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It may be easy to find cheap car insurance but it is not always wise to buy on the basis of price. You want your cheap car insurance to be good value for money

Everything About Cheap Car Insurance

About Cheap Car Insurance Cheap car insurance for teens and young adults »

Finding cheap car insurance for teens and young adults is challenging but it can be done. Get car insurance quotes from as many insurers as possible

Finding Specialty Cheap Car Insurance »

Look for an insurer specializing in specialty cars. Although you will occasionally find cheap car insurance from large insurers, small companies usually offer the lowest car insurance rates

Finding cheap car insurance for family cars »

When buying a new or replacement vehicle for your family, here are a few ideas on how to find affordable if not cheap car insurance. Buy safety for the lowest car insurance quotes

Cheap car insurance when you buy on credit »

If you decide to buy on credit rather than lease, can you find cheap car insurance? If not, what can you do to find lower car insurance rates?

 

Cheap car insurance when you buy on credit

Buying on credit or leasing?

If you are thinking about a new car, this is more than decisions on the make and model, the color and performance. You also need to decide whether to lease or buy. It is actually more cost-effective to lease. The monthly payments are lower than when buying because you are only paying for the wear and tear on the vehicle and not for ownership. Equally important is the fact you can trade in a leased vehicle for a new one at the end of the term, but you are left with an old car when the auto loan is paid off.

Interest and costs

The monthly payments are higher for buying because it costs more to own a vehicle. So the interest and credit fees are higher, with your money tied up for longer periods of time. But, if you lease, there are often limits on the mileage with penalty charges if you go further than allowed and you are required to maintain the vehicle on a regular basis to keep it in top condition. As the owner, you decide how far you want to drive every year and when to spend money on maintenance.

Credit rating

It requires a better credit score to lease whereas, if you have enough for a good down payment, it is easier to buy on credit.

Termination

If you want to return a leased vehicle early, there are usually high charges but, if you have an auto loan, you can sell the vehicle and use that money to pay off whatever is left on the loan.

Insurance

In both lease and purchase agreements, there is almost always a condition you buy both collision and comprehensive cover. In this, there is no difference in the cost. No matter whether buying or leasing, the insurance must reflect the fair market value of the vehicle in your hands. If you want cheap car insurance, you must follow the same guidelines as in other situations. The rates for liability and collision cover depend mainly on your personal profile as a driver. So the rates will be higher if you are young or are considered high risk. The rate for comprehensive cover is based on the make and model, so if you have picked something with a good safety score and it is not often stolen, the car insurance rate will be low. If you buy on credit, consider buying gap insurance.

 

Cheap car insurance — how to find affordable coverage »

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In a recent survey using a standardized profile in all the states of the union, the car insurance rates for the same driver were found to differ by more than $1,000. This is not just a simple matter of insurers having different models for estimating risk. It reflects a real difference between states and the conditions on the roads. Ignoring local differences, here are some simple tips for finding discounts and thereby buying cheap car insurance.

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Cheap car insurance starts with make and model »

So look up the results of the crash tests run by the Insurance Institute for Highway Safety. Check out the performance of the makes and models you are interested in buying. As you might expect, the safest vehicles tend to have the cheap car insurance rates. However that is not the end of the story. If you are proposing to buy comprehensive cover, look carefully at the statistics of vehicle thefts. The number of cars stolen varies quite significantly depending on where you live‚ remembering the ZIP code is a big factor in deciding the rate you will pay.

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