New ‘57’ registration cars, which will be available from September, are likely to cause problems for car buyers who have not carried out proper research, says car insurance provider esure.
The company’s research reveals that 35% of adults in the UK would not look into obtaining an insurance
quote before buying a new car, either to find out a price, or to find out whether they are actually insurable. 43% would not even research the car’s insurance group, which could have a significant impact on premiums.
Another fact uncovered by esure is that people in the UK are reluctant to barter over car prices. 11% of participants believe the price advertised is set in stone and is not open to negotiation, with women less likely to haggle than men (72% and 79% respectively).
Perhaps most worryingly is the lack of concern shown in deciding how the car will be paid for. While 19% of respondents said they would spend more than 20 hours deciding which car make and model to buy, 26% would spend less than an hour, if any time at all, thinking about ways of paying for a new car. This could end up costing customers hundreds, or even thousands, of pounds more in the long run.
According to uSwitch, customers could waste as much as £985 by choosing impractical finance deals offered by car dealers.
Director of underwriting and business development at esure, Colin Batabyal, said: “As a nation, we’re always out for a bargain and value for money, yet motorists aren’t putting this into practice when it comes to buying a new car. It is crucial for all motorists to do their research before stepping on the forecourt and be one step ahead of the salesman.”
Drivers looking for a new car should shop around for insurance quotes before buying and should always contact their current insurer to see how their current premium will be affected. Online discounts often offer the best value for money.
Drivers should also be aware of exactly what their insurance policy provides - including the small print - and should make sure they know the car’s insurance group before buying.
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