| Many people purchased used cars because they don't | | | | which is a significant portion of the loan. Consider |
| want to experience the immediate 10-20 percent | | | | whether the value of your car is more than the cost |
| depreciation that occurs the second that a new car | | | | of paying this insurance. Sometimes it is, but often it |
| leaves the auto sales lot. Often, these people are | | | | isn't, and dropping collision coverage can save you a lot |
| hoping to cut costs in insuring the car as well, to make | | | | of money. |
| it more affordable and useful. They look for a cheap | | | | Another valuable way to save money is to consider |
| used car insurance agent. | | | | the cost of property and bodily damage liability. Some |
| Just how difficult is it, however, to find an agent that | | | | agents try to sell very high limits for these types of |
| will sell affordable insurance for used cars? | | | | insurance, and often are successful in doing so. |
| Sometimes, this can be a difficult task. Usually, agents | | | | Consider the likelihood that you will actually encounter a |
| don't advertise in the yellow pages that they offer the | | | | $1 million dollar lawsuit for damaging someone's store |
| least expensive insurance available. | | | | or home accidentally with your car before you actually |
| Searching online often allows people to evaluate | | | | purchase this much liability. |
| multiple insurance company quotes through a single | | | | Comprehensive deductibles also can cost, or save you |
| search engine. This can be very helpful and convenient, | | | | money. If the car is very old, and repairing it would cost |
| particularly if the person knows exactly for what they | | | | more than it is worth, reconsidering paying high |
| are searching. Insuring a used car can be very | | | | premiums for comprehensive coverage. For example, |
| different from insuring a new car. | | | | if your car is only worth $500, having a deductible of |
| For example, many lenders require car owners to | | | | this same limit would be of no benefit. |
| purchase collision insurance, so that the loan amount is | | | | Compare the expense of insuring your car through a |
| covered, or nearly covered, in the event that the car is | | | | familiar company with the relatively small risk of finding |
| damaged beyond repair. The amount of the collision | | | | a cheap used car insurance agent. Search online for a |
| coverage may vary from loan to loan. | | | | policy that offers you the most affordable insurance |
| Sometimes, however, if you have bought an | | | | for the car you are driving. Avoid paying more for |
| inexpensive used car, you may not have to take out a | | | | insurance than your car is worth. |
| loan. This would help to avoid paying collision insurance, | | | | |