Media post: The 2017 Mitsubishi Mirage is all new this year

The 2017 Mitsubishi Mirage is a great little hatchback. It is affordable, stylish and gets incredible gas mileage. It’s also front-wheel drive, which is a real bonus when you need to maneuver in and out of traffic and any kind of weather conditions. The cool thing about this year’s Mirage is that it is practically a brand new car. That’s right, Mitsubishi pulled this subcompact off the market for an entire year just to upgrade and improve it.

The engine has been improved by four-horsepower and the brakes have been enlarged on all four wheels. There’s a new steering wheel, revised suspension tuning, newly designed headlights and taillights along with a great new bumper. The interior has been gone through also and the glossy black trim was a terrific idea because it gives the Mirage an element of “cool.” The interior also has Android Auto and Apple CarPlay functionality that brings it into the future right now.

Safety is always a consideration at Mitsubishi and the Mirage has incorporated many safety features. There are front seat-side airbags, side curtain bags and a driver knee bag. Anti-lock brakes all around (rear drum and front disc), along with a traction and stability control system. On the GT and SE trim levels (there are three levels) the Mirage has a standard rearview camera and rear and front parking sensors are available as options on all levels of trim.

Speaking of safety, the Mirage was awarded the highest rating of “Good” by the IIHS (Insurance Institute for Highway Safety) for moderate overlap frontal offset, roof strength and side impact tests. For rear impact crashes the Mirage was also awarded “Good” for whiplash protection in its seat/head restraint design. The Mirage also earned high scores for frontal impact, side impact and over all crash protection.

Since the Mirage is well known for its economic value we should mention that the EPA’s estimate for this subcompact’s fuel use is 36 miles per gallon combined (city and highway). That’s with the manual five-speed transmission. The EPA goes even higher when judging the Mirage with the CVT (Continuous Variable Transmission). It gets 39 miles per gallon combined, which is almost incredible for a non-hybrid car. The Mirage is once again on the showroom floor just waiting for you to test drive it. Come see it at Lone Star Mitsubishi.

Media post: The 2017 Mitsubishi Lancer is a great all wheel drive compact

This compact sedan will surprise you with all that it has to offer. The 2017 Mitsubishi Lancer is available in all-wheel drive, which is nice no matter where you live; it just makes your car safer and lets you drive in any kind of weather with peace of mind. Other standard features for the 2017 model year are the rearview camera and the 6.1-inch touchscreen. It has also received a front-end make over and the styling gives the Lancer the look and feel of much more expensive brands.

Besides being a great looking compact sedan, the Lancer has a strong 2.4-liter engine that provides quick acceleration and will get you where you want to go on time and on schedule. That get up and go comes in all three trim levels: ES, SE and SEL. The base trim level is the ES and it comes with 16-inch alloy wheels LED running lights, integrated turn signals, automatic climate control, Heated mirrors, remote keyless entry, a tilt steering wheel, cruise control, 6.1-inch touchscreen interface, CD player, rearview camera, USB port and a sound system.

The SE has some additional features like a six-speaker sound system, heated front seats, keyless entry and ignition, sport tuned suspension and 18-inch wheels. If you select the SEL trim level you’re going to get all the SE’s features plus automatic wipers, upgraded interior, leather upholstery, a leather wrapped shift knob and steering wheel, an auto-dimming rearview mirror and automatic headlights. Some of the options that are available on all Lancer trim levels are: LED fog lights, rear parking sensors, a rear spoiler, a 7-inch touchscreen and a navigation system.

The 2017 Mitsubishi lancer has great fuel economy. The EPA estimated the Lancer will give you 28 miles per gallon combined with a manual transmission and 30 miles per gallon with a CVT (Continuous Variable Transmission). That is with the 2.0-liter engine. When driving the 2.4-liter motor and all-wheel drive, the EPA gives the Lancer an estimated 26 miles per gallon combined. You can test drive a Lancer with either one of these engines at West Loop Mitsubishi.

