Car Repossession Laws: An Overview #turners #car #auctions

#repo cars

Car Repossession Laws: An Overview

Learn about car repossessions: how they work, how to avoid them, and your options if it happens to your car.

If you fail to make your car payments or otherwise default on your loan, you risk having your car repossessed by your lender.  Read on to learn more about how car repossessions work, how to avoid them, and what your options are if your car gets repossessed.

Why Is the Lender Allowed to Repossess Your Car?

When you finance or lease a car you normally give the lender a security interest in the vehicle.  Every state has its own rules regarding repossession but having a security interest generally means your lender can repossess the car without notice if you default on the loan.  Many things can constitute a default but the most common reasons are not making timely loan payments or not having car insurance.

How Do Car Repossessions Work?

In most states, car lenders can seize your vehicle without prior notice if you are in default. However, they cannot breach the peace while they do it.  Breaching the peace usually means using or threatening to use physical force against you to take the car back. But it can also simply involve repossessing the car from your closed garage. If your lender commits a breach of the peace, you may be entitled to damages or use it to defend against a deficiency lawsuit (discussed in more detail below).

What Will the Lender Do After Repossessing Your Car?

The lender can keep the car or sell it to satisfy your loan obligation.  Each state has its own rules regarding sale procedures and notice requirements. However, you usually have a right to know when and where the sale will take place. Also, your lender must sell the car in a commercially reasonable manner.  This generally means the lender has to follow standard sales practices but it is not required to obtain the highest possible price. You may have a claim for damages or a defense against a deficiency if the sale was not commercially reasonable.

What Is a Deficiency Balance?

Repossession is only one of the remedies available to your lender if you default on your loan. Having your car repossessed doesn’t get you off the hook for your obligation to pay the entire balance of the loan.  If the proceeds from the sale of the vehicle are not enough to cover the balance of your loan, the remaining portion is called the deficiency balance.  In most states, your lender can sue you to collect this deficiency.

However, as discussed above, there are defenses to a deficiency action. The most common defenses are:

  • the lender breached the peace when repossessing the car
  • the lender did not sell the car in a commercially reasonable manner, or
  • the lender lost the right to sue by waiting too long and letting the “statute of limitations” run.

How Can You Get Your Car Back?

You may still be able to get your car back if the lender has not sold it yet. Below, we discuss some of the options available to you for getting your car back.

Redeem the Car

Redeeming essentially means buying back the vehicle.  You can generally redeem your car if you pay the lender your entire loan balance including all arrears and repossession costs. However, most people usually don’t have the money required to redeem a car.

Buy It Back at the Auction

If your lender sells the car at an auction, you can bid on the vehicle to try to buy it back. However, even if you buy back the car, you will still remain liable for any resulting deficiency balance.

Reinstate the Loan

Some states allow you to reinstate your loan and get the car back if you can cure all of your arrears and pay for the repossession costs.  After you reinstate, you must continue to make regular payments on the loan.

File for Bankruptcy

If you file for bankruptcy prior to the sale, the automatic stay will prohibit the lender from selling the car without obtaining court permission.  Depending on the type of bankruptcy you file, this can buy you more time to gather the necessary money to get your car back or allow you to cure your arrears through the bankruptcy. (To learn more, see Your Car in Chapter 7 Bankruptcy and Your Car in Chapter 13 Bankruptcy .)

How Can You Avoid Getting Your Car Repossessed?

If you are behind on your loan payments, the best thing to do is to communicate with your lender.  Your lender may be able to offer you a solution such as a reduction in payment amount or interest rate that can help you catch up on your payments and avoid repossession.

Buying or Selling an Automobile in Massachusetts #car #transportation

#sell a car

Buying or Selling an Automobile in Massachusetts

Massachusetts Lemon Laws

Massachusetts has laws that protect consumers when buying or leasing a new car. and buying a used car that does not meet expectations. These Lemon Laws require dealers to provide consumers with a written warranty against defects that impair a used vehicle’s use or safety, and require private parties to disclose any known use or safety defects.

