Listen up, men! There are few things as exciting as investing in a flashy new car, but too often a man will rush into the purchase only for this to hurt them down the line. Although it can be difficult, it is important to take your time, be careful and take the necessary steps to protect yourself. This will allow you to fully enjoy the automobile and not get a nasty sting in the tail!
So, what exactly should you be looking out for? There are a lot of dangers when it comes to buying a new car – it isn’t always just what it says on the tin! One of the major areas of concern is insurance lapses. These are gaps in coverage where you are no longer covered – needless to say, this can be incredibly dangerous and could cost you a fortune if you had to make a claim. Additionally, you will face fines and penalties if you drive around without car insurance.
Therefore, it is vital that you always have insurance in place whenever you get behind the wheel of a new car – this is true even if you are taking one out just for a test drive. A great way to bridge the gap or get coverage for a short drive is to arrange temporary car insurance. As with any type of insurance, it is always best to read the small print. Although this is tedious, it is important and ensures that you are adequately protected.
Now, we all have aspirations to buy the best supercars and turn heads on the road, but it is also important to be sensible. If you are fortunate enough to be able to afford a supercar, then I urge you to protect yourself incase it all goes wrong. Many men are unaware of this, but if the vehicle were to be written off then a comprehensive insurance policy would only pay out the current market value of the vehicle. Due to depreciation, this could be an enormous shortfall when you consider how expensive these cars can be.
So, what can be done about this? Fortunately, you can protect your investment with GAP Insurance. This is a policy that will cover the shortfall between what you paid for the automobile and the amount paid out by the insurer if you make a total loss claim. These happen more often than you think and are often not the driver’s fault, so it is better to be safe than sorry. Additionally, a vehicle which is stolen and never recovered is also declared a total loss – supercars are often targeted by criminals due to their high value.
Finally, it is vital that you always have a car warranty in place. If you have purchased the vehicle new it will come with a manufacturer’s warranty which should last three years, but any used car older than this and you will need to obtain an extended car warranty. This will provide protection if there are any mechanical or electrical faults, which can occur at any time in a car’s lifetime and can be costly to repair.
Investing in a new set of wheels is exciting, but you should always be careful and take your time with the purchase to check that you are fully protected – this will ensure that you are not left carless and out of pocket if it all goes wrong.