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

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

In the Yukon, as across Canada, add-ons like VIN etching, extended warranties, paint protection, and credit insurance are almost always optional and represent high-margin products for dealerships. Dealers are legally obligated under consumer protection laws to disclose that these are not mandatory for loan approval. Rolling these additional costs into your car loan significantly inflates the principal, leading to higher monthly payments and a substantial increase in the total interest paid over the loan's term, a crucial consideration in the current (2025) interest rate environment where even small increases compound over time. Many of these offerings provide questionable long-term value for their price, and consumers often find more cost-effective or comprehensive alternatives from independent providers for services like rustproofing or extended coverage. It is imperative to critically evaluate the necessity of each add-on and decline them unless you have thoroughly researched and genuinely determined a specific need, fully understanding the financial implications. Always review all loan documents meticulously before signing to ensure you are not unknowingly agreeing to unnecessary charges that will burden your finances for years.

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Related Topics: province topic yt

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