How Soon Do You Need Insurance for a New Vehicle Purchase?

How Soon Do You Need Insurance for a New Vehicle Purchase?

Auto insurance is difficult to understand sometimes. It’s always better to err on the side of caution and make sure you’re covered. Driving around showing off your brand new vehicle, only to get in a wreck would be a bad enough day. Finding out your vehicle isn’t insured would be an even worse day. Then get a ticket, a really really bad day!

are you covered auto insurance

How long do you have to get auto insurance?

So how soon after a vehicle purchase in Wyoming, do you need to get your new vehicle insured?  If you don’t already have an auto insurance policy, you’ll need one right away. If you are trading vehicles it depends on YOUR insurance policy. Some insurance providers may have a ‘grace’ period for you change over. Some may be 72hrs and others maybe 30 days. Check with whoever you are insured with. It’s a good idea to get a quote on the new vehicle you are planning purchasing anyway as the price may be very different from your current vehicle. The other advantage to doing this is that your insurance company should then have the quote handy. Thus making the transition faster and smoother for when you do get your new vehicle.

We contacted Leigh Cripe, an insurance agent for State Farm in Wyoming. Here’s what she said;

  • “Most states require drivers to have auto insurance. So first, know what is required by the state and lender if you plan to finance your purchase. Contact your local insurance agent to get you started on what is required.

 

  • If you’re at a dealership getting your very first auto and have never had an auto insurance policy, you’ll need to get coverage first to finish the deal.  Usually, you’ll need proof of insurance sent to the lender to satisfy their and state requirements before you can drive off the lot with your new auto.

 

  • Typically you’ll need liability, collision and comprehensive coverage.

 

Liability helps pay for auto damage and injuries if you’re at fault. Collision pays to repair or replace your auto if you’re in an accident with another auto, hit an object, or roll your auto. Comprehensive coverage helps pay to repair or replace your auto if it’s damaged by something besides a collision, including; theft, fire, vandalism, or hitting an animal.

If you currently have auto insurance coverage on another auto, talking with your agent will help you determine what coverage is needed for your new auto”

It’s the law

Wyoming Title 31 states that, “…Proof of insurance shall be carried at all times in the insured vehicle and shall be open for inspection at all times when requested by any peace officer”.

For more information and a guide on auto insurance check out this page by the Wyoming Department of Insurance.

Fremont Volkswagen Helps Drive Science in Casper

Fremont Volkswagen Helps Drive Science in Casper

Fremont helping the community

 

Teaming up in the name of science

If you live or have lived in Casper, Wyoming and a have a kid or two or five, you’ll likely have heard about The Science Zone. According to VisitCasper, The Science Zone is, “…the ultimate playground with an educational twist”. Fremont Volkswagen of Casper has recently teamed up with The Science Zone by donating the use of a brand new 2018 Volkswagen Tiguan. This enables the Science Zone to continue their outreach programs throughout the Natrona County region. They will be using the SUV to travel to schools. Bringing science right to the doorstep of children in the area.

As The Science Zone moves into the future of education and student engagement, we recognize Fremont Volkswagen as an indispensable partner who is LITERALLY propelling us forward. This partnership results in fuel-efficient and reliable transportation by which the educators from The Science Zone continue the educational outreach” says Jason DeWitt, Development Director at The Science Zone.

Science Zone

Jr Paleontology Academy at the Science Zone

Corey Rissler, General Manager of the Fremont Volkswagen dealership, believes aiding future education and science in the community is incredibly important. He does not think budget cuts in the school systems should impact the future success of our next generation by limiting the resources available to them. Inspiring the next generation of scientists and engineers is invaluable and necessary. It is our pleasure to help those who want to help our youth move forward and continue their mission!

The ‘Science-Zone-Mobile’ : a Volkswagen Tiguan

VW Tiguan

Jason Dewitt, Development Director of The Science Zone and Corey Rissler, General Manager of Fremont Volkswagen stand in front of a VW Tiguan. The new ‘Science-Zone-Mobile’.

The Volkswagen Tiguan is an AWD midsize SUV that has won a plethora of awards for the brand new design. Just one of those awards is, cars.com ‘SUV of the year 2017‘. With 73.5 cu.ft of cargo space available, there’s plenty room for supplies. The car also features the latest in technology with Apple CarPlay, AndroidAuto and available safety features such as;

  • Adaptive Cruise Control,
  • Forward Collision Warning,
  • Blind Spot Monitor,
  • Autonomous Emergency Braking,
  • Lane Assist,
  • Pedestrian Monitoring,
  • Front and rear Park Distance Control (Park Pilot) w/rear Maneuver Braking.

Executive Director of The Science Zone, Steven Schnell says, “We’re incredibly excited and grateful for the ability to send our educators into our community in our new science-zone- mobile! The opportunity this affords us is immense and will certainly help bolster our brand and name recognition across our region, all the while allowing our educators to serve students at schools and events far better.

