How to Find the Best Quotes for Warranty and Gap Insurance
Gap insurance: People want to find the best insurance possible, but even so, they end up losing money on their car if it is written off. This happens because new and old cars lose their depreciation very fast. Gap insurance saves you if your vehicle is destroyed or stolen and you owe more than it's worth to your lien-holder. It covers the difference between what your insurance will pay you and the amount of your loan.
Warranty: This is a written guarantee that is issued to you by the manufacturer of your car, with a promise to repair the car if necessary but within a specified time period. You can get an extended warranty if you think you need it.
This article will give you a few tips on how to get the best Gap insurance and warranty, respectively.
1.Don't buy from the dealership. It's best to do some research on how much gap insurance costs. One you know, buy the insurance from your insurer and not the dealership. The quote that you get from the dealership will give a much higher price due to factors like the loan and interest.
2. Have collision and comprehensive insurance coverage. To pay your lien-holder the remaining amount through gap insurance, the actual cash value of your vehicle should already be paid out by an insurer.
3. Know your coverage. Some companies will go past the cost gap and pay lease payments. Some will include extended warranty as well. It varies from company to company, and you need to decide what you require in order to get the best quote. Have your questions ready and study your policy. Get a Guaranteed Auto Protection quote from several companies to determine which one is best for you.
4. Rating services. Do a final check with rating services Standard & Poor's to gauge the financial stability of the company.
Since a basic warranty is already provided to you by the manufacturer, what you can apply for is extended warranty. To get the best quote for your extended warranty, here are a few tips.
1. Warranty backed by automaker. Most dealerships offer warranties backed by companies who have unreliable records. So get the best quote by making sure that your extended warranty offered by the dealer is backed by the automaker.
2. Best price. For the best price, you will need to do your research at other dealerships so you can compare prices. Also, even if the dealer says there is no room for negotiation, there is always some room. If you have prices of other dealers, it will give you leverage to negotiate for a better price.
3. Know your coverage. An extended-warranty isn't a repair-all. Some car parts that will eventually wear out completely are not covered by the extended warranty. There are also tiers of coverage, so you need to know which tier will cover how much. If you have complete information, you will be able to negotiate better.