Are used cars cheaper to insure than new cars?

Are used cars cheaper to insure than new cars?

A large part of the cost of car ownership is auto insurance. The high cost of car insurance is only one factor to consider when shopping for used cars versus new models. Are used cars cheaper to insure than new cars?

When it comes to car insurance, age is an important factor

Lots for used cars | Stephen Merrick / Construction Photography / Avalon / Getty Images

It is not cheap to buy a used or new car. You must add registration fees, taxes, monthly financing payments, fuel, and maintenance. Factor in the cost of insurance, and the investment is growing more.


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