By July 14, 2007 0 Comments Read More →

Teens wanting to buy a new car should think about car insurance rates

Reader question:

I’m a seventeen year old guy thinking of buying a new car. What kind of car insurance premium rates should I expect?

Adam

Yikes.

Does that give you an idea? Teenagers often jump into buying a new car, looking only at the monthly payments without thinking of all the additional costs that you absolutely must afford if you are going to have the responsibility of your own new car. These responsibilities can include gasoline, tune ups, and oil changes, as well as various other things that a car might need. And maybe a couple of traffic tickets. But if you really want to know how much your car will cost you per month, you have to factor these things into your budget.

And teen car insurance is really something that must be factored into your budget. Especially if you want to get a car that you like. Like that Mustang. Actually, you probably shouldn’t get that unless you want to pay five thousand dollars on your car insurance premium. Instead go for a cheaper, more practical car, mid sized with four doors instead of two.

Whatever you do, you’ll be paying a lot on your teen auto insurance premium. Some of the ways that you can soften the blow are by getting onto insurance with your parents and getting discounts like a good student discount. If you join insurance with your parents, though, you are avoiding building an insurance history in your own name, and while this isn’t as important as credit history, it’s still pretty important.

Cheers,

Fashun Guadarrama.

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