Question about 10 yr extended Full Warranty

[roverny]

Hi all,

When I bought my stinger they tried to sell me a complete 10 year warranty covering everything.

I told the wife I'd keep the cost under a certain number so didn't bite. However, I am interested as I've had awful luck with cars.

When my dad bought a Prius a while ago he also didn't get the warranty at purchase and about 8 months later found it online from a dealer in Michigan (we live in Oregon) for half the price!!

Does anyone know of anything like that for the Stinger?

Thanks!

 

[PHL Mike]

Those ‘dealer sold’ warranties are a HUGE source of extra profit for any dealer. (Like a car loan with interest mark up they can provide) Kia’s warranty is very good BUT not all encompassing. As you saw in the past there are others available online for much less. Keep in mind if you buy one you may be out all the additional cost if your car is wrecked or sold.
Dealers may not tell you that as they are pitching them. They’ll happily add it onto you car loan.
Per square foot the financial offices are the most profitable rooms in a dealership. By far!! They’re selling hard but friendly in those rooms.
Good luck...

 

[roverny]

Those ‘dealer sold’ warranties are a HUGE source of extra profit for any dealer. (Like a car loan with interest mark up they can provide) Kia’s warranty is very good BUT not all encompassing. As you saw in the past there are others available online for much less. Keep in mind if you buy one you may be out all the additional cost if your car is wrecked or sold.
Dealers may not tell you that as they are pitching them. They’ll happily add it onto you car loan.
Per square foot the financial offices are the most profitable rooms in a dealership. By far!! They’re selling hard but friendly in those rooms.
Good luck...

Thanks for the reply. Yeah, I hear you and in most situations I don't buy the warranty, but after 20+ years owning cars and computers, the warranty has almost always been worth it.

 

[Ruturaj]

Kia's extended warranty is a good idea. People on this forum paid 1500 for it. 10 year/100k platinum. Just make sure its from kia and has no deductible

 

[roverny]

Kia's extended warranty is a good idea. People on this forum paid 1500 for it. 10 year/100k platinum. Just make sure its from kia and has no deductible

Thank you! That's exactly the price I'm looking for! Any clue where it's being offered?

 

[Ruturaj]

Thank you! That's exactly the price I'm looking for! Any clue where it's being offered?

No idea about that. That's the info I got from other threads. I still need to keep my car on lease, after buyout, I would start looking at offers.

 

[Unclekeg]

@roverny If you find a link to this elusive Platinum warranty for 100k miles offered by Kia, please post here. Every dealer I have talked to sells their own 3rd party warranty. The only Kia extended warranty I am aware of is for their certified pre-owned cars.

 

[compujas]

You could also try looking into whether your insurance company offers Mechanical Breakdown Insurance. It's usually much cheaper. I pay about $70 a year for it on my Stinger through Geico and it seems to cover what a bumper-to-bumper warranty to would cover. I've never made use of it though, but I've also never made use of any other warranty I've purchased on a car. Only once on my wife's previous car just before it expired.

 

[Ruturaj]

You could also try looking into whether your insurance company offers Mechanical Breakdown Insurance. It's usually much cheaper. I pay about $70 a year for it on my Stinger through Geico and it seems to cover what a bumper-to-bumper warranty to would cover. I've never made use of it though, but I've also never made use of any other warranty I've purchased on a car. Only once on my wife's previous car just before it expired.

The MBI from geico has deductible of 250, can go till 7 years only. Will go up once manufactures warranty expires. If I have to get it, I would wait till close to but not more than 15 months/15,000 miles then get it, so that you can renew it for 7 more years or till 100k miles, this way you will have less overlapping warranty. Depending on how many issues show up in next 10 years, one might be cheaper than other. But I think Kia's will end up better.

 

[compujas]

The MBI from geico has deductible of 250, can go till 7 years only. Will go up once manufactures warranty expires. If I have to get it, I would wait till close to but not more than 15 months/15,000 miles then get it, so that you can renew it for 7 more years or till 100k miles, this way you will have less overlapping warranty. Depending on how many issues show up in next 10 years, one might be cheaper than other. But I think Kia's will end up better.

Could be. And sure, you could wait to start it until 15k, but on average that's going to be around a year, so you're only saving maybe $70 or so. $70 is $70 but it could turn into a whole lot more if you forget to add it in time. And you're right that it only goes to 7 years vs KIA's 10. But it's also a whole lot cheaper.

 

[Ruturaj]

Could be. And sure, you could wait to start it until 15k, but on average that's going to be around a year, so you're only saving maybe $70 or so. $70 is $70 but it could turn into a whole lot more if you forget to add it in time. And you're right that it only goes to 7 years vs KIA's 10. But it's also a whole lot cheaper.

