Buying a Used Car - Part 2

Getting the best deal on Car Insurance
Insurance costs represent one of
the largest expenses of your car
ownership experience. This expense
should be included in your decision on
what vehicle to buy because different
vehicles can have vastly different
insurance premiums.
Many of the online resources listed here
boast a minimum savings of $300 per
year on insurance policies. Some fast
and reliable insurance service online are
iNSWEB, Nationwide Insurance, and
the Canadian source Kanetix .
By getting insurance rates on vehicles
you are considering ahead of time, you
will have no surprises when it is time to
take delivery of your new vehicle.
As you will see, the main benefi ts of
shopping online are maximum savings
combined with a hassle free and quick
shopping experience. You are under
no obligation to accept a quote and all
quotes are e-mailed to you - no over the
phone sales pressure. You can literally
shop hundreds of insurance companies
in less than an hour on all of the
vehicles you are considering.
Asking for a quote from each insurance
service will provide you with many very
low insurance quotes for each vehicle
you are researching in less than an
hour. This method will provide you with
the absolute lowest insurance premium
in less than an hour instead of weeks
to accomplish the same task off-line.
To test it, get a quote from one of the
services for your existing vehicle.
It is important to notice any differences
in coverage from each quote, as a low
premium may indicate that there is
something missing in one policy that is
present in a policy with a slightly higher
premium.
Make sure that apples are being
compared to apples, and do not hesitate
to ask plenty of questions about the
policy, how much it costs, what it applies
to, and how claims are processed.
You should always read the policy
thoroughly before signing up for it.
The following web sites have good
privacy policies and will not place
you on any e-mail list or give your
information out to other sources. They
simply provide the needed information
that insurance companies need to
provide an accurate quote.
iNSWEB
https://secure1.insweb.com/
They will connect you with insurance
agents in your area who can provide
you with multiple quotes from many
competing companies that represent
accurate coverage and premium
information. What you can accomplish
with this site in one hour would take you
days to accomplish off-line.
Nationwide Insurance
https://www.insurecom.com/
They have a network of thousands
of participating insurance agents and
companies across the United States.
Once you complete their online quote
form, their computer system instantly
matches your profi le to the top fi ve
insurance companies. Your information
is immediately sent to them, they work
up their best quotes, and contact you
with their rates. You should receive most
of your quotes within minutes!
Kanetix: (For Canadians)
http://www.kanetix.com/
They are focused on making it easier for
Canadians to meet and manage their
insurance needs online. Whether it is
learning more about insurance, getting
multiple quotes from leading companies
such as Canada Life, purchasing a
policy online, or submitting an insurance
claim, you can fulfi ll all your insurance
needs at Kanetix.
Extended Warranty & Service
Contracts
Despite what you might have read,
Extended Warranties or Vehicle Service
Contracts, as they are actually known,
are sometimes a good idea. Even the
best cars break down and when they
do, they are very expensive to repair.
These warranty contracts can be placed
on both new and used cars or trucks.
An Extended Warranty/Service Contract
is:
1) A contract purchased to protect a
vehicle against the unexpected costs
of breakdowns, for a specifi c period of
time.
2) Allows repairs to be made in
accordance with the level of coverage
you purchase.
3) Ensures your vehicle is always in the
best mechanical condition.
Purchasing an extended warranty/
service contract gives peace of mind,
protects you against the rising costs of
repairs and adds resale value because
most contracts are transferable upon
sale.
It doesn’t make sense to pay the
dealer a huge profi t for simply printing
the contract. For example a 6 year /
100,000 mile service contract on a
typical midsize sedan might cost the
dealer about $800, but they may turn
around and sell it to you for $1200! A lot
of dealerships are setting up their own
warranty companies. So when your car
does need a repair, guess who has to
approve the claim - THE DEALER! Don’t
buy a warranty or service contract from
the dealer.
The following companies offer service
contracts to meet your driving habits.
These contracts are honored at the
repair facility of your choice and could
end up saving you a lot of money in
unexpected repair bills.
Warranty Direct:
http://www.warrantydirect.com/
Warranty Direct will save you as much
as 60% off dealership plans by direct
purchasing from them. In addition, they
are backed by “A” (Excellent) rated
insurance companies - Rated by A.M.
Best.
1Source Auto Warranty:
http://www.1sourceautowarranty.com/
1Source Auto Warranty covers virtually
any manufactured automobile and is
one of the few that offers ‘Bumper to
Bumper’ coverage even if the vehicle’s
original manufacturer’s warranty has
already expired. They have one of the
most comprehensive programs for high
mileage vehicles covering up to 138,000
miles on the odometer.
Look for the following when purchasing
an Extended Warranty
• Bumper-to-Bumper Coverage
• Wear and Tear Protection- This means
that you are covered for parts that
break as well as those that wear out. All
covered parts in a policy should include
a “wear and tear” provision.
• Overheating- Look for a plan that does
not exclude damage due to overheating.
• Roadside Assistance- You want a plan
that offers a Free nationwide Roadside
Assistance plan. You want to be covered
per occurrence. A good policy includes:
Emergency Road Service* Towing *
Mechanical First Aid * Emergency Tire
Service * Battery Assistance * Gasoline
Delivery * Fluid Delivery * Emergency
Lock-out Service * Nationwide Coverage
* Toll Free 800 Number * 24 Hours a
Day/365 Days a Year
• Car Rental – In case your vehicle has
to remain overnight for a repair.
• Trip Interruption – In case your vehicle
becomes disabled more than 100 miles
away from home. This would include
reimbursement for lodging and meals.
• Nationwide Protection - Repairs can
be made at any repair facility in the US
or Canada.
• Choice of Deductibles
• Renewals - A plan that may be
renewed for continuous one-year terms
for as long as you own your vehicle.
• Transferable - The ability to transfer
your coverage when you sell your
vehicle, for a modest fee, which will
increase your vehicle’s resale value.

Scrooge