The Lancer has plenty of safety features such as, traction and stability control, driver knee airbag, full-length side curtain airbags, front seat side airbags, rearview camera and antilock disc brakes. It has earned high safety marks from IIHS (Insurance Institute for Highway Safety) for overall frontal protection and side protection, side impact, roof strength, moderate overlap front impact and head restraint.

Media post: The Chrysler 300 Sedan – A Remarkable Choice

Ah…the Chrysler 300 sedan. What a car! It exudes luxury and has Chrysler’s reputation for quality and fine workmanship written all over it. The 300 is one of the finest sedans in the automotive world. It can compete on any level with all the affluent international brands but comes with an affordable price tag.

This bold automobile with the big Chrysler name provides plenty of power to navigate the highways and through any kind of traffic. It also is one of the smoothest and quietest rides on the planet. The comfort factor goes way beyond ten – on a one to ten scale, of course. And the steering and handling will surprise just about everyone who has ever driven a car.

Believe it or not, some people buy the 300 from Lone Star Chrysler Dodge in San Antonio just to have a comfortable little apartment in their driveway. There is so much room that they have to be cajoled back into their homes so they can interact with their families. The Chrysler 300 has so many pluses that many buyers just never want to leave the cabin. Unfortunately, this is the car that you’ve heard about that has broken up so many families. Once the parents get behind the wheel or sit in the spacious backseat, it’s all over.

Some cities, like San Antonio, for instance, have a trained Chrysler 300 Ejection Team who works with social services and the local police. They have gone through several years of sensitivity training along with psychological reinforced cognitive courses and they work sometimes 17 or 18 hours straight just to get the parents out of the Chrysler 300 and back into their home. It usually always works out the same though. Once the parents leave the car, the kids jump in to see what the attraction was and then the “B” team of ejectors comes in to deal with the adolescents. Once the whole family has been talked down and is back in their house, the car is towed back to the dealership.

Hardly any miles are on the odometer and there is no wear and tear on the car at all. The buyers who fall in love with the car always keep it in pristine condition. So, let this be a warning to you if you plan to purchase a Chrysler 300 – Be careful!

Top 5 Best Selling Cars in Australia in October 2017

October was a record month for car sales in Australia with 95,763 new vehicle sales. Small cars and SUVs together with a continued strong demand for light commercials drove the market sales according to data released by the industry’s official statistical service, VFACTS. Total industry sales so far this year are 0.5 per cent ahead of last year’s record.

So far, 2017 has seen 984,931 new car sales in Australia compared to 980,433 this time in 2016. 2017 has seen 6 record months for sales. Sales in passenger cars however have declined in 2017 by 3.8 per cent this month, though there has been an increase by 9.7 per cent in demand for small passenger cars. The SUV market grew by 1.2 per cent compared with the same month last year and light commercial vehicles grew a staggering 18.5 per cent. So what are the best selling cars in Australia in 2017? Let’s take a look.

Top 5 Best Selling Cars in Australia in October, 2017

5. Holden Commodore: With 2,418 sales in Australia in October the Holden Commodore comes in at 5th

4. Ford Ranger: In 4th place we have the Ford Ranger with 3,074 sales last month.

3. Toyota Corolla: in 3rd place there’s the Toyota Corolla with 3,088 sales.

2. Toyota Hilux: Australian’s also love their Toyota Hilux’s with the Hilux coming in at 2nd place making 3,812 sales for the month of October.

1. Hyundai i30: With 3,983 sales over October Australians seem to love the Hyundai i30 the best.

Australia’s Market Leader

Not surprisingly, seeing as 2 Toyota models made the top 5 last month, Toyota remains Australia’s market leader. With the Toyota Hilux as Aussie’s 2nd favourite and the Toyota Corolla in the top 5 as well, Toyota has an 18.6 per cent share of the market. The maker of the Aussie favourite of the Hyundai i30 has a 9.2 per cent share of the market in Australia. Mazda who does not make the top 5 list comes in with 8.4 per cent of the Australian market share. Next is Holden with 8.1 per cent while Ford has 6 per cent market share.

