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 Buy The Extended Warranty? Yes Or No? |
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 Apr 5 2008, 04:04 PM
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Member
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Location: CT
Drives: looking to buy sonata
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QUOTE(cmhj2000 @ Apr 5 2008, 04:53 PM) This has been covered many times.
If it were me,I'd put the money in a 5 year CD.
Then at 5 years put it in a normal savings account to only be used for those repairs that an extended warranty might cover.
Odds are in 10 years you'll have change left over.
Disclosure: I used to sell these programs.
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Thanks, I will do a search for previous posts, sorry for the repost.... It's been a longgggg dayyyyy!
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Apr 5 2008, 05:05 PM
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VALUED MEMBER
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Location: Needles California, Nevada & Arizona
Drives: 2006 Hyundai Sonata LX 3.3L V6 DeepWater Blue w/ Leather
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QUOTE(noeffort @ Apr 5 2008, 12:33 PM) Got our new 2008 Sonata GLS 4cyl automatic today.
We plan on keeping it for the long haul, hopefully put on 100k+ worry free miles.
Extended warranty offered by Hyundai for 100k/10yr. for 1353 plus tax.
Go for it or not, main concern is the warranty companies go bust but the sales rep said they have been offering since 1996.. With the cost of repairs, if anything goes it probably going to cost hundreds of bucks to fix..
So, give me your valued input please...
Thanks in advance...
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Keep in mind there is no such thing as an 'Extended Warranty'. Is this 'Service Contract' the official Hyundai H.P.P?. $1353 seems very high at the time of purchase, but anything goes with these. :whistling: Congrats too!.
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Apr 5 2008, 05:47 PM
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Member
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QUOTE(MiamiLX @ Apr 5 2008, 06:05 PM) Keep in mind there is no such thing as an 'Extended Warranty'. Is this 'Service Contract' the official Hyundai H.P.P?. $1353 seems very high at the time of purchase, but anything goes with these. :whistling:
Congrats too!.
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Thanks. I'm looking to the brochure on the service contract but must have dropped it somewhere, (maybe just as well!). I did ask the guy if it was hyundai backed and the answer was no. If it was a Hyundai backed deal, I would have went for it. Third party contracts suck. I once bought one for a a sony camcorder years ago when they were like $1,200. When I needed the service the company was no longer around... I had a Ford taurus and bought a service contract and made out ok, but it had Ford all over the paperwork.
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Apr 5 2008, 06:36 PM
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VALUED MEMBER
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QUOTE(noeffort @ Apr 5 2008, 02:47 PM) Thanks.
I'm looking to the brochure on the service contract but must have dropped it somewhere, (maybe just as well!).
I did ask the guy if it was hyundai backed and the answer was no. If it was a Hyundai backed deal, I would have went for it. Third party contracts suck.
I once bought one for a a sony camcorder years ago when they were like $1,200. When I needed the service the company was no longer around...
I had a Ford taurus and bought a service contract and made out ok, but it had Ford all over the paperwork.
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Well you asked the right questions, and it is evident they were trying to pull a fast one. You can get the Hyundai HPP, administered by Fidelity (J M & A) from any Dealer within one Year for around a $1000. http://www.hyundaiusa.com/owners/carcare/s...econtracts.aspxThat same aftermarket plan administered by the same people (Fidelity) after a Year will cost around $4000. :innocent:
This post has been edited by MiamiLX: Apr 5 2008, 06:41 PM
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Apr 5 2008, 08:46 PM
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Member
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Location: CT
Drives: looking to buy sonata
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QUOTE(MiamiLX @ Apr 5 2008, 07:36 PM) Well you asked the right questions, and it is evident they were trying to pull a fast one. You can get the Hyundai HPP, administered by Fidelity (J M & A) from any Dealer within one Year for around a $1000. http://www.hyundaiusa.com/owners/carcare/s...econtracts.aspxThat same aftermarket plan administered by the same people (Fidelity) after a Year will cost around $4000. :innocent: [right][snapback]149302[/snapback][/right] Now I'm confused.... The HPP you mentioned above is backed by Hyundai? I will get the brochure of the plan they offered and post the info. I think the company that backed started with an S, definitely wasn't fidelity. 900 - 1000 may be doable for me if its reputable. I will investigate further....
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Apr 5 2008, 09:11 PM
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VALUED MEMBER
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QUOTE(noeffort @ Apr 5 2008, 05:46 PM) Now I'm confused.... The HPP you mentioned above is backed by Hyundai?
