THE NEW WAY OF BUYING A CAR!
Some of you may be familiar with the new trend of purchasing a car ONLINE! That’s right, we can now order a car directly on line and pick it up at a designated center. A company operating out of Arizona called, Carvana.com allows you to view, order, pay for and even finance the purchase all on line. HOWEVER……..before you rush on out to take advantage of this new opportunity, Let us remind all you Massachusetts residents of how our state works.
Massachusetts vs. The Rest of The World
For decades, an organization AIB (Automobile Insurers Bureau) has written a personal auto policy specifically for our state. Prior to the current competitive market all carriers were required to use the MAP (Massachusetts Automobile Policy) as written by AIB. In today’s competitive market a carrier doesn’t have to use this policy, but old habits die hard and most insurance companies writing auto in Massachusetts still use the MAP.
What does this mean?
In a nut shell, without getting into the nitty gritty of the complicated explanation of how our auto policy in Massachusetts and RMV work. It may mean that you will have no coverage for this transaction. Carvana requires confirmation of coverage before they can complete the transaction and the Insurance Company needs the transaction completed before they will provide the coverage!
Is there a way around this situation?
Possibly, but you want to find out before you start the process. Make sure to review the situation with your agent before entering any contract of purchase. We will help you navigate through.