subject: PPI Claims Strategies If Buying A Car [print this page] For anyone who is thinking of buying a new vehicle anytime soon, there are a number of things you should do just before heading to the vehicle dealership. One of the most vital would be to assess what is affordable to you by making a budget; next is going to be type of car; type of loan product; length of loan in addition to price of the vehicle as well as any rebates can be obtained. It is best to develop a plan prior to entering a car dealership, as we know salesmen can certainly talk and try to get you confused.
You need to be completely ready once you enter the dealership to be welcomed by a salesperson. Let them know you would like to look around first and that you will find them when and if you see a vehicle you want. It's always best to have already carried out your research and you know what the lowest price of the vehicle is, in addition to rebates.
When you finally take a seat to discuss the vehicle acquisition the sales rep will try to ask you what your monthly budget is - do not provide them with one, let them know you would like to see the most competitive price they will sell you the vehicle for and that you will probably then discuss financing after you agree on a price. This is essential as most dealerships will work out funding for you, and they're going to add things in such as payment protection insurance, dealer fees, larger finance rates in addition to their commission. If you fall for this you might find yourself paying 1000's more for the vehicle, and what is even worse, you might not actually qualify for the PPI if you ever needed to file a claim.
Once you are happy with the cost inform them you will then explore financing. They are going to ask you questions such as period of financial loan, down payment and then attempt to sell you things such as payment protection insurance, automobile extended warranty's and so on. Both these items are available from outside companies for much less, especially PPI. Be sure to look at what interest rates are, in addition to ask them to show you a break down of monthly premiums.
The last statement above was mentioned due to the fact many companies will tack on ppi without you agreeing to it, this is especially valid in the United Kingdom where a large number of people are reclaiming ppi due to being mis-sold the cover when buying a vehicle (as well as other types of loans and credit cards). Be sure to fully read everything before you sign.
PPI Claims Strategies If Buying A Car
By: Sharon Dawkins
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