Games & Entertainment

Total Car

Total Immersion Racing (PlayStation PS2) Real-world race cars and tracks!! $10.08

As long as they’re at fault their insurance will cover the costs. But you may have to cover some depending on what insurance you had pertaining to the loan itself. When I bought my last vehicle I also got GAP insurance. It covers the difference between what you owe on the loan and what the vehicle is actually worth. Once you drove off the lot it decreased in value and isn’t worth what you paid for it anymore. And with interest your loan is alot more than what the vehicle was originally.priced at. I would make a few calls to the dealership, the bank , and my insurance company to find out for sure what happens to the loan agreement.

Buying a Car – Now is the Time!!

Buying a new car is likely to be one of the biggest purchases you make other than buying a house, therefore when buying a car it is important to take many issues into consideration.

The current economic climate has left consumers struggling with cash flow. Therefore it is important for consumers to make sure they consider their own situation in terms of being able to afford certain goods. Cars, being a large cost yet important in most people lives, are available to purchase either by a lump sum payment or available on finance.

“while registrations of new cars for fleet and small business users are both expected to decline, Mintel believes that the downturn will have most impact upon sales to private individuals, which are expected to drop below 1 millions units for 2008” (Mintel 2008).

This market downturn has possible implications of increasing prices from dealers who need to maximise on each sale. The future car market is not set to recover from this for a few years yet. With no growth, and inflation increasing each year, the car market could suffer.

“Mintel forecasts difficult times ahead for the value of the total car market, with growth remaining stagnant. From 2008-2013 we expect the market to grow and decline by one percent. Without the effects of inflation on motoring this equates to a drop of 10%” (Mintel 2008).

There are some who believe that buying a car is something that consumers should consider doing whilst the country is in this downturn as dealers will become more competitive to sustain sales figures. The marketplace could be seen as an attractive proposition to those who are not as affected by the credit crunch or economic downturn as some others.

“A potential slowdown in the economy, cost of fuel and road charging are some of the factors that will make it difficult for this market to sustain growth. Furthermore competition is likely to grow strong, as people become savvier and aware of prices through searching on the web” (Mintel 2008).

Buying a car on finance is therefore an attractive option for some consumers, who are able to see through the now acclaimed recession. If the payments for a car are split to small monthly manageable payments rather than one large lump sum then it is more feasible to sustain a good cash flow for most consumers through these harder times.

The economic downturn is has a large effect on the lending market. Due to current banking conditions, banks are less willing to lend finance to consumers. The implications of which for buying a car or sourcing a car on finance for consumers means it will be harder for them to obtain finance without applying for a secured loan and or those with solid credit history.

However, it is still possible to get the finance for buying a car for those with poor credit as there are some banks, more stable than others, that are able to capitalise on the poor market environment.

Consumers seem to be less interested in the notion to buy a new car. New car sales a set to decrease by 17% but buying used cars is set to rise to 14%.

Used cars that depreciate less have become a more attractive option when looking to buy a car than buying a new car. 

In the long term cars will remain essential for many, and as the economy regains strength there should be no reason why this market cannot return to strong positive growth, particular as the new concerns such as being greener impact on new car designs” (Mintel 2008)

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