Motorists in the UK are still throwing £652.5 million a year away by auto-renewing their car insurance – despite an FCA rule change last year designed to protect motorists from the so-called ‘loyalty tax’. But there’s a simple step that could save motorists an average of £278.49 per year. With a third of Brits still automatically renewing their car insurance policy with their existing insurer, instead of shopping around and potentially saving money, millions are being hit by avoidable increases in their annual premiums. A typical annual increase of £50 per policy means £652.5 million going down the auto-renewal drain every year, where as motorists who avoid the ‘loyalty tax’ and shop around could see average savings of up to £278.49 each – or £3.6 billion collectively. Increased transparency This month marks a year since the Financial Conduct Authority (FCA) auto-renewal bill changes came into force, but research … [Read more...] about The simple car insurance trick that could save you £278.49 a year
The best auto insurance
Everyone who drives needs car insurance, and everybody knows premiums can vary by hundreds, or even thousands of dollars per year. Knowing a few insurance secrets will help you to save big money. The CEO of www.HablamosSeguros.com, Dave Stafford, has tips that are sure to save money for almost everyone searching for insurance. If They Don’t Ask, Tell! – An insurance agent will typically ask if you have a current auto insurance policy, but won’t inform you that you may also be entitled to a discount if you have been insured under someone else’s policy, such as your parents. Tell the agent, because the discount for having prior insurance can be as much as 40%! Compare and Compete – Consumers who call specific insurance companies will get quotes from only that company. End of story. Even brokers that handle more than one company may not quote the lowest possible price. Their commissions are often based … [Read more...] about Five Ways for Latinos to Save on Auto Insurance
It was the Clio RS that stopped people in their tracks. Which was a surprise. In the cold light of day, the five-door, pencil-sharpened hatch looks a bit strange, oddly unadorned; but at night, city-lit from above in a pool of orange sodium, the Renault looks steely, chiselled, clean and crisp, wide and low, its headlights glinting. Ipoh’s nightlife stopped with unexpected regularity, and looked, pointed, and said ooh and ah, look-at-that-what-is-it? Meanwhile, the Ford Fiesta ST, in a lighter shade of red – probably one of the greatest, most satisfying, most perfectly balanced and tuned driver’s cars to be built this decade, if not this century – was ignored. Maybe they couldn’t see that it was an ST. Maybe they didn’t care. Maybe it doesn’t matter. No, sorry, I’m going to have to stop you there. It matters.The same goes for the Peugeot 208 GTi. This 200 hp pocket-rocket could roll along through a crowded street without anyone batting an … [Read more...] about Ford Fiesta ST vs Peugeot 208 GTi vs Renault Clio RS – which one is the best hot hatch on sale in Malaysia?
Usually my editorials are written at the very moment they pop in my head—that could be at the airport or on a plane, while lumped on the couch watching TV, or even lying in bed at any hour during the night/morning. Rarely does it happen while I’m perched in front of my computer at work. No matter how, the when is typically the same—the very last second…or later. This time around, my normally empty head was just that…empty. So for once, I reached out for a little second-party advice by asking a close friend what she thought. Within a matter of seconds, the fog was lifted and my head pumped with a couple great topics. Having been well aware of a recent hot rod–related fatality involving another close friend, she’d suggested the idea of discussing the appropriateness of driving older cars under various situations. The more I let that absorb, the more I realized how, in this day and age, that’s such an important topic, especially for younger … [Read more...] about Behind the Wheel – Auto Appropriateness
Rosso Corsa-bodied F430 spun sideways through the curve, locking up the brakes, and sending the $240,000 Italian masterpiece sliding into the forest, coming to an abrupt and grinding halt, narrowly missing the tree line and avoiding my untimely death.As the proverbial dust had settled, I knew that I had been through one of the most harrowing experiences of my life and I was alive to tell the story. I knew for sure I would never live this down, not financially and definitely not socially ... or so I thought. Big mistakes often have a polarizing effect where on-one-hand we don't have a real way to know the scope of the damage and this results in fear of the unknown, but on the other hand we usually know we're okay and this results in strange internal calmness. For me this experience led to a major life lesson, an amazing story to tell, and a level of humility that served to be instrumental in all of my future endeavors.Throughout my entire childhood I had built up an obsession with … [Read more...] about Crashing a Ferrari was the best life lesson I’ve ever had
