Why Buy a New Car?
Everyone has their own personal reasons for buying a new car. It is hard to describe the feeling you get when you have a shiny new vehicle sitting in front of your home. To me it is a mixture of excitement, pride and just an outright giddy feeling.
So enticing is the promise of new that some people will go to many lengths to justify their indulgence, regardless of the average forty-odd per cent car depreciation which will befall a brand new vehicle in the first few years of its life with you.
The new car smell is a unique one. Some people don’t like it, but on the other hand there are even air freshening products on the market today that carry that scent. So it seems to me that I am not in the minority. The smell reminds you whenever you get in your new toy that it is brand spanking new and YOURS!!
Related Reading: Click4Gap Guide to Buying a New Car in the UK
Another thing I like about buying a new car is that you get to choose the style, options and colour, unlike a used car where you have no control. The most exciting part of the whole brand new car process to me is searching for the one that you know is “the one”.
I am talking from experience. It wasn’t until about four years ago that I bought my first brand new auto. I had waited for the opportunity all my life. I was finally financially secure enough, had a good down-payment, and had done my research. I had waited for the opportunity for a long time and the prospect of owning a brand-new-with-tags vehicle was massively exciting.
Then last year I bought my second new car and gave my “old” one to my daughter, who had just graduated from high school and was starting her first year in college. When I say “old” I am being sarcastic, because I had taken very good care of that car and it was still in excellent condition, with low mileage.
One very important thing to keep in mind is, even though you’re caught up in the excitement, don’t rush into anything. If you rush into things it might end up being more costly for you. This is an important and emotional decision that shouldn’t be taken lightly. You have to do your homework and research.
The reality is that you can get unbelievable deals if you shop around, and aren’t afraid to haggle for a discount. You notice I said if you are able to afford it, because no matter how good a deal looks, you might end up with huge car payments that will break your budget. If this is the case then it is wise to either keep the vehicle you have now or find a good used one that you can pay for and not worry about back-breaking car payments.
Related Reading: Can I Still Buy A Diesel or Petrol Car?
Be realistic. It is a major purchase and needs careful consideration. There are benefits besides the prestige of owning one. Most new vehicles have a great car warranty that will cover almost any mechanical problem. They are designed with more improved safety features including airbags. They are built to be more fuel-efficient and eco-friendly.
Also, you know that your car has not been driven poorly or abused by someone else. Everyone drives differently and some people are naturally hard on cars. When buying used you generally don’t know how the car was driven or if it was properly maintained – full service history notwithstanding. When you buy new you get to imprint your own driving habits on the vehicle.
When it comes right down to it; there is no right answer to which is better – buying new or used. It is a personal choice and both are good choices depending on your mindset, and your pocket. If you are interested in buying a different vehicle just make sure you look at all the options before deciding what is best for you and your lifestyle.
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Do You Need Gap Insurance?
If you purchase or lease a new or nearly-new vehicle (up to four years old), this is the period of time your car depreciates the fastest. During this time you should seriously consider Gap Insurance.
Related Reading: What Are The Requirements For Gap Insurance?
Choosing The Right Gap Insurance For Your Car
Whichever method you choose to pay, there is a GAP insurance policy that is right for your vehicle, personal circumstances and financial position. GAP insurance is available for new and used cars.
If you paid cash for your vehicle, or paid a sizeable deposit, or if you financed it, Combined RTI Gap cover will pay out the shortfall between the cost of your vehicle and the market value at the point of claim, which is the amount your motor insurer will cover. This is cover that will protect you no matter if you use your vehicle for private use or for business.
If you leased your vehicle or it is under a contract hire agreement, Lease/Contract Hire Gap Insurance will cover you for the shortfall on your lease agreement, after your motor insurer settlement. If, for any reason, you change your vehicle within the first 90 days from the start date, we will also arrange to transfer your cover to your new vehicle without hassle or charge.
Can you pay Gap Insurance monthly?
If you’re looking for the convenience and affordability of a monthly payment option, Click4Gap offers you a non-financed agreement that enables you to pay a 20% deposit on purchase, followed by nine monthly instalments to cover the balance.
You won’t be signed up to a credit agreement, we’ll require no credit references or searches, and it isn’t subject to any changes in interest rates. For more on paying monthly for Gap Insurance click here.
Contact Click4Gap Today!
Looking to take out GAP insurance? We are here to help. Hop on our Live Chat, call us any time Monday to Friday, 9am to 5pm on 0208 819 3424, or Email us and we’ll get back to you during office hours.