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- What is covered by the Powertrain warranty?
- Do I need a VSC?
- Why should I buy a VSC?
- Are you telling me, my car is going to break?
- Do I need to buy a vehicle to take advantage of a VSC?
- What is "GAP"?
- How does it work?
- What is Total Loss Protection max amount of payout?
- What should I have Total Loss Protection?
- What is the Average cost of repairs on my vehicle?
- What does average cost of repairs mean to me?
- How does financing work?
- What will my rate be?
- I'm a "first-time" buyer, what do I do?
- Should I Finance or Lease?
- Should I Finance or pay cash?
- I have incurred financial hardships in the past and I want to buy a vehicle, what's my next step?
Q - What is covered by the Powertrain warranty?
A - The Powertrain Warranty only covers the internally lubricated parts inside the engine, transmission and drive axles. The Powertrain Warranty does not cover the computers, fuel injection system, Water pump, alternator, starter and the wiring harness (among others). Ask a professional.
Q - Do I need a VSC?
A - This all depends on your driving and purchase needs. If you drive less than 12,000 miles per year and purchase a brand new vehicle in less than 3 years (based on a 36 month 36,000 mile limited Warranty), there should be no need to purchase a VSC. Ask a professional.
A - If you drive more than 12,000 miles a year and/or you plan to keep or finance your vehicle for more than 36 months (typical finance term is 66 months) a VSC may be a wise investment. Ask a professional.
Q - Why should I buy a VSC?
A - A VSC may save you time, money and control your monthly budget when repairs are needed on today's high tech vehicles, once the factory warranty expires. Ask a professional.
Q - Are you telling me, my car is going to break?
A - Today's vehicles are high-tech electromechanical computerized machines. In many circumstances, today's vehicles are equally technical to planes. Ask a professional.
A - The chances of having a major failure within the engine or transmission on today's vehicles are low, due to the ability to maintain these components. Unfortunately, components such as the Air conditioner and heating systems, navigation systems, telematic systems, safety (ABS brakes, air bags, collision sensors), rear cameras and computer systems, cannot be maintained. These and most other components in a vehicle are not designed to be maintained. A VSC may pay to replace and/or fix most of the non-maintainable systems and components in today's vehicles. Ask a professional.
Q - Do I need to buy a vehicle to take advantage of a VSC?
A - No, a VSC may be purchased (or financed) on your vehicle post-sale. Ask one of our Business Managers if your vehicle qualifies. Ask a professional.
Q - What is "GAP"?
A - It's actually Total Loss Protection commonly referred to as "gap". Total Loss protection is coverage protecting against what you owe versus what your insurance company will give you in the event of a total loss accident or theft. Ask a professional.
Q - How does it work?
A - When your vehicle is considered a total loss by your insurance company, your insurance company issues you a check for what they value the vehicle. Unfortunately, it is rare that what they value the vehicle for will actually cover the entire balance of your loan. Total loss Protection will cover the difference in your payoff and pay your insurance deductible up to $1000.00. Ask a professional.
Q - What is Total Loss Protection max amount of payout?
A - Total Loss Protection will cover 100% of the difference no matter what your original payoff is and not matter what your insurance company will give you, excluding any accrued amounts for late deficiencies. Ask a professional.
Q - Why should I have Total Loss Protection?
A - *To Cover negative equity from your trade vehicle
*To prevent having to payoff a vehicle you can no longer drive
*To make it possible for you to get a new loan for another vehicle after a total loss
*For complete peace of mind. You may be able to account for your driving habits but not others, natural disasters or theft. Ask a professional.
Average cost of Repairs
Q - What is the Average cost of repairs on my vehicle?
A - The average cost of repairs can vary greatly. Generally speaking the more miles you drive and the longer you keep ownership of the vehicle beyond the time and mile limitations of the Factory Warranty, the greater your cost of repairs. The more complex the vehicle (computers, modules, technology, options) the more the vehicle generally requires to repair. Ask a professional.
Q - What does average cost of repairs mean to me?
A - Cost of repairs are one of the aspects that influence the total cost of ownership. Your total of payments along with vehicle maintenance, fuel, insurance and cost of repairs make up your total cost of ownership. While not much can be done to limit fuel or insurance, cost of repairs and maintenance can be limited/mitigated by a VSC or Pre-paid maintenance, respectively. Ask a professional.
Q - How does financing work?
A - When you have selected your vehicle a loan application can be submitted on your behalf to finance that vehicle. Depending on credit worthiness the lender will provide a deal structure including but not limited to length of loan, amount of loan, interest rate and equity stipulations. Ask a professional.
Q - What will my rate be?
A - Many factors come into play when a lender determines interest rate for a loan. There is no "one size fits all" for automotive approvals. Some of the considerations for a lender may include: amount of loan, equity of loan, payment to income, debt to income, open trade line for applicant, closed trade lines for applicant, creditworthiness, length of loan requested, previous history, Fico/Vantage score and more. For a more in-depth and specific answer to this please Ask a professional.
Q - I'm a "first-time" buyer, what do I do?
A - We have many lenders that have customized programs for first time buyers. Each customer, loan and vehicle is unique. To start the process or for more information, Ask a professional.
Q - Should I Finance or Lease?
A - It's personal preference. Leasing has grown in demand over the last 5 years. Many customers trade their vehicle every few years anyway and they many benefit. Most clients want to see both options before deciding. Contact one of our Business Managers for a more in-depth explanation.
Q - Should I Finance or pay cash?
A - Both forms of payment are graciously accepted. With interest rates extremely low it may not make sense to displace a large amount of your own capital into a depreciating asset. Many customers can find a bigger return for their capital including investments or even paying down a mortgage (typically higher rates than auto loans and an appreciating asset).
Q - I have incurred financial hardships in the past and I want to buy a vehicle, what's my next step?
A - We have experts here to help. Our recommendation is to make an appointment with one of our Business Managers and they will help to put you on your path to a successful car experience.