If you are in the middle of repaying a car financing agreement, you must take the necessary steps to protect your investment. While this may involve fundamental and practical actions such as driving safely and embarking on a proactive program of car maintenance, there may also be occasional instances where more far reaching protection is required. Should you take the difficult decision to relocate cross country, for example, you will need to decide exactly how to transport your vehicle and determine its precise role in helping to facilitate the move.
Cross-Country Relocation: Safeguarding your Vehicle
Essentially, you have two options to consider when it comes to your vehicle and cross-country relocation. You can either invest in a professional firm to transport you car to save on mileage and wear, or you can drive your car and even use it to transport smaller goods and material possessions. Both of these options are fraught with risk, as an accident or misadventure could cause significant damage and undermine the repayment or worth of your financing agreement. With this in mind, you will need to consider the following before taking action: –
1. Shipping your Car Cross Country
If you are inclined to ship your vehicle, it is important that you first identify a reputable service provider. It is particularly crucial that you determine their level of coverage and whether they are protected by courier insurance or a more basic haulage policy. In addition to this, you should use the Internet to evaluate any independent online reviews and the firms general reputation, as this offers an insight into the level of service they have delivered previously.
Once you have identified one or more potential partners, you should then strive to interact with each firm to determine their processes and methods of working. A reputable company should provide a full and comprehension of the vehicle prior to collection, while they should also solicit your consent and signature on a document to confirm the condition of the vehicle. With this in mind, you should perform your own inspection and examine any small print carefully, as this will ensure that any subsequent damage is clearly identifiable and indisputable in the event of an accident.
2. Driving your Car to its New Location
While driving your car cross-country as part of the relocation process may seem like a lower cost and less troublesome option, there are risks associated with taking your vehicle on a potentially long and difficult journey. If your financed vehicle is intended for everyday use and commuting, for example, there is a danger that it may develop a fault which undermines its core purpose. This could cost additional sums of money in terms of repair and sourcing an alternative mode of transportation, and this may impact on your ability to make monthly finance repayments.
You therefore need to research a route and the terrain involved, in order to ensure that the car is able to effectively make the journey. This will help you to save you considerable hardship while out the road, and may even lead you to make a more informed decision with regards to the transportation of your vehicle. While it is easy to become preoccupied with bottom line cost in the current economic climate, you should not underestimate the importance of existing investments and that value that they deliver over a prolonged period of time.
The Last Word
Regardless of how you transport your car during a cross-country relocation, it is crucial that you recognize the importance of safeguarding any investment that you have made in the vehicle. Maintaining the everyday performance of your car is key to getting value from your existing finance agreement, even if this requires you to make an additional investment in shipping or transportation services.
About the Author: This article was written by Lewis, who works as a researcher and blogger for Car Finance 247. He is passionate about obtaining value for money and the need to adopt a long term outlook when considering expenditure.