Sales by State and Territory

Which state or territory has the largest sales? Of course, the largest populations will have the largest car sales so let’s instead take a look at the percentage increase and decreases in the states and territories to get a better overall look at the Australian market.

8. Tasmania: Tasmania had a 3.5 per cent decline last month with overall car sales.

7. New South Wales: New South Wales decreased in October as did Tasmania, with a 1.2 per cent decline.

6. Victoria: Rising by 2 per cent, Victoria had the lowest increase amongst the states and territories for the month of October.

5. ACT: The ACT increased sales last month by 2.6 per cent.

4. Northern Territory: The Northern Territory increased sales in October by 4.3 per cent.

3. Queensland: Queensland follows the Northern Territory with a 5.9 per cent increase in sales.

2. South Australia: The second largest gain came from South Australia with a 7 per cent rise in sales.

1. Western Australia: Posting the largest sales increase, Western Australia had a massive sales increase of 11.6 per cent.

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Media post: What does it feel like to drive the BMW i8

Picture courtesy 

The BMW i8 – continuing excellence

The BMW i8 represents the epitome of German engineering by harnessing the combined power of an electric motor and a turbocharged mini engine, to produce staggering performance not normally found in hybrid vehicles. A carbonfibre body provides agility, safety and handling, while a rear mounted engine works in perfect unison with a centrally positioned battery pack with no performance lags during power switch overs. Clever engineering design delivers power to the front axle directly from the electric motor and power to the rear from the petrol engine. This, logically of course, delivers full four wheel drive power when electric and petrol are in action simultaneously. The BMW i8 driving experience is truly breathtaking.

The i8 experience

Driving the i8 is truly incredible. The rapid acceleration offered by the electric motor and turbocharged 1.5 engine together thrusts it forwards to 62mph in 4.4 seconds. The steering is precise and this beast has perfectly even weight distribution. Driving the i8 is like etching a line across ice with a razor and with a top speed at over 155mph, it doesn’t hang about either. It offers Comfort, Eco Pro and Sport mode, to tempt your ego and equally appease your conscience. Apart from the top speed, driving the BMW i8 is as inspiring as equivalent non-hybrid sports cars, and out performs many of them too. Not that anyone could legally drive the i8 (or any competitor) anywhere near their top speed in the UK.

Where can I drive the i8?

Test driving the BMW i8 is sure to push you over the fence in favour of this sports hybrid. Maybe the fact that one can drive for 22 miles fuel and pollution free will help with the deciding process. Or maybe the fact that the performance and handling would put many non-hybrid sports cars to shame. Or perhaps even the sheer elegance and prowess belying a car with such green credentials! What ever it is that tips you over the brow of indecision, test driving the i8 will win you over. Most reputable BMW dealers will be able to arrange a no obligation test drive, so call to arrange your BMW i8 experience. Alternatively, If you want to test this car to its limits, then there are many racetracks around the country you can do an experience day. Many experience day operators now stock the BMW i8 as one of their vehicles you can race around one of many tracks in the UK. This option is advisable if you are looking to really give this car a run for its money and see its potential.

BMW i8 prices and specifications

The stunning exterior offers superior road presence with adaptive LEDs, parking sensors and 20″ BMW i-Turbine-spoke style alloys as standard and the interior boasts BMW Professional satellite navigation, leather heated seats, Bluetooth with USB and Voice as a standard, where other cars in the same class charge hefty premiums for less equipment. A full list of all BMW i8 specifications is thoroughly impressive. i8 can deliver up to a huge 362hp, 3700rpm, and a fuel consumption of up to 76 mpg combined. BMW i8 prices are also quite fair considering what they are, what they do and how they do it!

BMW i8 new or used?