The Science Zone

Fremont Volkswagen

7-year-old Skye having fun and learning at the Science Zone

Jason Dewitt continues,  “To an undeniable degree, the future of The Science Zone is in the hands of our business partners and corporate donors. Fremont Volkswagen has proven their commitment to The Science Zone and those who enjoy our services. They understand they have a stake in the education and training of our future workforce”.

The Science Zone has operated in different locations and in different capacities, but over those twenty years, has never lost focus of our mission to, “…inspire the mind, to delight the senses and to ignite a passion for the technical arts and sciences.” We specialize in the engagement of young inventors, innovators, and visionaries. Our dedicated and professional staff make it their personal goal to recognize and cultivate the potential greatness of every person who is lucky enough to walk through our doors. Our driving force is our board who is made up of professionals from education, marketing, healthcare, creative arts, and skilled trades.

7-yr-old Skye pictured to the left enjoys her time with The Science Zone ‘playing’ and learning at the same time. For more information on The Science Zone, check out their page here, and more information on the Tiguan, contact Fremont Motors Volkswagen, Casper. 

 

 

 

 

 

 

Which Volkswagen, Tiguan or Atlas?

RAM 1500, What’s New for 2018?

RAM 1500, What’s New for 2018?

Previous updates on the RAM

Five-time Motor Trend truck of the year, Ram trucks (formerly Dodge Ram) are now in their 4th generation. Here’s a brief overview of some of the changes that happened last year. 2017 seen changes in the way of a ‘RAM’ lettered front grill for Limited and Longhorn models as well as stamped on the tailgate. The UConnect 8.4″ touchscreen was added to models that previously didn’t have it, and the Laramie got more speakers. Special editions such as the Sublime Green Sport 1500 were added. The Night Edition was added which has black trim, grille, badging and 20″ aluminum-alloy wheels added to a Sport model. An Off-Road package was added as an option for 2500 trucks and the Power Wagon was updated with a black grille, retro graphics, larger tires (Goodyear Wrangler Duratrac’s) and the Off-Road package.

What’s changed for 2018

2018 will be the last year of the fourth generation RAM. Several special editions have been added, such as the Harvest Edition that matches Case International and New Holland farm equipment colors. (Read our article on the Harvest Edition here).The ultra-luxury, top of the line, Tungsten trim level is added, featuring a suede roof liner. Hydro Blue Sport special edition added…more on that below.

super fancy truck

2018 RAM Tungsten Edition, Photo: FCA MEdia

The biggest change for most of the 2018 RAM Trucks is the addition of Apple CarPlay and AndroidAuto to the latest 8.4″ Unconnect screen. The 8.4″ touchscreen also gains better resolution as well as touch pinch to zoom capability. The radio system goes HD and 4G LTE is available.

connect smartphone dodge ram truck

Apple CarPlay on 8.4″ Unconnect on 2018 RAM Trucks Photo: L Baures

Also added for 2018 RAM Trucks;

  • The Sport model gets an appearance update
  • RAM Rebel’s (off -road 1500) now have the option of leather interior
  • Sirius Guardian with SOS Call, Roadside Assistance, Remote Services, Send and Go, and Vehicle Finder
  • Switch in the truck bed to turn on LED bed lights
  • Backup camera standard on all models
  • Telematics module available for Fleet customers (vehicle tracking)

 

Ecodiesel is back

The 3.0 liter EcoDiesel V-6 engine is back. After some hiccups with EPA about emissions controlling software, the Environmental Protection Agency (EPA) and the California Air Resources Board (CARB) has now approved the diesel engine for sale according to Car and Driver.

  • 240hp
  • 420 lb-ft torque
  • Estimated 27mpg
  • 8-Speed Auto Transmission

 

Hydro Blue Sport 1500

A special edition Hydro Blue pickup will be the final special edition of the 1500’s in 2018 and only 2000 will be available for sale.

Mike Manley, Head of Jeep & Ram Brands says,  “Enthusiasts demand that their trucks get noticed and our Ram 1500 Sport lineup delivers a durable, powerful alternative with great visual appeal”.  Just like the Sublime Green Ignition Orange and Copper package Sport Editions, the Hydro Blue truck will get color-matching trim. Other features include;

  • Black decal performance hood
  • Body-color Sport grill
  • RAM lettering on grill
  • Matt black badging
  • Black bezel projector headlamps and LEd tail lights
  • Forged 20″ polished aluminum wheels (on 4×4)
  • Blue stitching on the instrument panel, heated steering wheel, and door trim
  • Blue colored ‘Sport’ embroidery accents
  • Deluxe high back bucket seats with mesh inserts
  • Anodized blue bezels on the instrument panel, center console, and door spears.
  • Black headliner
  • Leather an option

 

What Is My Trade Worth?

