If you are in the market to buy a car, you may have been warned about dealer add-ons. And it's absolutely true that you will want to completely avoid some of them. Rust proofing, anyone? On the other hand, not all automotive add-ons are worthless. Depending on your particular situation, there may be one or two products or services offered by your dealer that you could find beneficial.
What You May Wish to Consider Purchasing
As with anything that you buy, you will need to mentally run a careful cost benefit analysis on any add-on feature in order to determine whether it is worth spending money on or not.
- Extended Warranties: If you are planning to keep the car that you're purchasing for a very long time, having an extended warranty is not a bad idea. Just make sure that you get a good price for the coverage that you purchase, and keep in mind that if you include this cost in your loan, you will be paying interest on the warranty along with your vehicle. You may also want to check around and see if you can get a better deal on extended coverage from a non-dealer source.
- GAP Insurance: This kind of insurance can really come in handy if you're buying a new car. Brand new cars depreciate a great deal very quickly, and if you are involved in an auto accident after owning the vehicle for a few months, your regular auto insurance will only cover what the car is actually worth, and not what you still owe on the loan, which can be substantially more. However, if you have GAP insurance, the difference between the real vehicle value and the balance of the loan will be paid for you. But, again, it may be possible to find a better deal on this type of coverage than what your dealer is offering.
What May Be Worthwhile for Some Buyers
While most people will do better to just skip certain add-ons, the following may be useful to certain individuals:
- Pre-paid Maintenance Plans: You may be better off handling your own maintenance, but if you're the type of person who has a tendency to forget things, you may find the structure in these plans helpful.
- Wheel Protection: Are you particularly hard on your wheels? If so, this feature won't be entirely a waste of money.
- Low-Jack Anti-Theft Device: If you live in an area that has an exceptionally high crime rate, you may benefit from having this device at your disposal.
The Importance of Having the Right Financing
Regardless of which add-on features you choose, the most important part about buying a car is finding the right auto loan. This is especially crucial if you have challenged credit, and you're looking for a fair deal. And Auto Credit Express can help you to get approved for affordable financing, no matter what your credit looks like.
Just fill out our fast and secure online application to get started today.