How Much Money Do You Have In Your Car?

Cleaning your car may not be top of your list of things to do but it may be worth a rethink of your priorities.

According to a survey conducted by Kwik Fit Insurance, some 44% of people found money when they cleaned out their car.

Hand with wrench. Car mechanic undertaking car repair.

Not surprisingly they also found jewellery, sweets and perfume, and some found some rather less appealing artefacts such as mouldy food and underwear!

So, if you’re worried about needing that extra bit of cash or with Christmas starting to loom closer starting to get concerned about your your finances, now might be the time to clean your car.

The survey revealed that, although women are twice as likely to give their car an affectionate name, they do not extend their love to maintenance!

In contrast, men are twice as likely to clean their car once a week and they are far more likely to lift the bonnet to make sure all is in order – something a number of the women surveyed admitted to never having lifted the bonnet of their beloved ‘Betsy’ (the most popular car name given by women).

The survey was conducted to mark the launch of the Kwik-Fit extended warranty product which is now available online.

Findings also included the fact that 70% of car owners do not have Warranty Cover in place despite 20% of all respondents stating that they spent over £600 in the last twelve months.

So what is Warranty Cover?

Basically it’s cover to protect yourself against unexpected and expensive car repair bills.

It’s worth considering whether your car is nearing the end of it’s manufacturers warranty or if you’re looking to buy an older second hand car.

According to Autoprotect the top ten most common failures each cost more than the price of a years warranty to repair. With the average repairs costing £265.

See the Kwik-Fit Insurance website for more information, exactly what cover is included and what’s excluded.

How Much does warranty cover cost?

As with many personal finance related products there are different providers offering warranty cover.

The cover available from Kwik-Fit Insurance costs £14.99 per month, over 11 months, and is the same price for any car under 10 years old.

Diane Ray, MoneyHighStreet.com comments: “As with any type of insurance cover, do make sure you understand what Warranty Cover is and exactly what you need for your car.

For example, if you have already bought a car which has a manufacturer’s or dealer’s warranty, you may want to buy an extended car warranty from a specialist provider to improve and extend the cover you have under your existing warranty.

Equally if you are buying a car, you may well be offered warranty cover by the garage or dealer. Before you opt for this, it may be worth taking time to do a bit of research to compare prices and see if you can get a better deal by buying from elsewhere.

Be aware that with a car warranty, you are invariably required to undertake services according to the manufacturer recommendations.

Finally, as you might imagine the cost of a car warranty varies according to a number of factors including the make, model and age of the car, as well as your own personal details.”

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