Securing Your Future, Your Automobile, And Your Savings

If job loss has you debating whether or not you should purchase a new vehicle and search for car insurance quotes, automobile makers are presenting you with a benefit: car buy back. But before you pass on this chance, why don’t you take a look at what it has to offer. Also, you should look into a quick insurance quote comparison from multiple companies to cover your new vehicle.
What is car buy back?

According to CNNMoney.com, car buy back is a payment protection plan that some automobile makers are giving to drivers who purchase vehicles from them. Depending on the terms and conditions of your car buy back plan, you can return your vehicle to the dealership and walk away without any obligation to your loan agreement, if any of the following affects with your ability to keep up with car payments:

* Involuntary job loss
* Personal bankruptcy, if you are self-employed
* Overseas transfer
* Accidental death.

Compare Auto Insurance Quotes
Enter Zip Code

Why have automakers created car buy back protection programs?

No thanks to the recession, job loss is a common occurrence nowadays. More people are getting laid off, and it's hard to find employment elsewhere. With uncertain futures, many consumers are reluctant to buy a product, unless there is some guarantee that it won't negatively affect their budgets. Some automakers have realized this and created car buy back plans. Car buy back plans alleviate any worry over life-changing events that the consumer may have upon the purchase of their automobile.
Which automobile makers have car buy back programs?

While some automakers’ buy-back programs expired, there are still a few corporations promoting it. Hyundai, for example, has a car buy back program called the Hyundai Assurance. According to their website, motorists who experience job loss within a year’s time since they purchased a Hyundai vehicle can return it to the dealership. Once returned, the car buy back plan permits Hyundai to pay the customer the difference between the car’s trade-in value at the time a claim was filed by the owner and whatever balance is left on the loan. The car buy back plan allows the automaker to pay out to a maximum of $7,500.
Is car buy back better than other incentives and promotions offered by automakers?

That depends on what you are looking for. Just like each car buy back deal varies between different automakers, incentives and promotions vary as well. However, you should ask yourself these questions before you purchase your car and shop for car insurance quotes:

* Am I financially stable enough to afford a car?
* What is the guarantee that my future is secure?
* How much money am I willing to put down on a car?
* Do I have to make additional payments for a car buy back plan?
* How much auto insurance am I planning on buying towards my new vehicle?
* Will I be able to find cheap car insurance quotes?

Search For Car Insurance Quotes For Further Protection

Once you purchase your vehicle and decide if car buy back is right for you, there is a chance that you live in a state where auto insurance is required – it’s the law in most states. Therefore, shop online for insurance quotes using our online quote forms and get the best coverage possible at a cheap rate to further secure your future and your finances, since it will reduce the chances of you returning your car. And remember that car buy back protection plans can save you a world of trouble in the future – and even your wallet, too.