Monthly Archives: March 2014

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Auto Insurance Tricks And Tips That Everyone Should Know

Automobile insurance coverage extends far beyond vehicle protection for just your car. It is meant to protect you, the other cars and people on the road. Before you buy a new auto insurance policy, make sure it has all the coverage details you need. The following tips will give you some insight that can help you make the most informed decision on your insurance purchase.

Think long and hard about what type of insurance coverage is needed. Some options will not make sense for your life or situation. If you car is worth something, however, you will need to get collision coverage to replace or repair your car in the event of an accident.

In order to keep premium costs down, do not swap vehicles between different members of the family. By keeping one driver attached to each vehicle, you can keep your costs low.

Car Insurance

Instead of spreading out your car insurance payments, pay it yearly or every six months. Car insurance companies can tack on anywhere from $3-$5 on average a monthly bill. These little sums add up very fast to something more substantial. This can be troublesome with your other bills. It is much better to have fewer payments.

Property damage liability is important to buy with any auto insurance policy. This liability will cover damages your car causes during an auto accident. There are only 3 states that do not require you to have this coverage. Property damage liability can save you major bucks in an accident.

Take this information into consideration and review your policy. When you know what you to look for, you may be surprised at items that are lacking in your coverage. See if there are any places where it may be beneficial to you to head back to your agent for a new policy.

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Selecting A Car That Is Around A Year Or So Old Is Cost Effective

Although everyone loves the smell of a new car as well as the pride that comes with owning a new car, it could be worth your while to buy a car a year or two old. Investing in a new car is something I was warned against before by my grandmother. A car that was around the two year mark with not too much mileage is specifically what she said I needed. This should show that the car I ended up owning was in fairly good order especially since any work that had been needed on it up to that point would have been carried out.

Even though this made sense to me and I happen to be living by that theory ever since, you will find other reasons why buying a car a few years old is a good choice. I am going to now look at the savings that can be made when you buy a car that has been on the road a while and yet still relatively new.

I don’t know if you understand it or not but once you buy a new car and drive it off the dealership the value of the car just drops by thousands of dollars. Perhaps you believe you have bought a car that is the best value for money if you paid $25,000 for instance but in reality you haven’t. As soon as you leave behind the car lot, a new valuation of $20,000 could be the asking price for your car. So in a matter of a couple of minutes and a few miles you just lost $5,000.

Go ahead and purchase a brand-new car if you think I am being extreme. Afterward drive it nowhere else but straight home. Head off to the showroom the day after and see what valuation they place on your car then. With regards to trading in the car you can expect anywhere between $15,000 and $20,000 and this covers a car you bought for $25,000 the day before.

This has been the marketplace tradition for many years. It’s transforming in some situations where there is a thirty day window to get a 100% trading in valuation for your car from the original dealer. Basically, after 30 days, you still have to acknowledge that you are looking at a loss of $5,000. This deficit could possibly be greater if merely selling the car is something you are considering.

A two year old car will not suffer that kind of decrease when you are purchasing it from a car dealer in the same way. If perhaps there has been issues with the car these should have previously been solved as my grandmother originally stated. The distinction between a new car and a used car without a lot of miles, is in favor of the latter on this basis.

It really is worth remembering these factors whenever you are making car purchase decisions. You may have to give up the attraction of a new car to end up with the most cost effective transaction.