Whether you are buying a brand new or used model, be sure to shop around to get a good idea about average BMW i8 prices. The benefits of buying used include the availability of much lower prices for the same luxury and performance, with most used models purchased from reputable BMW dealers being very well maintained. However, buying new means you can choose your exact colour and options and know that the car was tailor made for you. Most BMW dealers will have a selection of approved used cars which have passed rigorous checks and have been brought back up to specification where there had been any technical issues. New or used, the BMW i8 is the future of luxury automotive engineering with a green CV. It performs like a sports car but delivers on environmental responsibility.

Media post: Main reasons why people lease rather than buying a new car

Car Lease: is it for you?

Cars are quick to depreciate. Your shiny new vehicle today, won’t have the same value after five years. Remember, a car’s value starts to drop as soon as you drive away from the dealer. And with that said, what can buyers do to protect themselves from spending a lot on a vehicle that will one day lose its shine?

The answer, of course, is getting a lease.

What is a car lease?

In simple terms, a car lease is when a person rents a vehicle for a fixed amount of time for an agreed upon amount between the car owner and the buyer.

Some owners who lease vehicles only stay in a place for a fixed number of years. Doing this allows them to return the car after the contract ends and they can move on to another city where they can then lease a new car.

But leasing is more commonly taken on by businesses because it lets them keep their machines new and they are guaranteed the quality of each leased vehicle.

There are many reasons as to why people choose to lease a car rather than take on a car loan. The number one reason is that lease payments are more affordable compared to getting a car loan. That reason alone is enough for most people to consider getting a lease.

But buyers also need to be careful, because breaking the lease on your car can mean that you will be responsible for paying any fees that it could incur. And that could be costly.

Why should I lease a car?

There are plenty of reasons as to why you should lease a car as opposed to buying one off the showroom floor. Here are a few reasons to rent a car:

It is easier. Compared to buying a brand-new car and committing yourself to a five or more-payment plan, rental is a more economical option. It is a lot easier on your wallet and a lot more comfortable in your mind, as you don’t have to worry about the depreciating value of the unit over time.

Ideal for business. If you lease a car for your business, it can become a tax deduction. Your hired car can get a higher tax deduction compared to buying and owning a vehicle for your business which holds the same purpose.

Better for your wallet. When buying a car, you are expected to make a down payment that can be considered pricey. The same can be said about the monthly payments you prepare for the next year or two. With a car lease, you can get the car at a price you can be more comfortable with on the long run.

Don’t worry about Car Value. Drive and get to your destination in style and with no worry for the next few years without worrying about your car’s declining value. A lot of people who buy their vehicles often worry about the difficulties they face when it is time to sell off their car for a new one.

You are protected against future loss.  Another advantage of leasing over buying a car is that you are protected against any loss that can happen over time. This includes the unit’s wear and tear, eroding market conditions, and even a failed economy. Come what may, because if your car is leased, you’re sheltered from the storm and will never have to worry about how you will sell your car in the future.

Rent to own. Some lease agreements allow the buyer to rent to own a car after the contract has ended. This allows the person if he wants to, allowing him to own a car sooner compared to when he gets a car loan.

There are a lot of other reasons to lease your car. But of course, it also has its downsides. If you buy a car from a car loan, you’re free to do what you want and even go for long out of town drives with your mates.

You can’t do that with a leased car because the lease agreement will state that you can’t exceed a certain number of miles with the vehicle while it is in your care. This usually limits the buyer to only using the car for everyday use like driving it to work or school and nothing more for the next few years. So, consider what you plan to do with the vehicle before you decide to lease or buy.

Media post: Waymo’s New Look More Than An Image Makeover

Credit: Wikipedia

The reaction was mixed when Google finally released its first self-driving prototype in 2014.

The vehicle, which wouldn’t look out of place in the Pixar Cars movie, certainly wasn’t the futuristic design that many expected.

In an interview with Forbes, designer YooJung Ahn claimed that this was the company’s conscious choice. Because the vehicle was only capable of reaching speeds of 25mph, the company wanted to reduce driver’s expectations.

