When buying a new car, there are a number of costs to consider besides the sticker price. Fees, registration, and insurance premiums add up, and too often aren’t considered when determining a budget for that new car. Car insurance in particular is calculated based on a number of factors, and a little research in advance can save you from being blindsided by unexpected costs.
Safety is key. If the vehicle you are looking at has poor safety ratings or lacks safety equipment, your insurance provider is likely to hike your rates. Choose a car with top safety ratings and advanced safety equipment for the lowest rates.
The type of vehicle matters. Shopping for a sports car? Prepare for higher insurance rates. The more risky the vehicle, the higher your monthly costs will be.
Vehicle history weighs in. If you’re buying used, be sure to research the car’s history. Previous accidents or unreliability will cost you in increased insurance rates.
Be sure to consider all factors before stretching your budget for a new car. Car insurance hidden costs can end up digging further into your wallet than you expected if you don’t do your research before buying your next car.
Learn more about car insurance rates at dmv.org.
Here at El Dorado Mazda, we want to make you next car-buying experience as simple as possible. Stop by today to check out our lineup of reliable and fun-to-drive vehicles!