CAR LOANS
And do you need it?
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What it does
Loan minus car value
Paid if the car is totaled.
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Insurer price
Per year, estimated
Usually the cheapest route.
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Dealer price
One time, estimated
Often rolled into your loan.
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Who needs it
Long loans, leases
If you owe more than it's worth.
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Theft
If never recovered
With comprehensive coverage.
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Not covered
Late fees, warranties
Often not your deductible.
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Paid off early?
Ask the dealer
Unused gap is often refundable.
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Tip
Payoff vs. value
Drop gap once you're not upside down.
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Buying or leasing a car?
Read the guide
nexgenheadlines.com
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