Get Cheaper Insurance When You Buy a New Car
If you’ve been waiting to get a new set of wheels, now may be the time to take the plunge. Dealers offer discounted prices in the fall to clear out last-year models on their lots in order to make room for the new ones. Many automakers also offer low-interest financing packages, cash-back rebates and other incentives to make last-year models even more attractive to prospective buyers. Since older models have lower sticker prices, you will also save money on your premium. If you are planning on buying a new car, obtain several auto insurance quotes to get competitive prices.
The latest model year of the vehicle you’re interested in buying is worth considerably more than older models and is more expensive to insure. Buying last year’s model might lower your auto insurance premiums as much as a few hundred dollars. Shop early to get the model you’re interested in buying. Since dealerships have few older cars in their inventory, you may have to call around to find the one you want. Apply for auto insurance quotes to get the best coverage for your family at the lowest price. Here are three factors to considered when buying an older model:
Length of ownership
If you think you will trade in your car for a new model in a few years, you may not save that much money buying last year’s model. As soon as you drive your new vehicle off of the dealer’s lot, your car’s value depreciates and it will continue to fall significantly for the first two or three years. However, if you plan to hold on to your car for more than five years, then the difference of a year between cars in similar condition and mileage will usually be less than $1,000. In most instances, you will have saved more than that amount opting to buy the older model rather than the latest one. Apply for auto insurance quotes to get the lowest rates.
If you plan to put a lot of miles on your vehicle, you’ll want the newest model you can afford. When you go to sell your car, you will have a high-mileage vehicle. To compete with cars with fewer miles, you will need to emphasize your vehicle’s newer model year. On the other hand, if you drive few miles, then you may be able to get a low-mileage discount on your insurance.
If you’re concerned about protecting your family while you drive, you will be able to find more information on older models. Sometimes manufacturers have to recall vehicles later on for safety issues. Insurance companies want to insure cars with records requiring fewer and less costly claims. Check the National Highway Traffic Safety Administration tests for safer cars and the National Insurance Crime Bureau’s most-stolen list for vehicles thieves target. Always ask for discounts, when you apply for auto insurance quotes.
When you are ready to buy a new car policy, you can call agents in your local area, contact insurance companies directly or use InsuranceQuotes.com to instantly get competitive auto insurance quotes from the nation’s leading insurance providers. Simply fill out an online form on InsuranceQuotes.com to find the right insurance coverage at the best possible price. Take the time to protect you and your family today.