Blog

Generic selectors
Exact matches only
Search in title
Search in content
Search in posts
Search in pages
Print this blog

Finance Office Products

Congratulations! You chose a new or new-to-you vehicle. There's just one final step - meeting with the Financial Services Manager. And you ask yourself, What Extended Warranties and Paint Protection are right for me?

Let's take a moment to prepare for the Finance Office.

In the finance office, the managers work with you to get approved for your loan or lease, and sign the legal and deal documents with you. On top of that, the finance managers also provide protections for your car, such as extended warranties and paint protection.

If everything was offered at no-charge, everyone would opt for absolutely everything. They are all valuable great-to-have products. The truth is, you can spend hundreds or even thousands of dollars on the various packages offered in the finance office. However, most people opt for four products, on average.

But which ones are actually worth the expense for you? 

A good Financial Services Manager will get to know you, your lifestyle, and your needs first. Then will recommend only the products and warranties you truly should consider. At KIA Victoria, our Financial Services Managers suggest only what suits you and your lifestyle. They are there to guide you and help you make a great decision. 

But a bit of legwork never hurt anyone. In this article we’ll cut through the noise and let you know when you should consider investing in a protection package, extended warranty, or another form of coverage for your vehicle... and when to pass.

There are dozens of ways to protect your newly purchased vehicle. And there are countless companies and manufacturers that provide them. Here's a breakdown of the main ones.

Paint Protection Film

Known by many different names, 3M, Proskin, or simply a paint protection film, it is a thin polyurethane adhesive film that is used to protect the paint finish on your vehicle. Placed on frequently impacted areas like the front hood, front bumper, and mirrors, it protects your vehicle from rock chips, small scratches, and scuffs. The installation is backed by an 8-year warranty that covers certain defects. This is a particularly popular product if you drive on the highway, or visit places like Alberta or Mt Washington where they use a gravel mixture on their icy winter roads. Regardless, this is a great way to protect the exterior of your vehicle from rock chips and rusting. 

who's this good for? If you go on long road trips, you're a frequent skier, or you travel on snowy roads often

Rust Protection

Rust protection has evolved over the years. Now consumers have a greater variety of options to protect their vehicle from rust. It's important to note that all vehicles come with some form of rust protection that will depend on the manufacturer. This is for rust perforation and not visible rust. Your vehicle needs to be rusted through the metal or panel for coverage to apply. It does not cover rust that was caused by stone chips or any other road hazards. Protection over and above the manufacturer's comes in three different forms:

1. Undercoating

The oldest and probably most well-known form of rust protection is undercoating. Undercoating is the sprayed application of an oil or rubber-based composite onto the underbody of the vehicle. This tried and true method is designed to create a rust-proof layer between the underside of the vehicle and the water, ice, rocks, and salt on the road. The problem is it only protects the undercarriage of the vehicle and does nothing to address rust anywhere else on the vehicle. Over time, this layer will be worn down so reapplication of the undercoating may be necessary down the line.

2. Rust Proof Spray

Rust proof spray is applied to the inner cavities and crevices of the vehicle and bonds to the metal to stop rust from the inside out. You are also able to purchase a similar product commercially and apply the rust proof spray yourself. The advantage of going through the dealership is the professional application of the spray and the guarantee that goes with it should any rust form. 

3. Rust Inhibitor Module

A Rust Inhibitor Module is a small electronic device that is attached to the underside of your vehicle. In very simple terms, the device emits a low frequency electrical charge which, in turn, is supposed to 'repel' or prevent rust. The jury is still out on the effectiveness of rust inhibitor modules. Reviews of these products are almost always split between 5-star and 1-star reviews - people swear by them and people hate them. The most important part of any rust protection: do they guarantee their product? So, do thorough research on any offered corrosion inhibitor modules before committing. And keep in mind these are used to reduce the rate that corrosion happens, not completely stop it or reverse the process.

4. Soundshield

Soundproofing your car is a step-by-step process that starts from the ground up. If you're looking for an undercoating and you’re also dealing with annoying road noise, a spray on sound deadener will do the trick. So, if you have a loud truck/hot rod/performance vehicle, or drive frequently on gravel or other low quality roads, this is a good one for you.

who's this good for? some form of rust protection or sound dampener is good for most drivers. It's great for resale and for the longevity of your vehicle.

Interiors

A variety of products are available for the interior of your vehicle to keep it looking new for years to come.

1. Fabric Protection/Leather Protection

Leather or fabric protection is a preventative spray-on treatment applied to the interior of your vehicle. It helps prevent permanent stains on fabrics, and also treats leather interiors to hold up better over time. As with other forms of coverage, the importance lies in how the company backs its product in the event it doesn’t work. Many interior protection packages offer repair or replacement in the event a permanent stain does occur or your leather cracks. 

2. Rip Tear Burn Protection

This is a simple insurance against rips, tears, and burns. If the interior fabric/leather/vinyl on the seats becomes ripped, torn, or burned, this insurance will cover the cost of repair up to a maximum amount. However, it will not cover the cost of re-upholstery or any replacements.

who's this good for? this is great for everyone. Just like you opt for protection on your new couch or carpet, you cannot go wrong giving yourself peace-of-mind. it's Great for all car owners, but especially people with kids or pets, or commuters who eat or drink in their car.