The fleet of friendly Fireflies – Google’s nickname for the prototypes – racked up millions of test miles. However, not long after, Ahn revealed that the vehicles were to be retired.

As a result, it became clear that Google was focusing solely on the self-driving technology itself, not becoming a car manufacturer.

The company’s director, John Krafcik, first suggested this over Christmas at the launch of Waymo.

“We’ve been really clear that we’re not a car company. Although, there’s been some confusion on that point.”

The important shift In Google’s focus

Source: Waymo

Initially, there were rumors that Google would build  ‘robot taxis’. This was due to Google’s first goal to manufacture their own vehicles and self-driving software.

Consequently, there was increased concern amongst car manufacturers that Google would dominate the market.

However, Google’s shift in focus has meant that hardware companies are falling under their radar. As a result of this, more car manufacturers are willing to collaborate with the company.

This allows driverless technology to be brought to the market at a faster rate.

Why the shift in focus?

One of the main reasons behind Google’s direction change seems to be due to money.

Google’s spending in 2015 was double that of 2014. Most of the losses were because of failed commercial projects, such as Google Glass.

As a result, it became important for the company to meet strict financial targets moving forward.
Therefore, the company’s change of focus has been a way to reduce risks and losses. It also allows Google to receive a faster return on their investment.

Google’s newest self-driving vehicle, the Chrysler mini-van, emphasizes Google’s desire to lower expenditure. Self-drive technology is integrated into an existing and practical car model.

Not only has this saved by reducing costs on aesthetics, but Google can focus their expertise on the technology. Because of this, Google’s software has been able to progress rapidly.

Not just Google taking this approach

Source: Waymo

Google aren’t the only ones putting the brakes on their self-driving aspirations. Apple recently announced that it would also be focusing on self-driving technology.

Previously, Apple had planned to manufacture their own vehicle as well.

So, it looks more likely that regular car manufacturers will continue to design cars and integrate self-driving tech into them.

Whether you are interested in self-driving technology or happy to keep trading standard automatic or manual cars, keep an eye out. This step into the future is closer than what we think.

Media post: Setting Up a Help Centre for Your Car Parking Machines

How satisfied are your customers when they leave?

Few people see the value car parks carry. They can function as part of a specific business or as a parking area for various entities. In all scenarios they carry the potential to benefit a company or impact it negatively. This may seem a drastic statement. What car park owners must keep in mind is customer satisfaction. Consumers spend a lot of time inside their vehicles. Aspects such as traffic and parking options determine many decisions people make. Drivers who are in a rush tend not to use large areas with car parking machines. The processes of entering and exiting the area add valuable minutes to their travelling times.

Why is a Help Centre Important?

A help centre must be seen as an extension of customer services. Drivers may become repeat customers if they have a favorable experience in your car park. Consumers prefer not asking for help. They see this as a waste of time. When they do ask for help they desire a quick resolution. This means that to them, a decent car parking service is worth paying for. The keys to setting up the ideal help centre is listed below. These factors must be used as guidelines for the creation and daily management of your help centre.

  1. Plan Your Centre

The correct location is key to success. Staff working in the help centre must be close to:

  • Car parking machines so they can assist in person when necessary
  • Or remotely accessible from an intercom based system on the car park machine
  • Management to discuss important situations

The office must be stocked with all that’s needed to handle:

  • Queries
  • Payments
  • Emergencies
  • Refunds

When staff members have a view of the car park it adds even more security to your site. It’s helpful to see staff members as added security personnel.

  1. Human Resources

The staff of a help centre is one of its most important assets. You must source employees with these characteristics:

  • Excellent people skills
  • Ability to solve problems and take initiative

A car park contains people and some have volatile personalities. Your staff members must handle them in a professional manner while assisting them with problems at the car parking machines. The area is also filled with cars which can cause challenging situations:

  • A car that stalls
  • A car that’s broken into
  • Fire

For all these situations people may ask help via car parking machines. Staff must handle and solve these problems.

