Posts Tagged ‘dealership’

Used Car Dealers Insurance in Chicago, Illinois and Northwest Indiana

Friday, January 21st, 2011

This articles deals with the different coverages that are available for used car dealers. Certain coverages or limits discussed in this article may be suitable only for the used car dealers in Illinois. There are thousands of used car dealers in Illinois with over 700 registered used car dealers in the City of Chicago. Coverage types and limits may vary according to state.

Generally, used car dealer insurance is high in premium due to the fact that the insurance company has little knowledge of who will be sitting behind the wheel during test drives. Also, liability coverage limits for used car dealers are higher than those in personal auto insurance policies. In Illinois used car dealers must maintain a minimum liability limits of $100,000 for bodily injury per person, $300,000 for bodily injury per accident, and $50,000 property damage per accident (100/300/50). The State of Illinois does not require more than the statutory limits of $20,000 bodily injury per person, $40,000 bodily injury per accident for the (UM) uninsured motorist.

The following is a list of mandatory and optional coverages that owners of used car dealerships need to consider as they shop for insurance coverage.

GARAGE LIABILITY COVERAGE: Provides protection for liability resulting from the maintenance and the ownership of the garage (ie because of ownership/use of a Covered Auto, and because of “Other than Covered Auto.”) Basically Garage Liability provides protection for the premises (ie slip and fall) and for auto accidents. Again, Garage Liability limits for used car dealers must be maintained at 100/300/50 in Illinois.

AUTO LIABILITY: Provides protection for the used car dealer in the event of being sued because of an car accident. As mentioned earlier there is a minimum limit in each state, and the State of Illinois requires 100/300/50 from all used car dealers. This coverage is almost always included as part of the GARAGE LIABILITY.

DEALERS OPEN LOT: Provides physical damage coverage on vehicles that are owned by the dealer. Physical damage coverage includes Collision Coverage (if/ when vehicle collides with another object, or overturn) and may also include one or more of the following coverages: (1) Comprehensive or other than collision coverage which encompasses all other losses resulting from anything other than collision, (2) Specified Cause (less coverage than in 1) which includes certain coverages specified in the policy such as fire, lightning, explosion, theft, windstorm, hail, flood, mischief and vandalism; or [3] Fire and Theft (less coverage than 2). Insurance companies may set coverage limits per vehicle (for example, the policy may contain a limit of $25,000 per vehicle, maximum 275,000 for the lot.) This limit may be a problem for certain dealers that sell expensive vehicles.

Coinsurance Clause: This is the percentage which will determine if you are fully covered on a partial loss. If your policy states that your coinsurance is 90%, then the coverage on the Dealer Open Lot listed on your policy must be 90% or higher of the actual value of your inventory, in order for the insurance company to pay your loss in full.

Example: An SUV was a total covered loss with a value of $35,000. If your policy states that you have 90% coinsurance, and your actual inventory was $300,000 at the time of the loss, then you need $270,000 (90% X 300,000) for you to be 100% covered on that loss. Let us assume that your policy has only $210,000 coverage on dealer open lot. These numbers mean that you had only 74% coverage of the amount you were supposed to have (210,000/270,000). In that case, the insurance company will pay you only about $27,300 for the lost SUV (35,000 X 78%), without considering any deductible.

Coinsurance Clause is meant to penalize people who purchase less than what they actually have or the Under-insureds (some hope to save money by getting less insurance?) Lower coinsurance percentage is better for customers, and have higher premiums too.

GARAGE KEEPERS LIABILITY: The need for this coverage is based on whether or not a particular used car dealer does repair/ body work on vehicles that are not owned by the dealership. This coverage is similar to the DEALER OPEN LOT coverage, but the coverages goes to the vehicles that are not owned by the dealer, but are in the dealer possession.

FALSE PRETENSE: Covers losses of vehicles if the dealer is voluntarily scammed or cheated. For example, if someone comes to test drive a vehicle (with the permission of the dealer) and they run away with it then the loss would be covered under this coverage.

BONDS: Used car dealer bonds are required from new dealerships for a limited time, in order to guarantee that the dealer will stick to state laws pertaining running used car business.

