Wednesday, February 23, 2011

Making The Trade In Value Of Your Car Worth More

When you’re thinking about buying a new vehicle, you have to think about what you’re going to do with your current one. You really only have three choices:

1. Keep the car – you may want to pass on the car to another family member such as a teenager who just got their license or you may want to strictly use it for work.
2. Sell it privately – you may get more money for your vehicle assuming that you’re presenting it in good condition. The disadvantage would be that it will take time a fair amount of physical and emotional energy and also a minimal amount of money to sell your car privately.
3. Sell your car to the dealer – Although you may get more money for your car should you sell it privately there are a lot of advantages to trading in your car. Its hassle free, immediate payment against the purchase of your new car and you can avoid the expenses that you may incur selling it privately.

Trading in your old car is probably the easiest way. Dealers usually want your trade in so they will make the process easy for you. There will be minimal fuss. The dealer will assess the condition of your car and offer you a trade in value which you can use towards payment on the purchase of a newer car. With this in mind, don’t forget that you can still increase the value of your car to the dealer by maximizing their trust in your vehicle. Here are just a few tips to make the value of your car worth more:

· Think like the seller – You want your car to get the same positive response from the dealer that the dealers car has on you. A neglected car is not a good way to get a better deal on a newer car. You may think that the message you’re sending to the salesman is that I wasn’t coming in with the intention to buy a new car but this is not a very effective negotiation tactic.
· Clean your car – If it looks like your neglecting your car, the dealer will think that you haven’t maintained the car regularly and this will affect the price they’ll offer you. You will want to wash your car inside and out, use odour neutralizers, top up fluids and declutter. This is a strong indication that you have properly maintained your vehicle.
· Increase your credibility – If there is a problem with your car such as a burnt out light bulb or corroded battery cables, let the dealer know. This will bring the impression that this is the least of the problems with your car. If there is a major problem with your car, they will find out anyway so you might as well disclose that information also and build credibility with the dealer. Also keep all maintenance records if possible.

Following the tips above will bring more value to your trade in. Anytime a vehicle is closer to being lot ready for a dealer the more value it will have to them. For more valuable tips and information, follow Prudent Value Cars Blog at www.prudentvaluecars.com

Wednesday, February 16, 2011

Can Buying a Used Car Save You Money?

Do you think buying a new car will change your life? Remember that new cars become old cars fairly quickly. You can easily save money on the purchase of a used car. When you’re buying a used car, you want to get the best rate on the car but you also want to look for ways to save even more money once you purchase the car. Here are just a few ways that you can save money buying a used car:

Lower rates – When you purchase a used car, you will pay lower taxes and insurance. Depending on where you live and your driving record, you can save a considerable amount of money over the life of your car on auto insurance.

Financing – You should try and pay back your car loan in a short period of time as this will save you money. The sooner you pay off your loan, the more you’re saving in interest. If possible, could you continue to save for another year and simply pay cash? Six thousand dollars can buy you a great reliable car.

Inspection – This is important when purchasing a used car. Take the used car you intend to buy for a thorough inspection. This will ensure that you get a car that is in good running condition.

Lifestyle – If you feel your used car does not accommodate your lifestyle because it’s too small for skiing trips or road trips feel crammed then think about what it would cost to rent a car for that particular trip. It still works out to be cheaper than a new monthly car payment. You will also not have to worry about insurance, maintenance or depreciation.

Repair bills – Even if you have to replace the timing belt, radiator or even the transmission costing you $2000 for the year is still a lot cheaper than a car payment at $350 per/month. Whether you feel your used car needs the timing belt replaced at 100k or it’s you can drive more miles before an oil change, you should stick to the recommendations of your car manual to give your car a longer lifespan.

If you’re looking for ways to save money by buying a used car, visit our inventory at http://www.prudentvaluecars.com/inventory.html. Prudent Value Cars makes it easy to help you buy the right used car for your needs.

Monday, February 7, 2011

Factors that raise your car insurance premiums

Do you remember calling around for insurance quotes and finally finding a pretty decent insurance policy and now, years later, you’re calling your insurance company to ask why your premium continues to rise for no reason at all.

Car insurance rates can go up for many reasons. Some reasons for your rates rising are under your control and some reasons can be out of your control. Here is a list of some factors that may cause your car insurance premiums to rise:

Driving violations – If you consistently obtain traffic violations such as speeding, you can expect your premiums to increase as a result. The safer the driver you are considered to be, the lower your premium will be. If you continue to file claims, even if the reason doesn’t seem to be your fault, your rates are likely to go up. It’s always worth considering whether or not it’s worth to file the claim.

Your credit score – You may think your credit score has little to do with your insurance rates but for most insurance companies it is an indicator that you may be a higher risk in turn charging you a higher premium.

Economy – When times are tough, fraudulent activity in the insurance industry increases causing our insurance companies to cover millions of dollars in insurance fraud every year. With this comes a higher cost for our coverage.

Change in status – If you were married and are now single, if you have moved to an area that has more traffic or a higher crime rate, then your rate may increase. Some neighbourhoods have a higher rate of auto theft resulting in a higher premium.

Although car insurance rates are probably going to increase over time, you can always save yourself money by keeping a good driving record, increasing your deductibles or fixing any problems on your credit report. Also, if you notice a big jump in your rate, pick up the phone and talk to your insurance agent to confirm that it’s not some simple mistake that can be corrected easily.

For more valuable information www.prudentvaluecars.com

Wednesday, February 2, 2011

How to Save On Your Car Insurance in Canada

Car insurance premiums in Canada can vary by hundreds of dollars from one company to another. It’s hard to get a good deal on car insurance and even harder to keep your premiums from rising. We are always searching for ways to save so here are some suggestions:

Increasing your credit score – Almost all insurance companies pull a credit report because they see a connection between your credit score and the likelihood of you filing a claim. If you pay your bills in a timely manner and kept the same credit accounts for a while, you seem more stable that those who open and close accounts frequently. This is one factor that helps the insurer determine your insurance rate. You should clean up your credit history as soon as you can to start saving money.

Pay in Full – Not many people are able to pay their insurance annually. The majority payments are set up monthly or quarterly. Insurance companies charge a premium fee to break up the payments and the more you break them down, the more fees you will pay. If you’re able to pay in full, you will save yourself a few dollars, try to pay semi annually if not, try quarterly and if not, stick to monthly. Sometimes if you’re in financial hardship, the few dollars you save is not worth the pain of paying a big lump sum.

Higher Deductibles – When you file a claim, the deductible is the amount you pay before your insurance kicks in. The higher your deductible, the lower your premium so if you’re increasing your deductible from $500 to $1000 on collision, you can save yourself 30% or more. This means that if you had to file a claim and the claim was for $2000, you will have to pay the first $1000. If you have an older vehicle, it may not make financial sense to pay premiums for collision and comprehensive coverage, especially if the value of your vehicle is under $1000.

Buy a low profile car – Cars that have a high theft rate like a Honda or are expensive to repair have higher insurance rates. Prior to purchasing a car consider all the facts about the vehicle. Also keep in mind that many insurers give discounts for safety features such as car alarms, antilock brakes and air bags.

It’s always a good idea to maintain a relationship with your insurance agent or any creditor for that matter.

If you’re looking to purchase a new vehicle, Prudent Value cars offers top quality, low kilometre, pre-owned cars and trucks. Visit http://www.prudentvaluecars.com/inventory.html to view our inventory.