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The Effect Of Buying Extended Warranties When Taking Up Bad Credit Auto Loans

Bad credit auto loans are often time accompanied by high interest rates and stiff repayment terms and conditions. Thus as an individual when you take up a bad credit auto loan it is only normal and expected that  you would be spending more that you would have spent if you had taken up a normal auto loan.

Although bad credit auto loans are expensive to take up because they are accompanied by high interest rates there are several measures that you can take to cut down the cost of a bad credit auto loan when taking up one.

There are several factors and elements that all add up to increase the cost of a bad credit auto loan. Amongst all these factors high interest rate is the most prominent. Besides high interest rate, buying extended warranties and insurance can also increase the cost of the bad credit auto loan that you are taking or intend taking.

As an individual who intends taking up a bad credit auto loan it is recommended that you should avoid buying extend warranties even if the car dealership or salesman that you are transacting business insist that you must buy extended warranties from him or his affiliates.

The most effective way of escaping being coerced or forced to buy extended warranties from a car dealer or salesman is to go direct and apply for an auto loan directly from the lender. That way you can approach the dealership with a winner’s mentality and bargain with him on a level playing ground.

Not including extended warranties can greatly lower the cost of that bad credit auto loan that you intend taking.

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