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Seriously, unless you have a reeeealy long commute, most people would never keep a car that long. The interior, paint, and other mechanicals are likely to fail, or the owner just gets tired of it before then. They are not likely to have to pay off on that warranty very often, but people will buy because it looks impressive. Of all the cars I have bought new, the most I have ever put on one was 130k.
I think this is why Hyundai/Kia offers the 10yr/100k powertrain warranty to original owners only. They have done their research and know most people trade their car after only a few years.
I'm on my third Hyundai. First was a 00 Tiburon that was hit and wrecked. I still have a 01 Tiburon I drive that runs and drives great with 185,000 on it. She's my baby. Also I have a 2013 Genesis Coupe. It has 45,000 on it. All bought brand new so I have/had the 100,000 warranties. Next car will be- yep, a Hyundai. With a 5 or 6 speed manual. Also black. Got to keep it going here. lol
Do note that by law a manufacturer cannot force you to perform maintenance at a dealer as a part of keeping a warranty, unless the maintenance is free.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Quote:
Originally Posted by JGMotorsport64
Do note that by law a manufacturer cannot force you to perform maintenance at a dealer as a part of keeping a warranty, unless the maintenance is free.
No, but they can require proof in the form of receipts as is specified in this warranty.
If you're planning to buy and keep a car for an extended period then the Hyundai warranty is a great deal (either the 10/100k or 20/200k). While I think the odds of major engine failure in a properly maintained car are fairly low, transmissions are another story -- that's true of any make and model. That's how I look at it, Hyundai is basically offering free transmission failure insurance. Since a new tranny can set you back $2000, economically it's very appealing to choose Hyundai over other brands.
If the warranty is backed by an unknown 3rd party, what's to prevent that 3rd party from going out of business to dump all their warranties, and then restarting their business under a new name?
That is exactly what has happened. These 3r party warranties are sometimes off shore companies.
There is the deductible and then there are the parts not covered.
Know of one. Person purchased "owners wife's car" or some such wording. Got the extended warranty.
After the manufacturers warranty expired, the engine oil pump quit. "NOT COVERED" was the answer.
And was stated that "wear parts" are not covered.
Who keeps cars for 20yrs? Even 10yrs is pushing it if its a daily driver.
I lease now, but back when I use to purchase used vehicles, I would buy them with around 70-80k miles from a private owner who had all maintenance records. NEVER from some shady used car dealer. I would usually keep them till about 140k miles then sell even if the car was still running fine. That's usually when the tranny starts acting funny. Never wanted to deal with that headache.
I'm on my third Hyundai. First was a 00 Tiburon that was hit and wrecked. I still have a 01 Tiburon I drive that runs and drives great with 185,000 on it. She's my baby. Also I have a 2013 Genesis Coupe. It has 45,000 on it. All bought brand new so I have/had the 100,000 warranties. Next car will be- yep, a Hyundai. With a 5 or 6 speed manual. Also black. Got to keep it going here. lol
I am like you. I keep my cars for at least 200000 miles and don't let them go until the cost of repair exceeds common sense. So warranties, if worthwhile, would be a consideration. Of more value to me is reliability though.
To me a car is a means of transportation and as long as it meets my needs I keep it
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