Be Wary of Hidden Fees in Auto Loans in Everett

Be Wary of Hidden Fees in Auto Loans in EverettMost individuals in today’s society must finance large purchases like cars and homes. There are an abundance of financing types for these often expensive endeavors. If you are searching for a vehicle, your money is much better spent by looking at pre-owned trucks, SUVs, cars and mini-vans rather than buying new. There are numerous options for affordable auto loans in Everett for buyers of all price ranges and credit ratings. One thing to keep in mind is the ever-present “hidden fee” syndrome seen at many dealerships. Here are a few of those to look for and be wary of:

  • GAP insurance – Also known as guaranteed auto protection, this optional insurance covers the leftover amount that may be present between what your auto insurance provider will pay and the balance of your car loan if your vehicle is damaged, stolen or totaled.
  • Elevated interest rate – While you should expect to pay a higher interest rate with a low credit score, know that sometimes shady dealerships raise their interest rates to benefit themselves.
  • Pre-payment penalty – Be sure that there is no additional fee for paying off your auto loan early or at least be aware of it if there is one.
  • Extended warranties – Another optional fee, you may choose to add this to the term of your loan for one of the used Honda cars for sale for coverage of mechanical issues not typically covered by the manufacturer.

Get a spectacular deal on pre-owned cars and auto loans in Everett from Carson Cars today. Call us at (855)583-9356.

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