Car Choice Comes Last for Bad Credit Buyers

Here at LivAuto auto loan, we often receive comments from consumers who are looking for their next car. Typically, people who are looking for an auto loan tend to pick out a car first and look for financing second. This process may work for someone with good to great credit, but for many people—especially those with bad credit—the process works differently.

 

Take this customer who recently wrote to us about finding a vehicle:

“I'm looking for a dark purple car would love to get Camaro but I would be willing to get a different model like Impala or even an SUV but I can't afford a new one…”

To be clear, we are not a car finder or a finance company. We help people with bad credit get connected to local special finance dealers who can help people get the vehicles they need.

Why the Bad Credit Process is Different

Wanting a particular car is one thing, but when you have damaged credit, it's more important to get what you need—or what you can afford—rather than trying to find the exact car you want. This is due to the fact that when you are looking for financing with bad credit, you first have to get an approval from a subprime lender.

Subprime financing is typically needed when you have a credit score around 640 or lower. This type of auto loan is done through indirect lenders who work with special finance dealerships. Not all dealers have subprime lenders, so choosing the right one to meet your needs is important. Once you have found a dealer with a sub prime finance department, you will need to sit down with the special finance manager, fill out an application and submit the necessary documents.

You will need to provide:

  • A valid driver’s license or state ID.
  • Proof of income – your most recent check stub.
  • Proof of residence – a current utility bill in your name.
  • Proof of a working phone – a landline or cell phone from a national carrier, in your name.
  • Six to eight complete references – including names, addresses, and phone numbers.

Once you have completed this process, the dealer will transmit your application and documentation to the lender. The lender will either approve or deny your loan request. If you are approved, the lender will transmit a “payment call” to the special finance manager with the program you qualify for along with any additional requirements.

Choosing Your Vehicle

Once the lender has approved your auto loan request, the dealer will present you with a list of eligible vehicles that you qualify for, based on the information from the lender. Then, you can test drive them and choose the one you like that best fits what you need.

The good news is your choice of vehicles will typically be restricted to those that are less than 10 years old and with less than 100,000 miles. It is also good to note that your loan term can vary depending on vehicle mileage and model year.

As you can see, when you are dealing with subprime financing, choosing a vehicle comes at the end of the buying process, rather than the traditional loan process where you choose your vehicle first, then get financed.

5 Times When You’re More Likely to Get in a Car Accident

Accidents, collisions, and fender-benders. No matter what you call them, they happen a lot and could affect your auto insurance rate. In Canada, about 335 police-reported collisions happen a day, and while you should always take care when behind the wheel, there are times, or conditions when collisions are more likely to happen.

1. Summer months

Most drivers might think that they’re more likely to get into a collision when conditions are wintery, but the reality is there are more collisions in July than any other month, followed by October and August.

2. Frantic Fridays

Maybe it’s because we’re all in a rush to get home to kick off our weekend, but for many, our, weekends start off on the wrong foot. Almost 17 per cent of all police-reported collisions in Canada happen on Fridays; no other day comes close.

3. The evening rush

Hands down, the evening rush hour (starting at 3 p.m. and ending at 6 p.m.) has the most collisions. This three hour period of the day accounts for 25 per cent of all collisions that happen over the course of the day.

4. Intersections are tricky

Intersections, even with working traffic signals, controls, or signs, prove tricky for drivers because half of all collisions happen at an intersection.

5. Sunny days make drivers gloomy

At 70 per cent, collisions are overwhelmingly more likely to happen on days that are clear and sunny, compared to days when it’s raining, snowing or when visibility is limited due to fog or drifting snow.

Car collisions and your car insurance

Take care, stay safe, and drive carefully to keep your car insurance premiums in check because a collision where you are at fault (even if it is only partially at fault) can be costly. An at-fault collision can increase your premiums as much as 50 per cent. Don’t let an at-fault accident increase your rates. Drive safe and avoid driver distractions to keep your premiums low.

Is Auto Loan Refinancing Right for You?

Refinancing your auto loan means replacing your existing loan with a new one from a different lender. Your current loan gets paid off by the new lender and you start making monthly payments, hopefully, smaller ones, on the new loan.

If you think your credit has improved since you bought your car, you should look into auto loan refinancing. There’s a good chance you can lower your interest rate and end up with a smaller monthly payment. You might also be able to shave some time off the loan, or go the other way and extend the term of the loan if you’re having trouble making your monthly payment.