DEALER BONDS: Used car dealer bonds are required from new dealerships for a limited time, in order to guarantee that the dealer will stick to state laws pertaining running used car business.

Other Coverages: Like all other businesses, used car dealers may need additional coverages such as:

Property Coverage: May include coverage on the building, office equipment, etc.

Workers Compensation: To cover all work related injuries of employees.

Workers Compensation: To cover all work related injuries of employees.

Other coverages may also include business interruption, employee dishonesty, umbrella coverage, signs, crimes and robberies.

Looking to find the best deal on Used Car Dealerships Insurance, then visit www.insurancenavy.com to find the best advice on Used Car Dealers Insurance Quotes for you.

Bargaining For A Good Car Loan

Sunday, August 8th, 2010

Most of the people are not sure that bargaining is a part of availing good car loans. You should know that it is quite possible to bargain to some extent with the car loan companies. Unfortunately, not all the car loan companies are flexible with their loan rates but still depending on what they are offering you and your knowledge of the car auto loan market there is a certain degree to which the auto loan company would agree to reduce the rate of interest.

Although it might not be a wise thing to do, you can still bargain for quite a lower down payment depending on the type of credit history you have. Most often, people with good credit history are in better position to bargain compared to people with poor or not perfect credit.

So, you will now want to find out the companies that are open for bargaining. Well, most of the offline car loan companies are quite strict with their rates but still there can be some offline companies which are ready to bargain but don’t expect any striking reduction in either your down payment or interest rates.

Although most offline companies can be strict with their interest rates, the online car loan companies are quite flexible. Although the competition is tough between offline and online companies, they online counterparts are found to be more open in dropping their rates a bit just to get a client.

However if you have a bad credit history, then you would be fortunate to a good deal in car loan leaving aside bargain. People with bad credit can rather refer to online car loan companies to offer them car financing provided their credit rating is not that bad. One will have to check on FICO score to see what the credit rating is. This will determine the interest rate, which ranges from 5 percent, with good credit; up to 20 percent with very bad credit.

Although most of the online and offline car loan companies are not ardent in doing business with bad credit holders you can still plead your case by stating exactly the reasons for your bad credit and the steps you have taken to repair your credit.

If you are not confident about you credit score and you are in the market for a bad credit car loan then you most learn how to get a subprime auto loan

Auto Repair During The Life Of Your Vehicle

Thursday, June 10th, 2010

Many people today have to deal with auto repair at least once or several times in the life of their car. With the different types of models the prices can vary for making repairs, maintenance or part replacement. Since the majority of the population spend a lot of time on the road its inevitable to service your vehicle.

For getting repairs done there is a good variety of Auto service centers to get the auto repair done that’s needed for your car or truck. In general you will know how long you will have to anticipate how long you will be waiting once you do stop in to your local repair mechanic. IN the case you are expected to have more than just some routine repairs done you know be given a good time frame for completion of the repairs.

Ordering parts or having some basic repairs done can be frustrating and time consuming. However with the help of friendly staff at your local auto repair company it should be painless. Some basic information is needed for quickly find and make repairs such as the make and model number. You may want to shop around to compare prices doing so can save you a good amount of money.

Many of the possible concerns you may have with your car can be solved with a simple diagnostic tool connected to your Vehicles main computer. Just a simple link is made with the diagnostics tool it can let you know of any problems that exist and if replacement is needed. Once this system check is done you will know for sure if there are going to be any parts needed to get ordered and installed.

To keep your car up and running there are many ways to prevent your car from getting sent to the shop again. More than just having your routine maintenance done its recommended that you or your mechanic change out the filters as often as needed per the mileage. Between this maintenance most vehicles run quite well even better when the spark plugs are replace every couple of year depending on your model.

Damage prevention when you are driving on the road its vital to make sure the tire pressure is enough for the type of car you are driving. The tire thread is also a very important thing to check routinely to prevent a possible accident. With the colder weather in the north with icing streets you could be more prone to accidents and get a huge repair bill in the event of a incident.

