4 Things to Think About When Buying From Car Dealers

Before you go to visit car dealers, it’s worth putting in a little time to research options. This is a process you don’t necessarily have to undertake alone. Salespeople can be useful allies in this acquisition, both in the initial purchase and further down the road. Here are a few things you can do to better equip yourself for the experience:

Do Your Research

The internet has allowed us to connect in ways we could not have imagined and allows for a level of transparency not seen before. This is advantageous for someone in the market for a new vehicle. You have the ability to compare prices, conditions, makes, and models at several different car dealers without leaving your home. You can even begin communicating with a salesperson online via email or chat features, building a relationship with him before you ever step foot on the lot.

Leasing and Financing Options

Purchasing a new or like-new vehicle is a big financial undertaking. You may opt not to take on this burden all at once. Leasing and financing are both options you can consider to alleviate the initial cost of buying an automobile. And a salesperson can be very helpful in navigating these options. Since they have worked with many customers, they have a comprehensive view of the market and would be able to tell you the benefits and drawbacks of leasing and financing for someone in your unique financial situation.

Leasing and financing are also both useful options because many car dealers have begun to offer maintenance packages with their loans. This means that you won’t have to worry about where to take your automobile when you need an oil change or your tires rotated.

Online Estimators

Many car dealers have started offering value estimators on their websites. This means you can get an idea of what your trade-in is worth without ever leaving your home. Online resources can also provide information about common problems with certain models. The reasoning for the value of an automobile often includes customer complaints about that model.

See the Car in Person

Terms like “good” or “like-new” can seem incredibly vague until you see the vehicle and its condition yourself. A salesperson will also be able to tell you about recent maintenance and body work, giving you a more comprehensive view of the automobile’s condition and value.

Good car dealers will always be open and upfront about the process of buying a vehicle. A salesperson will help you with the steps involved in getting you behind the wheel. These extra tips will allow you to purchase with confidence.

The Future of Auto Mobility and Insurance

Mobility has taken over every industry and has dipped its proverbial toes in the auto insurance industry as well. With GPS and accelerometers as high-tech accessories, mobile technology for the automotive industry too has come a long way and has many more miles to go. In an age where digitization and mobility is one of the bare necessities, most auto insurance providers are lost under heaps of paperwork. That’s the reason why the concept of auto mobility has shifted its focus to the insurance industry.

A combination of mobility solutions – telematics, analytics and communications, has eased the burden for auto insurers through information on driving style, collection of the same, analyses and reports that benefits all the stakeholders.

User-Based Insurance (UBI)

Insurance providers struggle with allocating premium amounts for their clients. Despite their best calculations, they have incurred losses. Traditionally, insurance companies calculate premiums based on driving records, vehicle use, previous claims, insurance scores based on credits and so on. Policyholders believe that these premiums are usually a fixed value.

Telematics technology will change the face of auto insurance through the usage-based insurance (UBI) pricing system where clients pay as per their usage, driving behavior that is. Pay-as-you-drive gives clients and insurers the freedom to calculate premiums based on not just driving records and vehicle usage but actual or real-time driving information.

Real-time Information

Telematics can calculate every minute detail of the client’s driving style, including every hard brake, rapid acceleration, parking style, etc. Analytics will amalgamate, analyze and interpret this data, simplifying it to understand the driving patterns of the client and the risk(s) involved. This driving information will be shared with the insurance provider who can use the same to allocate the insurance premium amount for the respective client.

Vehicular insurance companies have realized the difference that real-time information makes in processing claims. With the ability to capture real-time data in the form of images, videos, driving information, etc., there will be adequate information to process a claim or to decide the insurance amount for a client. It will eliminate the possibility of modified data and increases the accuracy of information analyzed.

Time and Efficiency

Time is everything. Waiting for weeks for insurance agencies to process a claim can be painstaking. Insurance companies will soon provide every client a more personalized and expedited service. Mobile devices will enable evaluation of claims or consultation with clients in their comfort zone. In the case of an accident, real-time data can be captured in the form of videos or images, eliminating the possibility of improper claims or incomplete information, which can prove to be a loss for both parties. Automation will reduce paperwork and redundancy. At the same time, it will increase efficiency and accelerate processing of claims.

Management of Data

With the reduction of paperwork and introduction of technologically advanced analytics frameworks, managing vast quantities of data has become a child’s play. Analytics use complex algorithms and mathematical equations to organize, analyze and interpret huge volumes of information. The ability to retrieve relevant information instantaneously and accurately will save a lot of man-hours.

Beyond Insurance

Mobility solutions for auto insurers come with additional services such as roadside assistance in case of an emergency, geo-fencing for parents to monitor their teenager’s driving, customer engagement to ensure the loyalty of the client, driving suggestions and other customizable options. Insurance companies will be able to go beyond their regular services for the client’s convenience.

Challenges of Telematics

However, there are a few concerns with telematics being used by insurers. Standardized regulations on data capturing and its process is yet to be determined. This raises concerns for loss of privacy or misuse of data. The other concern is when the client wants to switch to another insurance provider. The new insurer might not accept their driving data as the method of data collection is different. This could result in the client losing his benefits and has to start from scratch.

Nonetheless, telematics technology is relatively new and is yet to take over the market fully. Like any new technology, there will be glitches which will be fixed in due time. These challenges will not be an obstacle for auto mobility to be integrated with insurance, as the pros of auto mobility outweigh the cons. Gradually all insurance providers will largely depend on mobility solutions in order to develop their business and will become inevitable for auto insurance to use.