Financing a car with insurance?

Question

I live in NJ so car insurance is expensive enough. I wanted to finance a used car, i would put down around $2500 and finance the other $7500. But when you finance a car you need collision insurance. Is it cheaper with a used car? I don't think i can afford both!

Answer 1

Insurance has several factors as per cost such as your driving record along with type of vehicle you choose, example a Mustang or Camero likely would cost twice as much compared to a Focus or Cavalier, you don't make a final decision till you have gotten quotes, go to this link on my website to pick up a few pointers to help you along. http://www.usedcartips.org/INS.html

As for financing the minium amount is $ 7500. anything less it becomes a personal loan, do some homework on my website and you will get valid value for your bucks, good luck

Answer 2

Here is the problem financing a used car. If you cannot get low interest rate or leingth of contract of a new car. Be very carefull You could end up very close to a new car price and payment. And for 3,000 more you could be driving a New Nissan Versa on a 5 or 6 year loan. Getting 36 miles a gallon will go a long way helping you pay insurance. Check new cars out too. Good Luck Another problem with a used car you do not know the care and oil changes. What if it broke down year #2 while your still paying? New Nissan would be warrantied.

Answer 3

Compare free quotes from dif companies at QUOTESTOINSURE.INFO-

RE Financing a car with insurance?

I live in NJ so car insurance is expensive enough. I wanted to finance a used car, i would put down around $2500 and finance the other $7500. But when you finance a car you need collision insurance. Is it cheaper with a used car? I don't think i can afford both!

Answer 4

At http://help.cheap-insure.info you can get quotes in just a few minutes

RE Financing a car with insurance?

I live in NJ so car insurance is expensive enough. I wanted to finance a used car, i would put down around $2500 and finance the other $7500. But when you finance a car you need ...show more

Answer 5

If you finance a car, the lender will specify a minimum coverage you are required to keep on the car. Collision coverage is a portion of that. The car is the collateral for the loan, and the bank wants to be assured the car can be repaired if damaged.

The price you'll pay for insurance varies, so when you find the car you want, check with your agent before you buy it and ask for a quote on that specific car.

Answer 6

The cost of insurance is based on a lot of factors, such as driving record, credit score, how much it cost to repair the vehicle, etc. It doesn't matter if it is new or used. Check with your agent on expected insurance payments for a certain vehicle.

Keep in mind if you don't owe on a vehicle and only have liability and have a wreck, your car is not covered for repairs. You would be responsible for getting your car repaired.

Answer 7

For free insurance quotes

Answer 8

Shop around for quotes with other companies to see if you can get a better deal elsewhere, you can compare quotes here: http://WWW.QUOTEQUOTING.NET

RE:Financing a car with insurance?

Answer 9

right here in Ohio you ought to hold finished assurance assurance on a financed vehicle. If the lender reveals out the assurance has been dropped & you won't be in a position to teach assurance they gets assurance on the vehicle themselves & upload the greater fees to the vehicle fee you ought to pay. often the assurance organisation is conscious the vehicle is financed & will touch the lender if assurance is dropped. they gained't look for decrease fee insuance assurance the two.

Answer 10

All things being equal collision is cheaper on cars that are worth less.