What’s the catch? There isn’t much of one: It takes some time, and your credit profile might take a slight hit when you apply for the new loan. However, know two important things:

  1. Most auto loans don’t have a prepayment penalty so refinancing won’t cost you anything.
  2. Submitting an application for refinancing has no application fees, and the funds become available quickly, often within a day.

Why you might want to refinance

The prospect of paying less interest or lowering your monthly payments are the main reasons to consider refinancing. Let’s say your current auto loan has a 10% interest rate, and you’ve been making payments for a year or so. Chances are, your credit has improved and you could now qualify for a lower interest rate, which could lower your monthly payments. If you simply went to your current lender and asked it to lower your rate, it would probably say no. After all, you signed a contract at a certain interest rate and the lender wants its money.

Lucky for you, in today’s competitive market, plenty of other lenders are eager to get your business. When you refinance, you simply go to another bank, credit union or online lender and show it how much you still owe, called the balance of the loan. It pays off your existing balance and creates a new loan; and you start sending your monthly payments to the new lender.

If you meet the requirements, refinancing your car loan for a smaller payment could allow you to put more into savings, investing or a home improvement project. Or you may be able to pay off your car sooner. All of these options are better than pouring your money down the drain by paying more interest than you need to on a car loan.

When refinancing your car loan makes sense

Refinancing your auto loan could be the right move for reasons other than your improved credit. Even if you’re satisfied with your current loan, it doesn’t hurt to see if you can save money on interest. It makes sense if:

Interest rates have dropped. Interest rates fall for a variety of reasons: a changing economic climate, increased competition in the banking industry, even regulatory changes. If interest rates are lower now than when you first got your car loan, refinancing is likely to lower your rate and could help you pay the loan off sooner. Or, it could save you money on interest. It only takes a few minutes to apply for refinancing and see if a new lender — a bank, credit union or online lender — will offer you a lower interest rate.

A car dealer marked up your interest rate. When you got your existing loan, the car dealer might have charged you a higher interest rate than you could have qualified for somewhere else. This often happens to shoppers who don’t check their credit score before buying a car. They are persuaded to take the dealership’s loan because they didn’t shop around for the best interest rates. But you can undo the damage by refinancing and getting a new loan at a lower interest rate.

You can’t keep up with payments. Maybe you got overexcited at the dealership and bought a car that’s really too expensive for you. You might be struggling to keep up with payments. Or maybe you’re facing unexpected financial challenges because of a job change or other circumstances. By refinancing your car loan, you can take more time to pay it off, and this will lower your payments. You should think carefully before taking this course of action: If you extend the loan term, you’ll pay more in interest over the life of the loan. That’s not optimal — but it’s better than damaging your credit by missing payments.

What is Full Coverage? Understanding your Car and Auto Insurance Policy

 

Do you know what the term "full Coverage" actually means when it comes to your Car or Auto Insurance policy? 
The truth is that "full Coverage" is a very loose term that does not have an exact definition. Insurance companies do not offer a full Coverage option for you to pick. The term full coverage is generally associated with comprehensive coverage and collision coverage but can be interpreted many ways.

State Minimum Requirements

Every state in the U.S. has the ability to set its own state minimum requirements for auto insurance. In the State of Florida, The state minimum requirements include 10,000 per person and 20,000 per accident for bodily injury liability and 10,000 in Personal Injury Protection.

Comprehensive
Physical damage for all the things that can happen to your vehicle other than a collision is covered by comprehensive coverage. Full coverage cannot be possible without comprehensive coverage.

Collision
The collision is the coverage that gives you the broadest coverage and is always included in full coverage auto insurance. Collision coverage ensures your vehicle will be covered regardless of what causes the damage. Collision covers damage for all accidents and since collision cannot be purchased without comprehensive coverage anything other than an accident will still be covered.

Additional Coverage that is not necessarily included with Full Coverage 
Towing
Car Rental Coverage
Uninsured Motorist

To be sure you are fully protected from every scenario it is a good idea to talk with your agent and ask him to explain what your policy covers and what optional coverages are available.

Auto Security: Do Feds Have Our Back?

Consumers should be aware of the possibility of a hacker attack on their cars. We now know that what used to be considered a movie scenario — remote hacking — could be done.

The current reality is that, while a variety of connectivity technologies have been transfused into cars, the equal and opposite security measures are yet to be deployed.

