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Garage insurance is a much misunderstood policy form. Many professional insurance agents are confused about exactly when to use it and more importantly exactly how. You can use a garage liability policy to protect a used car dealer, often referred to as dealer’s insurance, or you can use this same form to protect an automotive repair shop or to set up body shop insurance. The trick is to know the symbols. If you own a car dealership or an automotive repair shop and are purchasing insurance for your business, it is advisable that you find an agent who specializes in the garage insurance form to help you with this purchase so you don’t end up with the wrong form and perhaps find yourself without coverage after a large loss.

As I mentioned earlier, both types of businesses, auto repair and or body shops and used car dealers both need the garage policy. But exactly what kind of operations are covered in these policies is driven by the symbols shown on the policy. This is very important. If your business is automotive repair or body work but your policy is set up with symbols that would apply to a car dealership, you could find yourself without coverage in the event of a liability loss.

 

So how do you know if you have the correct symbols and thus the correct form? Pull out your garage policy and look at the first page.   Beside each type of coverage, usually to the left, there will be a least one two digit number between 21 and 31. These symbols will describe what is protected by the coverage shown beside that symbol. Here is a list of the most common symbols and what each one protects:

Symbol 21                 Any auto

Symbol 22                 All owned autos

Symbol 23                 Owned private passenger autos only

Symbol 24                 Owned autos other than private passenger

Symbol 25                 Owned autos subject to no fault laws

Symbol 26                 Owned autos subject to Uninsured Motorists law

Symbol 27                 Specifically described autos

Symbol 28                 Hired autos only

Symbol 29                 Non-Owned autos used in the Garage Business

Symbol 30                 Autos Left for Service/Repair/Storage

Symbol 31                 Autos on Consignment

 

As you have probably figured out, if you are an automobile dealer and you have symbol 30 on your policy, you would find yourself without coverage. So why not just put symbol 21 on all coverages? Well, since code 21 is the broadest coverage, you would have to pay more for this insurance policy and in some cases you might be purchasing insurance protection that you didn’t really need.

 

Take some time to look at your policy carefully and review the symbols for each line of coverage to make sure that they are appropriate for the work you do. If you need help with this process, consult your agent. If you agent doesn’t specialize in businesses needing garage policy, ie dealers insurance and auto repair shop insurance, then find one who does. This protection is just too important to leave up to an agent who is practicing on the job learning on your policies.

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Source by Wake Clinard

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When the economic climate is in a state of recession and unemployment is rising, it only makes sense to starting looking for an at home business. If you have your own business, you don’t have to depend upon having an employer to earn money. You can be your own boss and set your own hours.

And one business that is not going away anytime soon is the used car business. People have been making money buying and selling cars ever since the automobile was invented. The used car business is a ready made market with plenty of demand for low cost, reliable transportation. In today’s modern society, transportation is a must, no matter how you look at it. People need transportation. This means there’s always going to be an in-demand market for cars. And having a business where there is a definite market is the first thing you look for when considering running your own business.

One way to earn money selling used cars is outlined in Stephen Hobbs’ e-book The Lazy Way to Buy and Sell Cars for Profit. But, does his method of marketing really work? How difficult is it to buy and sell cars for profit? Do you need a license, and can you do this out of your home?

The answer to these questions – and many more – are all contained in Stephen’s e-book. In the book Stephen sets out to destroy some of the myths around this business that has kept others from even attempting it. You can set up a profitable home-based business without having to obtain a dealer’s license.

“You don’t need to get a car dealers license unless you want to and getting one suits what you want to do with this,” Stephen points out. He suggests that you start out small. And he reveals a completely legal way for you to buy and sell cars for profit while retaining all the advantages of having a car dealers license, yet without any of the disadvantages. It’s all up to you how you want to work it.

Once you know how to deal with sellers of used cars, you can get the price you want. Stephen’s book teaches you the secrets of negotiation. He also teaches you which cars to look for in the cars you buy and which to leave on a sellers lot. Armed with this knowledge, you will soon become an expert on what cars are in demand and will sell for a premium profit, and what cars to stay away from. Having this knowledge is key to becoming successful in this business.

If you are looking for a business that you can be up and running with in a relatively short time period, buying and selling cars is something you will want to seriously consider. With over 150 pages of no-fluff realistic content, Stephen’s book will help shorten the time frame between buying your first used car and closing a sale with a ready-made buyer. You will soon learn what others have already learned, that “consistent demand makes this the perfect recession proof business.”

