I'll make this easier for you to decide rather just straight telling you yes or no.I brought a new Hyundai Ioniq 5 LTD yesterday. The dealer in Chantilly.
As per him, the Hyundai manufacturer warranty covers only defects.
VA advised me to buy Platinum coverage for 10 years for the new car. It costs around 3000 $.
This Platinum coverage is from Assurant. Should I but this additional coverage as this is an electric car.
On the other hand, this car is new and Hyundai has the best warranty in the business.
- How long are you going to keep the car? 5 years or less? Then don't bother, don't think about it anymore. Don't get the extended warranty.
- Are you planning to keep the car longer than 5 years and up to 10 years? Then you can think about getting the extended warranty because it typically extends the bumper to bumper to 10 years. Move on to number 3 if you plan to keep the car for as long as possible and interested in extended warranty.
- Understand what the extended warranty gives. You didn't give any details about it so I don't know what to say about the Assurant warranty your dealer is offering. See what is extended. Are you still interested? Move on to number 4.
- Extended warranty is basically insurance and for peace of mind. Anything can break at any time. After the first 5 years, if something breaks, can you afford to fix it on your own? Of course it depends on what it is, but if it's electronics, then it can get really expensive. The peace of mind is you can get it fixed without money suddenly "disappearing" from your account.
While the powertrain and battery warranty is very important to have. The car uses a lot of other parts that's not covered by these two warranties. Extended warranty is the same concept for everything, so nothing different with a car. You just need to weigh the pros and cons based on your situation and decide. Ignore the blatant yes and no comments, they aren't helpful to you making your decision.
As far as I'm aware, Hyundai's extended warranty extends the battery warranty from 10 years / 100k miles to 10 years / 120k miles. Bumper to bumper from 5 years / 60k miles to 10 years / 120k miles. Roadside from 5 years / 60k miles to 10 years / 120k miles. The most important part is the extended bumper to bumper as that covers what powertrain and battery warranty doesn't.
So hopefully what I said helps you make a decision. You can always get a refund or prorated refund for the extended warranty if you change your mind later. Extended warranty is very much based on the individual's needs and situation. Just like with insurance, you have it just in case you need to use it (if we forget the part about it being required).
If your gut is telling you no, then just say no.