  1. Get Quality Equipment in Place

A car park only operates as well as the equipment used. When boom systems or car parking machines fail the help centre must be able to assist. Quality equipment is essential.

Communication Equipment

When drivers are expected to pay at car parking machines they are entitled to excellent service. A help centre’s level of service is determined by communication equipment since this plays a central role in all activities:

  • Clear communication with consumers is vital. Make sure the intercom system delivers clear audio.
  • Effective communication with other staff or superiors. Telephones or radios must be able to handle the conditions. When a car park is underground, devices must have enhancers so signals aren’t lost.

Emergency services

When many cars are on your premises you don’t want emergency situations to escalate.

The help centre for your car parking machines may be the first place people ask for help when:

  • Medical emergencies occur
  • Natural disasters take place

Supply the centre with general medical supplies. There must be direct lines to emergency services such as:

  • Police
  • Hospitals
  • Fire brigade
  • Towing services
  1. Use Modern Technology

Modern technology benefits most business spheres. A help centre can become more dynamic by using mobile applications.

Mobile applications can keep all staff members informed regarding:

  • Problems with car parking machines so alternative plans can be made
  • Safety issues in certain parking bays
  • Changes in policy to minimize misunderstandings
  • Work schedules
  • Emergency issues that can influence the logistics of the car park

Implement the use of apps with all staff. When a member of the public asks for help updated information can be supplied easily.

  1. Communication is Key

In all the situations mentioned above optimum communication is vital. Staff members need:

  • Equipment:Staff must communicate with consumers via the car parking machines. Secondly they will communicate with each other and management. Install equipment for all these channels of communication.
  • Guidelines for communication: During a crisis there must be clarity regarding responsibilities and the necessary actions. Guidelines for these must be in the help centre office always. A clear chain of command is paramount.

These communication channels must be audited and tested regularly. When unique situations arise—such as reserved parking for special guests—it can be handled quick without confusion or time wastage.

  1. Invest in Training

Don’t let a help centre open unless staff members are prepared. Training must take place beforehand instead of on the job.

General Information

A company’s code of conduct must be implemented in the help centre crew. They may be the only representatives of a business the public comes in contact with. It’s essential they act in ways the company approves of.

Technical Training

The help centre staff must understand the car parking machines and the payment methods available to the public. It’s beneficial if they can troubleshoot and do repairs. Drivers’ problems can then be sorted out fast.

Health and Safety

Any public area must adhere to laws. This includes health and safety regulations. During emergency procedures, the public invariably contacts help centres. Staff must assist with advice that is in line with the law. It may be necessary to train in security and first aid. Staff must handle dangerous situations and help with basic medical emergencies when necessary.

  1. Audit

No business can stay on par without regular audits and improvements. Put a report system in place:

  • Staff must report on requests and problems. This shows which areas need improvement.
  • With technological advances you can obtain reviews or feedback from the public via an app. Determine their areas of concern to further improve the help centre and car park.

It’s about offering drivers a fast answer to parking problems. Most of the time car parking machines will take care of the public’s requests. But one problem can cause an entire breakdown, which influences all motoristson site. Your help centre must know how to find a solution—fast.

Media post: How to Save Money Over the Lifetime of Your Car

Saving money on a car isn’t all about the price you pay when you drive it off the lot. Saving on car ownership involves small decisions made each day that you own the vehicle. Of course, choosing the right car for savings is important; see this list of cheapest cars to insure in Canada for good examples. But no matter what car you own or plan to own, there are expensive ways to own it and affordable ways to own it.

