Hyundai Forums banner

1 - 20 of 41 Posts

·
Registered
Joined
·
397 Posts
Discussion Starter #1
Hi folks, I just purchased a 2017 Sonata Sport 2.0T. I was offered the "Platinum" extended contract that basically gives bumper to bumper coverage to 10yr/100K miles. I was quoted $2200, a "special deal" for the contract. I have friends in the car business and am told that there is a huge markup on these contracts, in the neighborhood to 100%

What are others paying for the contracts?

Thanks,

John
 

·
Registered
Joined
·
6,734 Posts
First - decide if you are even interested in it.

Most cars have a 3/36 warranty and 5/60 PT. Hyundai has 5/60 BTB and 10/100K PT. Will you even keep the car over 5-years/60K miles where you could use it?

Second - I would only get it if it is the Hyundai warranty and not a 3rd party one.

I was offered a 3rd party one for $1200 and I think it dropped pretty quickly to the employee price of $900 and I still declined.

I would expect the OEM to be negotiable down to maybe $1000-$1500.

Finally, can you DIY and/or do you want to?

I doubt I would have to spend $1500 in PARTS on my car between 60K and 100K miles. I could pretty easily spend that in repairs if I had all the work done at the dealer. Also:

hello - new owner, a few ??s for ya! - Toyota Nation Forum : Toyota Car and Truck Forums - you only need to look at Reply #8, and that is for Toyota, but the same CONCEPTS apply.
 

·
Registered
Joined
·
6,734 Posts
Yeah, it is hard to say.

Before I got a Hyundai I mostly had Fords and they tend to have sensor problems, fuel pumps, etc - all things not covered by the powertrain warranty.

Hyundai for the most part seems to either have zero issues or the engine implodes - which is covered by the PT warranty so no benefit in the B2B extension.
 

·
Registered
Joined
·
397 Posts
Discussion Starter #5
Hi tiger & cdelena,

Thanks for your replies. I posted a reply yesterday but it does not appear...I guess because I'm a "noob"....? Not sure if this one will post or not......

Anyway, thanks for taking the time to reply, I'll check other Sonata sites and see if I am allowed to post there.

Best regards,

John
 

·
Registered
Joined
·
6,734 Posts
It should have shown up - might have been a glitch with the forum or your ISP or your browser.

It wouldn't make much sense to have a forum that only allowed you to post once. This one does require a minimum number of replies before you can post links or images, and I have seen some where you had to post in an introductions thread or reply to X number of threads before you could create a new one.
 

·
Registered
Joined
·
11 Posts
We just purchased a 2017 Sonata 2.0T Sport this week, and the finance guy initially quoted us a price of around $2250. When I declined and basically told him that I wasn't going to get it regardless of the price, he dropped down to $1200 and asked if I'd reconsider. So I'm guessing there's considerable room for negotiation if you really want it.

For me, with a 5 year / 60K warranty already, I didn't really see the need, as I doubt we'll keep the car much longer than that anyway. HTH!
 

·
Registered
Joined
·
274 Posts
We just purchased a 2017 Sonata 2.0T Sport this week, and the finance guy initially quoted us a price of around $2250. When I declined and basically told him that I wasn't going to get it regardless of the price, he dropped down to $1200 and asked if I'd reconsider. So I'm guessing there's considerable room for negotiation if you really want it.

For me, with a 5 year / 60K warranty already, I didn't really see the need, as I doubt we'll keep the car much longer than that anyway. HTH!
I'm not sure about the Hyundai specific extended warranty, but I believe you can always opt to extend your warranty before the factory warranty expires. I'm considering it with my 2013 Santa Fe. I bought it last week with 45k miles, and the warranty is only good for 60k, which will happen fairly quickly unfortunately...
 

·
Registered
Joined
·
397 Posts
Discussion Starter #9
I've done a bit more research and it seems that Hyundai USA no longer offers extended warranties/service contracts (used to be HPP...Hyundai Protection Plan). In the past I've bought extended contracts on new trucks (Ford, Ram & GMC) and so far the covered repairs have paid for the contract price plus some, so I'm in the black overall. However the past policies have been by the actual manufacturer, not third party as offered by my local Hyundai dealer.