What Is My Trade Worth?

value of car

Usually, this is everybody’s biggest fear when it comes to purchasing a new vehicle.

What is my truck value, or how much money will I get for my car?

Does the value of my trade come from a magical unicorn in the clouds on a sunny day?

What is ‘book price’ and where do they get these numbers from?

Where do I find out the real value?

What is depreciation?

Unfortunately, cars are depreciating assets, because we use them. They don’t get any newer (although that would be nice!).

This means as soon as you drive, the value of your vehicle drops.

Mileage, as well as wear and tear, are all incurred in the life of owning a vehicle (Unless you have an extremely rare vehicle that you keep tucked under a fluffy blanket in a heated garage somewhere).

Each vehicle has different rates of depreciation depending on factors such as fuel prices, the market, manufacturer publicity, supply and demand, and perhaps the area you live in.

The average vehicle depreciates 15-20% in the first year. According to CARFAX over 6 years, “the average vehicle loses 60% of its total value”.

What is ‘book price’?

Back in the day, the dealership would subscribe to a book (sent every month) that had an estimate of the value of a vehicle.

In this book, the dealer would look up the make and model, check depreciation, then go to a chart at the back to determine how much to add or subtract for mileage difference.

For example, a Toyota Corolla S might say it was worth $10,000 but it had 30k miles more than it should for its year (based on average miles) so that would have meant, for example, subtract $1000.

This takes the estimated value to $9000 based on the vehicle being otherwise absolutely perfect.

What if the trade is not in perfect condition?

The dealer would then have to take into account to the amount of prep or repair work needed to get that vehicle back up to nearly perfect (also know as clean), subtracting that amount from said value. For example, say the car had 4 bald tires and a deep scratch, this could potentially mean another $1100 subtracted from the value, making the car worth around $7900. On top of that is then sales preparation costs, such as mechanical inspections and detailing, further lowering the price.

Guides

Today, there are several ‘books’ available which everyone has access to. There is Kelley Blue Book (KBB), NADA Guide and the Black Book. Prices can vary wildly between books, so where do they get these numbers from? The reality is, any tangible object in this world is only worth what someone is willing to pay for it. Kelley Blue Book get’s their data from wholesale auctions, dealers, financial institutions, and private party transactions. This allows them to see what people are paying/selling the vehicles for.  This data is then used to update their estimated vehicle car values weekly.

NADA (National Automotive Dealers Association) gets their data from wholesale transactions, retail transactions, AutoTrader, manufacturers, and retailers. “We also take into consideration MSRP, invoice, equipment assumptions, as well as supply and demand and other macro- and micro-economic factors and the competitive landscape of vehicles”.

Why ‘the book’ can be wrong for a trade-in.

Although these companies can collect data, none of them are actually in the business of buying and selling vehicles. You will also notice that if you go onto any of their websites, you will notice advertising and some of them may even have you enter personal information. The information given on pricing and values is a GUIDE, not a definitive value or answer.

There will be exceptions to the guide for trades. For example, a RWD sports car is going to be worth less than guide value if you are trying to sell somewhere that has snow almost all year round. It is going to be harder to sell. Another example might be a nearly new truck with high miles. Just as an example, if you put in a 2015 Ford F-250 Super Duty V-8 gas engine with 350,000 miles. The ‘book value’ comes out at $18,615. Would you pay nearly $19K for a vehicle that has 350k miles? Probably not.

Dealers will glance at the books as a guide and only a guide for trades. They not only take into consideration; the make, model, year, mileage and the amount of prep work, inspections, and repairs needed to bring the vehicle up to a clean status, but also what is going on around locally. What is selling, what is getting traded in, what sells fast , what doesn’t, is there a lot of them or are they rare, is it a bad model year for problems, salvage title, accident reports etc so there is a lot more goes into determining your trade value than you might think. It’s not a number delivered by a magical unicorn from the clouds on a sunny day.

To get the best possible price for your trade, the car/truck should be in pristine condition. No dents dings, good tire tread, and all maintenance done. If you feel that you been offered an unfair trade value, you can always try selling your vehicle privately for the amount you think is fair or you can try the Kelley Blue Book Instant Cash Offer.

Pay-off is not the same as value.

When you finance a vehicle, you are paying interest on the loan amount. This means you are paying more on a depreciating asset and can end up being ‘upsides down’. This means you owe more than the vehicle is actually worth. Some ways to avoid this is to maintain good credit ( to keep rates low), make higher payments than required, finance over a shorter term or make a large down payment when initially buying.

Blue Book Vs Black Book

“Automotive Tools Tips Advice – Kelley Blue Book.” Kbb.com. Kelley Blue Book, n.d. Web. 11 May 2017.