Car Purchase Dilemma
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Joined: Jun 2004
Posts: 421
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From: Bay Area, CA
Hey guys-
I don't know if this applies to leases, but my CU offered me a loan insurance (if I took $0 down) that protected me if my car was stolen or wrecked immediately after purchase. In essence, they would pay for any difference the insurance co. paid me and what I owed from the loan. They would even apply $1000 toward my next car. If I remember correctly, it only cost $250 (Some dealers will also offer this @ about $450). I didn't take it because I put $5K down, but I think someone who is considering $0 down should at least enquire about it.
my .02
I don't know if this applies to leases, but my CU offered me a loan insurance (if I took $0 down) that protected me if my car was stolen or wrecked immediately after purchase. In essence, they would pay for any difference the insurance co. paid me and what I owed from the loan. They would even apply $1000 toward my next car. If I remember correctly, it only cost $250 (Some dealers will also offer this @ about $450). I didn't take it because I put $5K down, but I think someone who is considering $0 down should at least enquire about it.
my .02
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