How to Save Money When Buying a New Car

How to Save Money When Buying a New Car

How to Save Money When Buying a New Car

One way to avoid sticker shock or buyer's remorse when purchasing a new car is to consider expenses you may encounter down the road.

For instance, experts say that while most people anticipate the purchase price, taxes and registration fees associated with a vehicle, many forget that the auto insurance in Texas they need to protect their vehicle could come with a hefty price tag. Fortunately, there are ways to keep insurance costs down while maintaining the type and amount of coverage a new car typically requires.

To help consumers control car costsfrom sticker price to insurance premiumsThe Progressive Group of Insurance Companies and Texas Prime insurance offers these tips:

Decide ahead of time how much money you can spend and what type of vehicle best suits your needs.

Research crash test and accident data. You can see crash test video and analysis from the Insurance Institute for Highway Safety online at progressive.com.

Check with several dealerships and get firm quotes in writing. Having quotes from several places can help you negotiate your best deal.

Shop around for financing. Rates vary between institutions.

Keep in mind the future cost of maintenance. Some vehicles oil change can amount to well over $200.

Insurance

Cost:

Before you buy a car, you should check into how much it would cost to insure. Try talking with an independent insurance agentit may save you some money. Unlike "captive" agents who represent only one company, independent agents and brokers offer products from many different insurance companies. That means more choice and more opportunities for you to find the best coverage and service at the right price.

Message from Texas Prime Insurance; "Verify your driving record before deciding what type of vehicle to purchase. We have come across many customers who decide to purchase a high performance car and sign the contract before verifying the amount they will pay on insurance. They then realize they had some old tickets on their records and the premium they thought was going to be low, skyrockets once these tickets are discovered by the insurance company."

Here are a few questions to ask an independent agent or broker.

Can I get any discounts for my car's safety features?

Your auto insurance premium is based in part on the car's value, the cost to repair it, its overall safety record and the likelihood of theft. Many insurers offer discounts for safety features that reduce the risk of injuries or theft.

How does this insurance company handle claims?

Price isn't the only factor to consider. It's a good idea to deal with a company that will be there for you when you need it around the clock.

What coverage do I need? Your specific needs may vary by the age of the car, your personal situation and other factors.

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