If you are thinking of buying a new car in the near future be sure to do some research to find out what the normal yearly repair costs may be. Generally a car or truck that is not an import has lower cost of maintenance and more readily available engine parts in stock. A lot of foreign automobiles do have a higher price tag for repairs for the life of the car. This maybe in many places you might see more cars and trucks on the road that are domestic.

Everyone loves to get on the open road and get to their destination quickly and safely. Many times the need to have your car repaired is not a choice. However with the large selection of Automotive Mechanics to choose from you can ensure you not only save money but time. Expand the life of your car with good routine maintenance to prevent having repairs done often and keep your auto repair bill to the minimum saving you cash.

Looking to receive some auto repair for your car? Then contact your local auto service specialists for everything from painting jobs to collision services!

Going To The Best Car Dealerships

Sunday, May 30th, 2010

There are places all around the country where you can find cars. But how do you find these places. One of them is the many car dealerships scattered about the country. Some of these dealerships are located in small towns, but most of them are in the great big cities and very rural areas of the country.

Buying a car can be one of the most important parts of any persons life. It requires a lot of thought and a lot of money in order to be done correctly and safely. By safely, it is meant that doing this should be done after it is thought about so that you will not default on your loan payments or buy a lemon car.

Lemon is a term that generally refers to a car that is bought and always has something wrong with it. It does not matter if the radiator is bad or if attachments keep falling off. There are many ways a car can be a lemon, and when buying a used car, these cars should be watched out for. They are just money traps and the owner only wants to get rid of it.

There are many ways to tell if a car will be a lemon or not, but buying a car from a safe source is by far the best way of knowing. A dealership cannot sell a bad car because it will hurt their reputation and could be grounds for a lawsuit. A person off the street will not have to worry about it because they could disappear if they wished and never have to deal with the person they sold the lemon to.

This is the very reason why dealerships are the very best choice if you are buying a new car. They will not sell you bad cars so you do not have to worry about that. There are many ways to go about finding a good dealership in your town or neighborhood. Asking some of your neighbors where one is can be a good start to finding one.

The internet can also be one of the best sources for finding a car dealer near you. Even if you live up in the northern woods of the country, the internet will tell you exactly where you can go to buy your automobile. This invention works great for finding the most secluded dealerships.

While it is true that there are dealerships in very rural and largely unpopulated areas, most of the dealerships in the country are located in urban centers. This ensures customers because there are many more potential customers from a larger populations. Giant cities and urban centers such as Toronto and Vancouver house hundreds upon hundreds of dealerships.

In essence, finding car dealerships is the safest way to go about buying a brand new car or a used car. People are not to be trusted because they could just be trying to get rid of their lemon. If this is the case, you could be stuck giving up a lot of money on a car that does not even work. A dealer is the way to go.

Looking to lease a car or inspect your automobile for any possible repairs? Then contact your local dealership to receive the answer to your automotive problems!

How To Keep Auto Repair Costs Under Control

Tuesday, May 18th, 2010

Owning a car can give you a lot of freedom. It can provide transportation and, depending on where you live, may be something you cannot do without. However, cars are machines and they do break down from time to time. When they do, having auto repair work performed becomes necessary. Since repair work can be very expensive, you may be interested in finding out how to keep your costs down. Here are a few suggestions that can help you accomplish this.

The first is to never underestimate how important regular maintenance is. There are two reasons for this. One is that it can help you prevent some wear and tear and you may be able to avoid some repairs just by servicing your car on a regular basis. The second is that even if a small problem has started to develop, technicians may be able to spot the problem at a point where it is much less expensive to fix.

Part of keeping costs as reasonable as possible is learning about the vehicle that you are driving. If you do, you will learn how to tell the signs that repairs are needed. You may even end up learning how to perform small repairs that can keep you from needing to visit your mechanic on a regular basis. Remember, even small repairs can end up costing you a lot of money over time, so learning how to do minor tasks can help you save money in the long run.

A good mechanic is the key to keeping repair costs under control. You need to understand that part of the cost of any repair job is the cost of the parts. The remainder of the cost tends to come from the labor costs that mechanics will charge you. Some jobs can be very expensive because they are hard to complete and take a long time to finish. Others use expensive parts that can drive the cost up. A good garage will not charge you massive labor costs and they will offer you a choice in parts so that you can control those charges as well.