Windshield Repair, Head/Tail Light Repair 

A small crack in the front windshield can lead to a big problem. Repair chips and cracks as soon as they happen to prevent them from getting worse. This insurance will cover the cost.  And with head/taillight repair, if your headlights, taillights, even fog lights are damaged due to road hazards, you’re covered for repair or replacement.

who's this good for? if you regularly drive on the highway this one is for you.

Paint Protection

A sealant is sprayed over the paint of the vehicle to better reflect the sun, and block out dirt, salt, moisture, and other pollutants that can degrade the paint on your vehicle. For those who park outside, additional coverage can be added for tree sap and bird droppings at an added cost. As with all previous coverages, look into how the company guarantees its product. It's also good to note how the claim process works for any paint imperfections or discoloration. 

who's this good for? in sunny, beautifully treed victoria, this is a great idea for everyone who parks outside. Blossoms, caterpillars, and bird droppings, and sun can kill your shiny new paint.

Tire and Rim Protection, Plus Curb Damage

Tire and rim warranties offer protection for the tires and rims on your vehicle from any road hazards like potholes, glass, nails & screws, fallen rocks, or debris from other vehicles. However, it is very important to note that this warranty will not cover driver error such as hitting a curb and damaging your rim. Look into how the claim process works and if it offers full coverage or is prorated to only offer partial coverage. 

who's this good for? If you live in a new housing development where construction is constant or have a vehicle with large and expensive tires and rims, this plan can potentially save you thousands. 

Key and Remote Protection

Replacing a lost, stolen or damaged key or remote transmitter is as annoying as it is expensive. The majority of new vehicles sold now come with keyless entry fobs that offer convenience. Unfortunately, this has increased the cost of producing keys by a large margin making any keys that you need to replace just became much more expensive. Key and remote protection covers the full cost of replacing your key or fob and the reprogramming needed to pair the new key to your vehicle. This is something you should consider if you have lost or broken keys in the past. So, weigh the cost of a key replacement versus the cost of the protection plan to make a more informed decision. Replacement plus programming is hundreds of dollars for the average car. 

who's this good for? if you've lost a fob in the past, you know the heartbreak of having to pay to replace it. If you've lost keys in the past, share this car with other members of your household (hello new teen driver), this is a option to strongly consider.

Dent and Ding Protection

Various forms of dent protection are offered by manufacturers and third-party companies alike. The cost and coverage of these plans differ greatly by manufacturer. Coverage varies from just dent repairs to all cosmetic damage so look into each plan carefully before deciding. Third-party companies can offer this service on used vehicles under a certain km limit. So, if parking your car between two others in a crowded parking lot gives you anxiety, this plan will help alleviate that stress.

who's this good for? if you park on the street or in busy parking lots often, this can save you thousands in cosmetic repairs and help you get the best resale value.

GAP Insurance

GAP insurance or Guaranteed Asset Protection is coverage in the event your vehicle gets in an accident and is declared a total loss or is written off. Often, when this happens, the valuation for the vehicle is worth less than what you owe on it due to depreciation. Frequently required for leasing a vehicle, GAP insurance is a good idea for those who put little or no down payment on their vehicles. It's also good if you drive high kilometres each year or are financing a vehicle over a long term. Or, if you simply want the peace of mind that you won’t be on the hook for the remainder of your loan in an accident. 

who's this good for? often required for lease customers, this is great coverage if you have a small down payment, drive above-average kms, or need additional peace of mind.

Loan and Credit Protection 

Similar to GAP insurance, Loan and Credit Protection provides coverage when unanticipated events leaves you unable to work, such as critical illness, sickness, injury, even death. Creditor insurance will pay your loan while you are unable to work or even pay off the vehicle completely in more serious circumstances. However, it’s important to note that creditor insurance is not limited to a car loan and can be applied to any loan such as a line of credit or mortgage.

who's this good for? this is excellent peace of mind for you and your family.

Extended Warranty

The last and potentially most important form of protection for your vehicle is the warranty. Manufacturers offer a no-charge warranty broken down into rust, roadside assistance, powertrain, and comprehensive warranty coverage. Warranty over and above this is usually in the form of extended powertrain and comprehensive warranty, or a more thorough comprehensive warranty that covers additional items on the vehicle. 

who's this good for? well, people buy from kia for many reasons including our reliability, best-in-class warranty, and value. an extended warranty protects over-and-above our gold standard. it is an excellent idea for anyone who keeps  their car LONG-TERM. it's also a must-have for used-car when  AVAILABLE.

Maintenance Packages

We all know maintenance is just part of owning a vehicle. A complex machine with many moving parts, and complicated computers/software, maintenance is best left to the expert. With Maintenance packages, you can prepay and save big.

who's this good for? Everyone. this is just a great idea. a well maintained vehicle has a higher resale value and offers greater RELIABILITY LONG-TERM for the driver and its passengers.

Conclusion

The sheer number and variety of protection packages means that you most likely won’t choose them all. However, armed with the information above you can decide for yourself which adds the most value for your specific situation. 

If you have any questions, feel free to reach out to us. We'd love to hear from you! We're always here to help.

 

Other Articles That Might Interest You!

Top 10 Reasons to Buy From a Dealership

How Much Car Can I afford?

How to Get Pre-Approved for a Car Loan

Links

Check out our NEW cars here.

Check out our USED inventory here.

Book an appointment to chat or book a test drive here.

Get your ride appraised here.