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Hyundai Genesis Forum: 20 year/200,000 mile warranty
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  #1  
Old 08-21-2010, 10:30 PM
sawagw sawagw is offline
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Default 20 year/200,000 mile warranty

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I am definitely purchasing a new 2010 Genesis this week. I am down to two dealers. One is offering the Genesis with the Hyundai Circle price. The other does not participate in the Hyundai Circle but they are offering a 20 year/200,000 mile powertrain warranty with purchase. Their total price is $700 higher and they are badging the car and putting on mud guards which I value at $100. So basically trying to decide if the warranty is worth about $600. The warranty requires a $100 deductible on all services after the factory warranty expires and it is not transferrable if I sell it. The warranty is through a third party so I am a little skeptical on claims actually being paid. I have seen other dealers in other states offering this same warranty. Does anyone have any experience with this warranty and do you think it is worth the extra cash?
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Old 08-22-2010, 12:30 AM
Mark_888 Mark_888 is online now
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Default Re: 20 year/200,000 mile warranty

Third Party warranties are not as good as extensions of the factory warranty. But are you really considering keeping the car more than 10 years?
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Old 08-22-2010, 01:12 PM
sawagw sawagw is offline
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Default Re: 20 year/200,000 mile warranty

I am more concerned with the mileage than the years. I put on 25k per year.
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Old 08-22-2010, 01:18 PM
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Default Re: 20 year/200,000 mile warranty

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Originally Posted by Mark_888 View Post
Third Party warranties are not as good as extensions of the factory warranty. But are you really considering keeping the car more than 10 years?
Perhaps he's more concerned with the miles rather than the years. I drive 25-30K miles a year, sometimes more, so it doesn't take too long to hit the 100K mile mark when you drive that much. I've rarely kept a vehicle longer than 8-10 years, but I've kept many vehicles until the 200K mile range, and a few into the 300K mile range.

I'm certainly hoping my Genny makes it to 200K miles (currently at 50K with about a month to go before I hit 2 years of ownership).

I'm generally not a guy that pursues extended warranties, but an extra 100K miles of protection for $600 would be tempting as the likelyhood of a vehicle needing at least a $600 repair by the 200K mile mark seems reasonably high since even relatively minor repairs can quickly get into the hundreds of dollars. I'd be wary of the 3rd party, and check them out as much as possible, especially to understand exactly what is covered and what the procedures are for filing claims. I've only ever purchased a single extended warranty on a vehicle (on a certified used vehicle that already had almost 20K miles) and I needed to use the 3rd party warranty twice, once for an A/C repair and another for the transmission. The two repairs together were almost $2000 and I had no real problem with the warranty claim, but I did have to pay for the repair out of pocket and it took several weeks to get the money back. They also required a "pre-approval" of the repair amount which was somewhat of a pain, but in the end, they covered both repairs at 100% exactly as advertised, it was just more annoying than a factory warranty claim.
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Old 08-22-2010, 02:06 PM
ASHDUMP ASHDUMP is offline
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Default Re: 20 year/200,000 mile warranty

My girlfriend purchased an extended warrenty for $1200 on her 2006 Kia Sportage. We have a $50 deductible and the dealer we get the service done puts EVERYTHING through our extended warrenty provider. She's had a total of $1300 bucks tallied on it so we're up $100 minus the deductible.

We have a really good Kia dealer/service department where I live. They go out of their way to write off all repairs on that extended warrenty... even the stuff that doesn't qualify for it. I actually get my Genesis oil changes done there...
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Old 08-22-2010, 02:34 PM
ctrcbob ctrcbob is offline
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Default Re: 20 year/200,000 mile warranty

If an "extended warranty" is through the manufacturer, (I.E. Hyundai), that is good and you can trust them. If the "extended warranty" is an aftermarket warranty, by an aftermarket company, which you see advertised every day on TV, Radio and XM, they are not worth the paper they are printed on, even if you purchase the warranty at your dealer. You read about these extended warranties in www.ripoffreport.com every day. They always find a way to decline coverage, even though they had not gone out of business yet, and they always go out of business. If you must get an extended warranty, make sure it says it is from the manufacturer, and not an aftermarket company. In Hyundai's case, because their factory warranty is already so good, I don't think they even offer an extended warranty though I could be wrong on that.

They are not GIVING you that extra $700 (or $600) warranty. That is an extra profit to them.

In addition, if it is a "Dealer Warranty", that has nothing to do with either a manufacturer or an aftermarket warranty, they still get you in the long run.

First, they count on you either selling the car before the extra warranty runs out or, you crash the car and no longer own it.

Second, even if you keep the car, somewhere in their "contract" they have listed the things you have to to to maintain the car to keep the warranty in effect, and with a dealer warranty, if the dealership gets sold, or they go out of business, you are left holding the bag.

Lastly, we have a KIA Dealer nearby, who advertised that you would get FREE TIRES FOR LIFE. (A nearby Toyota Dealer advertised the same thing). However, a friend of mine who bought their KIA found out that to get those free tires for life, he was required to have a four wheel alignment EVERY 5000 MILES. Paying for those alignments every 5000 would be enough to pay for many more tire changes than the "free tires for life".
Later, that KIA dealer was sold, and the new owners refused to honor the "free tires for life" of those who purchased from the original dealer. Big brew-ha-ha in this area about this.

