Edmunds Answers

Voted Best Answer

  • avatar Stever@Edmunds 02/18/10 11:16 am PST

    Your new Hyundai (congrats!) already comes with a 10 year, 100,000 powertrain warranty from the factory.

    A wrap warranty would supposedly cover everything else that's "wrapped" around the factory warranty.

    But you have to read the fine print about what it really does cover. Usually there are a bunch of exclusions and wear and tear items aren't covered.

    Extended warranties are a big profit center for dealers so unless you really worry at night about your radio or other electronics dying, I'd pass. And if the wrap extended warranty isn't offered by Hyundai, I'd probably pass for that reason as well - too many aftermarket warranty companies have gone bust in the last decade.

    And remember that your basic warranty is 5 years, 60,000 miles, so you are really only buying 5 years and 40,000 miles of coverage.

    It it were me, I'd cancel it and get my money back. If the car has problems in the first 5 years you can find an extended warranty to buy at that point (but if it has problems, you'll probably trade it anyway).

    Source: http://www.edmunds.com/advice/warrantie
    s...

Answers

  • Stever@Edmunds 02/18/10 11:16 am PST

    Your new Hyundai (congrats!) already comes with a 10 year, 100,000 powertrain warranty from the factory.

    A wrap warranty would supposedly cover everything else that's "wrapped" around the factory warranty.

    But you have to read the fine print about what it really does cover. Usually there are a bunch of exclusions and wear and tear items aren't covered.

    Extended warranties are a big profit center for dealers so unless you really worry at night about your radio or other electronics dying, I'd pass. And if the wrap extended warranty isn't offered by Hyundai, I'd probably pass for that reason as well - too many aftermarket warranty companies have gone bust in the last decade.

    And remember that your basic warranty is 5 years, 60,000 miles, so you are really only buying 5 years and 40,000 miles of coverage.

    It it were me, I'd cancel it and get my money back. If the car has problems in the first 5 years you can find an extended warranty to buy at that point (but if it has problems, you'll probably trade it anyway).

    Source: http://www.edmunds.com/advice/warrantie
    s...

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