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In BC, what should I know about add-ons and etching for car loans?
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Car Loan Glossary • bc

In BC, what should I know about add-ons and etching for car loans?

In British Columbia, add-ons like VIN etching, extended warranties, rustproofing, paint protection, and loan protection insurance are almost universally optional and carry substantial profit margins for dealerships. These supplementary products are frequently rolled into your car loan, meaning you'll pay interest on them over the entire financing term, significantly inflating your total cost of ownership. Under BC's Business Practices and Consumer Protection Act, consumers are empowered to decline these offerings without it impacting the vehicle purchase itself. Especially with higher interest rates persisting into 2025, financing unnecessary add-ons can drastically increase your monthly payments and the overall debt burden. It is critical to recognize that many of these services can often be sourced more affordably from independent providers, or may simply not deliver the long-term value proposition suggested. Always scrutinize these additional costs, insist on a clear breakdown separate from the vehicle's price, and confidently decline anything you haven't thoroughly researched and deemed genuinely essential for your specific circumstances.

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Related Topics: bc province topic

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