Insurance – Insurance is necessary for every car on the road, but not all owners pay the same rates. Car insurance varies according to many factors. Sports cars are more expensive to insure than towncars. This is the case for many reasons. Luxury vehicles cost more to repair, because their parts are rarer and more expensive, as well as because the repair work may be more specialized. Faster and stronger vehicles are more likely to be driven at speeds that could cause greater damage. Finally, desirable vehicles are more likely to be stolen. Think about these kinds of considerations when choosing any vehicle at all, not just sportscars. Choose one that will be easy to insure, insofar as that is a high priority for you. In some countries, old vehicles can be insured for next to nothing.

Maintenance – It costs more to maintain a car over time than it does to repair a catastrophic mechanical breakdown. It may seem like you’re saving money pushing your car to the limit, skating by on nothing but oil changes. But, this tends to shorten the life of your car and make it more expensive to keep on the road in the long run. It may seem disheartening to regularly maintain a vehicle. “I just had this thing in the shop a month ago!” Even so, this is better than having to sell your car for scrap 6 months down the line, only to buy a new one. Buying a new car is almost always the most expensive part of owning said car, and should be kept to a bare minimum.

Don’t Rely on Your Car for Everything – There’s such a thing as over-driving a car. Your car might be built for high performance, and may be able to stand up to some abuse. But why drive when you could transport yourself by bike, ride share, walking, or public transportation for as cheap or cheaper? This will save on fuel costs, wear and tear, and will be more resource-efficient than constantly driving your car, even when you don’t absolutely have to.

There are lots of ways to make owning a car affordable. Expenses of car ownership are associated with predictable uses and behaviors. If you can cut down on these, and up the ante when it comes to preventative maintenance, you’ll find that you can affordably drive your car for many years to come. Keeping it in a good condition will also increase its resale or trade-in value, further adding to the money you save over the lifetime of your vehicle.

Media post: Survey Finds Only One in Ten Drivers Have GAP Insurance

2016 saw a record high for used cars sales, with the volume of sales declining slightly coming into the start of 2017. However, surprisingly, a recent survey from Opinium has revealed that very few drivers are properly protecting their investments and are leaving themselves open for potentially huge loses, should they crash.

In a survey of 2,000 drivers, only just over a quarter of those surveyed (28%) said that they were familiar with GAP Insurance and what it entailed. Over two thirds of respondents (72%) said that they had either never heard of the type of insurance, or were unfamiliar with it. Surprisingly, only 11% of participants in the survey revealed that they actually had GAP Insurance.

What Is GAP Insurance?

GAP insurance can be vital if you pay for a car via finance, particularly if you only offer a small deposit and spread the payment over a number of years.

This is because, if you’re involved in an accident, and if your car is written off, then your insurance company will only pay out what the car was worth at the time of the accident, not the amount that you paid for it. Due to the fact that cars depreciate in value – sometimes rapidly – this could mean that you’re paid out less than you owe, potentially by thousands of pounds. With studies showing that one in five drivers have a car written off during their time spent driving, this is a serious issue.

GAP Insurance means that the ‘gap’ between what your car is worth currently and the amount paid by the insurer is covered. Your GAP insurer will pay the difference between these two amounts, meaning that you’re not out of pocket and don’t owe any finance on a vehicle you no longer own.

Why Don’t Drivers Have GAP Insurance?

As the above has shown, it appears as though GAP Insurance is vital for most drivers with finance. However, many drivers do not currently have GAP Insurance because they’re unaware of its existence.

In response to the above survey, 35% of respondents didn’t know that GAP Insurance existed, while 29% were never offered it and 19% said that they didn’t know enough about it to make an informed decision. Only 15% didn’t buy it because they didn’t see the point of it.

How Do I Get GAP Insurance?

Getting GAP Insurance is easier than ever before. Thanks to the advent of the internet, it’s far simpler than ever to research what level of coverage you need, and to find the best provider for your requirements.

Whereas people used to be tied into what they were offered at the dealership, now online companies also offer GAP Insurance, which can help to provide a more affordable solution than the forecourt options, which often come at a premium.

However, before you buy GAP Insurance, you should always do your research to make sure that you’re getting the correct level of cover, as the cheapest package may not necessarily be the best.

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