Buying a new car- what to consider
In the current economic climate people are thinking harder than ever about any financial investments they make, including buying a new car. As well as the initial payout you’ll have to deal with subsequent costs like petrol, insurance and general upkeep of the car itself. Though the price for these aspects of car ownership can seem daunting, there are ways to cut costs.
One of these options is to shop around. If you just stick loyally to one company, without seeing what else is out there, you may potentially miss out on a great deal. Price comparison websites provide an excellent tool with which to do this. Filling in a simple, but comprehensive, form will quickly provide you with a list of companies and their deals; allowing you to quickly compare costs for anything from insurance to purchasing the car itself.
When purchasing a car, don’t be tempted to go for an old banger in the expectation that because it’s cheap to buy it’ll be cheaper to maintain and be insured on. In reality, insurance companies are very aware of the fact that old cars are less safe to drive. Newer makes and models are designed to be safer and discounts may be available if you have automatic seatbelts and/or airbags.
It’s also a good idea to try and look for an ‘insurance friendly’ vehicle. That little Porsche may seem a great idea at the time but remember, higher performance means higher insurance. Expensive cars also provide more of a temptation to thieves, a factor which can also cause your insurance to sky rocket. They’re also often not that economic to run, meaning you’ll be paying much higher petrol costs.
Another, often overlooked, consideration is where the car will be stored when not in use. When getting an insurance quote most companies will want to know where your car will be kept. The effect of this on your insurance is fairly obvious; your premium will be a lot lower if your car is kept in a garage compared to the cost if it’s stored in a public car park. Though there is a limited amount you can do about this it is a factor worth considering.
Once you’ve bought your car, don’t forget the benefits of dedicated car insurance providers and price comparison sites. They can help to get the best deal on insurance and to find out about any other supplementary offers companies may be offering if you take out insurance with them. One example is Kwik Fit Insurance. As well as searching car companies to find the best deal for you, they also offer a 10% discount at Kwik Fit centres and a guaranteed courtesy car if you are forced to go without yours. For more information take a look at the car insurance page of their website.
