difference. You get more factory warranty and more warranty overall. Both are hugely valuable. Plus, you get the benefits of any minor tweaks and enhancements they put in the newer year, like suspension.

 

[landtuna]

A CPO is nothing more than an insurance policy the dealer buys ensuring against certain types of shortcomings. CPO vehicles tend to be cleaner than average but the difference in worth is an individual thing.

 

[Jimmmmbo!]

A CPO is nothing more than an insurance policy the dealer buys ensuring against certain types of shortcomings. CPO vehicles tend to be cleaner than average but the difference in worth is an individual thing.

Exactly! Right on the money.

You can get the equivalent of a CPO on any car (mostly) if you do your research and reasonable bargaining on the insurance. Plus you get to choose who does the actual warranty work, in most cases.

You're better off evaluating how the cars drive and work for yourself along with taking it to a mechanic you trust to evaluate before you decide. Dealers are counting on impulse-buying.

It's basically no different than buying a house. Would you trust the seller's report of its inspection or have one done by someone you contracted / trusted?

My 2 cents, FWIW. By the way, did you know that you can "attempt" to negotiate out of the CPO insurance if you really want the car? There is no reason you "have" to purchase the dealer's insurance, but they will obviously tell you 7 ways from Sunday that is not negotiable. Don't believe it. The warranty isn't active until the car is sold and the insurance is only then submitted to whoever the dealer is contracting with, including Hyundai.

 

[Gunkk]

Lower Miles > CPO. You can always buy your own extended warranty, but you can never undo the miles.

 

[rhubarb9999]

Lower Miles > CPO. You can always buy your own extended warranty, but you can never undo the miles.

This is my thinking. I am going with the 2010 w/27K. It is a 3 year lease return in excellent condition. It's still got over 30K and 18 months to go on the factory warranty so I can buy the extended later if I think I need it.

The interesting thing that I noticed is that it has the KDM airbag in addition to the other badges. This tells me the previous owner probably was more knowledgeable than most about the car (maybe even a member here).

Deal should be wrapped up next week. Pics to follow

 

[PMCErnie]

Have you even driven a '12, or later model? There is no way that I would buy a first-generation ('09-'11) Genesis at this point in the Genesis product cycle. Further, the '12 3.8 Genesis is only a few tenths of a second slower than the 4.6.

 

[stodge]

Sometimes CPOs may have lower financing interest rates, but that might depend on the manufacturer.

 

[GenesisCaptain]

I am curious... Of all the people (Mark_888, landtuna, Jimmmmbo!, Gunkk) who advised against a CPO in this thread, how many of you have ever owned a CPO car?

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[Mark_888]

I am curious... Of all the people (Mark_888, landtuna, Jimmmmbo!, Gunkk) who advised against a CPO in this thread, how many of you have ever owned a CPO car?

I didn't advise against the CPO. I said I would prefer the one with the longest warranty, which in this case is the CPO (unless one wants to purchase their own extended warranty for the non-CPO car).

The issue of whether a CPO car is actually inspected and refurbished by a dealer before offering for sale is not a universal question or answer. For some brands, they may make a real effort to do a thorough inspection and fix anything whatever is needed before selling it. But based on my reading of quite a few purchasers of CPO Genesis sedans on this forum, it is clear that most (or at least many) Hyundai dealers just give it car wash and the extra cost of the CPO is for warranty. After purchase, it is up to the owner to point out things that should have been fixed. I personally don't consider that to be a big deal, but I was telling OP what the reality of the Hyundai CPO experience has been on this forum since he asked about the value of the CPO inspection.

Ever since I graduated college, I have always purchased new cars. The aggravation of used cars that I experienced before I finished college probably scared me for life.

 

[Dawg]

I agree the CPO is sort of a marketing gimmick. It worked on getting me in the door and buying one.

I bought at 2011 in Jan with 30K miles. In addition to having the CPO cover drivetrain to 100K, I also purchased an extended bumper to bumper warranty to 100K for $1250 with zero deductible. And then I have the factory bumper to bumper to 60K so I feel pretty good with my set up.

So far really enjoying the vehicle

 

[brfatal]

You can get the equivalent of a CPO on any car (mostly) if you do your research and reasonable bargaining on the insurance. Plus you get to choose who does the actual warranty work, in most cases.

