New car insurance is really no different from used car insurance. As long as the vehicle is driven upon any public road in the United States, there will always be a minimum amount of liability insurance that is required. This standard liability minimum varies from state to state. Auto insurance carriers can only sell insurance in the states that they are licensed to do so in, so they should be knowledgeable and familiar with the latest state insurance regulations. A good resource to check is the local DMV website. For example, here is the California DMV’s posted minimum liability insurance for vehicles.

GAP insurance is a program is offered by some insurance companies. This optional insurance coverage is limited to new cars. Essentially it protects the vehicle owner from losing money in the event of a total loss or vehicle theft. This GAP insurance will cover the difference between what is owed on the car and what the car is worth in the event of a total or theft. This insurance can be a good option for those with bad luck!

Shopping around for auto insurance is always a smart move. Car insurances discounts abound, and insurance companies are free to determine what discounts they would like to offer at any given time. This gives them the ability to balance out their customer base with the proper mix of customers. These customers can rage from those that may need DUI insurance and may have received a suspended license to “perfect drivers” that have never had a car accident or auto insurance claim. Comparing car insurance rates can also be addictive. Once one knows that they can save HUNDREDS of dollars per year then they are sometimes more inclined to gather some free quotes online when it comes time for the next renewal.

6 Month Policy or 12 Month Insurance Policy?
Some insurance companies offer 6 month policies while others may only offer 1 year policies.
Advantages of 6 month insurance policy:

• Since the policy is technically half the life of a one year policy, the cost should be much less than a 12 month policy. This can enable the purchaser to pay off the entire amount up front, thus eliminating any potential monthly installment fees.
• Additional opportunities to shop around again. Since the policy only lasts 6 months, the insured will have the opportunity to shop for lower car insurance rate more frequently.

Advantages of a 1 year auto insurance policy:

• Car insurance premium is locked in for an entire year. If the policy holder or any other drivers on the policy receives a traffic ticket or traffic violation of any sort then the insurance rates should not go up mid term. Drivers that receive tickets often can benefit from 1 year policies.
• No need to shop around as often. This can actually be detrimental since it allows policy holder to become complacent and it may result in paying more for insurance if the person does not shop around when it comes time for the insurance renewal.

Driving without insurance in California
In short, don’t even think about it.

1. The vehicle can be towed. Towing fees and storage fees are extremely expensive. Expect to spend a minimum of 300 bucks to get the car or truck out. Some tow yards even charge for “storage” by the hour.
2. Traffic Ticket cost can range between $100 and $500 dollars. Repeat offenders can rack up higher costs. Good for them!
3. The DMV can cancel your vehicle registration. Here is the info straight from the CA DMV website:
   

   Vehicle registrations are subject to suspension (CVC §4000.38) when:
   * DMV is notified that a policy has been cancelled and a replacement policy has not been submitted within 45 days.
   * Insurance information is not submitted to DMV within 30 days of the issuance of a registration card upon initial registration or transfer of ownership.
   * The registration is obtained by providing false evidence of insurance.

4. Driver’s license can be suspended. Insurance rates go up for drivers that receive suspended licenses.

Insurance quotes are always free, and they are typically instant. The car does not need to be in the quoter’s possession at the time of the quote so some research can be done to see what the difference in insurance premium cost will be with different cars. The car trim level is usually taken in to consideration, so the top of the line model could cost slightly more to insure than a base model vehicle.

Tesla, future manufacturer of the 109 thousand dollar electric powered Tesla roadster that bears a striking resemblance to the new Lotus Evora, went public today with their IPO priced at around 17 bucks a share. Many investors took advantage of this opportunity and drove the price of this electric car manufacturer’s stock up to a final resting place of $23.89, which is a gain of $6.89 per share or 40.53% for TSLA.

Tesla raised over 200 million dollars today. They have already made plans to produce their cars at Toyota’s old NUMMI car manufacturing facility in Fremont, CA. As of today, this plant has shut down because of all the negative press that Toyota has received. Toyota is still getting complaints about their cars going crazy and putting their owner’s as well as other people on the road including pedestrians lives at risk today. In the San Francisco Bay Area, one woman reported that her Toyota Highlander went out of control even though it was not on the recall list.

The massive Toyota recall of 2010 affected over two million automobiles. The resale value of Toyota cars will likely be reduced for a bit of time while consumers get over the fact that these cars were considerably unsafe to drive for many years: starting as early as 2005 for the Toyota Avalon.

A brand spankin new 2011 Toyota Avalon Limited is listed at about 38,485 on the Toyota website. Used Avalon Limiteds average around only 18 to 20 grand on craigslist so substantial savings can be had on second hand Toyota Avalons.

Another big impact this recall will have is on car advertising and marketing. Other car manufacturers, especially the American companies, will now have an opportunity to pick up some new customers that have lost faith in Toyota. And why not? Domestic cars such in the GM family such as Chevrolet now come with a fantastic 10 year powertrain warranty. That covers all the major components, but it does not cover everything such as sensors like the TPS, or throttle position sensor. It is still a great warranty and it should give U.S. consumers some additional peace of mind.

I like purchasing my vehicles used. As a matter of fact, I have never purchased a new car (yet). One of the benefits that new car buyers typically receive is a low interest rate on their auto loan. Some car manufacturers such as GM will have promotional specials as low as 0.0% APR! Other car companies that don’t need to give their customers as much incentive to purchase may only offer “low” rates, such as 1.9% or 2.9%. These rates are spectacular! But how can used car buyers save money?

Many Americans buy cars that they cannot afford immediately and therefore they will need a loan. The source of the loan is typically a bank. GM for example has their own bank: GMAC, the General Motors Acceptance Corporation. GMAC can be used to provide new car loans as well as used car loans. Honda, Toyota, and other manufacturers have their respective credit lines to offer to their customers.

One way to save money on car loans is to finance the vehicle purchase through a traditional bank. Your current banking provider may have some rate specials going on so it definitely doesn’t hurt to check. Here’s a recent auto loan promotion from Capital One Bank:

Capital One(SM) Auto Finance

Get approved for your auto loan before you shop for your car
with fixed rates as low as 3.01% APR

As a valued Capital One® cardholder, you deserve to know about incredible opportunities when we have them. Right now, you can apply online for low, fixed rate auto financing with our Blank Check® product.

With just three simple steps, you could drive away in your new car!

Step 1: Apply online. It’s fast, free, and there’s no cost or obligation.
Step 2: Once approved, you’ll receive your Blank Check package by mail as soon as the next day.
Step 3: Make the Blank Check payable to the dealer and drive away!

Apply now while rates are still low. In minutes you could be on your way to hassle-free car buying. It’s that simple!

It’s that easy to save money with a lower rate on a used car purchase. Some dealers offer some insane rates. Doing a little homework up front can save loads of money in the long run.