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Mom Confessions Mom Confessions

Which is more expensive?

Anonymous
Posted by Anonymous
  • 36 Replies

 Is it more expensive to insure a new car or an old car? When I was sold my car, the car dealer told me that the rate would go down because it's a newer car. However, these quotes are telling me differently. I had two cars on my policy (which I ended up losing both of them on the same exact day) and then got a quote for my new car. This car is more expensive than both of those cars combined! Does this seem right? I just don't know if I'm doing something wrong or if the car dealer was lying to me.

Posted by Anonymous on Feb. 26, 2014 at 8:11 PM
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Replies (1-10):
ColieO
by Ruby Member on Feb. 26, 2014 at 8:11 PM
It depends on the type of car.
peanutsmommy1
by Ruby Member on Feb. 26, 2014 at 8:12 PM
The higher the value of the car, the higher the insurance
Anonymous
by Anonymous 2 on Feb. 26, 2014 at 8:12 PM
It goes up, because you have to carry collision on a new car.
mom2gmp2
by Gold Member on Feb. 26, 2014 at 8:12 PM
You might have been getting a multicar discount that you no longer get.
Anonymous
by Anonymous 1 - Original Poster on Feb. 26, 2014 at 8:13 PM

 That's what I thought... thanks.

Quoting peanutsmommy1: The higher the value of the car, the higher the insurance

 

Anonymous
by Anonymous 1 - Original Poster on Feb. 26, 2014 at 8:14 PM

 It's not brand new, just newer.

Quoting Anonymous: It goes up, because you have to carry collision on a new car.

 

Anonymous
by Anonymous 3 on Feb. 26, 2014 at 8:14 PM


Quoting Anonymous: It goes up, because you have to carry collision on a new car.

I thought you only had to carry collision on a financed car?

smorgan865
by Ruby Member on Feb. 26, 2014 at 8:14 PM

There are many variables, but most of the time it's more expensive to insure a new car. 

Anonymous
by Anonymous 4 on Feb. 26, 2014 at 8:14 PM
The higher the value the higher the ins plus you have to have full coverage until its paid off.
KariC33
by Platinum Member on Feb. 26, 2014 at 8:16 PM
This

Quoting peanutsmommy1: The higher the value of the car, the higher the insurance
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