You may also be surprised how much money you can save if you are willing to do a little leg work and research. You should never go with the first quote you get for any major repair work. By taking the time to call several different garages you will usually be able to save some money on the cost of a repair job. There are many people who are afraid to call around to see what kind of savings they can get and these are people who end up paying too much for their auto repairs.

Of course, before you have any work performed, you need to get an estimate. This should be written so that you have physical proof of what the garage should be charging you. It is much more difficult for them to charge you a lot of money if you have written proof in hand. Be prepared to ask questions and find out what any additional charges are so that you do not get charged for testing or other fees that were not necessary.

The age of your car can influence how much it will cost to maintain it. Newer cars tend to cost more for regular maintenance but, because they have not been driven as much, will usually not have the kind of wear and tear that can lead to repair work being done. Of course, if you take good care of a car, it can work well for many years, which is another reason why performing regular maintenance is so critical.

You need to remember that you cannot totally avoid having repair work done to a vehicle. At some point, parts will wear out and break down. However, if you are prepared for this and have taken steps to get to know good mechanics and are willing to spend the time learning about your vehicle, you may be amazed at how reasonable repairs can actually be.

If you are having trouble with your vehicle you should take it to your nearest auto repair shop, as soon as you can. If you aren’t able to do this the likelihood that the repair will become more sever increases.

Getting The Most Out Of Your Auto Repair

Tuesday, May 18th, 2010

When it comes to auto repair, there are a few things that you will need to keep in mind when looking for proper operation of your vehicle. There are a lot of different elements and parts that can fail on a car. Any one of these goes out, and you are looking at a costly repair.

Many auto shops will see this as a golden opportunity to make a quick buck off of your issues. There are some things that you can do in order to save yourself some serious cash on your repair bill. First thing is to change your own oil, many times a person will take their car somewhere t have the oil changed and as a result will pay an arm and a leg to do so.

Making sure that we replace our filters is a very important thing that will need to be done on a regular basis. The basic functioning of a vehicle depends on every part running at 100%, these parts are not able to function properly if the filters have not been replaced and properly maintained.

Another area that a lot of people are scared of when it comes to their vehicles, is the battery. This is an area that often times a person will take the car to a mechanic in order to have the battery replaced. This is a wasted trip to the mechanic. Why pay to have something done, when you can easily have it done yourself?

As any person who has lived in Canada knows, the winter can be particularly brutal on a human. The same is true when it comes to a car as well. The rough winter months can cause a lot of small problems turn into larger problem that requires a lot more attention than the original problem.

If the time arrives that you absolutely must have your care repaired, then make sure that you find an auto repair shop that can do the needed work for you at a reasonable price. Many times this can be the difference between having a wonderful experience that will make you want to go back, and one where you will be out a lot of money and very little to show for it.

Be sure to ask your friends and neighbors who they use for their repairs. Many times a friend or neighbor will be able to give you the name of a person that does good work at a reasonable price. The last thing that you will want to happen is for you to get a mechanic that will only do a semi good job and will take your money in the end.

No matter what your final decision is about your auto repair choices, keep the following in mind, the more that you don’t do on your own, then the more that you will have to pay to be repaired in the end. Make sure that you are getting your money’s worth with whoever you choose for your repairs.

If you are having trouble with your vehicle you should take it to your nearest auto repair shop, as soon as you can. They can perform any repair that is needed such as re-painting or glass replacement.

Things To Consider About Auto Repair

Tuesday, May 18th, 2010

It can happen to anyone. You are driving along. Everything seems fine. You hear a strange noise. Something is wrong with the car. What will you do? You can continue to drive it and hope that it goes away. Maybe if you turn up the radio volume, you will not notice it. At some point, you will have to address the issue. You will need to have the problem fixed. Are you good at your own auto repair? If not, you will have to take it somewhere.

Do it yourself

There is nothing wrong with doing your own car repair. However, you must know what you are doing. Auto parts stores cater to the home mechanic. They are there to assist you with your work. If you are unsure, they will be a good reference point. You may find some auto parts places that will perform free diagnostic work. If you are unsure of that starter or alternator, take it there. They will test it for you. They may have scanning equipment too. You will if you have a bad sensor for example.