I think it goes 7 years from start, so you don't save 70, rather it covers 8th year than 1st. And 70 is for the year which is already covered by manufacturer, it might/will go up as years go by and might end up costly.

 

[compujas]

I think it goes 7 years from start, so you don't save 70, rather it covers 8th year than 1st. And 70 is for the year which is already covered by manufacturer, it might/will go up as years go by and might end up costly.

Oh, maybe. I just assumed it was 7 years from purchase. It would have to go up by a lot as time goes for it to be more expensive than the Kia warranty. 7 years at $70 is only $490, 1/3 of the Kia cost, granted Kia's will go longer and has no deductible, so it's a risk tradeoff. If you never use it, MBI is cheaper. As I said, over 4 cars that I bought the factory extended warranty, it was only used once. I was going to decline the offer when I bought my Stinger but he never even offered it.

 

[Ruturaj]

Oh, maybe. I just assumed it was 7 years from purchase. It would have to go up by a lot as time goes for it to be more expensive than the Kia warranty. 7 years at $70 is only $490, 1/3 of the Kia cost, granted Kia's will go longer and has no deductible, so it's a risk tradeoff. If you never use it, MBI is cheaper. As I said, over 4 cars that I bought the factory extended warranty, it was only used once. I was going to decline the offer when I bought my Stinger but he never even offered it.

I think it is 7 years from purchase of MBI not car.

If you are never going to use it getting nothing is cheaper. With all electronics in gt2, I think I would be making 3-4 visits in next 10 years.

My dealer told me that they don't sell it at all. Wanted to sell 3rd party to me.

 

[roverny]

@roverny If you find a link to this elusive Platinum warranty for 100k miles offered by Kia, please post here. Every dealer I have talked to sells their own 3rd party warranty. The only Kia extended warranty I am aware of is for their certified pre-owned cars.

LOL.

As I said, over 4 cars that I bought the factory extended warranty, it was only used once. I was going to decline the offer when I bought my Stinger but he never even offered it.

The key question, how long did you own those cars?

 

[RUFFSTUFF]

Dealer offered one for $2200 and I said no. I'm not opposed to the idea, but that's too much for the amount of coverage past the factory. If anyone finds a good one for post sale... I'm in...

 

[techguy888]

The dealership I went to wanted to charge almost $4000 for the 10 year extended warranty they were selling me. Then the sales manager insulted me when I declined it. Almost walked out but it was by far the best price in town so I held my tongue. Never going back to that place.

 

[Mr. Wonderful]

My sister has a 2013 Sonata which was approaching the 5 y/o mark with about 30k miles on the odo.
She bought a Hyundai mfg. 5 year b2b warranty about 2 weeks before the car reached 5 y/o.
The cost was either $1,500 or $1,700. She bought it from the dealer that sold the car to her.
Maybe o/p could try buying one from a Hyundai dealer? After all, they own Kia.

 

[GenesisG70]

Usually extended warranties are shady... Telling you from personal experience with many of my pat cars.

 

[roverny]

My sister has a 2013 Sonata which was approaching the 5 y/o mark with about 30k miles on the odo.
She bought a Hyundai mfg. 5 year b2b warranty about 2 weeks before the car reached 5 y/o.
The cost was either $1,500 or $1,700. She bought it from the dealer that sold the car to her.
Maybe o/p could try buying one from a Hyundai dealer? After all, they own Kia.

Huh, interesting idea. May be worth a shot! Thanks!

Usually extended warranties are shady... Telling you from personal experience with many of my pat cars.

Fair enough. I as well have heard horror stories as well-well not horror stories, but just crappy benefits. However, it's worked great for my dad and I'm that person that everything seems to go wrong for!

 

[mldavis2]

I've posted this before, but extended warranties are often (not always) a bad deal. They are basically insurance policies by 3rd party insurance companies. They make a profit based on probability that you won't need it or you will forget you have it after a year or two, or they can find a loophole to avoid paying on a claim. Since the insurance company AND the dealer both make a profit on an extended warranty (you can bet neither of them will lose on the deal in the long run with many buyers) you know the warranty isn't worth what you pay for it unless you get unlucky and have a claim. In addition, many of the people who buy those warranties figure they'll need them so only the bad drivers buy them which contributes to the adverse selection and higher costs for the coverage. Think about it......

If it's a bumper to bumper warranty, read ALL of the fine print. The warranties my dealership sold back in the '80's were a joke. The main exclusion was for seals and gaskets. But if you stop and think about it, almost every failure is due to a blown gasket (water pump, transmission output shaft seal, differential seal, head gasket, CV joint boot seal, etc.) If you can afford your own repairs, you are way better off self-insuring and just being more careful. I never buy them and I've saved thousands of dollars over the years.