TUESDAY, APRIL 2, 2013
Here is an interesting scenario, you are in need of a new car. You visit your favorite dealer where you are looking for a nice simple car, but you spot a shiny "fun" car...
Thus begins the internal debate:
- The voice on your left shoulder says, "Go for it."
- The voice on your right shoulder says, "Hold it, in addition to the big sticker price you had better check how much this baby is going to cost to insure."
Hopefully the right shoulder wins because some cars can cost up to 3 times more to insure than others.
Here is a little guide to consider if the left shoulder wins...
Many variables go into determining car insurance premiums. Chief among them is your personal driving habits, as well as the type of vehicle you are driving. We are assuming you are a safe driver with a clean record, so let's focus on the type of car you are purchasing.
Typically speaking, the more expensive and "sporty" a vehicle is, the more it will cost to insure. Generally, Mercedes, Porsches, Jaguars, and some BMWs are the most expensive cars to insure for us mere mortals. However, if you are one that can afford to purchase luxury Italian or British cars, your insurance costs will probably exceed the cost to buy some average vehicles.
Again, in general terms, the less expensive and the less performance of a car, the less the insurance will cost. Cars like the Ford Edge, Chevy Express, Hyundai Tucson, and most mini-vans are the least expensive cars to insure.
Hopefully this information will help you when you open the door to the dealer and start hearing those little voices...