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Nov 22, 2023 · Car insurance for a used car. According to Car Gurus, a fair deal on a 2010 Honda Civic is only $10,000. At half the price of a new Civic, your insurance company will reward you with a cheaper car insurance premium. Often, you can buy a quality older car for the same price as a brand new, budget car, but you need to understand what you’re ...
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Dec 7, 2022 · New vs. used cars: Nine factors to consider. 1. Price and depreciation. If budget is your biggest concern, you’re better off looking at pre-owned cars. They’re significantly cheaper than the ...
Oct 25, 2024 · New cars are more costly to replace and repair, so they are almost always (classics and exotics being the exception) more expensive to insure than a used vehicle. We ran the numbers and found that an Allstate-insured 2023 ($3,549) vehicle was 65% more expensive than a 2014 ($2,148) model of the same vehicle.
Feb 5, 2021 · For the most part, though, a new car is going to be more expensive to insure, just because it is worth more right now. Damage or theft means a heftier replacement cost for most new cars. Put it this way. If your used clunker gets stolen, the insurance company might only have to pay you back $4,000. If your brand new car gets taken off your ...
If you come across an interest rate of 1% or even 0% for an auto loan, you may run the numbers and find that buying a new car with a lower interest rate will lose you less money in the long run. This is because a used car might come with a lower price tag, but to finance it may require a loan with a higher interest rate.
Generally, new cars have a higher replacement cost value, which adds to the cost of insurance. A new car might have a replacement cost value of $30,000, for example, whereas a used car might only be worth a fraction of that value.
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May 12, 2021 · At the other end of the scale, a brand-new, entry-level model might cost the same or even less than a higher-end used vehicle, and it’ll have a warranty. If you’re shopping used, a certified pre-owned (CPO) vehicle from a dealer likely will cost more than a regular used car, but might be worth it to you for the extra peace of mind.
