Purchasing 101, what are the things to look out for?

[jeisensc]

@Stonksonlygoup

Captive or non Captive financing: Captive (better rate with 0/60 and no rebates).

I would say this isn’t always the case, especially if there are cash incentives or special financing. Need to do the math.

@Stonksonlygoup

F&I products. family member is not interested in any products but GAP insurance. I assume tho insurance would be the best provider on this?

Great thread

Don't be a dummy like me in the F&I department

TLDR; Don’t be a dummy when you get to the finance and insurance department. First off… thanks to everyone that posts here for your knowledge. I was a first-time leaser and even though I read many posts here, I still got run over when I got to the F&I guy. I am putting this here as a cautionary tale, but also would like some advice on the best way to proceed. I had read many things here on LeaseHackr about how to evaluate deals, but unfortunately, not enough on what to do once I got in the F&I…

I’m not aware of any GAP insurance if you purchase or finance, someone will correct me if I’m wrong. That’s a risk you take when purchasing (bank doesn’t share or assume that risk, like a lease).

Depending on the vehicle, if I’m buying:

• extended warranty (if I’m planning to keep a modern car 5+ years, I would not roll the dice on any electrical component, especially a hybrid/PHEV/EV). I would research like the car, in some cases I want the first-party (eg ToyotaCare), but sometimes the JM&A or a third party is fine. But I will get a claim during the expected life of that vehicle that will make that worthwhile.
• Always do the math on wheel & tire or maintenance.
• Etch, LoJack, paint/interior protection, tint, key replacement, dent, accessories etc are a no. Anything I want I can do elsewhere, outside the deal, when I have time to research and shop.