A good commercial is one that breaks through the clutter, registers a convincing sales message and sears itself into your memory. I call it the Rule of IMP, for Intrusive, Memorable, and Persuasive. But for Super Bowl commercials there’s an additional rule: They’ve got to be entertaining as well. So which ones have us buzzing around the virtual water cooler today? Here’s our take, with each slotted alphabetically into three categories—Best, Worst, and Meh. Award-winning ad man-cum-auto journalist Don Klein knows a good (or bad) car commercial when he sees one; the Ad Section is his space to tell you what he thinks of the latest spots. But everyone has an opinion when it comes to advertising—especially during the Super Bowl—so hit Backfires below and tell us what you think, too. Audi “Prom”This year’s Super Bowl commercial is another big win for Audi’s brilliant marketing team, not only because of the spot itself—which … [Read more...] about Super Bowl XLVII Car Commercials: The Best, the Worst, and the “Meh” [The Ad Section]
Top-three U.S. automotive lender Wells Fargo has been discovered to have charged hundreds of thousands of customers for duplicate car insurance they neither needed nor wanted, and in some cases people lost their vehicles because of the excess cost. The financial-services company has responded by saying it will refund about $80 million to those affected. It nevertheless faces legal fallout. And this week, the New York Times reported the bank is separately under investigation by the Federal Reserve Bank of San Francisco over borrowers not being refunded for “gap insurance.” Wells Fargo’s improper insurance billing comes to light as the lending giant continues to dig itself out from a scandal in which it created as much as 2.1 million unauthorized customer accounts to hit sales targets. That resulted in $185 million in fines.Gap—”guaranteed asset protection”—insurance is meant to cover the depreciation of a vehicle. It is not … [Read more...] about Car-Insurance Customers to Be Refunded Millions as Wells Fargo Wades through Scandals
Miata. E30. Panther. Is it time to add another nameplate to the Used Car Hall of Fame? Because the 2012+ Chevrolet Impala looks like a sure-fire winner to me.TTAC reader (and sometime contributor) Andrew Bell has been a tireless advocate of the W-Body Impala, to the point where even our own Zackman looks like a halfway-committed dilettante. While discussing the latest Kelly Blue Book Total Cost of Ownership study, Andrew laid out the case for a one-year old Impala as the used car buy. Not much to break on it really. The design is ancient. The new one with the 3.6 is one of the greatest deals on the market. 300+hp, Bluetooth, decent stereo, 4 wheel discs, <3700lbs, 6spd auto, power everything (windows, locks, auto-start, remote trunk, seats), <$15000 (2012 LT with about 30000km). <9L/100km with 87 octane, unstoppable in the winter, and cheap to insure. Pricing for one of these cars runs from $13,445 for a base model LS ex-rental with about 34,000 miles, to $24,995 … [Read more...] about QOTD: Is This The Best Used Car Deal Today?
You may have finally found the perfect automobile. It is the make and model you want, with the right options, and even the right color. Now comes closing the deal on it. If you’re not flush with cash—in other words, you seek a loan—it’s important to know what you’re up against. Here are seven things to do if you want to get the best rate on an auto loan: 1. Take a Step BackYou can’t just go into the dealership and agree to buy the vehicle, at least not if you want a decent price and a fair loan rate. You need to take a step back and see what kind of financing is out there.2. Know the TerminologyBefore you call or visit lenders, brush up on the difference between interest rate and APR. The interest rate refers to the added percentage that it will cost to borrow the money. The APR, however, is the actual annual interest rate factoring in fees and other costs related to the loan. 3. Shop Around You may think that, because dealers tout … [Read more...] about How to Get the Best Rate on an Auto Loan
Wells Fargo says it will reimburse roughly $80 million to customers erroneously charged for auto collateral protection insurance policies. Customers will be remediated after roughly 800,000 customers were essentially forced to purchase unnecessary auto insurance, despite many of them already having active policies.The banking and financial services firm reviewed policies started between 2012 and 2017 and identified approximately 570,000 customers who could have been negatively impacted. It plans to issue refunds and other payments as compensation, especially to those who defaulted on their auto loans as a result of being overcharged. “In the fall of last year, our CEO and our entire leadership team committed to build a better bank and be transparent about those efforts,” said Franklin Codel, head of Wells Fargo’s consumer lending program, in a statement. “Our actions over the past year show we are acting on this … [Read more...] about Wells Fargo to Refund $80 Million of Unnecessary Car Insurance It Forced Onto Customers