My advice. Buy from the cheaper dealer.
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  #7  
Old 08-22-2010, 07:17 PM
ctrcbob ctrcbob is offline
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Default Re: 20 year/200,000 mile warranty

Quote:
Originally Posted by ctrcbob View Post
If an "extended warranty" is through the manufacturer, (I.E. Hyundai), that is good and you can trust them. If the "extended warranty" is an aftermarket warranty, by an aftermarket company, which you see advertised every day on TV, Radio and XM, they are not worth the paper they are printed on, even if you purchase the warranty at your dealer. You read about these extended warranties in www.ripoffreport.com every day. They always find a way to decline coverage, even though they had not gone out of business yet, and they always go out of business. If you must get an extended warranty, make sure it says it is from the manufacturer, and not an aftermarket company. In Hyundai's case, because their factory warranty is already so good, I don't think they even offer an extended warranty though I could be wrong on that.

They are not GIVING you that extra $700 (or $600) warranty. That is an extra profit to them.

In addition, if it is a "Dealer Warranty", that has nothing to do with either a manufacturer or an aftermarket warranty, they still get you in the long run.

First, they count on you either selling the car before the extra warranty runs out or, you crash the car and no longer own it.

Second, even if you keep the car, somewhere in their "contract" they have listed the things you have to to to maintain the car to keep the warranty in effect, and with a dealer warranty, if the dealership gets sold, or they go out of business, you are left holding the bag.

Lastly, we have a KIA Dealer nearby, who advertised that you would get FREE TIRES FOR LIFE. (A nearby Toyota Dealer advertised the same thing). However, a friend of mine who bought their KIA found out that to get those free tires for life, he was required to have a four wheel alignment EVERY 5000 MILES. Paying for those alignments every 5000 would be enough to pay for many more tire changes than the "free tires for life".
Later, that KIA dealer was sold, and the new owners refused to honor the "free tires for life" of those who purchased from the original dealer. Big brew-ha-ha in this area about this.

My advice. Buy from the cheaper dealer.
Was just reading in the local Orlando Newspaper;
"When Does Prepaid Pay Off"? Under "Extended Warranties" it says:

"Extended warranties, also called service contracts, mean you are essentially prepaying for a repair. They are a source of huge profit for retailers and seldom a good deal for consumers, consumer advocates agree. Consumer Reports, for example, has long advised shoppers to just say no".

In addition, I listen to Clark Howard, who also advises people to pass on extended warranties (service contracts). You can check him out on his radio show, on TV's HLN, or on www.clarkhoward.com as he gives good advice.
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Old 08-22-2010, 09:35 PM
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Default Re: 20 year/200,000 mile warranty

Quote:
Originally Posted by ctrcbob View Post
Was just reading in the local Orlando Newspaper;
"When Does Prepaid Pay Off"? Under "Extended Warranties" it says:

"Extended warranties, also called service contracts, mean you are essentially prepaying for a repair. They are a source of huge profit for retailers and seldom a good deal for consumers, consumer advocates agree. Consumer Reports, for example, has long advised shoppers to just say no".

In addition, I listen to Clark Howard, who also advises people to pass on extended warranties (service contracts). You can check him out on his radio show, on TV's HLN, or on www.clarkhoward.com as he gives good advice.
I generally concur with this advice 100%, but the warranty in question in this thread is more questionable than most because it provides 100,000 miles worth of warranty for only an additional cost of only $600 over the other dealer. I've never seen such a long warranty offered for a price that low.

Still, if I were in your situation, I would ask them what their price is with the warranty removed. That way you'll know what they're really charging you for the warranty (it's not an accurate assessment to compare their price to another dealer). My guess is that they should be able to knock off another $1,000 or more without the warranty. I'd take whatever the best deal is, and save the money just as suggested above.
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Old 08-23-2010, 12:13 AM
sawagw sawagw is offline
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Default Re: 20 year/200,000 mile warranty

I do not think the dealer has any additional profit in this deal over the other deal. I know the guy personally, he used to work for my wife years ago and he told me he was losing $100 on the deal. I am making him compete with a Hyundai circle deal and he does not qualify for the $250 circle rebate. I know they are buying these warranties in bulk so there is a discount there and the fact that they are non-transferrable also lowers their cost so $650 seems right. I am going to get him to send me the warranty contract so I can go over it with a fine tooth comb before I make any final decision. The two other factors that are pro for this dealer in addition to the warranty are the fact that he is the closest dealer to me and I would most likely use him for service while the other dealer is over an hour away. Since I am not trading in a car that might be a logistical challenge. The bigger issue is they have the color combo I want (black/black) where the cheaper guy is black/cashmere. I know there are dealers about two and a half hours away with black/black but that is just another bigger logistical headache.
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Old 08-23-2010, 02:29 PM
ctrcbob ctrcbob is offline
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Default Re: 20 year/200,000 mile warranty

Quote:
Originally Posted by sawagw View Post
I know they are buying these warranties in bulk so there is a discount there.
RED Flag! Whoop Whoop Whoop. Dive Dive Dive.
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Roswell, NM (Alien Central)


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10 SHO Ecoboost Twin Turbo
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