How much is auto insurance for a Mitsubishi Lancer?
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UPDATED: Aug 21, 2019
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The auto press says that the Mitsubishi Lancer is a stylish, affordable compact car with excellent handling capabilities, as well as a spacious cargo area and comfortable seats.
However, U.S. News and World Report speaks for many automotive journalists when it bemoans the 2011 Lancer’s “lethargic” acceleration and “spartan” interior.
U.S. News points out that car buyers with smaller budgets don’t have to settle for subpar performance and features.
For just a few hundred dollars more than the 2011 Lancer’s $15,295 base price, drivers can purchase an equally sporty-looking Mazda 3, which features superior acceleration and higher-quality cabin amenities.
Consumers who are in the mood to splurge might also consider a 2012 Volkswagen Golf, which costs a few thousand dollars more than the Lancer.
Although it doesn’t look as fast as the Lancer, the Golf’s interior is luxurious for a compact car, and it delivers abundant power and precise handling as well. Otherwise, keep reading for average auto insurance rate estimates for the Mitsubishi Lancer and competing compact cars.
Mitsubishi Lancer Auto Insurance Rates
Estimates from the National Automobile Dealers Association (NADA) indicate an average 5-year auto insurance premium of $5,484 for the Mitsubishi Lancer.
Drivers who pay for their auto insurance annually will need about $1,097 to cover their bills, and drivers who pay monthly will have bills costing about $94. These rate estimates are calculated for drivers who have more than six years of proven on-road experience, though.
With just three to six years of experience, you’ll pay about $10,362 over five years, according to the NADA. Drivers with less than three years’ experience will pay even higher premiums of about $15,821.
Accent drivers are projected to pay just $850 per year for car insurance, and Honda Fit drivers should pay about $831, according to estimates.
Yaris drivers should expect annual car insurance rates of approximately $835, and anticipated rates for the Ford Fiesta are also significantly lower than the Lancer’s, at $853 annually.
For instance, the average Elantra owner is projected to pay $1,417 for auto insurance each year, and the annual car insurance estimate for the Corolla is $1,503.
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Mitsubishi Lancer Warranty and Repair Costs
The 2011 Mitsubishi Lancer is under limited warranty for five years or 60,000 miles, and its powertrain is covered for ten years or 100,000 miles.
This warranty is among the best in the industry, and it’s matched only by the protection plans for Hyundais, like the Elantra and the Accent, as well as Kias, like the Forte and the Soul. Although you would expect a longer warranty to result in lower 5-year repair costs, this is not the case with the Mitsubishi Lancer.
It’s true that the warranty will cover all repair costs until it expires, usually during the fourth or fifth year of ownership, but after it expires, the typical driver faces a repair bill of $1,500, according to the NADA.
This is more than twice the expected 5-year repair costs of $636 for the Hyundai Elantra, and $674 for the Ford Fiesta. The Toyota Corolla’s projected 5-year repair bill is $730, which is also less than half the estimated cost of the 2011 Lancer’s repairs.
The NADA expects that the cost of repairing a Honda Fit for five years will total $1,406, which is much higher than the Corolla’s projected costs, but still a bit lower than the Lancer’s repair costs.
The Mazda 3 should be somewhat more expensive than the Lancer to repair, with a projected 5-year rate of $1,627.
Mitsubishi Lancer Maintenance Expenses
Although estimated repair costs for the Mitsubishi Lancer are very high compared to those for many other compact cars, the Lancer’s maintenance costs are low. Drivers should see bills of about $152 and $176 for years one and two of ownership, respectively.
For the third year tune-up, they’ll shell out about $1,270, and they’ll face bills of $522 and $316 for years four and five. This will result in a total bill of about $2,435 over five years.
This estimate is quite a bit lower than the projected cost of maintaining a Hyundai Elantra for five years, which is $3,743. It’s also lower than the Toyota Corolla’s anticipated routine maintenance bill of $3,430, and less than the projected $3,220 bill for the Honda Fit.
Scheduled maintenance rates for the Ford Fiesta are slightly higher than the Lancer’s, too, at $2,651 for five years, and the Mazda 3’s rates are nearly the same as the Lancer’s, at $2,442.
Safety Ratings for the 2011 Lancer
The Mitsubishi Lancer was rated a “2011 Top Safety Pick” by the Insurance Institute for Highway Safety (IIHS). This designation means that in all four of the IIHS’ standard crash tests, the Lancer earned a “Good” rating, which is the best of four available scores.
The crash tests that are conducted assess the car’s crashworthiness in the rear, front, and side impacts, as well as the vehicle’s roof strength.
The IIHS also requires that vehicles with the “Top Safety Pick” designation feature standard electronic stability control, which the Lancer does.