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Extra Options to Consider or Avoid when getting a Car Loan

Updated on December 3, 2011

Financing a New or Used Car and the extra options

If you are going to finance a new or used car and it comes time to discuss the options to add on, you want to make sure you are really needing the add on. Depending on the dealer and salesperson, you may get some real pressure to opt to add these on. It might be presented as a real need, but consider the cost vs. the benefit before you commit to buying.

It is always nice to have the "extras, but do you really want to pay a possible premium price for them? Do you really even need the extra options?

Extended Warranties Extended warranties can be helpful depending on how much you will use your car and if it is a bumper to bumper warranty. I know our family has benefited from getting an extended warranty in the past, but it is because the cost was very affordable for what we were getting. My husband also doesn't ever work on a vehicle, and so it is worth it to us to do this. It was a great investment at least once for us. Here is the thing, you don't want to pay full price for an extended warranty. Some people can get up to 50% off of the warranty. Often you can add this on later, and don't have to do it now. I always like the no pressure now kind of options. If you sense very high pressure and no budging on the price, just pass for now.

Anti theft Devices and Rustproofing

Anti theft devices are helpful to some people and unnecessary to others. It all depends on where you life, crime rate, where you work and will be parking your car, if you need this option or not. You can shop around however, or do your homework in advance to know whether or not you are getting a good deal at the dealership. Sometimes you can get the price marked way down.

Rust proofing is probably not really a necessity, but again depending on where you live it might be. It can tend to be rather expensive as well. Some people say its just another way to get you to part with your money and into the hands of the dealership. Just don't be naive and assume you need this or the many other things being suggested. You can always change your mind later on and get it elsewhere or maybe even there.

Life Insurance and Inside and Outside Care Packages, and Sound Systems

It always struck me a little odd to be offered life insurance at a dealership, but some do. I would recommend against this. I would rather buy life insurance from my reputable life insurance agent than getting a policy through a car dealership.

Car Care Packages

Outside car care packages sound really nice, and after all you really want to care for your new car as best as you can, right? Well, while it makes your car look very good, these packages have a nice markup very often. I have seen it suggested that there are times you can get the price reduced 50 - 60%. Some have figured out ways to keep that package, but not pay for it at all as you are making the deal. Some people opt out of this car care package but invest a little of their own money and do those things themselves.

Inside care packages have the same basic advice attached. Some people are really into this kind of thing, and if that describes you, at least try to get a greatly reduced rate.

Sound Systems We all have to have music for driving! I can't imagine not having music while driving, and you are probably not that different. Some listen to talk shows, or just tune in for weather and traffic updates. Regardless of your reasons, consider that there are a lot of sound systems from outside the dealership that sound great and often cost less. Again, doing some simple searching around for what systems are costing, plus their installations, you can get a good idea of whether or not the offer you are getting is a good one or not.

*Note* You don't ever want to be insulting to the dealership or salesperson by going super low just to get them to have a "counter" that is more in your liking. Some can be very insulting, and it can wreck the whole experience, and not get you what you are wanting at all. This guide is just that, a general guide to give you a heads up on what might be things to consider.

Have you ever been offered a lot of "extras" at a dealership that you werent sure you really needed?

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    • oceansnsunsets profile imageAUTHOR


      7 years ago from The Midwest, USA

      Thanks for that Phoenix!

    • PhoenixV profile image


      7 years ago from USA

      Great hub, thanks.


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