I think I'll just keep up the required maintenance and rely on the 5yr/60K mfg warranty.
 

·
Registered
Joined
·
6,734 Posts
Didn't know HUSA no longer offered the warranty - although I was offered a third party one, and the one site selling them online has been unavailable for a couple of years.

Also - before we stir up a hornets nest, there are two different policies (at least with Toyota):

The extended warranty/service contract is a repair agreement. The service agreement is essentially pre-paying for oil and filter changes and routine maintenance - I usually don't recommend either, but especially the latter as they are usually priced HIGHER than just buying the individual services as needed.
 

·
Registered
Joined
·
397 Posts
Discussion Starter #11
Weird, HUSA still shows HPP plans on the website. (https://www.hmfusa.com/hpp-overview) I think I'll email them and see if they are still offered through their dealers. The dealer where I bought the Sonata 2.0T claims that only third party plans are offered. I did get a free oil change coupon (6 services) at the time of purchase. They offer it as a stand alone for $89, for about $15 a pop. Not a bad deal, as I looked at the hard to reach filter on the 2.0T...looks like part of the belly pan must be removed to access it....??
 

·
Registered
Joined
·
6,734 Posts
Probably depends on the dealer - they almost always make money on the third party warranties and try to push those.

I had one time that I threatened to walk away from a Ford purchase unless it had a Motorcraft warranty and the dealer suddenly "found an old application form" for me. After that, I stopped asking at the dealers and bought the Ford warranty online from a different dealer.

looks like part of the belly pan must be removed to access it....??
Lots of newer cars are doing this - better aerodynamics under the car and hopefully 0.2 to 0.3 extra MPG. Personally, I would remove the filter cover one time and store it in my garage, but that's just me.
 

·
Registered
Joined
·
11 Posts
I'm not sure about the Hyundai specific extended warranty, but I believe you can always opt to extend your warranty before the factory warranty expires. I'm considering it with my 2013 Santa Fe. I bought it last week with 45k miles, and the warranty is only good for 60k, which will happen fairly quickly unfortunately...
Yeah, the finance guy told us that was an option, but said that the longer we waited, the higher the price would be. Not sure I really buy that, this isn't life insurance we're talking about here. But we'll keep our options open, and if the car warrants an extended warranty then we'll go for it.

Another thing they mentioned was that they'll give you a prorated refund if/when you sell the car, so if you buy the 10 year warranty and sell it at year 7, you've got some $$ coming back to you.
 

·
Registered
Joined
·
6,734 Posts
Unfortunately, I am familiar with Ford extended warranties and not Hyundai extended warranties.

With Ford, you only have 3-years B2B, and you can purchase the extended warranty any time before the B2B expires, but it is typically $100 more if you buy it after the car has 12-months/12K miles - not sure how Hyundai works.

Often, you can get either a pro-rated or a full refund of the warranty, but only if you have NEVER used it - so for example, there might be times when a 9-year old car needs a $200 warranty repair, that you would be money ahead paying for the repair yourself and getting a refund on the warranty.
 

·
Registered
Joined
·
1,138 Posts
Big mark up on Factory Extended Warranties, all dealers have a lot of room to deal.

Im new to Hyundai and a high mileage driver doing about 30-35 thousand a year so I usually go for the extended warranty as long as it is manufacturer , especially with all the electronics on new cars. My dealer tried to charge me $ 2,250 for a 120,000 / 12 yr Hyundai USA warranty, I ended up getting it for $ 1,500 and Im sure they still made $. For me its piece of mind that for the next 4-5 yr 120,000 miles all Ill have is wear items (tires, oil and filter, belts and brakes) to replace and most of that I can manage.
 

·
Registered
Joined
·
397 Posts
Discussion Starter #16
Big mark up on Factory Extended Warranties, all dealers have a lot of room to deal.