Registration and Insurance

Separately, residents can apply for new plates or transfer an existing registration to a vehicle gifted by or purchased from a friend or family member. To do so, they will need:

Once collected, these materials should be taken to the nearest full-service RMV branch office .

For information on registering recreational vehicles, use resources from the Massachusetts Environmental Police .

Sales Tax

Sales tax equal to 6.25 percent of the vehicle’s purchase price is collected when a vehicle is bought from a dealer. In private sales, 6.25 percent of the purchase price or 6.25 percent of the National Automobile Dealers Association (NADA) trade-in value — whichever is higher — is collected on the purchase of any new or used vehicle in Massachusetts. If no clean trade-in value is available, a default value agreed upon by both the RMV and Massachusetts Department of Revenue (DOR) will be used.

If a vehicle is purchased outside of Massachusetts and sales tax is not paid in another state, sales tax must be submitted to Massachusetts by the purchaser. However, if sales tax was paid to the state of purchase, taxes may still be due to Massachusetts depending on the reciprocity relationship between states. A car purchased from a family member — or received as a gift — may be exempt from sales tax.

Vehicle Titles

A title is a document that indicates who has legal ownership of a vehicle. Anyone planning to buy or sell a used car (model year 1981 or newer) must have a title to transfer ownership so the buyer can register the vehicle. Without this, it cannot be registered.

Vehicles older than model year 1980 purchased by the current owner before November 26, 1990 can be registered without a title, as long as the bill of sale and a copy of the last registration for the vehicle are available.

Seven-Day Grace Period

In accordance with Massachusetts General Laws Chapter 90 Section 2 — also known as the Massachusetts Seven-Day Registration Transfer Law — if you transfer ownership or lose possession of a motor vehicle, you have a seven-day grace period to transfer registration to a new vehicle.

This period begins on the date you transfer ownership or lose possession of the first vehicle and ends at 5 p.m. seven calendar days afterward. For example, if you transfer ownership of your car at noon on July 1, the grace period would end at 5 p.m. July 8.

To qualify for this grace period the following conditions must be met:

  • You have an active registration and are at least 18 years of age
  • The newly acquired vehicle or trailer must be of the same type and have the same number of wheels as the previous vehicle or trailer
  • You must carry the transfer documents, which show the registration number to be transferred, in your vehicle
  • You have lost possession of or disposed of your previous vehicle
  • The registration plates must be attached to the newly acquired vehicle

How to Calculate the Salvage Value of an Automobile #buy #my #car

#vehicle value

How to Calculate the Salvage Value of an Automobile


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When your car gets into an accident and sustains damage, the car’s salvage value is of interest to both you and your insurance company. Ultimately, the salvage value of your car is the amount of money your insurer would get for selling your damaged vehicle to a salvage yard .

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Salvage Value: Questions to Ask

An asset’s salvage value is not some magical figure or a forecast that can be derived from a formula, notes corporate software company MoneySoft. It is ultimately an estimate, and more than that, an estimate based on reasonable and rational procedure. To reach this estimate, an assessor needs to ask some basic questions, such as:

  1. What will happen to this vehicle at the end of its useful life? Will it be stored, repurposed, sold?
  2. What will be the anticipated condition of the vehicle at that point?
  3. In the event of its final disposition, what will be the costs associated with the vehicle’s disposition?

Arriving at a Figure

To arrive at hard numbers, different assessors determine salvage value according to their own methodology. Cars Direct suggests one approach:

  • Obtain the retail value of your car.
  • Reduce the above value by half — but this depends on the extent of the damage.
  • Get your insurance company’s appraised value of your car.
  • Take the average of the retail value and the insurance company’s appraised value to reach the current market value.
  • Multiply by the percentage quoted by your insurance company.

