A protection plan is an investment that limits financial risk. It provides peace of mind and helps you avoid financial strain when the unexpected happens — but choosing a plan isn't always a Sunday drive.
Here are five options for protecting your auto purchase and the situations that justify using them.
If you've ever received the famously annoying "Hello, I’m calling about your car’s extended warranty" robocall, then you've heard the term. While these phone offers are often 诈骗, car dealerships do actually offer legitimate extended warranties to car buyers who want extra protection.
Extended warranties provide additional coverage on your vehicle for a longer period of time or mileage. It costs between $1,000 to $5,000 and covers most repairs.
根据 《bat365中文版游戏下载》, a majority of people who purchased an extended warranty never used it, and those who did paid more for the plans than they got back in benefits. In most cases, extended warranties just aren't worth it.
An extended warranty is a good idea if...
MBI will cover almost any kind of breakdown in your vehicle caused by wear and tear. Mechanical breakdown insurance costs around $250-$500 per year and covers things like faulty transmission, a broken carburetor or a brake repair.
MBI does not cover regular maintenance and upkeep of the car, 比如更换火花塞, refiling fluids and changing the tires.
Mechanical breakdown insurance is a good idea if...
If the past two years have proven anything, it’s that there’s no telling when an unpredictable event will come along and put financial strain on you and your loved ones. 与 债的保全 关于你的汽车贷款, your lender may cancel your loan payments in the event of involuntary unemployment, 残疾或死亡. This is a good way to ensure that your family doesn't get saddled with the bills if you can no longer make a contribution.
One major advantage of 债的保全 is the fixed premiums throughout the term of the policy. Premiums are often rolled into the payments of the connected loan, making for easy monthly payments.
债务保护是个好主意...
债的保全 isn't exclusive to just auto loans. 在路易斯安那州立大学， 债的保全 can be added to consumer loans (unsecured and secured), credit cards, and home equity loans.
GAP (guaranteed asset protection) insurance ensures that you are not stuck paying for a car you no longer own. In the event that your vehicle is stolen or totaled, 保险的差距 pays the difference between the total amount of your auto loan and the value of your car. The cost of 保险的差距 is almost always paid-up front as part of the financing charges. Coverage is also available for eligible motorcycles, boats, RVs and campers.
GAP保险是个好主意...
这是一个令人不安的事实: 没有保险的司机 continue to be a concern for American drivers, causing several states to charge higher insurance premiums on average. 这也意味着 如果你在车祸中受伤, you cannot always count on the insurance of the at-fault driver to pay for the damage.
类似的, if you're involved in an accident with an underinsured driver — someone who only purchased the minimum coverage required by law — you could be on the hook for repair and medical expenses that aren't covered by the at-fault driver’s policy.
Uninsured and underinsured motorist coverage protects you from having to pay out-of-pocket should either of these situations occur. Coverage costs slightly less than other types of insurance and can save you from going broke from a crash you didn’t cause.
Uninsured/underinsured motorist coverage is a good idea if...
与 the right protection plan in place, you can safeguard your purchases and maintain financial wellness for years to come.
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