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Think about it this way: What will $300 a year (1500 divided by 5; finance charges are not included) bring you? Let’s even assume you go 10,000 miles annually.
You’ll have the 3,750 and 7,500 mile services the first year. The cost of the first oil change is around $35, and the second is still only $35 for an oil change, but they “inspect” a list of issues for an hour or so of labor, as well as $20 for a tire rotation and $30 for an air filter replacement (their cost estimated). With an hour of labor for inspections, you’ve spent $120 on genuine replacement parts and fluids for a brand-new automobile. Of course, their 7,500 package alone will cost between $100 and $150, but the actual cost of the parts used is $120. I therefore believe that the first year of the maintenance package was overcharged by at least $100.
For the first year, your cost would be about $100, which is $200 more than what you would have spent with the plan, if you had these services performed at any other mechanic (which is perfectly legitimate for warranty purposes).
With the addition of a few more “inspect” items, the second year is a carbon copy of the first. No change… the plan was overpaid by $100 or $200. However, without a maintenance plan, the dealer will have to charge you for a “15K service” package that ranges in price from $200 to $250. This is despite the fact that the fundamental services remain the same. In comparison to paying full price for a dealer’s service package on your own, you may theoretically break even this year.
In year three, you can expect more of the same. First, you’ll have an oil change, and then you’ll need a 30k service. Without the maintenance plan, that service package will cost at least $350, yet it simply includes an oil change and “inspections”. Additionally, they’ll offer you a $300 transmission flush that is not covered by your maintenance schedule.
I believe you understand my point: throughout the course of five years, your vehicle will need oil changes, tire rotations, and air filter changes. The rest is just “inspect this and that.” The majority of the items that are evaluated are already examined during the complimentary examination that comes with an oil change. Approximately 10 oil changes ($35 each), tire rotations ($20 each), and air filters ($30 each dealer cost) totaled $1500 in your wallet. Approximately $850 in expenditures at a dealer You gave them twice as much money for the service plan. Remember that they may advise you to replace items even if you may not need to. That is customary behavior. such as brake fluid and transmission flushes. The maintenance plan will not provide any coverage for any of that. All extras are $100 or more each. You are responsible for paying for any items found to need repair or replacement after a “inspection”.
If you change your mind, you should be able to cancel and receive a refund; but, unless it’s stated on your documentation, you’ll likely need to contact Hyundai for further information. Online, I can find nothing about canceling.
Pre-paid maintenance plans, unless they are very inexpensive, are, in my opinion, for losers. I’m the fool who foolishly purchases extended warranties, but that is a very separate topic.
In This Article...
A Pre-Paid Maintenance Package’s Advantages and Disadvantages
You might have the option to acquire a pre-paid maintenance plan when you purchase a new or used automobile from a dealer. The scheduled maintenance listed in the owner’s manual is covered by these plans, which are available for new and used cars without a factory-backed maintenance plan, for a set period of time or mileage.
Take into account the following advantages and disadvantages to decide which of these plans is best for you.
Pros:
- expenditures for locked-in maintenance. When maintenance is paid for in advance, future service charges won’t increase. If you plan to take your car in for maintenance frequently, this is a major benefit.
- price reductions. Dealers (like Heritage Hyundai Towson) may provide the most sought-after maintenance services at a reduced cost for customers who have acquired the plans due to the nature of pre-paid maintenance plans. Everyone benefits from the price reductions while also developing a lasting relationship with the dealership’s service staff each time the vehicle is brought in for maintenance.
- They facilitate life. When your car needs maintenance, having peace of mind that it is covered and included saves time and money. There’s no need to overthink anything because dealers will always let you know when you require routine maintenance.
Cons:
- Modern automobiles don’t need a lot of maintenance. Whether or not this is a scam is unknown to us. When you purchase a pre-paid plan, you run the risk of shelling out more money for services you might never use. Because of it and the fact that the majority of pre-paid plans don’t cover wear-and-tear products, you can feel as though you spent more money than was necessary.
- longer times between services. The maintenance schedule is occasionally different from what the automaker advises. For instance, a pre-paid maintenance plan can stipulate that an oil change be performed every 10,000 miles, even though the manufacturer might recommend doing so every 3,000 to 5,000 miles. It’s possible that you won’t be able to adhere to these recommendations if you drive your car frequently (and, thus, have to pay extra for services you require outside the plan).
Before choosing a pre-paid maintenance plan, consider these advantages and disadvantages as well as your specific needs and preferences. Alternatively, you may speak with any member of our trained service team at Heritage Hyundai Towson to determine which choice is best for you and your vehicle.
Hyundai Maintenance Cost on the Average
The average annual cost of Hyundai maintenance, including both expected and unanticipated repairs, is $428, according to RepairPal. Hyundai cars are fairly inexpensive to maintain compared to the $652 industry average.