Getting Different Opinions

As auto insurance comparison website Auto Insurance Now notes, you can negotiate the salvage price of your vehicle. Check the figures your insurance company quotes with those of local salvage yards to see if they are in line with your and your insurer’s estimates. Websites such as iJunkYards help you locate salvage yards near you.

Salvaging or Buying Back

The salvage price is just one factor to weigh among several when deciding to take the settlement, salvage the car or keep the car.

In the event you want to keep your car, the settlement check you receive from your insurance agency is the value of your car minus its salvage value, less any deductibles.


If you retain a salvage car with a view to driving it, you have to obtain car liability insurance. However, insurance companies often do not provide full coverage for salvaged vehicles. Ask your insurance company whether obtaining insurance is feasible with your particular vehicle. If not, Auto Insurance Now suggests using your car for parts or accepting the settlement and getting a new car.

How to Refinance an Auto Loan #vans #for #sale

#refinance car loan

How to Refinance an Auto Loan

By Erin Huffstetler. Frugal Living Expert

Erin Huffstetler is a freelance writer specializing in frugal living. She enjoys living the frugal life in Tennessee, where the garage sales and thrift stores are plentiful. Her favorite day of the week? Saturday, of course! It s the ultimate bargain-hunting day. Read more

Refinancing an auto loan is far easier than refinancing a mortgage, and it can save you thousands of dollars in interest. Consider refinancing your auto loan if:

  • interest rates have dropped since you bought your car
  • your credit score has improved (meaning you may qualify for a better rate)
  • you financed your car through a dealership (which usually means higher rates)
  • Information about your vehicle – VIN and mileage

Review the terms of your existing auto loan. Before you start shopping for a new loan, you need to know where you stand with your current loan. Find out what you re paying in interest, how many months you have left on the loan, your current pay off amount and whether there s a pre-payment penalty in place.

Determine if your car qualifies. While each bank has it s own qualification requirements, most banks will not refinance a vehicle that:

  • has less than $7,500 left on the loan
  • is more than seven years old
  • has 100,000 miles or more (some banks set the cap at 70,000)
  • is used commercially
  • has a salvage title

You also won t have much luck refinancing a motorcycle or RV. Some banks even rule out certain vehicle makes.

Compare rates. Call a few banks in your area to get a feel for where the interest rates are at. You can also use a site like to look up the national averages.

Tip. Be sure to go by used car interest rates. When you refinance, that s the rate you re likely to pay, even if you have a new car loan now.

Estimate how much a refinance will save you. You can use an online auto loan calculator to get the job done.

Apply for an auto refinance loan. If refinancing still seems to make sense after running your calculations, it s time to dig into all of the details. Question the banks that you re considering about any fees that you ll be expected to pay. A small fee to transfer the title and re-register the vehicle is to be expected, but some banks may also tack on a processing fee. Also, ask if there is a pre-payment penalty built into the loan. You want to avoid this because it will penalize you for paying off your loan early.

Once you ve compared all of your options, submit your loan application to the bank with the best deal.

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Review your paperwork and finalize your loan. Then, walk around feeling smart because you saved a bunch of money.

Want to save more money? Sign up for the Frugal Living newsletter . and get a fresh batch of tips delivered to your inbox each week.

How to Price an Antique, Vintage or Classic Car or Truck #dollar #rent #a #car

#used car pricing guide

How to Price a Used Vehicle

Last Reviewed: December 01, 2015

If you are selling an antique, vintage or classic vehicle you will need to know how to calculate an “asking” price. Most vehicle buyers will expect you to be willing to negotiate the price which means you will start by asking for an amount above what you are willing to accept. If you are one of the many people who dislike bartering like a used car salesman this may prove difficult, but it is necessary. If you advertise that price if “firm” you are likely to lose potential buyers and of those who do respond, many will try to negotiate anyway. Everyone wants to feel like they made a good deal and to some negotiating is how they meet the need. And some see it as a sign of respect; a give-and-take that demonstrates an appreciation for the other person s situation. The asking price is typically about 10 percent above the actual value of the vehicle.