Im new to Hyundai and a high mileage driver doing about 30-35 thousand a year so I usually go for the extended warranty as long as it is manufacturer , especially with all the electronics on new cars. My dealer tried to charge me $ 2,250 for a 120,000 / 12 yr Hyundai USA warranty, I ended up getting it for $ 1,500 and Im sure they still made $. For me its piece of mind that for the next 4-5 yr 120,000 miles all Ill have is wear items (tires, oil and filter, belts and brakes) to replace and most of that I can manage.
I take it you were able to buy the Hyundai USA factory backed contract? The dealer I bought from offered only a third party product (by Millennium Automotive Protection). They gave me the impression that Hyundai no longer offered the HPP plans. I do realize there is a lot of room in these products, both factory & third party. I've bought them on my last three new trucks and ended up paying a lot less than the first quoted price.
 

·
Registered
Joined
·
6,734 Posts
As I mentioned, there is a lot of markup/margin on the factory warranties, but there is even more markup on the third-party ones (partly b/c they are less likely to ever pay out anything to the customer). Therefore dealers tend to push the 3rd-party a lot harder.

Not uncommon for Ford dealers to lie and say the Ford plan isn't offered anymore, or that they don't have any of the application forms for the Ford plans.

However, note that you neither have to buy from the selling dealer nor at the time of purchase.

The last two Ford warranties I bought, I got online from a dealer in Minnesota. Honda, I bought from a dealer in Massachusetts. Toyota dealers complained, so you can't buy Toyota warranties online out of state anymore. There are workarounds - i.e. you can buy from any dealer in-state, even online, you can use a proxy - i.e. have a relative in the state buy the warranty for you in person in your name. Depending on distance, it COULD be worth it to fly/drive there and buy in person. You MIGHT be able to buy out-of-state via snail mail, but I'm not positive of that.

I'm not sure how Hyundai handles it
Hyundai Extended Warranty | Hyundai Protection Plan
Hyundai Extended Warranty | Hyundai Protection Plan
Delray Hyundai in FL was selling them online, their website(s) has been saying closed through Feb for a couple of years now, and nobody else comes up in a Google search. I suspect they got a C&D letter from Hyundai corporate, but you might be able to buy from them over the phone, or you can almost certainly buy in person from any local dealer in your state.
 

·
Registered
Joined
·
1,138 Posts
Packard8, Yes I purchased the factory Hyundai warranty (shows up on their website with suggested pricing, but there is always a lot of room to deal). Just as Tiger-Heli posted many dealers try to sell 3rd party products due to profit margins and they are inferior. Almost every car and motorcycle Ive purchased in 45 yr had the availability to add a extended factory warranty. IMO if you feel ot is worth it to you to have the added warranty protection only go with the factory product, they will be honored at all dealers nationwide, in most cases give you exactly the same coverage as the original new car warranty. In the event of a repair it is covered at the dealer no problems.

Recent example from my last car which was a 2012 MBZ C250, i got it as a used dealer demo with 5500 miles on it and 13 months old, saved $ 15,000 off new MSRP. The car was what MBZ called a CPO (certified pre owned) and was available with a factory extended warranty 8 yr 135,000 mile is what i got. At about 55,000 the chrome on the steering wheel bezel started to lift, it was replaced N/C , at about 60,000 mile the sunroof started to make some noise opening, it was replaced N/C, at 85,000 I broke a transmission mount, replaced N/C, at 110,000 the turbo and the drivers seat started to act up (at least $ 2,100 job) got a new turbo and new seat motor and frame at No Charge, at 120,000 high pressure pump for injectors was replaced ($1500.00 job) at no charge. I paid about $ 2300 for the extended warranty so for the piece of mind and the eventual savings it was well worth it.

Now on the other hand my Infiniti G37s coupe had the 100,000 mile extended warranty and the only thing I used it for was at 65000 miles I got the drivers seat cover replaced because it had stretched and had wrinkles in it, I sold the car at 97,000 miles so i probably lost a little on paying for it.

