I just purchased a 2016 Hyundai Santa Fe Sport AWD and they have offered me an offer to purchase an extended warranty. As you know extended warranty is not cheap and I am trying to get some feedback if I should buy the extended warranty or not. I appreciate any help you can give me with my dilemma
Thanks
Brian
Is this from a Hyundai dealer or from an independent used car dealer?
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How many miles on this and are you the second owner? Hyundai has a free 5 year 60,000 mile powertrain warranty for the second owner.
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Old Mopar Guy is right. From a dealer, offering a Hyundai extended warranty the answer is “Worth considering.” Here are some things to think about. From a third party, my answer would be “No Way.”
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Right to above, Leased a Toyota extended factory warranty is $1600 I believe. If we are looking to buy it we will get it, which we can do up to 6 months before the lease is over. It is like any insurance policy, a little money now or possibly big money later. Do you feel lucky? I enjoyed 4 extra years of no worries on our last car, though It was a profit for the dealer as we did not save enough in repairs to cover the warranty cost. One never now, you pay your dues or take your chances.
Reliability for that year and model is rated much above average in Consumer Reports’ April 2019 issue.
If it was me, I would buy the car from a Hyundai dealer with the CPO warranty included. This gives your the same warranty the first owner gets. I have done this already a few times. Even though the CPO warranty is built in the price, I didn’t pay much more than a comparable car at the non-Hyundai dealer.
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Another question is, are you financing? If so, the cost of the warranty is compounded by your interest rate and could keep you upside down on your auto loan all the way to the end of the term.
I never buy auto warranties. The amount I have saved over the years has paid for any repairs that would be covered many times over. If you are financially responsible, put the money you would have spent on the warranty in the bank. Maintain your vehicle diligently, and you will most likely come out ahead.
Insurance companies are filthy rich because they collect premiums far in excess of paid claims.
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An extended warranty backed by the manufacturer itself is often worthwhile. However, an “extended warranty” backed by the dealership or some third-party insurance company usually is not worth the paper it’s printed on.
Regardless of whether you have an extended warranty, or are still within the manufacturer’s limited warranty, it is critical that you follow the recommended service intervals–especially for oil changes–and keep all invoices. Certain engines used in Kia and Hyundai vehicles have a known design defect, which could cause the engine to develop a bearing knock or seize up. If this happens, you will need to provide proof of proper maintenance or else Hyundai will deny the warranty claim.
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The vehicle I just purchased is from an independant used car family run business. They have been in business for over 40 years, and it is the 2nd Santa Fe I have bought from them.
Sounds like, then, that its not a Hyundai factory extended warranty.
I’d pass on the warranty.
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Thx, I agree. From all that I have been reading, the 2016 Santa Fe Sport is one of the best and possibly the best SUV that Hyundai has ever made. Your comment supports what I have been thinking for the past 3-4 days
Thank you
Thanks for the info
Thanks. I also found the same thing in the numerous articles I have been reading. I think that the 2016 Santa Fe Sport is one of the best SUVs that Hyundai has ever made
Again, thanks
About 55,000 miles. Actually I am the 3rd owner. It was on a lease and majority of miles was highway. Per the Carfax report it had oil changes all over southern Ontario suggesting that it was highway driven.It still has about 6,800 miles left on the Hyundai warranty
Thanks for your info
Independat dealer
The price for the warranty is calculated so that on average the car owner won’t get back as much in reduced car repair fees compared to what they pay for the warranty. Same is true of any extended warranty of course, nobody’s gonna give the benefits away without making a profit. I guess for someone who doesn’t do much diy’er work themselves and has to pay shop fees for most of their car repair work, the way I’d decide is by looking at the Consumer Reports used car guide. If the make/model/year gets better or much better than average reliability ratings, I’d probably skip the warranty. If rated average or lower than average reliability ratings, I’d probably buy the warranty.
That calculation only works if the warranty pays. Many third party warranties don’t.
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Many Hyundai owners have experienced engine failures with the Theta II engine, this typically occurred at between 5 and 8 years of age. Recalls for the engine failures began 3 1/2 years ago and things are getting worse.
Read about the Theta II engine recalls below however be aware that this information is not up to date, there have been more recalls issued.
hey there, could you please share the cons after get back your car after lease? I also want to lease my one, but I am worried about this, I have heard the Santa Fe is not engineered to handle an extremely rugged environment and highway. Is it true? Please share.