1932 Lincoln Victoria *

The actual value of a vehicle can be easy or difficult to determine, based on the age, make and model of the vehicle. The older and rarer the vehicle is the harder it will be to determine the actual value because it is based on the current market value, its condition, how unique it is and the seller s emotional attachment. Newer vehicles are therefore relatively easy to evaluate because they are not rare, the condition is usually a simple factor of appearance and mileage and the seller is not likely to be emotionally attached. However older cars are a different story. Value guides such as NADA or Kelly Blue Book are good places to start – but do not stop there.

The next step is to look at the current market value. Search the Internet for the specific year, make and model of your vehicle and see what others are asking. Call other sellers to compare the condition of their vehicles to yours and determine how long their vehicles have been on the market at their asking prices. Look for used car dealers who are selling similar vehicles because they will have already researched the best asking price, watch the automobile auction shows on television, and study the classified ads in your local newspaper.

The next consideration is the uniqueness which is more subjective and while we have an How To Appraise a Vehicle reference guide you may require the help of a professional appraiser. Just like fine wines, there are specific years, makes and models of vehicles that have a unique appeal and/or are particularly rare. Limited edition vehicles such as the Shelby Cobra and one-of-a-kind vehicles such as the Tucker or a past president s limousine will require a knowledge of their sales history and current public interest.

And finally there is the emotional value. If you really do not want to sell the vehicle but must, or just finished an expensive restoration, you are likely to want more that it is worth. However if you are selling one of Elvis Presley s Cadillacs prior to a significant anniversary when there is a lot of publicity you may be able to ask more than it is worth. Here again a professional appraiser may be of some help.

Calculate the diminished value of my car after an accident? #import #cars

#find value of car

How do I calculate the diminished value of my car after an accident?

You might be entitled to recover “diminished value” from the at-fault driver (or from his or her car insurance company) as part of your compensable damages after a car accident, as long as your car has been significantly damaged and is a newer model.


How do I calculate the diminished value of my car after an accident?


In the context of a car accident case, “diminished value ” refers to the difference between what your car was worth before the crash occurred, and what it is worth after it has been repaired.

The rationale behind a diminished value claim is that on the free market, someone who wanted to buy your car would probably be willing to pay less after the vehicle has been in an accident than they would have paid had the accident not occurred, even though the car has been repaired.

You might be entitled to recover “diminished value” from the at-fault driver  (or from his or her car insurance company) as part of your compensable damages after a car accident, as long as your car has been significantly damaged and is a newer model. For a minor accident, or any crash involving an older car, you’re probably not going to be successful in making a diminished value claim.

To calculate the diminished value of your car, you may need to retain an expert witness, or at least obtain reliable inspection and repair reports from professionals — people who can examine your car and offer an opinion on the impact that the vehicle damage  and subsequent repairs have had on its value.

In some diminished value claims, part of your argument may be that inferior parts were used to repair your vehicle, and if your car had not been in the accident in the first place, it would still have all factory parts installed, and it would not have lost value.

Elon Musk Is Right: Hydrogen Is – An Incredibly Dumb – Car Fuel #toronto #car #rental

#hydrogen cars

Elon Musk Is Right: Hydrogen Is An Incredibly Dumb Car Fuel

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Last month, Tesla CEO Elon Musk explained at length why hydrogen fuel cell cars are extremely silly and why hydrogen is an incredibly dumb alternative fuel.

Musk also said, there s no need for us to have this debate. I ve said my peace on this, it will be super obvious as time goes by. Indeed, it is super obvious already, as I ve written many times see my 2014 series. Tesla Trumps Toyota, which explains why hydrogen cars can’t compete with pure electric cars. A key reason Musk calls hydrogen incredibly dumb its untenably inefficient use of carbon-free power compared to electric vehicles (EVs) is detailed below.