Many people can do their own car maintenance. Items like air filters, oil changes and windshield wipers. This allows you to save money on simple auto procedures. However, you may not have the necessary tools for some tasks. Some things may involve a lot of skill and labor. You will need to find a mechanic.

Auto mechanics

Always check out repair shops before using them. Ask around. Family and friends can be a good source of repair shop information. You may find some very good places, this way. Check online resources also. Many shops have their own websites with information.

After you have some businesses in mind, do some research. Check with the Canadian BBB. The Better Business Bureau may have complaint information about them. A good online source is auto forums. You may be able to communicate with people in your area about repair shops. This can be a wealth of information.

When you have someone in mind, go to their place of business. How does it appear to be run? Are things organized? Does someone appear to be in charge? Are customers waiting for their cars? Talk to them about their experience. This may give you a good idea of what to expect.

Try to get a free repair estimate before the work. This gives you the opportunity to shop prices. In some cases, you may incur a diagnostic fee. This may depend on the type of problems that you have. Try to get several estimates. Are the prices close? Go to the one that seems the most organized. Price is not that important, unless there is a huge difference.

Final thoughts

Your car may be running fine. However, no one knows when they will experience car problems. Can you do the work yourself? You will save a lot of money. Visit your local car parts supply store. They will be happy to help you with your needs. It is in their best interest for you to do the work yourself. However, there will be times when you will need professional assistance with your car. Make sure that you check references first. If you can get several estimates, you will be in a good position to save money on auto repair.

If you are having trouble with your vehicle you should take it to your nearest auto repair shop, as soon as you can. They can perform any repair that is needed such as re-painting or glass replacement.

When You Go To Car Dealerships

Thursday, May 13th, 2010

Is it time for another car. Will it be a new car? Maybe you are buying a used car. Whether you live in British Columbia, Saskatchewan or Ontario, it does not matter. Some things about car dealerships are the same. The more knowledge you have the better deal you may receive. Here are some things to consider.

Car salespeople are there to help you buy a car. However, they are also trying to make money. The more you pay for your car, the more money they stand to make. Keep this in mind at all times. Most of them are honest. However, they are trying to make a living, too.

Know what you want. This will help you stay focused. If you want a particular brand and type of car, do not settle for less. Someone may tell you that one particular car is as good as the one you seek. Keep in mind, their motivation. If you want a certain car and they do not have it, they lose commission money. It is in their best interest to sell you something that they have.

Do you want to buy a substitute for what you seek? That is fine, if it is your decision. Be certain that you have all of the facts first. You can do that by studying about the kind of car you want. There is much information on the Internet. Seek out discussion groups or forums about your car. Email or talk to owners of your type of car. You will get very good and accurate information that way.

Another tip, do not be afraid to walk away at any time. There are many cars out there for you. Do not let anyone rush you into a decision. This is something that you will be paying on for several years. You will have to depend on it for your transportation. It is OK to take as much time as you need.

Do you wish to trade the old car in? You might want to exercise caution. Do not talk about trade-ins while making the deal. If they ask, tell them you are unsure. Work at getting the best possible seal with no trade-in.

Suppose your old car trade-in is included in the deal. How much are you getting for your car? It says two thousand dollars on paper. However, you may have got the same deal without the trade-in. New cars can be marked up many thousands of dollars. In some cases, you may be better off selling the old car. Otherwise you may be giving it away.

One more thing, be careful when it comes to financing. Try to be already approved when you start looking. Often times, you can get a better deal when you get your own financing. Never make a deal based on monthly payments. There can be too many hidden costs. Make your deal on the actual price of the car.

Final thoughts

All over Canada, people are looking for cars. Do not get in a hurry. Do not settle for something less than what you really want. Understand that the car dealerships are trying to make money from your purchase. Know what you want before you enter the lot. Do not make a deal based on monthly payments. This is a good way to inflate the price of the car. Make your deal on the total cost of the vehicle.

If you’re looking for a new vehicle, just need a tune up or need some repairs done one your current vehicle, the best place to go is your nearest car dealership.

