Finance managers have been known to present the product to problem credit buyers as protecting an auto loan which is actually a fairly accurate description. But the fact remains that credit-challenged borrowers, in particular, should have a basic understanding of how credit life insurance works.

A lemon law buyback is one of the possible outcomes you may encounter if you buy a car that's considered a lemon – one with significant, unresolvable issues. It might be seen as the most successful outcome of a lemon law case, where the manufacturer reimburses you for all vehicle costs. Let's take a closer look.

Extended warranties aren't the same as an original factory warranty. Warranties typically follow the vehicle, not the driver, however, this may not be the case with a service contract.

Extended warranties are service contracts you can purchase for a used vehicle. However, they don't cover every part of your car! Here's what an extended warranty isn't likely to cover.

When you're considering an extended warranty on your vehicle, it's important to weigh the pros and cons and decide whether you're OK spending money upfront that you might not see a return on for years. What's peace of mind worth to you?

Used cars are sold as is, which means you're responsible for any needed repairs after the purchase. However, buyers can opt to get a used car warranty, also called an extended warranty or a vehicle service contract.

When you're buying a used car, it may be worth it to purchase an extended warranty, also called a vehicle service contract. We explore what extended warranties actually are and what they're likely to cover.

GAP insurance is optional coverage that you can purchase for your car. But do you think you need it? Read on to learn more about how GAP insurance works on an auto loan.

You're required to have full coverage auto insurance when you have a car loan. However, your insurance only pays for the value of your vehicle if the worst were to happen, not the loan amount. GAP insurance, or guaranteed asset protection coverage, can protect you in these instances.

GAP insurance, which stands for guaranteed asset protection, is coverage that protects you and your wallet if the unexpected happens during your auto loan.