In the meantime, Musk whose Tesla bio lists him as Co-Founder, CEO, and Product Architect has been amping up his efforts to be the next Steve Jobs and to make his electric car company, Tesla, the next Apple. Bloomberg reported last week that the 6000-worker company has hired at least 150 former Apple employees, more than from any other company, even carmakers.

“It’s almost an unfair advantage, according to Morgan Stanley auto industry analyst Adam Jonas. He told Bloomberg, “As software goes from 10 percent of the value of the car to 60 over 10 years, that disadvantage [for traditional carmakers] will intensify.”

But will Tesla be the next Apple or will Apple be the next Tesla? Apple has itself poached 50 Tesla employees, supposedly offering $250,000 signing bonuses and 60 percent salary increases a heck of an incentive to work at a company so successful, its market capitalization just hit the all-time record of $700 billion. Business Insider reports that an email from an Apple employee says its still-secret effort, will change the landscape and give Tesla a run for its money.

We are strictly in rumor-mill territory here. But there is a camera-equipped van registered to Apple that is rumored to be a self-driving car, but is more likely a mapping vehicle, according to CNBC and Wired. I digress.

Returning to hydrogen fuel cell vehicles, EV-maker Musk has, unsurprisingly, long been critical of the only other plausible zero emission vehicle. He called them bullshit in 2013, briefly noting their relative high cost and infrastructure issues. In 2014 Musk said. “They’re mind-bogglingly stupid and “Success is simply not possible.” Why?

“Consider the whole fuel cell system against a Model S. It’s far worse in volume and mass terms, and far, far, worse in cost. And I haven’t even talked about hydrogen being so hard to handle.”

Then, last month, at a press conference in Detroit, Musk offered his most detailed explanation for why hydrogen fuel cell vehicles make no sense. He was asked You ve been very vocal about the need for companies to reduce their emissions. Why are you so critical of hydrogen fuel cells, which are another pathway to zero emission vehicles. Do you stand by those comments?

Here s Musk s full answer:

His key argument is one I have been making for more than a decade, since my 2004 book, The Hype About Hydrogen. Fact and Fiction in the Race to Save the Climate

As Musk explains:

Hydrogen is an energy storage mechanism. It is not a source of energy. So you have to get that hydrogen from somewhere. if you get that hydrogen from water, so you re splitting H20, electrolysis is extremely inefficient as an energy process . if you say took a solar panel and use the energy from that to just charge a battery pack directly, compared to try to split water, take the hydrogen, dump the oxygen, compress the hydrogen to an extremely high pressure (or liquefy it) and then put it in a car and run a fuel-cell, it is about half the efficiency, it s terrible. Why would you do that? It makes no sense.

In fact, Musk was being generous. In a 2006 Scientific American article I wrote with advanced-hybrid guru Andy Frank, we explain that The entire process of electrolysis, transportation, pumping and fuel-cell conversion would leave only about 20 to 25 percent of the original zero-carbon electricity to drive the motor. But in an EV or plug-in hybrid, the process of electricity transmission, charging an onboard battery and discharging the battery would leave 75 to 80 percent of the original electricity to drive the motor. So the hydrogen car is more like one third as efficient as the EV.

Put in more basic terms, the plug-in or EV should be able to travel three to four times farther on a kilowatt-hour of renewable electricity than a hydrogen fuel-cell vehicle could ! Here are some numbers from the Advanced Power and Energy Program at UC Irvine:

The situation is actually worse for FCVs, or what the figure calls Fuel Cell Electric Vehicles (FCEVs). The two best cases for FCEVs in the chart a hydrogen pipeline system from central station renewable generation and onsite renewable generation and electrolysis are wildly implausible for many decades to come, if ever.

