Hi,

I am planning to buy another car. I need help in choosing insurence. Following are the details.

1) I have G Lic.since 2001
2) My wife, she got her G lic. this year. (she had G2 for @ 6 years)
3) For my existing car I am the principle driver and she is occasional since 2001
4) My existing car is @ 10 years old and have only third party ins.
5) Car, I am planning to buy is new (Vibe or Wave3)

Questions:
1) New car, should I buy on my name ?
2) Insurance: Should I keep me as principle driver? I don't know whether I can keep my name as principle driver for both cars. Does insurance company allow that?
3) Also, any good/bad experience for GM/Pontiac dealers in Scarorough area.
4) If GM goes bankrupt, what about the warranty.

Replies highly appreciated.

Jayant

Jayant is you are planning to buy a new car < i would strongly suggest you to explore Newmarket car dealers . It is just 45 Kms from Scarborough and you might be able to save a substantial amount .
Best of luck

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Growing Old Is Mandatory ..Growing UP is Optional

2) Insurance: Should I keep me as principle driver? I don't know whether I can keep my name as principle driver for both cars. Does insurance company allow that ?

My insurance co. does not allow that.

You can have both the cars in your name, however, the insurance company would treat you as a principal driver in only one car. I would suggest you to
call your insurance company and find out how the premium would change if you become the principal driver in your new car vs you remain principal driver in the old car. Since both of you would be principal drivers in each car, the insurance premium may change as per driving requirements of each of you. Your insurance company would run all the scenarios for you and then you can decide which way to go.


If you are Self employed or in a job where you can legitimately show CCA and the other expenses for the car used as expenses to earn your income, then you should buy the car in your name.

As far as buying a GM car is concerned, I personally would not go for the same. My choice would be any Japanese car, be it Mazda, Nissan, Toyota or Honda.

Good Luck.

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Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada