URGENTLY seeking Genesis Nation Opinion: new or used, tech or premium?

[thebells]

Yes, Landtuna is correct. Best way to determine the in-service date is call Hyundai directly, give them your VIN and they can give you the start date of the original warranty.

Not sure that StangKiller is correct, but I'm also not sure he's incorrect. Best thing to do is confirm all terms with the warranty sales rep you are working with in advance and get it in writing for your records.

 

[StangKiller]

Lol Stangkiller is correct...

 

[Jbo]

Should have found a pre-owned 2012 R spec has all the toys and very little of the problems!

 

[thebells]

Hey StangKiller, I think we are both somewhat right. I did some checking and the miles are from zero, but the term is additive; at least on the HPP plan offered by Jim Ellis Hyundai in Atlanta.

 

[Philth]

Just added Mechanical Breakdown Insurance to my GEICO policy. $250 deductible, covered to 100,000 miles, $9/month.

Covers all electrical system failures, including audio, navigation, adaptive cruise...anything installed at the factory. Cheaper than the Hyundai HPP by far.

 

[thebells]

Nice, that's a good tip. I'll have to look into that. I do see some potential downsides, but another good option.

 

[thebells]

Hey OP, So....which one did you go with?

 

[DRS]

Philith. Good info on the insurance.

 

[krazyfiend]

Just added Mechanical Breakdown Insurance to my GEICO policy. $250 deductible, covered to 100,000 miles, $9/month.

Covers all electrical system failures, including audio, navigation, adaptive cruise...anything installed at the factory. Cheaper than the Hyundai HPP by far.

Just for the sake of comparison

w/ the Geico option, 1080$ for 10yrs of coverage (let's just use the 10/100 HPP for comparison)

say Navi or some system goes out... pay 250$ deduct, after submitting claim (do they pay directly or you have to pay upfront and then be reimbursed by Geico--should state in contract addendum?)

1330$ with one claim submitted-- that seems on par with what thebells was quoting in the other warranty thread (1280$ for 10/100)-- however, that could be more for an R-Spec, I dunno.

I do see the savings if you don't plan to keep the car all that long and want coverage of those electronics past the 3/36 mark.

Am I missing something? I kind of like the fact that your VIN goes into the HMA database with the HPP and any dealer can see your terms upon a simple search-- but I will definitely investigate and see if Ameriprise via Costco has a similar mechanical breakdown option. They've been great so far about allowing a small surcharge to cover rims and other items on my past vehicles I wanted additional ins for.

 

[Philth]

Just for the sake of comparison

w/ the Geico option, 1080$ for 10yrs of coverage (let's just use the 10/100 HPP for comparison)

say Navi or some system goes out... pay 250$ deduct, after submitting claim (do they pay directly or you have to pay upfront and then be reimbursed by Geico--should state in contract addendum?)

1330$ with one claim submitted-- that seems on par with what thebells was quoting in the other warranty thread (1280$ for 10/100)-- however, that could be more for an R-Spec, I dunno.

I do see the savings if you don't plan to keep the car all that long and want coverage of those electronics past the 3/36 mark.

Am I missing something? I kind of like the fact that your VIN goes into the HMA database with the HPP and any dealer can see your terms upon a simple search-- but I will definitely investigate and see if Ameriprise via Costco has a similar mechanical breakdown option. They've been great so far about allowing a small surcharge to cover rims and other items on my past vehicles I wanted additional ins for.

1) I drive more than 10,000 miles per year. Most people that I know do as well. I anticipate reaching 100,000 miles in just over 8 years, and that's being extremely conservative. I anticipate my mileage going up at some point or another.

2) I just purchased this with my car having 12,500 on the odometer, and having owned it for 13 months.

Having purchased this late, total cost should be somewhere between $700 and $750 when it's all said and done.

I'll take my chances.

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[thebells]

Philth, Not trying to beat you up as clearly the Geico option is attractive on many levels, but I would have the following questions/concerns....

1. What happens if Geico decides to cancel this option? Are you left high and dry? Since you are paying monthly, is this a month to month agreement or are they now committed as long as you own the car or the end of the 10 yr coverage?
2. I presume this is not transferrable as it seems to be tied to your insurance policy. So no value added on resale...if you trade-in, prob not an issue.
3. What happens if you ever want to shop your car insurance coverage? You are kind of tied to them - which I suspect is what they want.
4. In the case of 1 and/or 3 above, I believe you probably can get the HPP coverage (or something similar), but I suspect the price goes up a fair amount - just a guess as I was told that 10k and 25k are price change points for the quotes I was provided.
5. Where did you get the details about what's covered? I got a quote from them just after reading your post and could not find anything but the high level marketing stuff.

Thanks

 

[wd40]

You are going to take a huge depreciation hit on the new one. Save yourself some money and buy the 2012. I think if you shop around you can beat the $28K price the dealer is wanting. Good luck.

Remember-never pay retail!

 

[Philth]

Philth, Not trying to beat you up as clearly the Geico option is attractive on many levels, but I would have the following questions/concerns....

1. What happens if Geico decides to cancel this option? Are you left high and dry? Since you are paying monthly, is this a month to month agreement or are they now committed as long as you own the car or the end of the 10 yr coverage?
2. I presume this is not transferrable as it seems to be tied to your insurance policy. So no value added on resale...if you trade-in, prob not an issue.
3. What happens if you ever want to shop your car insurance coverage? You are kind of tied to them - which I suspect is what they want.
4. In the case of 1 and/or 3 above, I believe you probably can get the HPP coverage (or something similar), but I suspect the price goes up a fair amount - just a guess as I was told that 10k and 25k are price change points for the quotes I was provided.
5. Where did you get the details about what's covered? I got a quote from them just after reading your post and could not find anything but the high level marketing stuff.

Thanks

It's an option that is renewed with every policy. I suppose GEICO can drop it, but I've never heard of an insurance carrier just dropping one aspect of a policy? Maybe it has happened though.

Of course, it is not transferable. From my own experience, transferable warranties only help will selling the car, not adding value. So the original purchaser of the extended warranty ends up losing out in the long run anyhow.

I got the details by talking to an agent. Anything that is installed at the factory is covered, with the exception of wear and tear items and abuse (brakes, fluids, etc.) They are sending me literature that is supposed to describe all of this in detail.

 

[landtuna]

You are going to take a huge depreciation hit on the new one. Save yourself some money and buy the 2012.

Depreciation is only a consideration if you are not going to keep the car for a long time (or you happen to total it within a few years of taking delivery).

I tend to keep mine a long time so I'd rather begin with something brand new. It also makes a difference if you have the money and it doesn't cause problems to spend it.

 

[DEPOTDaddy]

Congrats My2Wins,

I was at the same fork in the road, after the enlightenment of great insights and threads from the Genesis Nation, I put the 2013 in my cross hairs. Had to move quick or miss my color combo Titanium Gr. w. Tech. Pkg. saddle Int. trunk, wheels, & steering w. emblems. I pick it up this weekend 38k out the door. It was favor.

 

[plarmigan]

Congrats My2Wins,

I was at the same fork in the road, after the enlightenment of great insights and threads from the Genesis Nation, I put the 2013 in my cross hairs. Had to move quick or miss my color combo Titanium Gr. w. Tech. Pkg. saddle Int. trunk, wheels, & steering w. emblems. I pick it up this weekend 38k out the door. It was favor.

That's the EXACT combo I've been patiently waiting for (Titanium Gr. w. Tech. Pkg. saddle Int) and can't find anywhere close to the Dallas area. Where are you located? The saddle interior seems to be next to impossible to find. Very frustrating for a potential buyer!

 

[wd40]

Depreciation is only a consideration if you are not going to keep the car for a long time (or you happen to total it within a few years of taking delivery).

I tend to keep mine a long time so I'd rather begin with something brand new. It also makes a difference if you have the money and it doesn't cause problems to spend it.

I've only purchased a few new vehicles during my life, and we do keep vehicles a very long time, but I recently purchased a left over 2012 R-spec and saved about 10K over a new one. I could not justify the extra expense. Maybe in a couple of years if there are some dramatic changes I'll bite the bullet and upgrade. Cheers.

 

[DEPOTDaddy]

Washington DC Metro Area, yeah I was first told that there were 7 left in the U.S. and no more were being made at the factory due to the 2014 assembly starting next month. A few days later I was informed there is one. I hope one comes available for you.

 

[landtuna]

Just added Mechanical Breakdown Insurance to my GEICO policy. $250 deductible, covered to 100,000 miles, $9/month.

Covers all electrical system failures, including audio, navigation, adaptive cruise...anything installed at the factory. Cheaper than the Hyundai HPP by far.

I was intrigued by your policy and asked my agent about something similar and here is what I got back:

Geico does offer Mechanical Breakdown and Farmers does not. Geico’s product is NOT a replacement for a factory warrantee nor is it a full extended warrantee of repairs. It does not cover larger standard wearable parts – like an alternator - nor does it cover the cost of labor per hour. Their product is a two year term/contract and not renewable after a certain age of the vehicle.

You might want to inspect your policy closely to insure it covers the things you expect it to.

 

[Philth]

I'm still waiting on receiving an updated policy, but here is what's off of their website:

http://www.geico.com/getaquote/auto/mechanical-breakdown-insurance/

Doesn't mention anything about not covering an alternator, or other similar component. Also don't see any mention of it not paying for hourly labor?

What I do know, is that it's not a contract. I can cancel at anytime.