In any case, we have this huge global warming problem going on right now. We aren t going to go to all the trouble of creating a premium solution zero-carbon electricity only to throw away most of it as part of some elaborate hydrogen FCV scheme, a scheme that also requires the creation of an elaborate and expensive new system of green hydrogen production and/or delivery infrastructure. That s particularly true when we can just run EVs on the premium carbon-free power directly (or, for that matter, simply continue to slash vehicle CO2 emissions through the straightforward continuation of fuel economy improvements).

So yes, hydrogen Is an incredibly dumb car fuel, especially if you are concerned about global warming.

Is it worth buying an extended car warranty? Consumer Reports #car #repair

#used car worth

Peace of mind comes at a cost

After dedicating an afternoon (or more) to test driving, negotiating, and completing a pile of paperwork for your shiny new car, don’t be surprised if a bubble-bursting finance manager at the dealer gives a compelling pitch for an extended warranty. It is for your peace of mind, right? Well, not really.

The last-ditch effort to sell you a warranty, or various other unnecessary services, is the dealership’s final assault on your checkbook before you tuck it securely away and drive off. Sure, the pitch is convincing: Should an expensive repair be necessary after the factory warranty ends, you’d be protected. No one wants a big, financial surprise, nor wishes to be stranded roadside. (Read Watch for These Dealer Sales Pitches . )

But breathe deep and think this through. A survey conducted by the Consumer Reports National Research Center in late 2013 found that 55 percent of owners who purchased an extended warranty hadn’t used it for repairs during the lifetime of the policy. And, on average, those who did use it spent hundreds more for the coverage than they saved in repair costs.

Among survey participants who used their policy, the median out-of-pocket savings on repairs covered by extended warranties for all brands was $837. Based on a $1,214 average initial cost, that works out to a net loss of more than $375. Factoring those who didn’t use their policy, the median savings was zero. And that may have something to do with why satisfaction with auto­mobile extended warranties is among the lower rated of all products and services surveyed by Consumer Reports, and why only about a quarter of respondents said they would definitely get it again.

Kissimmee Police Sgt. Bruce Connors is charged with a hit-and-run accident outside a Brevard County topless bar where video of the accident shows an angry bartender chasing him from the parking lot as he sped away in his pickup. Orlando Sentinel #scion #cars

#club car

Kissimmee cop charged after hitting strip club employee’s car in parking lot

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A Kissimmee police officer was charged after he slammed into an employee’s car in the parking lot of a Brevard County strip club and left the scene, records show.

Sgt. Bruce Connors, 36, was charged in early October with leaving the scene of a crash after ramming the car parked outside the Lido Cabaret in Cocoa Beach, records show.

He was relieved of duty 21 days later on Oct. 30 and placed on paid administrative leave. Connors, who joined the department in 2004, earns $66,000 a year.

The department has launched an internal affairs investigation of the incident. Police Chief Lee Massie declined comment.

Surveillance video of the crash shows an employee of the strip club dressed in a thong and corset running after Connors’ pickup moments after he hit rammed her 1965 Oldsmobile Cutlass sedan on Oct. 9 and sped away, records show.

Kissimmee Commissioner Art Otero involved in domestic disturbance

Henry Pierson Curtis

City Commissioner Arturo “Art” Otero was involved in a domestic disturbance a week ago after arguing with his wife outside a Kissimmee bar, police reports show.

A police report described Otero, who has announced he’s running for mayor next year, as intoxicated when he showed up at Kissimmee police.

City Commissioner Arturo “Art” Otero was involved in a domestic disturbance a week ago after arguing with his wife outside a Kissimmee bar, police reports show.

A police report described Otero, who has announced he’s running for mayor next year, as intoxicated when he showed up at Kissimmee police.

(Henry Pierson Curtis)

The club already knew who he was and where he lived. A week earlier, Connors had been drinking there and left without paying his tab. The club has a policy that anyone running a tab must hand over a credit card and driver’s license until the bill is paid, according to officer manager Vanessa Castillo.

Castillo gave investigators a photo copy of Connors’ driver’s license that identified his home address as the Kissimmee Police Department.

