New Vehicle Replacement Coverage

April 3, 2019

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Everyone loves a new car and here are some of the reasons why?

  1. Cost. Sure, a new car costs more. But over the long term, not that much more. And the value — not just monetarily — can be much higher.
  2. Reliability. You might have so much going on in your life you don't have time for breakdowns or timely repairs. I was willing to pay slightly more for this certainty.
  3. Not a piece of crap. Buying a car takes an enormous amount of time. I planned to have this car for many years and I didn’t want another piece of crap. As a result, this baseline requirement reduced the disparity between new and used prices. In other words, I wouldn’t save a ton of money getting a used car because I wanted a pretty good car, regardless.  I love driving and I do it a lot. It’s not strictly functional for me. Plus, there are other ways to minimize your total cost.
  4. Cash I’d have to put down. This is important. If you don’t have any cash (or very little), a used car is more attractive because the down payment (i.e., money you have to pay immediately) is typically lower. And if you put $0 down, the interest charges on a new car will be much more. 
  5. Interest rate. The interest rate on your car loan will depend on your credit, which is why having a good credit score is so important. If you have a solid credit score, your interest rate will be lower.This becomes more important over a longer-term loan. Each dealership will negotiate differently. Don’t be afraid to walk out if the dealer tries to change the finance terms on you last minute. This is a common trick.
  6. Resale value. One of my friends bought a $20,000 Acura Integra, drove it for about seven years, and then sold it for 50% of the price. That means she got a fantastic deal on driving a new car for seven years.To check out how your potential car might fare, visit Kelley Blue Book and calculate the resale prices in five, seven, and 10 years. You’ll be surprised how quickly most cars depreciate and how others (Toyotas and Hondas especially) retain their value.
  7. Insurance. The insurance rates are lower for a new car compared to a used car. Even if they’re only slightly different (say, $50 / month), that can add up to real savings over a few years.
  8. Gas mileage. With gas prices on a roller-coaster ride, you may want to hedge your bets and consider a fuel-efficient or even hybrid or electric car. This could be an important factor determining the value of a car over the long term.  
  9. New-car smell. Good god, is there a better smell on earth? This wasn’t really a requirement but I just wanted to mention how much I love it. 

So what happens when your car is totaled in an accident or my Mother Nature? You aren't thinking of the shiny, fast, new car smell then. 

The money you get from your auto insurance policy may not be enough to cover the cost of a new car. This is why we offer new vehicle replacement coverage which gives you peace of mind because it pays the full purchase prices for your brand new vehicle in the event of a total loss. 

Here is a great example of a real customer and how this worked out for her: 

New Vehicle Replacement Insurance All Access Insurance

Keeping you protected.




All Access Insurance in Littleton, CO,  who represents multiple insurance companies as a “Broker” and provides products for auto, home,  commercial, workers compensation, and much more! Call us today for a free quote at (303) 932-1700.