Now that we covered some of that tricky dealer lingo in the previous blog post and what kind of products to be wary of if you’re ever led toward a back room down a dark hallway, it’s time we cover a few of the extras you should keep in mind when shopping for a new or used car. “Back-end products” as we referred to them in our last post, can be beneficial or unnecessary and sometimes harmful. These extras are a way for dealerships to profit on services you might not be too keen on. That’s what we’re here for. We want to tell you about the good kind of extras today, the kind you may want to write down with a pen and paper.
Things can get overwhelming at the dealership when perusing cars, you’ve been eying through the screen for a while, debating between leather seats and stressing out about all the paperwork that typically comes along with purchasing a new ride.
At Suretys, we not only cut out the paper and the waiting time, but we also want to focus on empowering you, the consumer, to make the best decisions for you in a way that makes sense for your lifestyle. We like things to make sense at Suretys while saving you money, lowering your interest rate, like it’s no big deal.
We narrowed it down to the top 3 products or “extras” every first-time buyer should take interest in and consider. Of course, we offer some solid reasons for each.
Top 3 Extras You’re Going To Want To Pay Attention To At The Dealership
- 1. The Vehicle Service Contract
The Vehicle Service Contract otherwise known as, the “VSC” and sometimes referred to as, “an extended warranty,” is a contract that covers some of the most basic issues you may run into, like sudden repairs your car needs. You may remember on Blog Season One, episode 3 (“Josh Minsky: Why I founded Suretys”) in which Suretys CEO, Josh Minsky, reminisced about buying his first car, a doomed dark green 1999 Mazda Millenia that suffered from a dying radio and a broken air conditioner only one-month post-purchase. He didn’t have a vehicle service contract and repairs weren’t covered as a result.
VSC’s help buyers avoid unforeseen costs of repairs and avoid paying out of pocket. One can purchase a vehicle service contract during the time a car is still under the factory warranty, though coverage really begins once the warranty expires. It’s important to find out if the contract is inclusionary or exclusionary. Inclusionary contracts will list items that are covered, while exclusionary contracts will list items that are not. Overall, do your research, take your time, and trust yourself when shopping for a vehicle service contract. This way, if you ever do end up with a busted AC on a hot summer day, you’ll know you can count on getting cool, without breaking into a sweat over added costs. (Get it)? Overall, we’re giving VSCs a big yes.
- 2. Guaranteed Asset Protection Insurance
Otherwise known as, “Gap” insurance, this extra can be important and worth the investment if something happens to your car and if the car easily depreciates. Let me explain. Gap insurance protects you, the borrower, by paying off your loan if your car is stolen or totaled and you owe more than the car’s depreciated value. In simpler terms, Gap insurance pays the difference between the actual cash value and the balance still owed from financing your car.
- 3. Wheel and Tire Protection
Wheel and tire protection is there to cover what standard insurance does not. Many insurance policies will often exclude wheel and tire protection or hold limit on the number of claims a borrower can make per year. Purchasing wheel and tire protection allows for multiple claims if needed. If you live in a place where there are a lot of potholes or if you’re buying a luxury car, it can be a worthwhile investment to ensure you don’t end up with out-of-pocket expenses and can stay as protected as possible. It’s an extra to consider.
As always, our goal is to empower you to ask questions and to give you the opportunity to experience car buying on your own terms. We’re here to help you get ahead, lower interest rates, and save you money, today. We want to be your PlusOne and your significant other, so you don’t need to depend on anyone else but yourself. You’re more than your credit score and at Suretys, we see you beyond a number. Click for more info below to find out how Suretys can help you drive off in your new car in the right direction, toward independence.
Suretys knows buying a car is complicated. Convincing a parent or a friend to cosign for you adds a lot of pressure. What if you had your own PLUS ONE? Suretys replaces the need for a cosigner and becomes your PLUS ONE. The proof is all in the word “significant”: SIGN IF I CAN’T! Suretys takes the weight off while you take the wheel. Learn more https://plusone.suretys.com/ to join the movement.