Videos from the club’s surveillance cameras released by the Brevard-Seminole State Attorney’s Office show Connors and two friends walk out of the club shortly before the crash. Connors kicked off his sandals and began shadow boxing barefoot on the pavement.

After slipping his sandals back on, Connors dropped his keys and took a moment to retrieve them before opening the driver’s door of his truck. After sitting for about a minute, he put the pickup in gear and immediately struck the classic car parked next to him, the video shows.

The defendant struck the Oldsmobile, stopped, changed the direction of his front wheels, drove further continuing to strike, a Brevard County Sheriff’s investigator wrote after watching the video. The defendant stopped for a moment, then fled the scene.

That’s when Jessica Bruce, 27, the car’s owner and a bartender at the strip club, came out of the club and began running after Connors’ pickup which briefly stopped at an intersection before speeding away. The sheriff’s office described noticeable damage to the Cutlass’ front bumper, hood, driver’s side fender and wheel well.

Bruce could not be reached for comment.

Records state Connors was advised of his Miranda rights to remain silent and told the crash investigator he was driving. struck the vehicle that was next to him and he fled the scene.

In January, he received his agency’s employee-of-the-month award.

Connors has distinguished himself within the department by proving that he is a hardworking, strong leader and team player. His can-do attitude and willingness to help is second to none, records state. He is a true team player and great leader, who displays a high degree of dedication to his position and his department.

CORRECTION: A previous version of the story incorrectly identified Jessica Bruce’s job at the strip club. She is a bartender.

What is an Auto Insurance Broker? #car #history #check

#car brokers

What is an Auto Insurance Broker?

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It is very easy to get confused as to the difference between what an auto insurance broker and an auto insurance agent does as part of their job. Ever wondered what is an insurance broker and when you might need one? Well, first off, an auto insurance broker differs from an agent in that he or she is an independent contractor and does not just write policies with one company. An auto insurance agent generally works for one company and writes policies just for customers of that firm he or she represents.

Are Auto Insurance Brokers a Good Idea?

While auto insurance brokers are pretty much required to be up to date on all of the latest regulations and training from all of the companies they represent, they generally are only allowed to sell auto insurance in one particular state. If you move around a lot, that may dictate whether or not you choose to buy insurance through a acr insurance broker or an agent affiliated with one particular company.

Many people like to use auto insurance brokers because they can shop around with all of the companies that they work with to get you the lowest rates on auto insurance. If you shop with an auto insurance agent from one company, they can still help you with getting as many qualifying discounts as possible but won t usually cross shop other brands for you.

Auto insurance brokers services don t come for free however as most auto insurance brokers do charge a fee for all of their work on your behalf. But as car insurance brokers are paid on a commission for each policy that they sell, they do often times go the extra mile to please their customers. As with any service, do some research on the auto insurance broker you are going to be working with to make sure no complaints have been filed with any state agencies or the Better Business Bureau (BBB).

Get to Know Your Car Insurance Broker

Make sure that you also spend the time to sit and talk with your auto insurance broker so he or she will best understand how to balance your financial budget with your different coverage needs. An understanding auto insurance broker should know what sort of deductible you will want for your different forms of insurance coverage and whether or not you should choose some type of collision and comprehensive auto insurance coverage.

A good auto insurance broker should be just as well trained, if not better trained, than your average auto insurance agent that just works for one specific company. Since auto insurance brokers usually work with a number of agencies, they should also know a lot about the various discounts that are available from different companies, for example, those for good drivers, good students and even for those who have served in the military or graduated from college.

If you feel like you need a little bit more of a personal touch when buying your own auto insurance, look into working with an auto insurance broker. The whole point of being a car insurance broker is to offer a level and variety of service above and beyond what your average insurance agent can provide. Since they are independent however, you will have to make sure the person you are working with has your best interests at heart. Most importantly, never be afraid to ask lots of questions when you first meet with your auto insurance broker.

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