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Archive for the ‘selling a car’ Category

GAP insurance sales grow

Wednesday, August 25th, 2010

With the motoring world anticipating the new 60 plate that will be on show with new registrations from September 1st. Motoring insurance companies will not only be anticipating a rush of motor insurance quotes for new cars, but also GAP insurance companies will expect a bonanza of business as well. However, how many people know what GAP insurance is?

GAP insurance, is a product now routinely offered to purchasers of brand new cars. Everyone knows that the value of a new car starts depreciating the minute it is driven out of a showroom. GAP insurance is intended to cover purchasers of new cars for any loss of revenue they may incur during the first four years of ownership.

For instance, if a vehicle is stolen from the owner when it is two years old and never recovered. The insurer of the vehicle will make a payment based on the value of the car the day it was stolen. This payment will certainly be far less than the sum the owner paid for the car in the first place, and in many circumstances can be less than the outstanding finance left on the car. Remember most cars are bought with either bank loans or manufacturer finance. In both cases there will almost certainly be several thousand pounds on finance above the value of the loan. An accident or theft can leave an innocent motorist thousands of pounds out of pocket.

GAP insurance is designed to pay the motorist the amount of money he actually spent in the showroom. There are two possibilities for the car owner to consider. He can take a policy out for the price of the car plus the interest on the loan or choose a return to invoice policy which means the policy will pay the actual value of the car when purchased.

There is no doubt that GAP insurance is getting more popular and more competitive. Dealers will always mention GAP insurance on new car purchases, but it does appear that it is worthwhile getting an independent quote as this can save a few pounds. Whichever way the owner goes, he can expect to pay a one off sum somewhere in the region of between £300- £600.

Tags: Car Insurance, Motor insurance
Posted in Car Insurance Cover Types, Cheap Car Insurance, Savings, selling a car | No Comments »

Rise in UK car sales not expected to last

Thursday, July 8th, 2010

Britain’s car market was stronger than expected in June, showing a surprise 10.8% rise in registrations, meaning not just a rise in people getting a motor insurance quote for a new car, but also that the car market in the United Kingdom was stronger than expected according to the SMMT (Society of Motor Manufacturers and Traders). However analysts forecast that demand for new vehicles will go back to a negative number during the last six months of the year, with the £2,000 scrappage incentive, which boosted demand among buyers ending. The new business secretary Vince Cable, last week told one newspaper that the emergency in the car making industry was now over and that the car industry could no longer count on any direct government aid.

Registrations of fleet vehicles were 25% higher than in the same period 12 months ago, which shows a continuing recovery in demand from companies, according to the SMMT and whose chief executive Paul Everitt said “The results indicate improved business confidence and a strengthening economic recovery. The industry still expects challenging economic conditions in the second half of the year and government action to improve access to credit for consumers and businesses will be important in sustaining the momentum of recovery. There is some inventory building going on. During the depths of the recession most companies cut back quite a lot on inventory so we’re seeing some impact there. But also, this time last year there was such a big rush in scrappage scheme vehicles and private vehicles being sold that that crowded out some of the fleet market.”

The SMMT also reported that the Vauxhall Astra was Britain’s best selling car in June, the first time for almost two and a half years that it has been placed in the number one position. The Astra replaced the Ford Fiesta, which had the highest registrations during the first few months of 2010. Registration of AFVs (alternatively fuelled vehicles) equalled their biggest ever market share, at 1.2%, in June. The number of AFVs increased by 157.4% in the month, and has increased by more than 150% in four of the last six months. Diesel sales have also increased which has helped to sustain total market growth with the Nissan Qashqai continuing to be popular and was the best-selling diesel in June.

Tags: Car Insurance, car sales
Posted in Car Insurance, selling a car | No Comments »

Selling your car

Tuesday, June 8th, 2010

Most people will at some point in their lives be in the situation of selling a car. Before you sell it there are a number of things you can do to make sure you get as good a price as possible for your old motor. It is relatively easy these days to find a website or even mobile phone text messaging service to find out the approximate value of the vehicle. This is worth doing if you are selling privately, negotiating with a used car showroom or if you are buying a new car from a manufacturer, knowing how much your car is worth will be a help if its being used as a trade-in

Give your car a good clean using cleaning products that give the car a good shine, and definitely consider spending a little cash on sprays that bring life back to plastic body parts and your tyres.  Remove all of your rubbish such as food papers, empty cans of soft drinks and cigarette packets and then give it a good vacuum either at home or at a petrol station. An Oil change does not cost too much and will look good when the buyer looks under the bonnet. When doing the oil change, check the brake fluid, and windscreen washer levels and fill if needed. They are only little things but could make a difference of a few hundred pounds when it comes to bartering, especially on a private sale.

When it comes to wording an advert, don’t try and save money by using abbreviations, a lot of buyers will not know what they mean, but if you have to use them, just stick to the most common one’s such as VGC, A/C, and try not to use phrases that are on every advert, like one careful lady owner. Do put whether
your car has a full service history, its colour, and number of owners, also list the car’s equipment, what features it has and most important its price. Do not forget to include a picture and your contact details.

When the advert is placed in newspapers and magazines or even shop windows, the people interested will soon by phoning you to come and look at the car. It a sad fact but thieves will pose as buyers, so never let the buyer go on a test drive on his/her own and don’t leave the buyer alone with the keys in the ignition. You can ask the prospective buyer for some form of identity and ensure they have adequate insurance cover before you allow them to test drive the car; they won’t have been included in your motor insurance quote so you don’t want to be left with a bill to pay for any damage. If you are paid in cash, it’s always best to get it put into your bank as soon as possible just in case you are paid with fake notes.

Tags: car selling advice, Motor insurance
Posted in Car Insurance, selling a car | No Comments »

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