An overview of many well-known models’ maintenance expenses is shown below:
Hyundai model-to-model average maintenance costs differ slightly, and vehicle age and usage also have an impact on Hyundai ownership expenses. Remember that as your car ages and parts wear out, the cost of repairs will increase.
Ownership expenses are comparable to other recognized brands like Honda and Kia and far cheaper than those of luxury cars.
buzz1971
I spent more money on something more complete than I probably should have. I believe I have this (go to bottom of page). Pre-paid maintenance is what it’s called, and it’s valid for 105K miles or 7 years. I intended to retain this car for a while. What the initial finance guy said and what is happening are at odds, which is my problem.
The head of finance at my dealer remarked, “The desert SW is hard on cars so Hyundai suggests some additional maintenance that is not included by the prepaid plan I bought,” when I spoke with him today. He continued by saying that he had recently learnt of this and that it was likely the seller who was unaware as well. Therefore, either I’m the first to purchase this plan and object when money is charged, or he’s being dishonest. This is in addition to the finance person I spoke with promising totally different things in response to my numerous inquiries.
I should have read the fine print because the disclaimer essentially creates a loophole for situations like these. I’m simply trying to determine whether anything is “recommended” versus “necessary” (in their terms) and if anyone has purchased this kind of plan and then been asked to pay for maintenance they believed was covered.
For the record, in response to my complaint about the price they intended to charge, the service guy I spoke with when I scheduled the 15K appointment questioned me about when I purchased the car. Then he exclaimed, “Uh oh,” and informed me that they had fired a man for making excessive promises (I’m sure he wasn’t meant to say that). Numerous sketchy details in the interactions I had with the vendor regarding the prepaid plan I purchased are incongruous.
Prepaid maintenance contracts: Are they worth the money?
Doing the arithmetic before meeting with the dealer is the key to saving money, as it is with the majority of components of the car-buying process. Compare the plan’s cost to the expected cost of the out-of-pocket expenses or scheduled costs for the covered period.
The maintenance you’ll need and when you’ll need it should be listed in your owner’s manual. For a breakdown of the costs associated with planned maintenance, contact the dealer service manager. You can find out the scheduled maintenance costs for particular models at normal service intervals using the maintenance cost calculator and cost-to-own calculator offered by Edmunds.
Prepaid auto maintenance plans are ultimately not worthwhile if the expected cost of scheduled maintenance for your new car for the first 30,000 miles is $400 and you spend $800 for the plan. You save money if you get the plan for $250. You can strike a balance, but keep in mind that if the prepaid maintenance plan is part of your loan, you should estimate the total cost by adding the interest cost to the flat maintenance cost.
Predictability
A maintenance plan guarantees the price of your planned maintenance work for a predetermined number of years or miles after the original purchase. This provides you with predictability and lessens your future financial strain. Price hikes won’t affect you in the future, and since routine maintenance is already covered, you won’t put off necessary repairs because of a lack of money. Setting up an appointment and bringing your car to the dealership will take care of anything from oil changes to tire rotations and more.
The value of BMW PrePaid maintenance
In comparison to maintenance from independent repair shops, the BMW maintenance plan typically costs more. It might not be worthwhile if you drive fewer than 15,000 miles annually, which is the national average. However, if you use your car a lot, the maintenance plan might be more beneficial.
How much is the prepaid maintenance plan for Hyundai?
Here are some frequently asked queries regarding Hyundai maintenance plans and costs.
Hyundai cars are less expensive to fix than other cars, according to RepairPal. The typical yearly maintenance expense for a Hyundai is just $468, which is $184 less than the $652 average industry maintenance cost.
For models made in 2020 and beyond, Hyundai provides free maintenance for three years or 36,000 miles. Tire rotations, multi-point inspections, and engine oil and oil filter changes are all part of the Hyundai Complimentary Maintenance program.
A comprehensive service on a Hyundai should be performed at 15,000, 30,000, 60,000, and 90,000 kilometers. Additionally, Hyundais require oil changes every 5,000 to 10,000 miles.
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Is maintaining a Hyundai expensive?
Hyundais don’t require a lot of maintenance. Owners spend an average of $468 a year on repairs and maintenance, according to RepairPal, which places the brand in fourth overall. This is less expensive than the $652 annual average for the sector.
According to RepairPal, the typical owner spends roughly $468 year on maintaining a Hyundai. Costs vary according to different models as well. For instance, the Sonata costs $458 annually while the Elantra costs roughly $452.
Honda is the least expensive automobile brand to maintain, according to RepairPal. The average cost of maintenance and repairs for drivers is $428 annually, and some Honda models are even more affordable.
Yes, Hyundai components are less expensive than the majority of other imported brand parts available. It also means that you may take your Hyundai to any trained mechanic for service, which is one of the reasons Hyundai repair costs are generally reasonable.