Quote:
Originally Posted by a6pk2go
There is also a pmi insurance I believe if you don't have at least 20% down on the car. This is one place a dealer will make some money.
|
See rolnslo's post, PMI is Personal Mortgage Insurance if you have under 20% down on your mortgaged house.
You are likely thinking about what he mentioned, GAP insurance, which if they don't rip you off for it is very important to have. Some dealers will try and nail you for a few hundred bucks, it should be under $100 for this coverage (price is IIRC, I haven't dealt with new cars for a while). Your car insurance company doesn't sell it, only the dealer.
Then God forbid a week after you drive off the lot you toss it off into a tree, you won't lose the $3000+ in depreciation your car has from just driving it off the lot.