May 3rd, 2009 by Jaren
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The government gave the Auto Industry giant enough time to get a deal done with regards to a proposed partnership with foreign investors but they failed to get it down to the deadline, GM has declared bankruptcy protection with the government set to get a majority of the company shares till they get their act together. The company has already been dropped form the Stock Exchange as part of the bankruptcy proceedings and the company has made this official with a statement from the President of the United States going on air before company officials stated their case. (more…)
April 3rd, 2009 by Jaren
The news that talks between GM and Fiat are not going well is getting people in the industry to begin planning for the worst, the closure of one of the US’s big 3 auto makers. The news of pending collapse has brought some light before the storm for some dealers with some auto models selling like hotcakes before they close shops. Bad news for the autoworkers of GM for they lose their jobs and most of their benefits but the government has pledged support to get them through. (more…)
March 3rd, 2009 by Jaren
Canadians beware, the many insurance organizations in the Cold North are pushing for a 40% increase in their insurance rates that has so far been shrugged off by the government. This is the position of the government which has not yet bowed to their pressure, but should they fail to continue bolstering the country’s economy they may not have a choice. The Alberta Automobile Insurance Rate Board is set to begin hearing the case filed by the many insurance groups in Canada which has been capped for quite sometime. They are seeking for the hike for them to continue on delivering the right products to their customers. (more…)
February 22nd, 2009 by editor
Honesty is still the best policy, apparently, even in these trying times.
If you’re thinking of being thrifty with the truth when filing for your auto insurance claims, motor insurer AA warns that you might be liable for some hefty punishment that’s bound to make you’re life harder than it already is.
Failing to admit to previous claims or convictions is insurance fraud, the AA said, and will result in insurance being voided if the cover-up is discovered. “Not telling the whole truth amounts to fraud and can result in your cover being voided, possible prosecution and potentially thousands of pounds in costs, especially if there are injuries involved,” said Simon Douglas, AA Car Insurance director.
Read the complete story here.
You read it. Serious prosecution awaits those who try to make hocus pocus when filing for car insurance. We understand that you’re just trying to cut some corners and save a little more money, but really, these companies are serious with their money too, so when filing for your auto insurance, be straightforward, honest and truthful - no white lies - it’s better for you in the long run.
January 6th, 2009 by Jaren
That is a question many car buyers are asking from the very few left. The global car industry is in shambles and has resulted in the closure of many dealerships. Don’t worry, the warranty of your new car is still valid for the responsibility is taken over by the buyer should it be sold or the manufacturer if the dealer closes. You might get a longer drive than usual for your scheduled maintenance, just hope it doesn’t get farther. Along with very low numbers in terms of car sales, many brands and models are no longer being produced as the Big Three of US auto manufacturing bunch are all in trouble.
Low sales figures means less insurance purchases so you might have to shell out more cash for them. Many cannot even afford a car in today’s economic conditions but those who already have them are finding it harder to get by, let alone get insurance for those uncertain times.
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