Insurance For New Cars Versus Used Cars

70 NEWS JAPAN - When you are shopping for a new or used car, cost is sure to factor in as you weigh your options. You've likely budgeted a specific amount for the purchase, and you want to get the best value for your money.

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When you're considering whether to purchase either a new or used vehicle, you may also want to think about the cost of car insurance. The age of the car you are purchasing can have a real impact on the auto insurance rates you'll end up paying.

Intuitively, you might expect that new cars would be more expensive to insure, as they have high market value and can be pricier to repair in the event of an accident.

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While the relationship between a newer, more expensive car and higher insurance rates holds true in many cases, certain factors drive down new car insurance rates.