I will get the brochure of the plan they offered and post the info. I think the company that backed started with an S, definitely wasn't fidelity.
900 - 1000 may be doable for me if its reputable. I will investigate further....
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That was the Brochure & the only plan offered backed by Hyundai. You might have the handout with your Ownwer Manual papers. It actually used to be Hyundai. Now Fidelity, one of those Aftermarket Companies who have been in Business longer than 10 Years (if you can believe it) is the "HMO" like administrator of the HPP. Always a bad sign when your dealer tries to sell you a Service contract that isn't accepted at other Hyundai Dealers. :w00t:
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Apr 5 2008, 09:12 PM
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Newbie
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:beer: Speaking from experience, the "extended warranty" as they call it is worth nothing until you have exhausted the entire factory warranty. We purchased it under the impression that it covers items broken due to other causes than just defects, which is false. The finance mngr told us that it covers EVERYTHING. total B.S. We plan on keeping my wife's 07 accent for at least 5 years, but may trade it sooner than that, so is no use for me, so we cancelled and our bank will be getting the check soon for around $1200. I second the advice to invest, put in a CD, and if/when stuff breaks after the warranty, you can cover it. :whistling:
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Apr 5 2008, 09:31 PM
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Just hangin' out...
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QUOTE(MiamiLX @ Apr 5 2008, 05:36 PM) You can get the Hyundai HPP, administered by Fidelity (J M & A) from any Dealer within one Year for around a $1000. http://www.hyundaiusa.com/owners/carcare/s...econtracts.aspxThat same aftermarket plan administered by the same people (Fidelity) after a Year will cost around $4000. :innocent: [right][snapback]149302[/snapback][/right] Miami Have you called a dealer to get a quote on this? $4000 is pretty high for something that is still under factory warranty. We sell them to lots of folks for a lot less. Yes, after they have owned their car for a few years. They only cover what is called "wrap" coverage. Meaning Hyundai covers the powertrain for 10/100 and the service contract covers the other minor/major stuff. I could probably offer the same "wrap" coverage for $1500 or so. Maybe less. Just a guess. Noeffort as long as your car is under factory warranty you can buy an extended service contract (wrap coverage) for very little money AND you will not need an inspection to get said coverage. Just make sure you buy from a reputable dealer. We only offer one from Zurich Company. It is the only one we have sold for 15 years and I know will be the only one for the next 15. Want me to put together a quote for your comparision? Be glad to. If you like the cost and the coverage I'll even sell it to you. For a :w00t: slight handling fee. BTW as I stated above...save your dough. But I didn't tell you that AGAIN. :innocent:
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Apr 5 2008, 09:57 PM
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VALUED MEMBER
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Location: Needles California, Nevada & Arizona
Drives: 2006 Hyundai Sonata LX 3.3L V6 DeepWater Blue w/ Leather
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QUOTE(craigbrooks @ Apr 5 2008, 06:31 PM) Miami Have you called a dealer to get a quote on this?
$4000 is pretty high for something that is still under factory warranty. We sell them to lots of folks for a lot less. Yes, after they have owned their car for a few years. They only cover what is called "wrap" coverage. Meaning Hyundai covers the powertrain for 10/100 and the service contract covers the other minor/major stuff. I could probably offer the same "wrap" coverage for $1500 or so. Maybe less. Just a guess.
Noeffort as long as your car is under factory warranty you can buy an extended service contract (wrap coverage) for very little money AND you will not need an inspection to get said coverage. Just make sure you buy from a reputable dealer. We only offer one from Zurich Company. It is the only one we have sold for 15 years and I know will be the only one for the next 15.
Want me to put together a quote for your comparision? Be glad to. If you like the cost and the coverage I'll even sell it to you. For a :w00t: slight handling fee.
BTW as I stated above...save your dough. But I didn't tell you that AGAIN. :innocent:
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Well yes Craig, there have been many discussions here on Service Contracts, aka extended Warranty. We have talked about this before too. If your Sonata is over a Year old, or with a certain # of Miles, you can't get the official coverage. However you always can buy an Aftermarket policy from someone. This is Delray Hyundai selling an unofficial Fidelity HPP Policy. Notice the new lower Price for an 06 with 10- 25 K http://www.officialhyundaiwarranty.com/car...dPlus&List=3214
This post has been edited by MiamiLX: Apr 5 2008, 09:59 PM
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