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Source by Thomas Eliot

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When one starts a search for a new car, or in fact a used car, there are a number of things to consider. For example, some people may not want to travel very far to get their new car and should therefore consider dealerships that are only close by. For instance, people in New Jersey may want to buy from a Buick NJ dealership, a GMC NJ dealership, or find a used Buick in NJ. Another important factor in a good car buying decision is the budget that the person has set aside. Of course, only if cuts can be made elsewhere in the individual’s budget should they consider going over the amount they initially planned to spend. Finally, some people may consider what cars are most popular when making their decision, and that is what the next few paragraphs will discuss, is the countries with some of the best reputations for making good cars and the brand names that are associated with each country.

One country known for producing good cars is Germany. While German cars often times end up on the more expensive side of things, they really are typically worth the money with their excellent and precise engineering and good driving. Some of the more popular brands from Germany are Audi, Volkswagen, BMW, and Mercedes, all of which have a reputation as being at least semi luxurious automobiles. While it may seem funny and ridiculous to Americans, it happens that many taxi cabs in Germany are made by one of those four brands because they are domestic and therefore more plentiful in their country.

Another nation known for producing good and well made cars is Japan. Amongst the more popular makes from this country are Toyota, Honda, and Lexus, however Lexus is actually the luxury end of Toyota and therefore not their own company. Many people who purchase Japanese cars are very happy with their decisions and it is often stated on Toyota commercials that up to 80% of the Toyota Camry models sold in the past twenty years are still on the road, a very impressive feat that speaks to the durability and reliability of that particular model.

In terms of style, elegance, and pure, unadulterated luxury in automobiles nobody can top the Italians. While many of them cost more than the average American house, Italian cars are truly some of the best in the world. With brands such as Lamborghini, Ferrari, and Alfa Romeo, an Italian sports car is the must have item for all rockers, star athletes, and other millionaires. In fact, the best way to buy a car like this if one is so inclined is to try and find a model that is over twenty years old and possibly in need of some repair, because while they are still good cars you can then buy them at prices that seem incredibly low based on what they were initially worth.

Many countries have excellent reputations when it comes to car production and there are lots of factors to consider when making an automobile purchase.

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Source by Connor R Sullivan

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Does your car or truck part give you trouble in performance? Is it tough to get easily their replacement parts in the market? Well in that case you might have already weighed the options of going for a brand new engine. So how do you really decide between the thrill of buying a new auto and economizing on an old one? There is no definite answer for this question but going for a used auto engine might still be a cheaper option even if you buy a discounted new car. Having said this you should always keep in mind, some important factors on any engine new or used usually have, like-

Depreciation Value, usually the highest cost involved

Maintenance and repair

Your interest on loan

Insurance

Fuel consumption

You can easily make an accurate estimate of these costs for any auto engine on your own or with the help of the vast resources on the net. Once this is done all you need to do is to keep the following checklist handy to guide you through your purchase-

New engine Pro’s

Comes under warranty

Well Maintained

You can pick the exact color and options you want

New engine Con’s

High depreciation cost involved

Taxes and insurance is higher

Have to deal with salesperson

Used engine Pro’s

Lower purchase price

Insurance and tax rate are less

Depreciation is flatter

Used Engine Con’s

Low reliability previous owner might be getting rid of it

High maintenance

Recently it has been seen that a nationwide network of online automotive stores have popularized the sale and purchase of used auto engine/parts. Since there is no middleman involved therefore these online firms offer the customers all their products at ware house prices. If you go with this option you will not only save money but also time. Hence, now you need not run around the market dealing with temperamental salespeople to fix your automobile. So the conclusion is that you should go for the new car only when you have a good budget else simply replace your auto engine with some used engine offered in the market in a good quality.

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Source by Manoj Tiwari

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Perhaps, the economic downturn is one of the main reasons for the growth of the used cars market. Many people opt for buying used or pre-owned cars because according to them, it is not wise to invest in new vehicles when the economy is in such a bad shape. If you are also looking to buy a used car, you should check some of the most important aspects before closing the deal.

– Firstly, you should decide your budget for buying your vehicle. You may mostly purchase the vehicle for the use of your entire family and hence, your choice of the vehicle depends not only upon your budget but on the size of your family also.

– Once you narrow down the list of the cars you are looking for, you must choose a good dealer who has pre-owned cars of these models.

– After short-listing the cars, you should make it a point to check the years of registration of the cars. Buying a car that has run more than 18,000 Kilometers is not advisable. But, while checking this, you should see if the Odometers of the vehicles are functioning well.

– The engine of a car is the most important part and so, you should check if you are able to start the engines smoothly. The other parts such as transmission, frame, tires, exhaust are equally important and hence, you should make sure that they are also in good working condition. Further, the transmission and the drive shaft should be in a durable condition. If you test-drive the vehicles along with your own mechanic, you will be able to check if all these parts including the engine and the transmission are functioning well.

