[dky]

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.
Please advise

I'll make this easier for you to decide rather just straight telling you yes or no.

1. 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.
2. 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.
3. 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.
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.

If you still want the extended warranty, then get the Hyundai extended warranty. As others have said, it's tied to your VIN so you can get it serviced at any Hyundai dealer. It's possible Hyundai is working with Assurant for the extended warranty stuff, but it's marketed as Hyundai's extended warranty, not Assurant's extended warranty. As others have also said, you can call other dealers in your area and see how much they are offering for the extended warranty and go with the cheapest one. Only downside is you have to pay for the cost of warranty up front rather adding it to the loan.

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.

 

[NHIOgirl]

My dealer implied that the extended warranty also extends roadside assistance policy to ten year, which covers towing. At the moment, the Ioniq 5 can only be serviced at Hyundai dealerships that are certified to work on the Ioniq 5. Since the vehicle is only being sold in a limited number of states (and hopefully a lot more states in five years), the towing alone brings me peace of mind. I've been led to believe that roadside assistance will tow the car to the closest dealer certified to work on an Ioniq 5 (although I would like this to be confirmed somehow!)

 

[CoSolar]

Extended warranties are designed to make money for everyone but the buyer. Rarely do they ever save the owner money.

 

[PaulZooms]

I recently purchased the 10 year/100K Hyundai extended warranty for my Ioniq 5 for $1,900. It took some calling around to find the lowest price in my area. Other dealerships near me were charging quite a bit more.

I purchased a Vehicle Service Contract (VSC) for my Ioniq 5 Limited AWD. 10 years, 120k miles/$0 deductible for $1598 from Crystal Careau at Burlington Hyundai. ([email protected]).The dealer I bought my I5 from wanted $3200 (2x!) for the same VSC. 10 years/100k miles/$0 deductible would have been $1398.

If you’ve found a better price on a genuine Hyundai Protection Plan (HPP), please share details!


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[AaronB553]

@PaulZooms That is a great price; the best I've seen. Congrats and enjoy your new ride!

 

[dtsuyuki]

I paid $1500 for that Platinum policy, since it only added like $15 to the payment (they initially quoted me $5k!). I think my payment was 435 and knowing that I'll pay $450 anyways, I told him the only way to get me to buy that (which I didn't really want) is if they reduced it to that. After a lot of back and forth, they gave in. I figured it gave me a little more reassurance since I'm new to the EV world and didn't want to have to worry about things. Totally optional though. They make quite a bit of profit off these from what I hear.

 

[PaulZooms]

I paid $1500 for that Platinum policy, since it only added like $15 to the payment (they initially quoted me $5k!). I think my payment was 435 and knowing that I'll pay $450 anyways, I told him the only way to get me to buy that (which I didn't really want) is if they reduced it to that. After a lot of back and forth, they gave in. I figured it gave me a little more reassurance since I'm new to the EV world and didn't want to have to worry about things. Totally optional though. They make quite a bit of profit off these from what I hear.

The 10 yr/120 K mi/$0 deductible costs them $1298.


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[barryvo]

The 10 yr/120 K mi/$0 deductible costs them $1298.


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I was quoted over $3K for the same plan and turned it down. I'm trying to find a different deal to sell it at a good price. We were previously going to get a Mustang Mach E and it was crazy easy to find extended warranties at good rates from multiple reputable dealerships.

 

[PaulZooms]

I was quoted over $3K for the same plan and turned it down. I'm trying to find a different deal to sell it at a good price. We were previously going to get a Mustang Mach E and it was crazy easy to find extended warranties at good rates from multiple reputable dealerships.

I bought a genuine Hyundai Platinum extended warranty (vehicle service contract- VSC) for my I5 Limited AWD. 10 years, 120k miles, $0 deductible. $1598 from Crystal Careau of Burlington Hyundai. ([email protected]) The 100k miles/$0 deductible would have been $1398.

The dealer I bought my I5 from wanted $3200 for the same plan. (No thanks!)

