Purchasing a car, whether new or used, is always a huge investment. Therefore you will want to make sure that it is the right purchase. In addition to this, motorists will also need to take good care of the automobile. With the aim of making make sure that it does not let them down whilst getting their money’s worth.
One of the best ways to protect the automobile is to care for it properly. However this needs to be a continuous process. There are various checks that should be carried out on a regular basis. The service schedule should be followed and the car should be driven carefully at all times.
But there are also a few intelligent purchases that can be made to protect your investment. These will ensure that you are not left out of pocket if something were to happen.
The first smart purchase is GAP insurance. This is an optional insurance policy that will cover any shortfall between your insurance payout if the car were to be written off and the amount outstanding on the finance agreement or amount originally paid. Insurance companies only pay the current market value of the automobile. So due to depreciation, this could leave you seriously out of pocket and without an automobile. Some individuals think that this is not worth the money, but accidents occur all too often and it is better to be safe than sorry. Additionally, a vehicle will be deemed written off if stolen and never recovered or damaged in a fire or flood. GAP insurance protects your investment whilst also providing peace of mind.
Another good purchase to make is an extended warranty (as long as the original manufacturer’s warranty has expired). Most manufacturer’s warranties last 3 years or 60,000 miles. Although some are longer. After which it will be up to you to cover the cost of parts and labour if there are any electrical or mechanical faults. This can be expensive and occur at any time during the vehicle’s life. Consequently an extended warranty will ensure that you are still covered and could save you a large sum. Additionally, specialists can offer brand specific cover, such as a KIA warranty, and will have the most flexible and affordable level of cover along with breakdown cover and other features.
As such an expensive asset, it is always important for motorists to properly look after their automobile. In addition to regular checks and driving with care, it is also highly worth investing in GAP insurance and an extended warranty. These two optional policies can save a motorist a huge sum if they were to write the car off or have a mechanical or electrical fault. They will also provide complete peace of mind.