“Unless your car loan
or the promo explicitly
states that you have to have loan insurance to qualify, it’s probably a predatory lending practice.
unlikely that an automaker would force you to have otherwise optional insurance; it’s similar to forcing you to have gap insurance
even if you don’t need it or want it.
You should consider walking away from this loan or at least ask to talk to a manager. Sometimes, salespeople will blow hot air to get their commission. Take this situation as an example and learn from it.
Full coverage can be pricey, especially if you use the lender’s insurance, but you can save money by comparing rates. Jerry
does all the hard work for you, pulling quotes from the top 50 companies and delivering the best deals to your phone in minutes. Jerry even does all the paperwork for you so you can just relax and enjoy your new car.”