ditto. What we have here in NY is called GAP insurance. It covers the difference between the loan amount and what the vehicle is worth if an accident were to happen. You would want to buy this if you dont put any money down. I'm not sure what it stands for but if I had to gues....General Auto Protection...
GAP insurance is NOT mandatory and varies in amount between banks. Generally it's $95-150 depending on purchase price and bank financed through.

It's best to not put any money down and purchase GAP insurance for $150. Then if you drive for less than a year and have a total loss, your only out $150- rather than all the money you put down on the loan intitially. After a year or so is up, put that "down payment" you would have initially, pay it on the loan. It doesnt bring the monthly payment down, but it'll reduce the overall length of the loan.

 

What are these 'environmental fees' you mention? And where are you located, because 'hst' doesn't sound like a US thing.

Rob

 

HST is a canadian thing.

Gap insurance - if you have a decent auto policy you don't need it as a seperate policy. Ask for a replacement cost policy from your normal insurer, costs a couple bucks more but covers you if you drive off the lot and immediately total the truck.

 

I bought disability insurance to cover my loan from the dealership. I looked back on my contract today, it was listed for $525.00. Covers every possibility (of disability/death) within the duration of my loan payments, except being unemployed.

One of the funniest situations during negotiating a trade-in I ever encountered, in which the dealer "tried" to slap an additional $750 to my loan to cover costs of inspecting my trade-in. I suppose that may seem legit in some rare cases, however my vehicles are kept in immaculate shape. Fortunately I noticed this prior to signing the purchasing contract.

 

Ther is a 100% perfect reason why they are called "STEALERSHIP`S".
I am totally blown away at what some of these "hiddin" fee`s are, that they are ripping some of you people off with. Read and understand exactly what you`re signing before you ink the contract with your name. When in dought, call`m out. If i were getting charged with some of these "so-called" extra fee`s, i would call my state attorney general and have an investigation opened up on them. Nobody wins on the "buyers end" of the contract, they`ll try to get you somehow, but only if you let them. It makes me really wonder if some of these fee`s are actually really REAL laws or just made up to steal more money from you. You would likely be very surprised when you question whats in your contract and how fast they`ll change their minds and NOT charge you for it. I`ve NEVER met a dealer that didnt try to rip you off somehow within the contract... as a matter of fact, i`ve caught every dealer trying to add in stuff on every vehicle i`ve ever bought, when i questioned it, all they said was.... ohhhhh, that wasnt supposed to be added in, sorry about that, i`ll have that removed.... yeah, dam right you will.

 

My 2009 Hemi SLT has no rust (and 85,000 km on it...50,000 miles) and my buddy's 2005 Ram with 200,000 km on it has one small rust spot on the tailgate. We're both located just outside the Toronto area where a lot of road salt is used. If you intend to keep you vehicles for a long time, as I do, I'm a big believer in an annual oil spray. I use Krown (not sure if they are available in the 'States). They don't just spray the underbody, they drill small holes and spray oil everywhere--inside rocker panels, etc. Where the holes are drilled, they apply a heavy grease and then a plastic cap. About 6 years ago my '99 7-Series BMW started to develop some rust on the trunk lid and the body shop recommended I get the car oil sprayed. They didn't provide the service but the bodyshop owner said all his personal vehicles get it, and his 15 year-old GMC pick-up was rust free. The oil spray won't fix existing rust of course, but it prevents it from spreading and helps prevent new rust.

 

Oil spray will do nothing for metal that is ALREADY inferior before you even buy it.

 

I've been in the metal finishing industry for 30 years...plating, pre-treatment, and paint (both liquid and powder). Protection of the base metal is critical to preventing corrosion. HIgh quality steel, low quality steel...it all rusts if it isn't protected. Steel parts hanging on a conveyor line after spraywashing but prior to painting will flash rush in a matter of hours.

Oil and water do not mix. Hence, an oil coating on a part will repell water. It also prevents the formation of ferric oxide (rust) on the surface of steel.

By all means, if you feel oil will not protect steel then don't bother with oil spray. To each his own.

 

with the economic situations, its hard to say whats a fair price for these 4th gens. I paid 20k under MSRP. It was 47k and I paid 30k after taxes (before trade), but I bought a last years model during crisis time. I know others that paid close to MSRP in '09 and thats the best they could do... it was a fair price at the time. MSRP dropped in '11 and '12 if I'm not mistaken. I traded in my 2010 camaro. the used car dealership sold it for more than a new camaro costs. Things are certainly crazy and it really is near impossible to say what is "fair" after the fact. Now if you got scammed its a different story, but assuming you didn't do anything stupid and it was fair when you bought it, what things are now is hard to say.

I teach college courses and I loive to use the automotive industry because its a slow moving industry, but the rules of supply and demand still apply. MSRP is what it is- Sometimes you pay it, sometimes you underpay it. I bought my camaro for over MSRP- It was worth it. I was one of the first people in the US to drive one, and I had no regrets. last winter the same car could have been bought for almost 10k under what I paid. Its worth LESS now even though the MSRP is pretty much the same.

 

Yep, definitely pays to look at the previous year model when the new ones start hitting the lots. My cousin in upstate NY bought the last of the 3rd Gens, an '08 when the 4th Gens just started to roll on the lots.
They were not only not coming off sticker but were adding a $2500 "in demand" fee to the 4th Gens.

He bought his '08 QC Hemi 4x4 Ram, ThunderRoad package that had a sticker on it for $46,800 for $23,400 plus T,T & T which was roughly $6700 less than I paid for my '04 new off the lot...