Information You Should Know Before Visiting Car Dealerships

Thursday, May 13th, 2010

When you are in the market for a new car in Canada then here are some tips to help get you started. Car dealerships usually are the place you will go. Like Rambo going back to war you will need the tools to help you win the battle and get you the new car you want and need within your budget. Here are some tips to get you started.

The most important thing to do is go to the dealership prepared. Know what you want and what you want to spend before you ever set foot on a dealer’s lot. If you have a family, you may be looking for a practical Mini van, Sport utility vehicle or a crossover. If you work in construction, landscaping or something similar you may need a pick up truck. Also if you are single you may want a sports car. It doesn’t matter what you want nor need, you must go in prepared.

Start out your prep by looking online. You can get all the information you need to get you ready for the lot. Use these resources and study them thoroughly to stop you from paying for an over priced car. For trade in information you can know what the real value of your car is. You will have the job of getting the most for your current car or truck. A dealer will give you as little as possible for it to make the most money when they sell it again.

So you have done your research. The next step is to pick a dealer. There are many choices in, lets say, Vancouver. Dealerships all have a website, start your shopping there. You have already decided what type of vehicle you are looking for so that will narrow down what dealership you will choose.

When you find car dealerships you like then start looking at their inventory. When you find a car you like get the VIN and mileage as well as the make, model and color. You will see online that the price may be higher but know that there is bargaining room when you know what the car is actually worth.

If you need financing then you can use their website to fill out an online application. This is a good idea to do ahead of time and not sit in a small room and deal with it then. It will make the whole experience easier when you are pre-qualified. If you have your own financing move on to the next step.

When you finally get to the lot you will be Rambo ready. Have at least three choices in cars to look at in case on or possibly two are no longer there. Do not be surprised if a sales rep tries to sway you to another car that costs more money. Stick to your guns and stick to the vehicles you have researched to ensure you do not go astray.

After you have made it clear that you want the car that you came in for the salesperson should back down and begin his presentation. He should know every detail of the vehicle that you wish to purchase. If he starts to stumble on any aspect of the vehicle ask to speak to his manager (a good salesperson will do this on his own in order to make the sale). This will get you out the door with the vehicle that you have researched. Know before you go and do your history check and get a great deal.

If you’re looking for a new vehicle, just need a tune up or need some repairs done one your current vehicle, the best place to go is your nearest car dealership.

Auto Mechanics - The Right Tool for the Job

Tuesday, March 30th, 2010

It is often more than amazing. Motorists will spend a fortune purchasing and dolling up their new vehicle but will often scrimp on basic maintenance and care in order to keep their vehicle and its seasonal parts up to snuff.

Generally it can be said that the two most frequent causes of breakdowns are either running out of gas and flat tires. While it can be said that in 2010 with cell phones readily available as a standard communications and safety for most motorists and the general public that help in the form of local CAA, AAA, auto manufacturer or big box store roadside assistance or available tow truck can be had readily easily if not in a flash, that it never hurts to carry an empty, gas can - just in case of emergencies like this. Either it may come in handy for you, or to help out another stranded motorist on the road. A word of caution though. Never carry that gasoline container full of gas. It’s a safety and fire hazard in your trunk.

It seems now that virtually every new engine, transmission or other major components now installed in foreign and now standard North American - USA, Canadian and Mexican made NAFTA vehicles are made to metric standards.

Carry an old towel as well, in these situations and regards, since installing tire chains can be a most wet and dirty job. A word of seasoned advice, from a professional driver well knowledgeable about roads and automotive repairs is that if you have never accomplished this task, under duress, then you may well want to practice ahead of time on a dry day in the comfort of your driveway, or perhaps in a parking lot on a quiet Sunday afternoon. You might even want to keep your tire chains easily stored away in an old duffel or gym back. Old hockey bags are great for this purpose. This way they are easily spotted in a pinch and well will not be a nuisance either in your trunk, or truck storage areas.

No doubt about it. Your basic auto tool kit and first aid setup can both be a convenience and a lifesaver to the average motorist - yourself and your family included.

Edmonton Truck Service Center