Insurance and car buying- they go hand in hand

Spring time creates a lot of activity for car buying. Here are some "do's and don'ts" so your experience is a bit less stressful

  • Go on line to shop for car styles and models you're thinking about. Find out if the car is on a "high theft" list. Most new and late model cars have a factory installed anti theft device, so extra costs for additional security may not be necessary and will definitely not save much more on your insurance!
  • If you are selling your current car to trade up to a newer vehicle, find out the sales price if you sell to another individual, or what a car dealerwill offer.  Do not automatically accept the trade in value a dealer gives you and bundle it to the sale. You will automatically lose value.
  • Shop for auto loans with different banks. A car dealer will try to steer you to one of their lenders, often with less than advantageous terms.
  • If you drive less than 150 milesper week all year, consider leasing a vehicle. This could benefit youifpublic transit, carpoolor a very short commute to work is customary. Just know you are paying the dealer's interest costs, and avoid a large buy-out commitment at the end of the lease.  Leasing a vehicle does not save or increase on your auto  insurance.
  • Avoid any additional service contracts or "gap" insurance the dealer offers. It is a waste of money!  Your own policy, with high liability limits, rental car and towing, full collision and comprehensive coverage will provide almost allof the care you could need!