price paid for extended warranty

[calbear88]

The dealer cost for a Platinum Extended Warranty is $1,050.00 according to a Hyundai finance guy. Apparently it is the same regardless of Genesis trim level. The best price I recall seen reported on this forum is $1,200.00. Might be a little higher for 2015 models.

Does anyone know the dealer cost for the 2015 genesis extended warranty, platinum with zero deductible?

 

[TOMMYJR9]

Depends on what warranty company not every dealer uses a HMA warranty but the Hyundai platinum 10yr hundred thousand miles 0deductible cost is about 1100 $1200 dealer cost... 1500 is a fair price to pay

 

[craigt]

Short version:
10/100 Hyundai Platinum w/$0 Deductible: $1199

Long version:
I didn't research the extended warranties before purchase, but thankfully, I found this site soon after.

At purchase time (about 3 weeks ago), the finance guy offered us an "Ethos" warranty (10/100 bumper to bumper, $0 deduct at the purchasing dealership) for $2500. We "talked him down" to $2100 and felt ok about it.

Found this forum soon after and realized it was a ripoff. I went back to the dealership and asked about the Hyundai Platinum warranty. He tried convincing me that the Ethos was better since it covers "the same stuff" and includes 2 years of maintenance. I asked him the price difference, which he said he could offer me at the same price.

Mentioning what I now know (but not mentioning this forum), I said I know what the dealer cost is and would offer a few hundred more than that. He said he can't go lower than $1900. He then proceeded to click something on his computer that showed the "dealer cost" of the Hyundai 10/100 Platinum warranty with $50 deductible: $1461 and change.

I informed him that I would be shopping at other dealerships, would prefer to do business with him since I bought the car there, and gave him one last chance before walking out. He wished me luck, so I walked out.

I called up 4 surrounding dealers, leaving voice mails for 3, talking with one and sending her an email. Never received an email back, but one of the others called me back. He apologized for not calling me back sooner (he was out yesterday afternoon) and was immediately up front with the dealer cost of $1050 for the Platinum 10/100 with 0 deductible, and said he prices it at $150 above cost. He said he knows people shop around and doesn't want to waste his or my time, plus wants to earn my business in the long term. And you know what? It worked, because if I buy another Hyundai, it'll be from his dealership.

<rant>
I went back to the dealership I purchased from to officially cancel the "Ethos" warranty, eager to see the finance guy's reaction. I said I found a better deal and want to cancel the warranty. He asked how much I paid (I told him) and from where (I didn't tell him). He was very curious about why I wouldn't tell him, so I asked "Does it matter?". He flubbed a bit, not expecting me to push back. I did say it's one of the 4 other dealerships in the area.

He then pulled out the Ethos contract (not mine, just a blank one), left it on his desk, and walked out to talk to someone (I seriously think I'm one of the first ones to cancel an extended warranty within 30 days because he had no idea what to do). I read the front of it under "Customer obligations", the first of which is "oil changes every 6 months or 5,000 miles". If that's the case, I would have voided the extended warranty after the first 5,000 miles since the Genesis doesn't require that.

He brought the finance director with him back to the office, and said the would match the offer I have (without checking the validity) and they would "deal with the loss later". I proceeded to tell both of them they had their chance yesterday and I already purchased it from the other dealership. They looked at each other, shook their shoulders, and said "ok, just cancel the Ethos". Did he really think I was going to give him two chances?
</rant>

I asked the finance guy at the dealership if I can share his name and dealership name. I will report back if he agrees.

Update: He agreed. PM me for details.

 

[TOMMYJR9]

Y the price was alittle more is because of the maintenance part

 

[craigt]

Y the price was alittle more is because of the maintenance part

The Hyundai Warranty they offered (which was the dealer cost they showed) didn't include maintenance.

Updated my post above to be a little more clear.

 

[TOMMYJR9]

Correct hyundai does have a separate maintenance plan available also

 

[Gunkk]

Im trying to keep this alive, anyone in Florida get a good deal on their "Hyundai " extended warranty . Thanks

Florida owner here.

Just had my dealer quote a platinum HMA warranty for my 09 Tech 4.6.

Currently have 51,500 mi on the car and 3 mos left on the original 5/60 (3rd owner).

Price is to add additional yrs/miles, HMA Platinum:

$2713 @ 3/36
$2809 @ 4/48
$2861 @ 5/60

So last one would cover me until 10/110,500.

 

[Mark_888]

Florida owner here.

Just had my dealer quote a platinum HMA warranty for my 09 Tech 4.6.

Currently have 51,500 mi on the car and 3 mos left on the original 5/60 (3rd owner).