Surely, car hacking is the last thing automakers want to mention as they push the connected cars into the vast consumer disconnect. But government watchdogs in both the U.S. and the U.K. are working to get ahead of the curve and let the public know that they are concerned.

"Whether we're turning vehicles into WiFi-connected hotspots or equipping them with millions of lines of code to become fully automated, it is important that they are protected against cyber-attacks," said Martin Callanan, a minister in the Department for Transport at the British government.

He said this last week when the U.K. agency issued new guidelines, requiring manufacturers of Internet-connected vehicles to put in place tougher cyber protections to ensure a stronger shield against hackers.

It isn’t just the U.K. The National Highway Traffic Safety Administration (NHTSA) in the United States also issued last fall the federal guidance to the automotive industry for improving motor vehicle cybersecurity.

Questions to ask
So should we all sleep well, confident that the feds have our back?

Not so fast, Gracie.

Questions that come to my mind include:
1. Do the guidelines issued by NHTSA and British Department of Transportation have any teeth for security enforcement? 
2. More important, have they gone far enough to suggest effective cybersecurity measures for cars?
3. What are the differences in the proposals of the two separate governments?

As Roger Lanctot, director automotive connected mobility in the global automotive practice at Strategy Analytics, told us, “All of the work and guidance today is advisory vs. compulsory in nature.” Things will become real, in his opinion, “when financial and liability consequences are in fact defined.”

Sources of vulnerability in connected cars are many. Lanctot listed: “diagnostic ports, hobbyist/enthusiasts, dealers, suppliers/supply chain, criminals and terrorists to say nothing of incompetence, bugs, and the management of multiple onboard systems crossing domains with different development standards.”

Facing so many areas inside cars that must be protected as cars morph into always-on computing devices, it isn’t easy to come up with comprehensive guidelines. And yet, “Regulators need to demonstrate they are doing something,” said Lanctot.

How do security experts see the development of government guidelines?

Gene Carter, vice president of products at OnBoard Security, for example, believes that “both the U.K. and NHTSA guidance documents included basic security tenets.”

He explained such measures should be followed by any company connecting hardware or software to the web — including security by design, defense in depth, principles of least privilege, etc.  In Carter’s opinion, however, these are basics. “I would hope that the automakers have learned enough from the IT world’s experiences, and they [should be] already doing those essential things.”

A few experts, including Carter, pointed out that the U.K.’s guidance does not go far enough in the area of software updates after a vulnerability is discovered.

How Many Cars Can Be Insured on the Same Policy?

Is there a limit to the number of cars that can be insured under the same policy? How many vehicles can you cover under one policy? Today, we’re answering all your questions about multi-car insurance policies – including how to save money on a multi-car insurance policy.

Multi-Car Insurance Is an Easy Way to Save Money

If you live in a household with multiple vehicles, then it’s in your best interest to insure your cars under one policy (unless, of course, your spouse has a DUI or some other major incident that would cause insurance rates to rise).

That’s why multi-vehicle insurance policies exist. Multi-car insurance policies are built for households with two or more passenger vehicles. These vehicles are covered under a single policy. You pay less than you would if you insured each car individually, and you save even more money by bundling vehicle insurance with your home insurance or life insurance.

The benefits of a multi-car insurance policy are obvious. However, there are certain requirements to qualify for a multi-car insurance policy.

Requirements for a Multi-Car Policy

There’s one obvious requirement for qualifying for a multi-car insurance policy: you need to insure two or more passenger vehicles on the same car insurance policy.

To do that, you’ll need all of the usual information – like the VIN and lienholder information (if applicable) for any vehicles, as well as the driver’s license numbers for all drivers. The information required for a multi-car policy is no different from a single-car policy, aside from the fact that you’re listing multiple vehicles.

Is There a Limit to the Number of Vehicles Under One Policy?

Insurance companies almost always have a limit to the number of cars you can cover under a single insurance policy.

Typically, insurers allow you to cover a maximum of four of five vehicles under a single policy.

Other Restrictions with Multi-Car Insurance Policies

There are certain other restrictions you may need to know about with multi-car insurance policies. Some companies offer a discount only if the insured cars are in the same household and insured by related parties. If you’re living with unrelated roommates, for example, then you may not qualify for a multi-car insurance policy.

Other insurers, however, only require everyone to live at the same address, and they don’t care whether or not you’re related.