More than anything is you need to decide if the piece of mind is worth it to you to know that there will be no major repair expenses for X amount of time. Hyundai has the best overall warranty in the business 10 yr /100000 on the major drive train but on these newer cars with all the electronics its more likely that a ECU, switch, sensor or screen etc will go out than a major drive line problem.

Hyundai Factory Warranties can be purchased from any dealer at any time before the original warranty expires, but they will cost more the more miles on the car when you buy it. If your dealer wont bargain, call around other dealers will and it can be done over the phone or on line. This is the factory website info and suggested pricing Packard8, Yes I purchased the factory Hyundai warranty (shows up on their website with suggested pricing, but there is always a lot of room to deal). Just as Tiger-Heli posted many dealers try to sell 3rd party products due to profit margins and they are inferior. Almost every car and motorcycle Ive purchased in 45 yr had the availability to add a extended factory warranty. IMO if you feel ot is worth it to you to have the added warranty protection only go with the factory product, they will be honored at all dealers nationwide, in most cases give you exactly the same coverage as the original new car warranty. In the event of a repair it is covered at the dealer no problems.

Recent example from my last car which was a 2012 MBZ C250, i got it as a used dealer demo with 5500 miles on it and 13 months old, saved $ 15,000 off new MSRP. The car was what MBZ called a CPO (certified pre owned) and was available with a factory extended warranty 8 yr 135,000 mile is what i got. At about 55,000 the chrome on the steering wheel bezel started to lift, it was replaced N/C , at about 60,000 mile the sunroof started to make some noise opening, it was replaced N/C, at 85,000 I broke a transmission mount, replaced N/C, at 110,000 the turbo and the drivers seat started to act up (at least $ 2,100 job) got a new turbo and new seat motor and frame at No Charge, at 120,000 high pressure pump for injectors was replaced ($1500.00 job) at no charge. I paid about $ 2300 for the extended warranty so for the piece of mind and the eventual savings it was well worth it.

Now on the other hand my Infiniti G37s coupe had the 100,000 mile extended warranty and the only thing I used it for was at 65000 miles I got the drivers seat cover replaced because it had stretched and had wrinkles in it, I sold the car at 97,000 miles so i probably lost a little on paying for it.

More than anything is you need to decide if the piece of mind is worth it to you to know that there will be no major repair expenses for X amount of time. Hyundai has the best overall warranty in the business 10 yr /100000 on the major drive train but on these newer cars with all the electronics its more likely that a ECU, switch, sensor or screen etc will go out than a major drive line problem.

Hyundai Factory Warranties can be purchased from any dealer at any time before the original warranty expires, but they will cost more the more miles on the car when you buy it. If your dealer wont bargain, call around other dealers will and it can be done over the phone or on line. There is a factory website info and suggested pricing just search Hyundai Factory extended warranty and go to the Hyundai site, it lists plans and pricing etc. The dealers have a lot of room to discount , at least 25% or more. I got mine for $ 1500 and the website says it is $ 1951 for the 100,000 mile, they now offer 120,000 mile / 12yr and that is what I got for $ 1500 Hyundai Extended Warranty | Hyundai Protection Plan[/url] ) the dealers have a lot of room to discount , at least 25% or more. I got mine for $ 1500 and the website says it is $ 1951 for the 100,000 mile, they now offer 120,000 mile / 12yr and that is what I got for $ 1500
 

·
Registered
Joined
·
274 Posts
Deja vu!
 

·
Registered
Joined
·
397 Posts
Discussion Starter #20
Thanks for the info zaran. I didn't see any pricing on the website (https://www.hmfusa.com/hpp-mechanical-Coverage?hpp-mechanical-Coverage=vcsoo-protection) I also called the 3 local dealers and only one said they "could get" the HPP contract and will get back to me. The others sell only their 3rd party product. As mentioned, I have purchased Factory extended warranties on my last 3 new trucks. There must be a lot less profit in the HPP product compared to the 3rd party.

If you don't mind, where did you buy your Hyundai? I might give that dealer a call. My last Dodge contract I bought from a dealer in Iowa, even though the truck was bought in California.
 
1 - 20 of 41 Posts
Top