Price is to add additional yrs/miles, HMA Platinum:

$2713 @ 3/36
$2809 @ 4/48
$2861 @ 5/60

So last one would cover me until 10/110,500.

Call a dealer in another FL city (not too close) and ask them the price, letting them know you don't live near them.

 

[palloverspec]

I think I poseted this before on this thread.

I paid $1078 for a 10 year/100,000 mile extend warranty.

This was for my 2012 R-Spec.

The cost of the extended warranty to dealer is about ~$800.00. The additional $278.00 was dealer profit.

Extended warranties are marked up tremendously for finance manager bonus as-well- as profit to the dealership.

Before you give into the delaership on the initial price, let them know you are only willing to pay about $1200.00 for the warranty.

I was very lucky in getting this warranty.

This dealer was interested in making profit and has what I consider to be the Japanese mentality where they look at making huge profit by selling for lower price but make up the difference in volume.

 

[TOMMYJR9]

Florida owner here.

Just had my dealer quote a platinum HMA warranty for my 09 Tech 4.6.

Currently have 51,500 mi on the car and 3 mos left on the original 5/60 (3rd owner).

Price is to add additional yrs/miles, HMA Platinum:

$2713 @ 3/36
$2809 @ 4/48
$2861 @ 5/60

So last one would cover me until 10/110,500.

In Florida the prices are regulated by the state they cannot discount the price it is what it is

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[TOMMYJR9]

I think I poseted this before on this thread.



I paid $1078 for a 10 year/100,000 mile extend warranty.



This was for my 2012 R-Spec.



The cost of the extended warranty to dealer is about ~$800.00. The additional $278.00 was dealer profit.



Extended warranties are marked up tremendously for finance manager bonus as-well- as profit to the dealership.



Before you give into the delaership on the initial price, let them know you are only willing to pay about $1200.00 for the warranty.



I was very lucky in getting this warranty.



This dealer was interested in making profit and has what I consider to be the Japanese mentality where they look at making huge profit by selling for lower price but make up the difference in volume.

They probably made up the difference somewhere else

 

[martyk]

When I asked the finance manager at the Hyundai dealership where I bought my Genesis for the Hyundai Platinum Warranty $0 deductible 10/100,000 mile, he said he could not match the $1,200 to $1,400 that members of this Forum have been quoted. The finance manager printed out a sheet showing his cost as $1,926. He said that this Warranty was backed by Safeco. He said that the 5 Star Wrap Vehicle Service Contract (Warranty Solutions), backed by Wells Fargo Business was a better Warranty and that they have never rejected a claim that was submitted. He said Hyundai does not have their own Manufacturers Warranty.

The finance manager quoted me $1,012 for the 5 Star Wrap Vehicle Service Contract, (Warranty Solutions), backed by Wells Fargo Business. $0 deductible 10/100,000 mile bumper to bumber. This Warranty was backed by Wachovia Warranty Corp. last year.



My question to the members: Is there any one who bought the 5 Star Wrap Vehicle Service Contract. and are they satisfied with it?

He said the Platnum Warranty $0 deductible 10/100,000 mile was backed by Safeco and Hyundai does not have their own Manufacturers Warranty.

If there is any other info please let me know.

Regards,

Marty

 

[craigt]

Get the Hyundai warranty. It's called the Hyundai Protection Plan (HPP), and get the Platinum coverage. Your dealer is playing games with you. The HPP may be backed by Safeco, but it really doesn't matter. It *is* the Hyundai branded extended warranty. It's the only one you should get.

Dealer cost is $1050. You should be able to get it for $1200-$1400. PM me for a dealer that will sell it to you for $1199 with $0 deductable.

I had the Warranty Solutions warranty for my Acura TL. I never dipped into it (sold it before the warranty kicked in) and filed for a pro-rated refund. I should be getting that in the next month or so. I can't say how good/bad it is, but the third party warranties typically have harsh conditions that you need to follow.

My dealer also showed me "their cost" - it appears they make that number up because mine showed me a different number. Remember that the finance guy/gal makes a huge bonus for selling this stuff at inflated prices.

Good luck...

 

[palloverspec]

When I asked the finance manager at the Hyundai dealership where I bought my Genesis for the Hyundai Platinum Warranty $0 deductible 10/100,000 mile, he said he could not match the $1,200 to $1,400 that members of this Forum have been quoted. The finance manager printed out a sheet showing his cost as $1,926. He said that this Warranty was backed by Safeco. He said that the 5 Star Wrap Vehicle Service Contract (Warranty Solutions), backed by Wells Fargo Business was a better Warranty and that they have never rejected a claim that was submitted. He said Hyundai does not have their own Manufacturers Warranty.

