According to U.S. World & News Report, the following five makers offer the best warranties:
- Genesis
- Hyundai
- Mitsubishi
- Kia
- Jaguar
Yet, keep in mind that just because a car dealer offers a good warranty, that doesn’t mean that it’s a good buy.
For instance, Genesis cars have some of the worst fuel economies on today’s market, still adding to the lifetime cost of ownership.
Additionally, there is no “one-size-fits-all” warranty. The warranty plan you choose will depend on your situation.
Types Of Car Warranties
When you buy a car, pre-owned or otherwise, the dealership may offer you a choice of warranties.
It’s not as simple as g on the dotted line and getting the keys. You should carefully consider the cost of repairs when choosing a plan.
Some motorists even forgo getting a warranty altogether––which can prove disastrous for their finances.
Here are three of the most common types of warranties:
1. Manufacturer’s Warranty
This plan typically is typically offered through the manufacturer or dealership. Basically, it covers all issues associated with the manufacturing process.
So, for example, suppose that you drive your car off the lot and experience a problem with the timing belt. If this issue is related to its production, the manufacturer could cover the cost of this repair.
How long this warranty lasts depends on how often you drive your car and for how long. It typically does not cover things like oil changes, flat tires, and other wear-and-tear problems.
2. Adjustment Warranty
This is intended to for minor “adjustments” in the days following your initial purchase.
These could range from subjective repairs (meaning things that don’t need to be addressed) or repairs that could evolve into bigger problems later on.
Depending on the dealership, your adjustment warranty could expire within months of buying your car.
3. Secret Warranty
According to Real Car Tips, sometimes, even after your warranty runs out, the car’s manufacturer will still pay for some repairs.
This could happen in instances where cars are recalled, you’ve been loyal to the carmaker in the past, or just connect with the right person.
Be Wary Of Any “Add-Ons”
Most people are wary of dealing with car salespeople––and for a good reason. These professionals make a lot of money not only on selling cars but also through selling optional coverage.
According to the Federal Trade Commission (FTC), these add-ons sometimes overlap with the warranty that already comes with your car.
So, for example, suppose that you’re looking for a plan that covers powertrain issues, meaning problems with the car’s steering and engine.
Those issues might already be covered under your warranty, so there would be no need to buy an add-on that pays for those repairs.
Be sure to cross-reference your warranty with a potential add-on. You might find that the two are either extremely similar or virtually the same.
These Car Manufacturers Offer The Best Warranties
Earlier, we mentioned that Kia, Jaguar, Genesis, Hyundai, and Mitsubishi have great warranty plans. Here is some more insight into those options:
Kia, Genesis, Hyundai, and Mitsubishi Have Great Powertrain Warranties
If you go to the mechanic and they tell you that you have a powertrain problem, you can get ready to whip out your credit card; these repairs are often very labor-intensive and expensive.
However, if your warranty covers this, you could only have to worry about entertaining yourself in the waiting room.
Kia, Genesis, Hyundai, and Mitsubishi all offer powertrain warranties for the first 10 years or 100,000 miles––whatever comes first.
Your car’s powertrain is a catch-all term that refers to the:
- Engine
- Transmission
- Front and rear-wheel drive systems
- Internal components like gaskets, seals, and belts
You don’t want to put off repairing your powertrain if you run into a problem; doing so not only compromises your safety but also could threaten your car’s overall functionality.
Kia, Genesis, Hyundai, and Mitsubishi Also Have Great Comprehensive Warranties
Comprehensive warranties (also known as “bumper-to-bumper warranties”) typically cover almost everything involved in your car’s operation, including tires, brake pads, and other vital components.
These carmakers offer this form of coverage for the first five years of ownership or 60,000 miles––again, whatever comes first.
Jaguar Stands Apart From The Rest
While Jaguar doesn’t offer the same benefits as Kia, Genesis, Hyundai, and Mitsubishi, its warranties are nothing to turn your nose up at.
Consider the following:
- Jaguar offers a comprehensive warranty for the first five years or 60,000 miles.
- It also covers your powertrain issues for the first five years or 100,000 miles.
There are some exceptions, like if you purchase the Jaguar I-Pace, one of the maker’s only electric models.
Warranties for these vehicles can cover the battery for the first eight years or 100,000 miles of ownership.
Do You Need An Extended Warranty?
Once your comprehensive warranty runs out, you might be eager to buy another few years of security.
This would involve buying an extended warranty, which would essentially “extend” the amount of time your initial warranty covers.
Keep in mind that this could be expensive, though. According to Consumer Reports, most people who elect for extended warranties pay for this coverage than the actual repairs are worth.
So, really, you don’t need an extended warranty if you feel comfortable with your car’s current condition.
The Takeaway
So now you know which carmakers offer the best warranties. However, the right plan for you depends on your vehicle, including its year, condition, and functionality.
Whichever plan you choose, don’t forget to read the fine print. Taking a few minutes of your time to read things over could save you a bundle in the long run.
