Are you thinking about purchasing a new car? Before you make the jump to buying either a brand new or a used car, know the differences in your auto insurance policies. You typically go through the same process, although a used car commonly has lower auto insurance rates and there may be a few key differences to understand when buying a used car.
Premium Rates
While generally a used car has lower premium rates, that is not always the case. Different companies offer different rates so you want to get a variety of quotes.
Coverage
If you decide to buy a new car and use a loan or a lease, watch out! Using either of these means you’ll probably have to pay for more coverage than a used car. This includes comprehension and liability coverage, which may or may not be defined in your loan or lease.
Preference
Lastly, whatever type of car you buy, whether used or brand new, is your own decision. Whether it’s a new car or used car, you’ll have to go through the finances and fit the monthly payments into your budget.
If you have further questions about the differences between a new car versus a used car and how that affects auto insurance rates, contact us and we can guide you through it. Whichever one you decide on, we’ll help you out with your auto insurance needs. We wish you luck in vehicle shopping and we hope to hear from you soon!
Rothenberger Insurance Services is a full-service insurance company that specializes in auto insurance, home insurance, life insurance and all commercial insurance services. We are located in West Reading PA and help many individuals and businesses in and around West Lawn PA, Wyomissing PA and Reading PA.
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