Budget Expansion Ideas: Reducing New Car Costs

Looking into the future and thinking about expenses you may encounter later is one way to avoid sticker shock or buyer’s remorse when purchasing a new car.

Experts say most people expect the purchase price, taxes and registration fees that come with a vehicle, but many forget about the hefty price tag that can come with certain vehicles. Fortunately, there are ways to keep insurance costs down while preserving the type and amount of coverage a new car usually requires.

Here are some tips to help you control costs from sticker price to insurance premiums:

  • Which type of vehicle suits you best and decide in advance how much money you can spend.
  • The Institute for Highway Safety had test videos and analysis, so crash test research and accident data.
  • To negotiate the best deal, contact several dealers and get a firm written quote from each.
  • What about funding and their rates vary between institutions, so shop around.

Insurance costs:

It is wise to check before purchasing how much it will cost to insure this type of car. Talk to your independent insurance agent; they can save you some money. Independent agents, unlike “captive” agents who represent only one company, offer products for many insurance companies. More choices and more options is what this means for you to find the best service and coverage at the right price.

Let your independent insurance agent look around to help you keep coverage costs down.

Here are a few questions to ask your insurance agent:

  • My car has safety features. Can I get discounts? Many carriers offer discounts for safety features that reduce the risk of injury or theft. The car’s value, repair costs, overall safety record, and the likelihood of theft are what your car insurance premiums are based on.
  • Handling claims – how does this insurance company handle claims? Will they be there around the clock when you need them? Price is not the only reason to consider.
  • What are my coverage needs? The age of your car, your personal situation and other factors may vary your specific needs.

Select an independent agent who will take the time to answer your questions and help you find the right combination of price, service and coverage you need.

Some of these agents have been in business for a long time and know solutions to save money on your car insurance.