– In countries like the US, you can get Car Fax reports and from them, you can know the complete history of the cars. You can know the details of the accidents, if any, also from these reports. The mileage of the cars, their erstwhile owners, etc. will also be available on these reports. You can also get the details of the inspection and service history of the cars from these Car Fax reports. The previous owners may not have reported some of the accidents but, they will also find a place on these reports.

– You should never buy flood-damaged cars because it is very risky. You can find this out by contacting the National Insurance Crime Bureau with the Vehicle Identification Numbers of the cars. You can detect this also by inspecting the cars thoroughly and by checking if there are moldy odors. If you find rust in any parts of the cars, you can conclude that floods have damaged the vehicles.

– You should check the cooling system, the radiator, the alternator and the starter of the cars. There should not be any leaks in the radiators. Brakes should be in top condition.

Even if you are well-acquainted with the dealer, you should have your own mechanic with you while inspecting the vehicles. Of course, the dealer may have his own mechanic but you should insist test-drives by your mechanic only.

These tips will help you to zero in on the right pre-owned car.

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Source by Raman Kuppuswamy

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Buying used auto parts is less expensive than buying brand-new parts, but the benefit of purchasing gently used auto parts exceeds the monetary paybacks. Motor vehicles are the most recycled consumer product in modern times, with 95% of retired vehicles reprocessed and given a second life. Auto recycling is a $25 billion-per-year industry, and a main component is the reuse of high-quality, undamaged parts. Why should you trust used parts as a viable car-repair solution?

Know What You Are Buying

When you go online to purchase a new or rebuilt auto part, you are putting a huge amount of trust in the retailer. You are paying shipping and handling, but you have no way of knowing if the part will be delivered as advertised, or if the part is actually from the original engine manufacturer. Manufacturer knockoffs are never the best choice when replacing vital car parts. Additionally, rebuilt parts are not always ideal, or as positive as they might sound. Many times, the part will be dismantled and the one component that was problematic replaced, but the other aged components are built back into the part, ready to fail and leave you with more car trouble in the near future.

When you purchase used parts from a local shop, you match up car VIN numbers and get true, authentic parts, guaranteed to be issued from the original engine manufacturer.

Preserve the Environment

According to the U.S. Council on Automotive Research, almost 80 percent of a car’s materials are recyclable. While you will save up to 50 percent of the price, you will also be supporting an industry that recycles 25 million tons of materials annually. The sheer breadth of that measure of recycling goes a long way toward keeping auto materials out of landfills and conserving the environment.

Expedite Your Vehicle Repair

You depend on your car for transportation to work and school. When your ride is out of commission, you can lose money missing work and fall behind in classes. You might be lucky to have generous friends with wheels, but they cannot be your chauffeurs forever. Waiting for an ordered part to arrive can add weeks to the process. Finding a local used part can speed up the time it takes to get your wheels back on the road.

Get Expert Advice

If you buy used parts from a local parts store, you get reliable information directly from the handlers who harvested the part. Chances are, if the owners run a successful parts store, they know their way around a car. They can help you find the right part, give you detailed guidance regarding your particular car and provide suggestions on installation.

When your vehicle needs an emergency repair and outside factors are working against you, save time, money and the environment and turn to your local used auto parts retailer. With so many reasons to buy used auto parts, there’s no reason you shouldn’t start your shopping now.

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Source by Jill Smith

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State of the Market

With 3 million+ used car sales, India’s used car market has outpaced the new car market which could only manage about 2.5 million units. This puts the new car to used car sales ratio at about 1:1.3. While this ratio seems fairly optimistic for the industry, it’s still way behind the Western levels of 1:3 in the UK and US, and around 1:2.2 in Germany and other Western European economies.

However, the market has been aggregating a compound annual growth rate of 15-18% in the last five years. The CAGR is expected to shoot up to around 22-25% by 2018. Experts have pegged the ratio of new cars to used cars sales to become 1:2 by 2017-18. Sales of used cars are, therefore, likely to more than double in the next 5 years.

A research by CRISIL found that between 2008 and 2013, sales of used cars doubled to 2.6 million units leading to a fourfold increase in the size of the market to Rs. 520 billion. The report further estimated the sales of used cars to reach around 8 million by 2018 which will put the valuation of the used car market at Rs. 1.5 trillion. Whereas the sales of new cars are expected to reach around 4.2 million units.

Business Model

The market is made up of competitors with three distinct business models. The transaction parties include franchised and independent dealers who take on the financial risk of buying and selling cars. The transaction facilitators – online sales platforms and online matchmakers – depend on fees from enabling sales transactions. The information providers offer insights into pricing trends and details of the condition of specific cars.

