Those who have delayed purchasing a new ’11’ plated motor vehicle until March have recently been given guidance by industry experts on how to save money on motor car insurance and vehicle warranties on their cars.
According to the Society of Motor Manufactures and Traders, only three per cent of annual car sales figures are generated in February. This is because the vast majority of consumers will wait for the plate change at the end of March in order to purchase a new vehicle and begin to search for attractive car insurance rates.
The current economic climate is making it incredibly expensive to own a car in the UK. However experts say there is much you can do to avoid paying car insurance companies a car and an arm and a leg without having to settle for a second hand vehicle.
Experts recommend checking online to see what it costs to insure the newest model of whatever car you may be considering purchasing. This could result in lower rates from those insurers who predict the likelihood of breakdown less on a new car as compared to an older one.
This could also be a good time to review what you’re paying for insurance cover if you bought a new vehicle last year. Any discounts new car buyers qualified for may have expired recently, which could leave them with an offer that comes up short in comparison to other insurance deals.
Typically, several insurers will bank on a car owner’s lack of motivation to seek alternative cover due to apathy and will raise their renewal rates. However experts say that taking the time to shop around and compare prices is worth the expenditure of time and energy, as it could result in significant savings.