Saving money on a new car includes saving money on car repairs.
Making a good deal is not just about saving money at the point of purchase. Saving money is also important throughout the lifetime of ownership of an asset. In this case it’s your next new car. All new cars come with a new car warranty. However, a new warranty is not a new car warranty. Translation: All new car warranties are not created equal. To help you make the best choice on the best deal on your next new car.
Warranties are typically broken into a few different parts. Here are the most common warranty components:
• Basic: Also known as “bumper-to-bumper” coverage, this is the general coverage that would pay to repair defects in factory-installed parts. Tires are not typically included because they’re usually covered under a separate tire manufacturer warranty.
• Powertrain: Covers the engine, transmission and transaxle parts, and usually lasts longer than basic coverage. This is also known as a drivetrain warranty.
• Corrosion: Covers rust that causes holes in sheet metal in parts such as the doors or side panels.
• Roadside assistance: Provides help with towing and tire-changing if the car breaks down while traveling.
Hyundai’s basic warranty is good for five years or 60,000 miles, whichever comes first.
The basic warranty is combined with a powertrain warranty that covers up to 10 years or 100,000 miles. This provides for repair or replacement of powertrain components originally installed or made by Hyundai that become defective under normal use. There is a special limitation to the powertrain warranty. Only for the original owner of the vehicle gets the full 100K. If you sell the car, the new owner gets a five-year 60,000-mile new-vehicle limited warranty dated from the original owner’s purchase.
In addition to the bumper-to-bumper and powertrain coverage, there is also a seven-year unlimited-mile antiperforation warranty, which covers corrosion or rust that goes through a body panel from inside to outside of the original sheet metal.
Hyundai also provides vehicle owners with a five-year, unlimited-mile 24-hour roadside-assistance service, which includes towing, battery jump-starts, flat-tire changing and lock-out assistance. Unlike the powertrain warranty, this final warranty component is good for original and subsequent vehicle owners.
The Mitsubishi basic car warranty is good for five years or 60,000 miles, whichever comes first. Both original owners and subsequent owners receive the same type of warranty. If you’re the type of driver who would sell your car after three or four years, the fact that the next owner could still take advantage of the new-vehicle limited warranty could make the Mitsubishi stand out against potential used-car competition.
Mitsubishi also offers a 10-year 100,000-mile powertrain warranty. However, if you sell the car, the new owner won’t enjoy the benefit of the remaining balance of the 10-year 100,000-mile coverage – it’s non-transferable. The new owner would receive the balance of the new-vehicle limited warranty — the original five-year 60,000-miles of coverage.
The manufacturer does have two major warranty programs, which follow the car regardless of the owner. There is the seven-year 100,000-mile anticorrosion/perforation warranty to protect against rust through sheet metal. And, Mitsubishi also offers roadside assistance for five years with unlimited miles. Both warranties cover original and subsequent owners.
Kia vehicles boast a basic car warranty that lasts for five years or 60,000 miles, and a 10-year 100,000-mile limited powertrain warranty.
The full duration of the powertrain warranty goes to the original owner. If the vehicle is sold, the next owner receives a warranty for 60 months or 60,000 miles, whichever comes first. The powertrain contract includes coverage for parts of the engine and transmission case.
Kia cars also come with a five-year 100,000-mile antiperforation (anti- corrosion/rust) warranty with 24-hour roadside assistance. It’s good for five years or 60,000 miles.
While there are many great cars made be good manufactures. These three companies have the best of the best warranty coverage. As you narrow your final choices for your next new car, ensure you look at the fine print of the new car warranties. Happy shopping!