Used cars are sold to end customers via these three channels. A majority of the transactions are managed by the private sellers themselves. The second major channel of transaction includes franchised dealers. Independent dealers and other online sales platform make up for the rest of the total sales.

Though the market is still heavily dominated by the unorganized players, the share of organized players has been on the rise. Growing at a compound annual growth rate of 40%, organized segment now accounts for about 18% of the total market and is expected to rise to around 25% by 2017-18.

Key Market Trends:

• Changing Demand

A majority of the total automobile sales in India consist of 2 wheelers. Among this population, many people are looking to upgrade from a 2 wheeler to a 4 wheeler. Further there is a growing economic and social need among buyers in the age group 25-40 to own a car. These first time buyers and 2 wheeler owners looking to upgrade mainly make up for the demand in the used car market. With the increased availability in the number of used cars available and the increasing presence of organized players in the market, more buyers are likely to enter the market for used cars. Vehicle certification and car history reports, warranty and after sales support are going to bridge the earlier existing information asymmetry and are likely to be the key drivers behind the demand.

• Changing supply

Average replacement cycles are falling. According to a survey, in 2006-07, buyers held onto their new cars for as long as 54 months (4.5 years). This fell to 48 months (4 years) in 2011-12 and is expected to fall down to 42 months (3.5 years) in 2016-17. This increase in the frequency of replacement will allow for an increase in the supply of used cars as old as 3-4 years. Also, with improvements in the car quality (resulting in a longer life span), demand for used cars is poised to increase in the near future.

• More online transactions

Buyers of used cars are slowly but surely turning to the Internet to research and buy cars. Consumers are arriving at dealerships armed with more information about specific cars and a better understanding of market prices, and they are visiting fewer dealers before buying their chosen car. The rapidly increasing use of mobile devices is boosting this trend: More than 20 percent of all Web searches related to “used-cars” are now conducted on these devices. Traditional brick-and-mortar dealers will be forced to follow this audience online, perhaps offering used cars through online marketplaces that provide referrals to dealers with binding offers – a model already available in the United States.

• Increased transparency

The availability of information on the Internet has already increased the efficiency of the used car market significantly, providing greater transparency into prices and even the condition of specific used cars. Growing use of online transaction platforms will only boost market efficiency further; indeed, digital intermediaries have the opportunity to shape the structure of the industry as their influence grows, accentuating competitive pressures and revealing the disparity between the most efficient buyers and sellers and the laggards.

• Growing importance of convenience

With the advent of increased internet penetration and the continued distrust in the validity of claims of Independent dealers, more and more private sellers are looking for alternative- fast and hassle-free ways to sell their used cars. This trend will have a real impact on the used car market as private owners turn to newer online business models to sell their cars. Offering fast, guaranteed transactions, online buying platforms are particularly likely to benefit.

• Growing market penetration

The vehicle ownership rate in India stands 18 per thousand people. At 2 per 100 people, this is one of the worst in the world. With the increasing GDP per capita and an increase in the percentage of rich households, the ownership rate is likely to change for better. This presents an incredible opportunity for OEMs to expand their production in India. In US, ownership rates are as high as 95% and around 60-70% in Western Europe.

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Source by Anuj Kumar Dwivedi

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Buying a vehicle is a serious and expensive purchase, which is why you have to take your time and do an extensive research before you decide what car to buy. There are lots of things you have to take into consideration, including price, specifications, auto insurance, and payment methods. When looking to buy a car, a lot of people are faced with the dilemma of buying a used one versus a new one. Maybe a new car seems like the obvious choice, but there are some very significant benefits of buying a used car, related to price, maintenance and insurance, which should be taken into account by everyone who believes that new vehicles are the better option.

The main, and most obvious advantage of choosing a used car over a new one is the lower price tag. If you decide to buy a used one, you can get a pretty good model with great performances, at a very low price. For example, you could buy a used sports car that cost more than $80,000 a couple of years ago, when it was new, for as little as $40,000. This is because new cars lose much of their value the minute they leave the dealership.

Talking about depreciation, used cars are not affected by it as much as new ones are. New cars lose most of their value during the first two or three years. If you buy a used car, you don’t have to worry about it losing much of its value, since it already depreciated a lot when it was first sold as a new vehicle. This way, when you decide to sell the used car after a couple of years, you will be able to sell it at a price that will be pretty similar to the price you had bought it at.

