Buying a car can be a pretty stressful experience. There are so many considerations: the gas mileage, how affordable it is, the number of passengers it will seat, whether you will qualify for the loan, what it looks like, etc. But there is one cost-affecting factor that most car purchasers overlook: the price of the insurance.
Everyone knows that the cost of insurance rises if the driver has a bad driving record. What many people don’t know is that the cost of insurance also depends on the type of vehicle that is being covered. How much it will cost to insure a new car largely depends on the car itself.
The make and model of your vehicle can seriously impact your insurance costs. According to some sources, the Honda Odyssey LX is the most affordable car to insure. A Ford F-150 pickup is a few hundred more, and a Mercedes E400 is about double. A Dodge Viper, though, is a whopping four times as much!
If you are in the market for a new vehicle – whether it is a new or used car – it would be wise to check out insurance costs before making a final purchase. While you may be saving in the short term by buying a more affordable vehicle, if it costs more to insure, you may lose out in the long run.
At Fuller & Fuller, Accident and Injury Attorneys, we are dedicated to bringing you useful information that will help you stay safe on the roads.