Should I Buy an Extended Warranty For My Used Vehicle?

Buying a Used Vehicle and wondering if you should buy  a warranty?

Consider the Cost ...


There are  many service contracts to choose from  and they can be  expensive. That doesn’t  mean they are all  rip offs , but you should  consider the likelihood of needing repairs, what those repairs may cost, and then see   if it makes sense.

There are a number of  factors to consider .... What is actually  covered,  How much is the  deductible, What is the length of contract.

Prices can  range from just a few  hundred dollars to a few  thousand dollars.

You’re   placing a bet  on if  you think your repair costs over the length of the contract will be more than you paid for the contract itself. If you paid $1000 for coverage that will last you about two years, you have to ask yourself if there is a good chance that over the course of those two years you’ll need to have $1000 or more worth of work done. If it isn’t very likely, you might as well save your money. But if you think that it  is a possibility, it might make sense.


Some of the Benefits

Many  offer a free loaner car when you have to take  your vehicle in for service. That can be  helpful if you’re in a situation where you need a car or don’t have many options for sharing a ride. Some pay for the cost of a rental car .  If you’re vehicle will be  in the shop for a few days, this can be a nice benefit to have. Some contracts also provide free towing service in the event you break down.
Some people are opting for a  “vehicle fund” to work as their  own extended warranty.

If you  put  money a side   in a  savings account   and sort of earmark that for unexpected vehicle repairs, your money can actually earn a little interest on it and  it  will be  readily available  if you need it.  You may  miss out on a few  of the added benefits of buying coverage, you’re in better shape if you’re fortunate enough to have a car that  only needs minor  repair or better yet ....doesn’t need any!

It’s like buying insurance. You never know if you will  need it, and if you don’t use it,  you  may feel like you  wasted  your money. But if you do need it, you are  sure glad you have it.

What Makes Car-Lotta Credit Different?

What makes us different??




Our loan process is quick and easy and we will treat you with dignity and respect.

Our Exclusive Car-Lotta Credit Warranty!

We have a professional, experienced, highly trained staff.

We have some of the best vehicles you will find!

We match the car, the payments and the term of the loan to your individual situation .

We are in this for the long haul. We will always be here when you need us.



We are The "Car Credit Specialists." This is all we do. We have Over 13,000 customers , 25 years experience and 3 Super Store Locations to choose from.



Remember ....

At Car-Lotta Credit and Car Sales we approve your loan, not some banker.

Should I be a Co- Signer or Co-Byer on an Auto Loan?

There are a  few things  to consider before you sign  for an Auto Loan.

If someone asks you to be a sign on a loan, you should  consider the borrower's character and ability to make the payments, and whether you could afford the debt if the borrower defaults.

 Remember .... If the loan goes bad, you have to pay it back. You  need to look at this as if  you were taking out the loan Yourself.



How a co-signer and co-buyer are the same:


1. Both are co-applicants and are also responsible for the loan. If the primary borrower is unable to meet the loan obligations, than the co-signer or co-borrower must make payments on the loan.



2. Both the co-signer and co-borrower are signatories on the loan. This means that in addition to the primary borrower, the co-signer and co-borrower both appear on the loan and sign the loan agreement documents.



3. If the  loan goes into default, both a co-borrower and co-signer can be subject to collection actionwhich can  include garnishment.



The difference:



Co-signer:

A co-signer is someone who signs your loan with you and is like insurance to the company you are dealing with. If for any reason, you fail to make a payment, the cosigner is responsible for taking care of it. This is why not many people will cosign for anything.




Co-buyer:


Co-buyers can split the overall cost of buying including deposit, payments, tax, and insurance. This allows you to multiply your income and afford a vehicle that you may not be able to afford alone

Why Do We Celebrate Labor Day?

Traditionally, Labor Day is celebrated by most Americans as the symbolic end of the summer. In high society, Labor Day is (or was) considered the last day of the year when it is fashionable for women to wear white.

Labor Day marks the beginning of the NFL and college football seasons. NCAA teams usually play their first games the week before Labor Day, with the NFL traditionally playing their first game the Thursday following Labor Day. Most school districts that started summer vacation in mid June will resume school near this day.



The first Labor Day in the United States was observed on September 5, 1882, in Boston, by the Central Labor Union of New York, the nation's first integrated major trade union. It became a federal holiday in 1894.Singed into law as a National Holiday by Grover Cleveland.



All Car-Lotta Credit locations will be closed Monday Sepetmber 3rd in observance of Labor Day.

We will re open Tuesday September 6th at 9:00.