Another reason why you should consider getting a used cars is the lower registration fee. DMV’s charge less for registering cars that are more than five years old, and you can save a couple of hundreds of dollars a year that way. Also, used cars are not subject to sales tax, which, for new cars, is as much as 7% of the purchase price.

Lastly, insurance for used cars is cheaper compared to new cars. This is because a new car is more expensive and has a higher value, and it costs more to replace parts and repair it in case it gets damaged in a collision.

In conclusion, owning a new car does have a lot of obvious benefits, but owning a used car has its own advantages, too, and you should consider this option before making your final decision.

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Source by Jordan Perch

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You have determined that you want a sea-worthy craft, and it is between a canoe and a kayak. Decisions, decisions. There are some pretty obvious aspects like what size is preferable, what transport constraints are there (if any), how many people are going to be in the same vessel, what shape and materials it should be, and of course, and most broadly, what is the intended function going to be? For purposes of this article, I will talk about the broader differences and similarities of canoes and kayaks, rather than each in depth, for brevity’s sake.

First things first, take in to account how you are going to store and transport your water-craft. Most canoes, palpably, are not going to mount onto a roof of a car or even fit into the bed of a truck. So if no trailer is available, a slim one or two person kayak mounted atop the car via either a secure foam-block or roof rack will do quite well. Furthermore, if even the roof is not a viable option, consider a one of the high-quality inflatable or collapsible kayaks or canoes. Storing a reasonably sized canoe is sometimes a more attractive thing than storing a kayak. While kayaks are generally smaller and narrower, they need to be stored in more controlled conditions – many need to be kept out of direct sunlight and in a cooler environment, due to the polyurethane-based plastics commonly used that will not withstand prolonged exposure. This is especially true of upper-end kayaks, whose frames and finishes need extra-caution when in transport and in being stored.

This is how things work when the boat is actually doing “its thing” for lack of a better expression! From a storage standpoint, it should be more than obvious that a canoe is going to offer more. Offer more storage for people, as well as fishing equipment and so forth. Also, standing up to perform a range of activities is going to be significantly easier in the canoe, which will be a lot more stable anyways considering its broader hull. On the other hand, kayaks are meant for a lot more for speed, agility, and ease of paddling. Most canoes are pretty susceptible to even mild winds, and in worse conditions, it would be a miracle to paddle 10 feet ahead in a semi-straight line. The slimmer, lighter and more suitably-constructed kayaks will take winds and waves like a champ, though.

Safety concerns with both canoe and kayak are also very much worth mentioning. If you are considering buying a kayak, if for anything besides extreme white water rafting, go for the one that does not “lock” you in via foot and thigh braces. Take it from me, you do not want to be upside down in a kayak and unable to get out of the cockpit! Of course, with a canoe, the advantage is obvious. Once you go shopping, if you go shopping with the canoe versus kayak debate, you will learn a great deal on the various models of each. In addition, you will get to see the vessel up close and personal, whereas pictures can only do them so much justice.

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Source by Chris DuToit

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If you are rebuilding your vehicle or restoring an old one like new, you might consider using the GM 700R4 transmission. There are many benefits to using this model. Many of the benefits include the performance, the overdrive, gas mileage, and increasing the value of your vehicle.

When you use a 700R4 transmission you will find you have total power. This unit is a monster and can be built to handle up to 650 horsepower. This high performance overdrive is top of the line and an excellent option for your rebuilt vehicle.

Rebuilding a car is a lot of fun. When you can use an affordable upgrade like the 700R4 transmission, you will also see that is has a low 3.06 ratio in the first gear. This is over 20% lower than more Chevrolet models you will find.

The overdrive for the 700R4 will give you an almost 40% improvement on gas mileage in comparison to a 3-speed automatic. For this reason, the 700R4 is the best option for anyone who wants to do an overdrive conversion for muscle car restorations because they can add the overdrive option. This model has a 30% overdrive. Better gas mileage is a really big deal when it comes to vehicle restorations. You want to get the most for your money, especially with the sporadic gas prices today.

Restoring your vehicle using the GM 700R4 transmission is the best option because you will find that the value of your car increases significantly. This is because it’s the best option today for restoring old muscle cars, trucks, or just converting an old 2-3 speed vehicle. You might not even be thinking about selling your car and just want a new gear. This is the best solution to increase performance and it will run like a completely new vehicle.

The best modification you can use for a restoration of a vehicle or an upgrade on an old car or truck is the drivetrain. This part will allow you to save money in gas, have more power, and you even can add the converter lock-up option. With a 3.06 ratio in the first gear, no other model can compare. This unit works second to none when it comes to total performance. In addition, you will find that your vehicle is worth more money than it was before with this type of upgrade.

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Source by Joseph Thomas I