Another important thing to note is that you could qualify for a multi-car insurance discount in the middle of your term. Some people instinctively wait for the end of their term to add a new vehicle, when they could be taking advantage of the discount immediately.

Does the Coverage for Each Vehicle Need to Be Identical?

This is where things get a little tricky. Typically, insurance companies require all vehicles under a multi-vehicle policy to have the same amount of liability insurance and uninsured motorist coverage. This is done to ensure there’s no confusion regarding how much liability coverage each vehicle has.

In other words, if you have a liability limit of 100/300/50 on your first vehicle, then you need to have those same limits on your second vehicle.

This isn’t just your insurance company being nitpicky: state laws often require liability limits to be the same for all vehicles under a single policy.

Policyholders, however, are free to adjust collision coverage and comprehensive coverage between vehicles. You might want full coverage on your brand new SUV, for example, while getting rid of collision and comprehensive coverage on your 10+-year-old vehicle.

You can also add, remove, or adjust add-ons however you like – including things like rental car reimbursement or custom car coverage. You’re totally free to add this to certain vehicles under your policy but not others.

There’s one important thing to remember with all this: the insurance company insures your vehicle, not the driver. If your primary vehicle has full coverage, but your secondary vehicle has no collision or comprehensive coverage, then that doesn’t change when someone else drives it.

You Can’t Insure Cars and Motorcycles Under the Same Policy

The only other restriction you need to know about is that motorcycles and cars cannot be covered under the same multi-car insurance policy.  Motorcycles require a motorcycle policy – not an auto policy. However, you may still be eligible for a discount by ordering through the same insurer for both policies.

Connected Cars Create New Security Challenges

Connected cars are essentially computer networks on wheels. The dashboard is now the control center for telecommunications, web surfing, car diagnostics, navigation, and a host of other functions. The rolling computer network monitors the car’s systems using built-in sensors to make sure everything is running properly. A wireless connection can also be used to send telemetry to the telematics service provider or the manufacturer to facilitate service and update software. Once a vehicle is connected to the internet it becomes susceptible to hacking.


Car hacking is the latest in a long series of consumer security threats and has been getting a lot of attention in the news. Major carmakers including BMW, Mercedes-Benz, General Motors, and Tesla have already had to address car hacking threats. Clearly, automotive hacking is posing a safety concern. And as consumers demand more from their connected cars, it will likely mean hacker attacks will target personal data and private information as well.

What Are the Primary Motivators for Hackers?

Hacking has a life cycle like almost everything else in the world. The initial wave of hacking is based on an inherent desire to ‘see what is possible’. This is both the cause of great innovation and the beginning of the opening of a Pandora’s Box. Once something is known to be ‘possible’ there is a natural attraction to the hacker communities, who are seeking some level of self-gain. In the automotive arena, there are currently two or three use cases where a hacker may be motivated to take advantage of vulnerable vehicles. 

We believe these can be summarized into three categories:

  • Phishing Attacks - Hackers take a long-term view of gaining an economic return for their efforts. The point of phishing is to ‘learn something of value’ about a person or a group of people. They are casting a very wide net.

  • One to One Attacks - Let's face it, some people are more interesting than others and hackers are going to go after high-profile opportunities. Sometimes this is just to make a name for themselves and other times it is to target an enemy of their cause.

  • Mass Attacks - What motivates the hacker is to make a big splash and hacking a mass number of vehicles would generate a lot of buzz in the media. We can all imagine the economic impact of waking up one morning and finding that an entire set of vehicles can’t start due to a hacking incident, or worse, that there has been a rash of accidents caused by hackers remotely interfering with cars while they are been driven.

While we think the chances of a major event remain remote at this time, we cannot continue to believe that vehicles are ‘islands’ protected from foreign elements by their disconnected nature.

Manufacturers Need to Be Proactive about Hacking

Over the last year, the high-profile car-hacking events in the news have dramatized the vulnerability of the connected car. 

Using simple wireless communications systems, hackers have demonstrated that no connected car network is safe:

  • BMW was one of the first to report a hacking incident. To dramatize the vulnerability of the new connected cars, the Allgemeiner Deutscher Automobil-Club (ADAC), the German automobile club, was able to reverse-engineer the telematics software that controls BMW’s Connected Drive system, which is installed in more than 2.2 million vehicles. Exploiting security weaknesses in the software, ADAC was able to access the air conditioning system, traffic information system, and the door lock controls using a wireless computer.