The finance manager quoted me $1,012 for the 5 Star Wrap Vehicle Service Contract, (Warranty Solutions), backed by Wells Fargo Business. $0 deductible 10/100,000 mile bumper to bumber. This Warranty was backed by Wachovia Warranty Corp. last year.



My question to the members: Is there any one who bought the 5 Star Wrap Vehicle Service Contract. and are they satisfied with it?

He said the Platnum Warranty $0 deductible 10/100,000 mile was backed by Safeco and Hyundai does not have their own Manufacturers Warranty.

If there is any other info please let me know.

Regards,

Marty

Instead of them being called the finance manager, he should be called the LIE-nance manager. Don't belive the clown. People have called Jim Ellis Hyundai and have gotten really good quotes in the $1200 to $1300 dollar range.

You can also call Annapolis Hyundai and ask for Tony. He should be able to hook you up with a good price.

They make a killing off of extended warranties. I was told by the dealer last year they pay about $800.00 dollars for the warrany. Anything more, is profit for them.

And the warranty for Hyundai is now being administered by Safeguard.

 

[martyk]

Get the Hyundai warranty. It's called the Hyundai Protection Plan (HPP), and get the Platinum coverage. Your dealer is playing games with you. The HPP may be backed by Safeco, but it really doesn't matter. It *is* the Hyundai branded extended warranty. It's the only one you should get.

Dealer cost is $1050. You should be able to get it for $1200-$1400. PM me for a dealer that will sell it to you for $1199 with $0 deductable.

I had the Warranty Solutions warranty for my Acura TL. I never dipped into it (sold it before the warranty kicked in) and filed for a pro-rated refund. I should be getting that in the next month or so. I can't say how good/bad it is, but the third party warranties typically have harsh conditions that you need to follow.

My dealer also showed me "their cost" - it appears they make that number up because mine showed me a different number. Remember that the finance guy/gal makes a huge bonus for selling this stuff at inflated prices.

Good luck...

Hi Craigt,

Thats the one he said was $1,926.

Provider:Hyundai Protection Plan,
Program: HPP VSC (National)
Coverage/Plan: Platinum-HPP Vehicle Service Contract.

 

[Mark_888]

Hi Craigt,

Thats the one he said was $1,926.

Provider:Hyundai Protection Plan,
Program: HPP VSC (National)
Coverage/Plan: Platinum-HPP Vehicle Service Contract.

That is the Hyundai extended warranty that is now administered by Safeguard. Dealer cost is about $1050. Automobile salespeople (and dealer finance people) are sometimes liars. Get over it.

Do not get any other warranty besides the HPP manufacturer warranty (which is good at any Hyundai dealer in the USA). Warranties offered only by your local dealer are virtually worthless.

 

[7i bigblock]

In Florida the prices are regulated by the state they cannot discount the price it is what it is

Yes that is what it is. I started a post a while ago ,asking about no discounts for Florida, because I live here. Ive called a number of out of state dealers on a extended warranty ,and None would provide a price. In Florida extended warranty's are --Yes treated as insurance and controlled by the by the state insurance commissioner. No discounts. Florida has a very strong dealership lobbying system in place --- there are some really strange laws here ----- most kill the little guy-- but we have a lot of sun. Thanks 7i bigblock

 

[Mark_888]

Yes that is what it is. I started a post a while ago ,asking about no discounts for Florida, because I live here. Ive called a number of out of state dealers on a extended warranty ,and None would provide a price. In Florida extended warranty's are --Yes treated as insurance and controlled by the by the state insurance commissioner. No discounts. Florida has a very strong dealership lobbying system in place --- there are some really strange laws here ----- most kill the little guy-- but we have a lot of sun. Thanks 7i bigblock

Insurance companies are required to keep a certain amount of capital on deposit to cover future claims. The difference in FL is that most states don't consider an extended warranty to be insurance. I assume that because the large number of older people in FL, a lot of them have been screwed by extended warranties where they pay up front and then the warranty company goes out of business (sometimes because the owner steals the money and leaves the country).

 

[martyk]

Hi Craigt,

Can you send the dealers name and phone number to me for Hyundai Protection Plan (HPP), and get the Platinum coverage for 1199 with $0 deductible.

Thanks,

Marty

P.S. How do we do this, do I listed my e-mail address or is there a private way to do this?

 

[dg_moore]

Hi Craigt,

Can you send the dealers name and phone number to me for Hyundai Protection Plan (HPP), and get the Platinum coverage for 1199 with $0 deductible.

Thanks,

Marty

P.S. How do we do this, do I listed my e-mail address or is there a private way to do this?

Be sure to check with Jim Ellis Hyundai in Atlanta. They carry the genuine HPP warranty and have better prices than most. That's where I bought mine, and it was a simple process. The business manager who handles warranties is Haub Cao.