Just as it is worth shopping around for great value car insurance for women, it is also in your best interests to shop around for a great deal when purchasing a new car.
Although the face value of your car may seem a steal, you can often get stung when it comes to loans and insurance repayments, as Joanne Linden from Aberdeen discovered.
Mrs Linden travelled to a showroom in Edinburgh and found a Vauxhall Zafira at a bargain price of £7,000, or so she thought. However, when finalising the deal she was informed by the sales staff that it was compulsory for her to take out Payment Protection Insurance (PPI) or else she couldn’t have the car.
This meant that she would end up paying an extra 29.4% of the value of her car in PPI in addition to a four year loan for the car charged at a lofty 29%.
After realising that these extra expenses would increase the balance for her new car by an incredible £10,000 she decided she wanted to terminate the contract. But, despite the fact she had already paid over £2,500 in insurance premiums over the last 20 months, the showroom demanded she pay the full four year PPI cover, which would cost her another £2,044.
As it happens, PPI is voluntary in most instances. But there are many people, like Joanne Linden, who have fallen into the paths of rogue salesmen and tricksters.
A spokesperson for CoverGirl, specialists in car insurance for women, has stated: ‘Unfortunately, Mrs Linden’s story is quite familiar. When it comes to buying a car on finance it is worth shopping around for the best deal as you don’t want to be stuck making repayments beyond your means.
‘Also, make sure that you get plenty of motor insurance quotes so that you can gain the cheapest car insurance premium possible. If you are a woman, car insurance with CoverGirl, the car insurance for women experts, may be the best option.’