  • Chrysler suffered a similar embarrassment when two hackers were able to shut down a Jeep by remote control. In a profile published in Wired magazine, the hackers were able to take control of a Jeep Cherokee traveling at highway speed, first operating the windshield wipers, taking over the radio, and ultimately shutting down the vehicle altogether by locking the transmission.

  • Tesla was also the victim of a cyber attack. Two mobile security experts demonstrated their ability to hack a Tesla Model S at the Dev Con hacker conference in Las Vegas. In order to hack the Tesla, they first had to gain physical access to the vehicle’s network infrastructure to introduce a Trojan. Once the virus was inserted, the hackers were able to convince the car that their laptop was the car’s controller, allowing them to take command, including the ability to shut off the engine.

While all these hacking incidents demonstrate the vulnerability of the connected car, how these carmakers dealt with the problem demonstrated manufacturers’ preparedness to deal with hackers. Chrysler’s approach was the old school ‘sneaker net’ approach, essentially shipping USB drives with a software patch to 1.4 million car owners. BMW’s solution was more elegant; they were able to develop a patch and then send it wirelessly to all affected cars so the software update was automatic. Tesla had the most sophisticated solution. The company already sends regular software updates wirelessly to all its vehicles, so the software patch to fix the security bug was ready for delivery.

What this demonstrates is that with connected car advances, OEMs need to be prepared to address security problems before they occur. Patching faulty software is one thing, but OEMs need proactive security measures to protect vehicles, such as firewalls and data encryption to protect vehicle telematics.

One of the interesting thoughts that arise out of this discussion is what role the consumer should play in security management for their vehicle. In the computing space, consumers play a fairly active role. Will they necessarily play a similar role in the vehicle? Do OEM’s want consumer consent and participation in applying updates?

Personal Security Part of the Connected Car Risk

Security to promote driving safety is a primary consideration. However, manufacturers are also going to have to start thinking about securing personal data as well.

As cars increasingly become an extension of today’s connected lifestyle, car owners will start storing sensitive data in their car systems to handle music downloads, toll payments, and other transactions. Credit card information and identify theft are attractive targets for hackers and something automakers need to consider.

For example, a hacker could set up a wireless sensor to access credit card data stored in cars driving past a given location on the highway. Hackers wouldn’t even have to go looking for targets; the data drives right past their door. Or what about hacking navigational data? If you can match a car’s GPS location to a known home address, then a housebreaker can tell when you are away from home.

To address these security concerns, Senators Richard Blumenthal (D-Conn.) and Edward J. Markey (D-Mass.) have introduced the Security and Privacy in Your Car Act, also known as the SPY Car Act. The legislation would establish a rating system for consumers to rank how well cars protect security and privacy. The senators’ proposal also asks the National Highway Traffic Safety Administration (NHTSA) to establish new standard of protection. These standards would require OEMs isolate software systems and take steps to secure connected vehicles. They also want to require technology that would detect, record, and stop hacking attempts in real time.

Smart OEMs are becoming proactively involved in connected car security. By being proactive and taking positive steps today, manufacturers can become part of the security solution and help shape industry standards and legislation. They also can be ready to reassure customers that the next generation of connected cars is safe and secure.

How To Save Money On Car Insurance

Are you a driver under age 25? Are you the parent of a new driver? Then buckle up, because you’re about to head uphill with your car insurance rates. While it’s true that auto insurance rates are higher with a young driver on the policy, there are a few secrets to keeping those rates as low as possible. Follow our survival guide to car insurance so that buying a policy for the first time or adding a teen to your existing policy won’t be so scary after all.

Understand That Your Rates Will Increase

Teens and young adults are considered to be “inexperienced drivers” by insurance agencies until they turn 25 years old. And because agencies are assuming more risk with an inexperienced driver, they charge more to have that driver on the policy.

If you’re a parent, it’s hard to say just how much your insurance will increase with a teen driver because so much of it depends on individual circumstances. According to an Allstate agent who spoke with Aceable, for some people, adding a teen to their insurance only increases it by a few hundred dollars, while for others, the cost of the policy can triple. Meanwhile, if you’re under age 25 and buying car insurance for yourself, the price is almost guaranteed to be higher than it would be for someone older. That’s why it’s crucial to compare policies and find out which agency will give you the best discount. 

