| It's amazing how many people get ripped off | | | | Lexus, Honda, or Toyota because extended |
| after they have already closed the deal. You | | | | warranties rarely cover the costs incurred in |
| have the car you want, you got the price | | | | cars that are closer to the present time of |
| you're happy with and then it happens. They | | | | purchase. You will also want to get a |
| get you on the extras and the warranties at | | | | warranty that is effective immediately. You |
| that point and they can actually suck another | | | | will also want to get a warranty with a well |
| $1000 to $4000 cash or another $100 to $200 a | | | | established finance company and not one that |
| month. The extras are things like rust | | | | go belly up in a year. Don't purchase an |
| proofing, scotch guarding etc. It seems | | | | extended warranty directly from the dealer. |
| pretty straight forward but you would be | | | | Instead look at sites on for an online |
| surprised at how many people get taken on | | | | warranty because being online gives you all |
| these. What's really amazing is that you get | | | | the time to asses your warranty properly. |
| scammed on a car and say, "that's not going | | | | Keep a close eye out for your deductibles |
| to happen again!" Then 3 years later, Bam, | | | | because you don't want to get stuck paying |
| what the f...... just happened??? The | | | | for deductibles that you thought were covered |
| trickiest closing cost scam is the extended | | | | by the warranty. The following chart shows |
| warranty because the language used is so | | | | some of the extras that dealers try to get |
| confusing. This is not even the warranty that | | | | you on at closing. This can be very |
| the factory gives you for the car. It is a | | | | irritating how they try to weasel even more |
| warranty that covers the cost of fixing the | | | | money out of you in the end on stuff that you |
| car should it break down on you. To get | | | | really don't need at all. I mean, you already |
| around this, you have to know the dealer's | | | | paid a chunk of hard earned cash, but they |
| language and you should really get this part | | | | see it as, what's another $2000 or $3000? Of |
| down. Now although extended warranties often | | | | course, when you hear them explain the |
| do cover any repairs that you require during | | | | extras, they will all sound like you need |
| your coverage period, there is often some | | | | them NOW. It's bad enough that they will |
| information that you are not told about. For | | | | throw them up at you but look at this table |
| example, the extended warranty is usually | | | | to show how much they are really ripping you |
| effective only up to a certain amount of | | | | off by. Most Common Extras at Closing |
| mileage or term period; whichever happens | | | | Description Rust proofing -- Your price $800 |
| first. Make sure you have all the details on | | | | -- Dealers costs $40 Extended warranty -- |
| the terms if you decide to take on the extra | | | | Your price $1200 -- Dealers costs $300 Scotch |
| auto coverage. The warranty might also only | | | | guard -- Your price $300 -- Dealers costs $5 |
| cover certain types of problems. If your | | | | Car alarm -- Your price $400 -- Dealers costs |
| extended warranty doesn't cover every part of | | | | $100 Paint sealant -- Your price $300 -- |
| your car, why bother? It will cost you so | | | | Dealers costs $10 Credit/insurance costs -- |
| make sure it's worth it for you. Some | | | | Your price $200 -- Dealers costs $30 |
| extended warranties don't cover the larger | | | | Detailing, pin striping -- Your price $299 -- |
| engine problems or certain power train | | | | Dealers costs $30 Total of extras -- Your |
| issues, but just cover the smaller issues. If | | | | price $3499 -- Dealers costs $515 Extra |
| your engine conks out, you may be left in the | | | | monthly payment -- Your price $97 -- Dealers |
| lurch. Don't even bother considering buying | | | | costs $0 As you can see, these extras when |
| an extended warranty if you are only leasing | | | | buying a car will get you in the end. If you |
| the car for a small time period like 36 | | | | can, you should avoid them all together. They |
| months. Perhaps it is better only for longer | | | | are worth far more to the dealer than they |
| periods of leasing like 60 months. Many | | | | are to you. Understand what you want and/or |
| extended warranties don't cover everyday wear | | | | need and stick to your guns. |
| and tear policies, only breakdown problems. | | | | |
| If you do insist on getting an extended | | | | Get valuable tips and links for car buying, |
| warranty, get one that covers you for both | | | | car quotes, car loans, car buying mistakes, |
| occurences. You will only really want to get | | | | car scams to avoid and so much more. |
| a warranty on a more dependable car like a | | | | |