Four to get, five to forget
“Extended warranties” and similar products have a bad rap. Here’s why, and how you can figure out what's right for you.
They’re usually way too expensive when they’re bought at the dealership, and too often sold in a rush to buyers who don’t understand what they’re paying for. And, some “products” don’t make sense any way you look at it.
Outside Financial changes everything. We’ll help you to understand thoroughly at your own pace, and buy products that make sense – at great prices. We bring our consumer first (and always) attitude to product selection and recommendation – we bring you only the best.
So here’s the real deal: four products to consider, and five others that rarely pay off. Keep in mind that all of these products – and any other ones that a dealer offers you – are always optional. You don't need to buy any products in order to get a loan, from Outside Financial or anywhere else.
Four to Get
Vehicle Service Contract (VSC). VSCs, sometimes mistakenly referred to as extended warranties, are like health insurance for your vehicle. You pay a small amount each month, and the VSC company will cover all or most of the cost of necessary repairs, and deal with the mechanic for you. For an affordable monthly payment, you can ensure repair bills won’t upend your commute, or your life.
Learn more about VSCs
Guaranteed Asset Protection (GAP) Waiver. GAP protects you from a big financial hit when you can least afford it. Your car starts losing value as soon as you drive it off the lot. If it’s stolen or totaled, you’ll still owe the full loan amount, but chances are your insurance company will only pay you the current value of the car. You’re on the hook for the “gap” in between. GAP policies cover that difference, which can add up to thousands of dollars.
Learn more about GAP
Tire and Wheel. Drive in places with potholes or debris? Tire and Wheel protection can smooth the way. This product pays replacement or repair costs for tires and wheels due to damage from road hazards. It includes the cost of tires, mounting, balancing and valve stems, but doesn’t cover normal wear and tear.
Dent and Ding Dents and dings are all-to-easy to get – thanks to runaway shopping carts and careless car door flingers – but they can reduce the value of your vehicle significantly. A good Dent and Ding policy will put your car back in good shape without costing a fortune.
Five to Forget
Steer clear of these products, which dealers will often try to sell you after you're worn down in the back office. Just say no thanks, and ‘Go Outside’.
Fabric Protection. Buy a can of stain repellent. It’s the same thing, only a whole lot cheaper.
Rustproofing or Undercoating. Rust issues are virtually non-existent in today’s cars, thanks to advancements in factory-installed corrosion protection.
Paint Sealant. Save hundreds of dollars – and get a free workout – by rolling up your sleeves and protecting your car with a good wax.
Vehicle Identification Number (VIN) Etching. Save your money and buy a DIY etching kit for around $30. PRO TIP: Be sure to check your contract and make sure you haven’t been charged for this already by your dealership!
Security or Anti-Theft Systems. Save money and have a system installed by an auto security specialty shop authorized to work on your vehicle type.