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Industry experts say fall is a great time for car buyers

October 2, 2014

If you count yourself among the Americans looking to purchase a vehicle for the first time this year, now may be the right time to strike.

Whether you're looking for new or used, AutoTrader.com outlined why fall may be the perfect season for buying.

Car buyers should keep insurance in mind this fall.

“Fall is generally when new models start hitting local dealerships, and as the new 2015 vehicles start arriving on dealer lots, more incentives are offered on the 2014 vehicles to make room,” Brian Moody, AutoTrader.com site editor, said in a recent press release. “While this is a fairly well-known and well-advertised event, what many car shoppers don't realize that this is also a great time for savings on some certified pre-owned used cars as well. As more 2014 vehicles start entering the CPO market, it puts price pressure on the older models and can give consumers a good opportunity to negotiate. Particularly if the 2014 models were all-new or improved over the previous versions.”

Moody went on to say there are four key things first-time vehicle buyers should keep in mind before heading to the lot. These include setting a budget, prioritizing features you actually need, knowing your credit score and taking a thorough test drive to ensure the vehicle performs well on both highways and city streets.

Insurance just as important

One essential factor Moody left off his list is obtaining the right auto insurance. All 50 states require drivers to carry auto insurance, making it your first step before getting behind the wheel.

In addition to not meeting legal requirements, uninsured motorists also leave themselves open to exorbitant costs. Data from the Insurance Research Council's Auto Injury Insurance Claims Study showed expenses associated with crashes grew 8 percent between 2007 and 2012.

Additionally, the U.S. Department of Transportation's National Highway Traffic Safety Administration recently released a studying showing the cost of car crashes in America come to $77 billion in economic costs, translating to $900 per each person living in the U.S.

SelectQuote makes it easy for all vehicle buyers to obtain the insurance they need, allowing them to comparison shop and receive real-time, accurate quotes simultaneously from 12 A-rated insurance carriers. This makes it simpler for drivers to find the coverage that suits their needs.

Whether car buyers are entering the market for the first time this fall or upgrading to a new vehicle, insurance should be at the front of their minds.