Know When To Add Your Teen To Your Policy

It’s tricky to know when to add your teen to your insurance policy because it differs by state as well as agency. For the most part, however, you won’t need to list your teen as a driver on your policy until they get their license. It’s a good idea, though, to notify your insurance agency as soon as your teen gets a learner permit. This way, in the event of an accident, you’ll know if they’re covered by your policy.

Consider Switching Insurance Agenics

Adding a new driver to the family brings about many exciting changes. (Less carpool duty for you, hopefully.) During this time of change, you might also consider changing insurance agencies to better suit your needs. Your current agency might not be the most affordable option, and in fact, it might actively be using pricing to get rid of you! Even if you’ve been with the same insurance company for years, now might be the perfect time to shop around.

Use An Aggregator To Shop And Compare Plans

An online aggregator for insurance companies is the fastest, easiest way to compare policies. There are several available to you.

Look For Extra Discounts

With a young driver on an insurance policy, you’ll want to scrounge up any discounts that you can. Check with your insurance agent for discounts related to: taking a defensive driving course, making good grades, driving a fuel-efficient car and more. 

Feeling a little more sure of yourself when it comes to car insurance? Good. Trust us: This process is way less scary than you think. And if you do need help, remember that Aceable is here for you every step of the way!

Refinancing your auto loan

Whether you can’t manage the monthly payments or your credit has improved, there are plenty of reasons to consider a refinance. While there are different motivations for replacing your current loan, it is important to understand the outcomes of an auto refinance. Here are some of the benefits that could help you save.

Lower your monthly payments

If you are struggling to make your monthly payments, you may consider a refinance. A refi can increase the term of your loan, giving you more time to pay off the note. This extension can help you better manage other monthly expenses by lowering your car payments.

Reduce the length of your loan

Some borrowers look to shorten their loan term to help pay off the vehicle faster. While this increases your monthly payment, it can decrease the overall interest you pay which saves you money down the line.

Decrease your interest rate

If your credit score has improved since you purchased your vehicle, it might be time to shop around for a new interest rate. A lower rate can reduce your total interest charge which can help you pay off the vehicle faster. A good rule of thumb is to seek rates in the low single digits.

Let the Travis Credit Union be your resource for buying or refinancing your vehicle. We offer great low rates for auto loan purchases or refinancing. We also offer quick loan processing, an easy online loan application, and other great options when financing your auto loan. Visit Livauto.com/autorefinance to learn how you can start saving today.

Auto Warranty Scam Warning



It has been reported that a variety of companies and marketing firms have been making unsolicited calls to offer customers an automotive extended warranty. When a customer is told that the warranty is about to expire, if they are not educated to the warranty business or their vehicles coverage may sometimes believe anything a telemarketing agent says. Unfortunately in almost every case they are creating this information out of thin air with hope that they can scare or pressure a customer into purchasing warranty coverage for their vehicle. This is obviously a dishonest practice but is borderline illegal as well.

It is also been reported that a variety of third-party companies have been sending a postcard a flyer in the mail with the same general information hoping to coax a customer into calling them so they can attempt to sell them warranty coverage. This process is a high-pressure process, usually involving several levels of sales professionals to try and close the deal.

What these companies never tell you is that in many cases, your car may still be covered by an existing warranty as they have no knowledge of the vehicle’s actual existing warranty status.

Also, there are many levels of warranty coverage that are available that are generally not explained in clear detail to a customer. They simply sign you up, collect your money, and then send you documentation later where you find out there are many loopholes that would allow a claim to be denied. This is assuming the company even has a claims department and any legitimacy at all.

In most cases, you may have simply given money for a product that either doesn’t exist or is not an actual insurance company product.

If the company does have any legitimacy, not having an underwriter simply means that in the event that they have any type of claims activity at all, they can easily be wiped out as they very rarely leave much money in a claims fund to protect the consumer.

The bottom line is a customer’s best option is to reach out to a legitimate warranty provider that is directly underwritten by a US-based, “A” rated carrier. The other option of course is to visit a local dealership and find out what they are offering. The downside to this is that dealerships are generally 50-100% more expensive the same level of coverage you can get in the automotive warranty aftermarket.

The bottom line is you will almost never hear a radio ad or receive a notice by mail from any legitimate warranty company so buyer beware!

If you are looking for warranty coverage a great place to start would be www.livauto.com where you can get wholesale pricing for the industry’s highest level of coverage.