Who has the best new car warranty?
Hyundai, Kia, and Mitsubishi tie for best new car warranty
Hyundai, Kia, and Mitsubishi all offer a 10 year/100k mile powertrain warranty, which is almost double the duration of their competititors. These three brands also offer a 5 year/60k mile basic warranty, which generally covers more than the powertrain warranty. Hyundai, Kia, and Mitsubishi's powertrain warranties are not transferrable. That means the original owner reaps the most benefits. The average powertrain warranty is 5 years/60,000 miles for vehicles in the same class (economy to mid-level). Hyundai, Kia, and Mitsubishi top their competitors with 5 more years and 40k more miles in coverage!
In my opinion, Hyundai, Kia and Mitsubishi also win when it comes to the basic warranty compared to their competitors. Hyundai, Kia, and Mitsubishi all offer 5 years/60k miles (whichever comes first) for their basic "bumper to bumper" warranty. The average basic warranty for new cars in the same class is only 3 years/36k miles. Although the 10 year/100k mile powertrain warranties for Hyundai, Kia, and Mitsubishi are not transferrable, the 5 year/60k mile basic warranty is! Different manufacturer's warranties may vary, so this article is technically just my opinion.
Why does Hyundai, Kia, and Mitsubishi offer longer coverage than the rest?
I can't speak for the companies themselves, so this is technically theory. I also want to point out that I have never worked for a Hyundai, Kia, or a Mitsubishi dealership, so my theory is unbiased. So, here it is... These three brands used to be thought of by many as "cheap," meaning low in quality as well as price. What could help fight that assumption better than an awesome warranty? If you offer significantly longer warranty coverage than your competitors it shows that you really stand behind the quality of your product. Other brands have done this in the past. As quality increased and consumers started to recognize it, these companies eventually shortened the duration of their coverage. Again, I have to say this is theory, because none of these companies have ever admitted to this. This is all based on my experience in the car industry.
Chrysler and Chevy used to have a 5 year/100k mile powertrain warranty. At one time Chrysler actually had an unlimited powertrain warranty (07 to 09 models)
for the original owner! It seems to me that as the reputation for better quality has increased, the warranty durations have decreased. Chevy (GM) and Chrysler (just to name a few) have cut their
powertrain warranties from 5 years/100k miles (transferable) to 5 years/60k miles within the past few years. To better illustrate the reasons for my theory, read the quote from Chrysler's
website regarding the now defunct lifetime warranty.
Q6: Why did Chrysler change its warranty coverage?
A6:Our confidence level in our vehicles is very high. Our dealers are telling us that our products are the best quality they've seen in a very, very long time - maybe ever. So, we'd like to take this level of confidence and share it with you, our customers. This new powertrain warranty demonstrates our commitment to you as a Chrysler, Jeep or Dodge customer and the confidence we have in our ability to produce quality, reliable and durable vehicles. We want you to feel that same confidence.
The above faqs were from Chrysler's own website regarding the lifetime powertrain warranty. This only lasted about two years. The powertrain warranty then became 5 years/100k miles. In 2016 the powertrain warranty became 5 years/60k miles, which is now the standard shared by Ford, Honda, Chevy, Mazda, and most other popular vehicle brands. I worked at a Chrysler dealership for over 10 years, and over those years I noticed the quality of vehicles increasing. It seemed to me, and again this is theory, that as reputation of quality increased, the duration of warranty coverage decreased.
My point in all this is that as the perception of a vehicle brand's quality improves, it's not improbable that the warranty duration will be reduced. Hyundai, Kia, and Mitsubishi are putting out some VERY NICE VEHICLES these days. Their quality seems to be getting better and better every year. As of right now, those three brands offer the best new car warranties. Over time that can change. If you are budget conscious buyer who keeps vehicles until they just about fall apart, then A Hyundai, Kia, or Mitsubishi may very well be the way to go. I hope you find this article useful!