As car purchases increase, vehicle history reporting company plans to double revenue in 2021

Used auto reporting company on track to double revenue as demand for cars increases. (iStock)

Drivers are increasingly interested in car history reports – which can help them spot mechanical issues, allow them to view performance records and also crash history – amid an increase in vehicle demand, new data suggest.

The carVertical car history reporting platform has announced that it plans to double its turnover from 2020 while extending over several continents. This is an auto search and buy website CarGurus Reports that used vehicle prices have increased by 17% so far in 2021.

If you’re in the market for a car and want to see how much you can save, consider lowering the cost of your auto insurance. Visit Credible to compare multiple vendors at once and choose the one that suits you best.

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Demand for cars remains high

The rise in car prices is due, in part, to to a shortage of semiconductor chips prevent automakers from creating enough new vehicles to meet growing demand. Used car market auto dealers are also seeing increased activity due to repressed demand from the coronavirus pandemic and increased cash flow from government stimulus checks.

Some buyers, however, saw relief at the end of the summer. Used car prices fell in August – the first time in seven months, down 1.4% from the previous month, according to the Ministry of Labor.

Other ways to lower your auto costs include changing auto insurance. In the auto insurance industry, loyalty doesn’t often pay off. Visit Credible to compare multiple lenders and see which one has the best monthly premiums for you.

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How to reduce your auto costs

There are several ways to ensure that car buyers can cut costs when purchasing a vehicle in an environment of chip shortages and high demand. As car prices rise and demand remains strong, here are some tips for cutting costs:

Consider the new in relation to the occasion

Car sales and prices continue to increase for all types of vehicles. A new car is not only more expensive to start with, it also costs more to repair and maintain. Plus, auto insurance gets cheaper every year as the automobile ages.

Compare insurance companies

Auto insurance companies often give discounts for a variety of reasons. Some companies may offer better discounts for teenage drivers or young drivers with good discounts for students, while others may offer better rates for those with a longer driving history or discounts for good drivers. . Visit Credible to fill in your information once and see premium options from several companies.

Work on improving your credit

Better credit scores help car buyers lower their auto costs on several fronts. Drivers with good credit can get a lower interest rate on their car loan and lower their monthly payment. Credit scores are also factored into your auto insurance payment, so drivers with a higher score will have lower insurance premiums.

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If you are looking for ways to reduce your auto costs, contact Credible to speak to an auto insurance expert and get all your questions answered.

Have a finance-related question, but don’t know who to ask? Email the Credible Money Expert at [email protected] and your question could be answered by Credible in our Money Expert column.


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