Non CPOs are not eligible for official Hyundai warranty extension packages. 3rd party warranties are a complete joke as far as level of service and how they handle repairs. That's coming from someone who was in the repair industry. The only warranty packages worth the paper they are printed on are manufacturer offered packages (not dealership ones since some opt for 3rd party, official manufacturer).

 

[rhubarb9999]

Non CPOs are not eligible for official Hyundai warranty extension packages.

Please provide a reference to this.

UPDATE : Just checked with Jim Ellis Hyundai and this statement is untrue.

A non-CPO car is eligible for the Platinum Care just the same as a CPO car. The price is the same.

Actually a non-CPO car can be a better deal as the warranty starts from the time of the warranty purchase, not the in service date of the car. The platinum 'wrap' for a CPO car starts from when the car was put into service.

So if I buy the 7 year/75K warranty for a 2010 with 25K miles, then it is fully covered until 100K or 2021. The same warranty on a CPO car would only be good until 2017.

 

[landtuna]

I am curious... Of all the people (Mark_888, landtuna, Jimmmmbo!, Gunkk) who advised against a CPO in this thread, how many of you have ever owned a CPO car?

I also did not advise against buying a CPO car. I just mentioned that it is up to the individual car and dealer as to what CPO actually means. For me, paying a premium for the dealer's warranty is not worth it but then I don't buy used cars from dealers.

 

[brfatal]

Please provide a reference to this.

UPDATE : Just checked with Jim Ellis Hyundai and this statement is untrue.

A non-CPO car is eligible for the Platinum Care just the same as a CPO car. The price is the same.

Jim Ellis is wrong. Any other dealership will tell you it's not eligible.

Call Hyundai of America. This is not just a Hyundai thing, this is across the board with all manufacturers. Non-CPO used car = shorter warranty and no ability to extend with the manufacturer extended plan.

 

[rhubarb9999]

You are probably right. I am sure the woman at Jim Ellis is wrong. After all, it is only her job to sell extended warranties for one of the largest dealers in the South. And even though she did look up the VIN number of the non-CPO car and explain in detail what was available for that particular car and the differences in the Standard Platinum Warranty and the CPO 'Wrap' warranty, she must be mistaken. And the fact that she did send me a price quote for both warranties with various lengths of coverage as well as a list of what is and isn't covered (identical for both plans) really means nothing.

Glad I asked the internets.

 

[Jimmmmbo!]

Non CPOs are not eligible for official Hyundai warranty extension packages. 3rd party warranties are a complete joke as far as level of service and how they handle repairs. That's coming from someone who was in the repair industry. The only warranty packages worth the paper they are printed on are manufacturer offered packages (not dealership ones since some opt for 3rd party, official manufacturer).

An interesting comment.

I never said an extended warranty was an extension of the Hyundai warranty. No one in their right mind would do that as far as I'm concerned if they want informed customers, so I'm not sure I understand the point of that statement.

As far as 3rd party warranties are a complete joke: That is an opinion, and I think most people will read that as such. That being said, I had a 3rd party warranty on a car several years ago that paid out for a failed transmission, failed head gasket and failed throttle-body gasket. Worked great for me, and none of the work was done at a dealership but at a shop of my choosing, who had no complaints.

I trust the manufacturer to guide me on how to maintain my car so that they can do warranty work without legal intervention per their stated warranty. Beyond that, they are just another company doing business to make money (which, by the way, is what a free-market economy is all about.)

 

[Jimmmmbo!]

I am curious... Of all the people (Mark_888, landtuna, Jimmmmbo!, Gunkk) who advised against a CPO in this thread, how many of you have ever owned a CPO car?

I have.

I purchased a CPO car because I researched it before I bought it. It was an '02 Acura TL and it had a shift flare. I read up and figured that it was worth the risk that the transmission would fail within the warranty period.

It did. The dealer replaced the transmission without a blink.

So, to a point in your question: Did I advise against a CPO? No. I simply said that there are alternatives to the purchase of any used car, and it's up to the well-informed buyer to figure out what works best.

 

[Mark_888]

I am curious... how many of you have ever owned a CPO car?

There is no legal requirement that the terms of the Hyundai CPO program be the same as other manufacturers that offer a CPO program. Also, some manufacturers hold their dealers to a higher standard with regard to how good of a job the dealer does with the inspection part of the CPO program. Based on many comments in this forum of people who have purchased a Genesis CPO, some dealers don't really do much of an inspection. For all practical purposes the CPO designation for a Hyundai is just an additional warranty over a non-CPO used car.