Extended Warranty

Like to hear opinions about the 5 year extended warranty offered to me
at time of purchase from the stealer. It's for my '09 Sonata Limited.
IIRC it was around $1600.00

Thanks group.

 

I should add that I plan on keeping the car 7-8 years. However one
doesn't know for sure but I might like something newer sooner, so...

 

Well - why would you even consider an extended warranty on a car that comes
with a 10 year 100,000 mile warranty? Extended warranties - even for cars
without such coverage, are a waste of money. Hope you did not buy it.

 

It's a great deal. The dealer will make about $1500 profit and if you are
really fortunate, you may some day get the warranty company to pay a few
bucks towards a repair bill (after you pay the deductible, of course)

Put that $1600 in a money market and use it toward repairs if needed. I
only know of one person that made out on an extended warranty and that was
on a Volvo that spent a lot of time in the shop.

 

No I did not.

I hear ya, I've never been a big advocate of extended warrantys for
anything actually. I was hoping to also hear from some who may have had
to use it past the basic warranty. Perhaps for items such as cooling,
electrical systems, suspension, body, etc.

Basic 5 year / 60,000 miles
Free Maintenance N/A
Drivetrain 10 year / 100,000 miles
Roadside 5 year / Unlimited miles
Rust 7 year / Unlimited miles

Rust is certainly not an issue for me due to my locale, nor is Roadside.

 

I bought a used Astro one time with 42K miles on it and put an extended
10/100 warranty on it through my Allstate insurance agent.

It wasn't two weeks later I was shelling out $600 on an a/c hose
aluminum manifold that wasn't covered by the warranty.

Even so, after all the frequent trips to the repair shop, I got twice
out of that warranty what I paid for it.

But that was a GM vehicle, not a Hyundai. <G>

--

 

That is the exception.

I've owned at least one or two cars continuously over the past 46 years.
Only once did I have a very large repair, a $2500 transmission job on a car
with 122,000 miles so I'm not sure even that would be covered. In today's
money I'd be putting about $500 a year into extended warranty coverage. Had
I put that money into savings every years I could buy a brand new Sonata.

I don't buy extended warranty for appliances either, but do have health care
insurance.

 

It's the biggest rip-off a dealer has. My wife purchased one before she was
my wife, she found out what a "limited" warranty was.