 

[barryvo]

I bought a genuine Hyundai Platinum extended warranty (vehicle service contract- VSC) for my I5 Limited AWD. 10 years, 120k miles, $0 deductible. $1598 from Crystal Careau of Burlington Hyundai. ([email protected]) The 100k miles/$0 deductible would have been $1398.

The dealer I bought my I5 from wanted $3200 for the same plan. (No thanks!)

Did you purchase the vehicle from them or just plan? I will contact and see if they will sell the plan.

 

[PaulZooms]

Did you purchase the vehicle from them or just plan? I will contact and see if they will sell the plan.

I bought the I5 from another dealer. Just the VSC from Crystal.

 

[barryvo]

I bought the I5 from another dealer. Just the VSC from Crystal.

Crystal responded right away. Another East Coast dealership also responded with the same quote. The vehicle should arrive on 10 days. I'll see if my dealership offers it at a reasonable price. I'd be willing to pay dealership up to $200 more since he is selling at MSRP with no required package.

 

[hpark21]

Unless my wife's job changes, 10 years won't be the factor as my wife drives like 18k miles per year which means even 120k mile warranty will be over in like 6.5 years...
I know Kia used to offer 10 year unlimited miles warranty..

 

[firstnewcar]

i was quoted $4500 for 10 year hyundai extended warranty on an ioniq 5 - so that's one sample i guess

I just bought an ioniq 5 tonight in MA. Dealer offered me this for over $4000, might have been $4500. I said I wasn't interested he said what if I can lower the price. I said maybe if you halve it. I'd do $2000. He said he could only go to $3250. I said I think I'm good and he said he could do $2900, only $50 above their cost". I took it but I think I'm going to cancel. I hate the sleazy sales tactics.

They also showed me the financing numbers and they don't show interest rate. I asked what it was and he said 7 percent. I said I'll try my bank they are around 4 percent. He said let me try another bank and he came up with 5.19 percent like magic. I feel like they really try to burn you every chance they can and it leaves a bad taste in my mouth.

Standard warranty covers 5 years 60k and battery and drivetrain covered to 10/100k, not sure why more than that is necessary.

 

[Whale2222]

Q

I purchased a Vehicle Service Contract (VSC) for my Ioniq 5 Limited AWD. 10 years, 120k miles/$0 deductible for $1598 from Crystal Careau at Burlington Hyundai. ([email protected]).The dealer I bought my I5 from wanted $3200 (2x!) for the same VSC. 10 years/100k miles/$0 deductible would have been $1398.

If you’ve found a better price on a genuine Hyundai Protection Plan (HPP), please share details!


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This is an old thread, but I thought I would let everyone know I just purchased this extended warranty from Crystal Careau a week ago. The price was as quoted above. At 20 K miles per year, my original warranty would have expired at the end of 3 years. I also know the warranty is transferable, and that may result in a higher resale value.

Everyone needs to decide for themselves whether an extended warranty is worth the money.

 

[AaronB553]

You don't have to buy the Hyundai extended warranty from the dealer from which you bought the car. Call around to find the best deal. The best price I recall seeing for the 10-year extended warranty is around $1,600. I wish I'd known that when I bought the extended warranty.

 

[Ioniq5Scot]

For cash purchased cars, is the ($1600) VSC cost paid now, up front, in one payment or is it paid in installments?

 

[cmwade77]

If you do want an extended warranty, I would look at this one:

EV Extended Warranty - xcelerateauto.com

www.xcelerateauto.com

It is specifically designed with EVs in mind.

 

[Ioniq5Scot]

If you do want an extended warranty, I would look at this one:

EV Extended Warranty - xcelerateauto.com

www.xcelerateauto.com

It is specifically designed with EVs in mind.

Thanks.

 

[hpark21]

If you do want an extended warranty, I would look at this one:

EV Extended Warranty - xcelerateauto.com

www.xcelerateauto.com

It is specifically designed with EVs in mind.

If official one with 10 years 120k miles warranty is less than $1600. Why would one want to pay $1k more for same thing from 3rd party?