November, 2017 | Amigo Insurance

Eventually, we’re all going to have to take the plunge and buy a new car. But, making this investment requires care and consideration on your part.

You have to have the correct financial cushion in place to own a car. If you don’t you could wind up making decisions that put you at a high degree of personal risk. Before signing, it’s up to you to make sure you have the right resources to buy a new car.

1. Research the Value of Your Existing Car

Determining value helps you understand for how much you can typically expect to sell the car. You may even want to trade your car for a new car. Doing so might afford you a funds credit from your dealer to apply towards your new car. By having a firm grasp on your car’s value, you might be able to negotiate a better trade value with your dealer.

To determine the car’s value, first check the Kelley Blue Book. It can help you determine how much your car is worth, based on its depreciated market value. As most cars lose value over time, you can expect your vehicle to be worth less now than it was when you bought it.

For a more specific quote on value, take your car to a vehicle appraiser. This appraiser can look at specific features of your vehicle to determine a more exact value.

2. Know Your Own Budget

A new vehicle will be a significant financial investment. You will pay for more than just the vehicle. You also can expect maintenance, insurance and other costs over your car’s lifetime. If you know how much you can afford to pay for a vehicle, you can protect your own solvency.

If you fail to pay for your car using responsible means, this may damage your own consumer credit. Various financial lenders may view you as a high-risk customer. This may make it harder for you to obtain car insurance, loans or other financial remedies. Therefore, before buying a car, make sure you have the financial means to do so.

3. Research Vehicles

Once you know how much you can afford to pay for a car, you can isolate vehicles within that price range. By making prudent decisions about the car you want to buy, you can also reduce risks you might face.

You should always look into how and where you plan to drive. Do you commute? Do you drive on uneven roads or haul heavy loads? Not every vehicle fits everyone’s operational needs. Therefore, you should get a vehicle that’s appropriate to you. The better the fit of your vehicle, the lower your risks may be.

Research may also help you pinpoint extra features to increase your own protection. The better a vehicle’s safety features, the more likely it is to have a high safety rating. Some insurers consider vehicle safety ratings when awarding discounts or determining policy rates. The more reliable your vehicle, the better your chances of paying less for insurance.

4. Buying Your Vehicle

After you’ve settled on the vehicle you want to buy, there’s a process you have to follow to legally drive it off the lot.

First, you must determine how to pay for the car. Many individuals take out loans to pay for the vehicle. Afterwards, the buyer has to repay this debt to the lender, often with interest attached.

Furthermore, you need to register your vehicle with the proper authorities. You will have to get license tags, registration and title information on your new vehicle. Additionally, one important piece of registration you must obtain is auto insurance.

5. Getting Auto Insurance

Most states require all their drivers to carry minimum levels of auto insurance. The exact requirements will differ by state. However, all drivers should consider investing in:

Liability coverage: Protects you in case your driving causes harm to third parties.
Collision coverage: If you have a wreck, this coverage can help you repair or replace your car.
Comprehensive coverage: Hazards like weather or theft may damage your car. This coverage can help you repair that damage.

Beyond these general coverage offerings, the policy options available to you may vary. You may find some options useful, and others not so much. Work with your insurer to determine the coverage that’s right for you. You will likely need to set higher coverage limits, and perhaps invest in extra coverage at first. These levels might be able to better address the risks associated with new cars.

To get the best insurance coverage, talk to your independent auto insurance agent. They might be able to compare the options available to you to get you the best insurance prices.

Ready to buy auto insurance? Call Amigo Insurance Agency, Inc at 877-999-2644 for a Chicago car insurance quote.

We are quickly moving towards the close of the year, and towards the official start of winter. Even so, winter raises new safety risks that may impact your ability to drive safely. Therefore, you are likely have to take extra precautions when driving during the winter.

One way to improve your driving risks during the winter is to keep your car in good working order. By having a safe vehicle, you can lower your safety risks when you drive. You might be able to avoid breakdowns, wrecks or the potential that you will harm others. Not only is this good for you as the driver, it is also good for your insurance company and others on the road.

As winter approaches, realize that different forces may impact your car’s reliability. Take the time to make adjustments to your driving habits and your vehicle.

Know How Changing Seasons Affects You

No two locations are alike in how they experience seasonal changes. Some parts of the country may see frequent blizzards. Others have temperatures below zero but little precipitation. Still other areas might see mild temperatures, but frequent precipitation.

You should know how a typical winter impacts your area. This can help you take better precautions to prepare your vehicle for winter driving. Environmental changes during the winter may impact your ability to drive. They may also have different effects on your vehicle and its working systems.

Review Your Auto Insurance

Your auto insurance is an important part of the protection your vehicle needs. Should you experience vehicle damage or personal injuries from various incidents, your coverage can usually help pay to control the problems. It’s imperative for drivers to periodically review their coverage.

Most people review their policies as they come up for renewal. However, there is no wrong time to check your existing coverage. As winter approaches, make sure your policy is adequate for the seasonal risks you may face.

Ensure your collision and liability coverage are high enough. During winter, a potential for increased bad weather might raise your accident risks.
Check your comprehensive coverage. This protection kicks in for risks not associated with wrecks. It may cover damage sustained for instances of fire, theft or weather. See if you have (or can obtain) coverage for winter weather typical of your area.
Your insurance may offer more coverage that could benefit you in case you have car trouble. For example, you may be able to use roadside assistance coverage in case you get stranded in bad weather.

Getting Your Car Ready for Winter

As winter sets in, the changes in weather could have lasting effects on your vehicle. Remember, your car experiences a lot of exposure to the elements. Rain, snow or freezing temperatures may all damage internal and external vehicle systems.

Consider taking your car to your mechanic before the winter arrives in full. They can run maintenance on the vehicle to help prepare it for harsh or changing weather. They may even be able to diagnose small malfunctions that it may be a good idea to repair before the cold sets in.

Have your oil changed every few thousand miles. Your vehicle manufacturer can usually recommend a specific limit on miles. Changing the oil before winter can help ensure that internal systems have appropriate protection.
Have your mechanic run a test to ensure the strength of your engine. If your engine doesn’t function well, it may come under undue stress during times of severe weather.
Your car’s battery may experience sensitivity issues during the winter. For example, during times of cold weather, your battery may use more energy to start your vehicle. This could strain the battery, and hasten its eventual failure. Battery strain can also impact other vehicular system. The typical vehicle needs a battery change every two to five years. If your battery is due for a change, consider getting it fixed before winter sets in.
If you find your tire treads depleted, consider buying new tires. Routinely check your tire pressure throughout the winter. Also have your shock absorbers, brake system and other control mechanisms inspected. Some drivers have snow tires installed on their vehicles during the winter. These practices can help drivers better control their vehicles on roads affected by weather.
Check your vehicle seals and HVAC system. If either malfunction, this could cause undue strain on other internal systems.

As you approach winter, do what you can to keep your vehicle safe. Then, once you hit the road, drive in manners that take existing hazards into account. While your auto insurance can help you in the event of an accident, the better approach is to prevent such risks. Therefore, careful preventative maintenance may help you stay safe on winter-affected roadways. Never forget to talk to your auto insurance agent about how you could improve your coverage for winter driving.

Do you need auto coverage? Call Amigo Insurance Agency, Inc at 877-999-2644 for a Chicago car insurance quote.