Everyone is always trying to think of new ways to save money in these days of hard times. One of the first things you could do is look at your auto insurance policy and see if you can make some cutbacks in that area. The deductible on your collision and comprehensive coverage are two places where that might be possible. You need to take a couple of things into consideration before you make any changes. There are so many variables involved such as how much your car is worth, the costs to repair your car if damaged, do you live in a high crime neighborhood or are you in a gated community. Statistics have shown that the average driver has some kind of comp or collision loss every 7-10 years. You could save $75 per year if you doubled your deductible thereby saving $750 after 10 years. Then if you had an accident you would only have to pay $500 which would be a savings of $250. This might not seem like much over a 10 year period, but every little bit helps.
The answer to whether or not you should request a vehicle history report when purchasing a used car, or course, should always be yes. It is an inexpensive way to make sure that you are getting what you’re paying for. With modern technology a car can be repaired to the point where you can’t tell it was ever in an accident. Also, odometers can still be turned back so you can never be sure what the true mileage is without a history of the car. There is no excuse for you to get stuck with a lemon when you have the tools to check out a car before you purchase it. A check to Carfax for $30 is a small price to pay to make sure you’re getting a reliable car.
To reach a decision about purchasing an extended warranty on a used car takes a little more thought. There are restrictions on new car warranties and the buyer must check a few things to be sure that they satisfy their warranty. You will almost always have to pay a deductible in the case that you have a total loss. While the used car warranty may seem like a good bargain, it’s important to look at what you are getting for the extra money. A few dollars more per year might pay off for you in the long run.
For example, if you have roadside assistance as part of your extended warranty, you may not want to pay the extra fee for this. Many people like to add their own roadside assistance to their plan and this is a great way to save a few dollars. While roadside assistance is not a huge expense, it can add up and save you money in the long run.
When you are going to purchase an extended warranty for your used car, there are a few things that you need to keep in mind. First, many models are going to have different ages as some cars are much older than others. second, the warranties vary from model to model. Most extended warranties will cost the same amount, but with an older car you may want to look into getting a car extended warranty from the dealer yourself.
Your extended warranty will show what the car is worth according to the blue book. It will also state the amount of miles on the clock and what the problems or issues are. If there has been any repairs done than the blue book value is what you are probably going to get. It is not as simple as looking at the price of the car and then looking up the blue book value. The value of the car changes with time and as the owner you need to have the right amount of coverage for the different vehicles.
When you are out scouting for your extended warranty, be sure to ask and see if they offer any rental car coverage. This would be particularly helpful if you lose your car in an accident and you need to have a car to get around. The cost of the rental car coverage is perhaps 10% or even more of the total amount of the warranty. This type of coverage alone can save you hundreds of dollars on your extended warranty alone.
Look at your extended warranty and remember that if you are not happy with the coverage you get, you can always shop around for a new policy.