Saturday, May 31, 2014

Luxury cars with low insurance rates?




Nathan Dra


I was wondering what types of luxury cars would have the lowest insurance rates? I would prefer either a sedan or coupe. So in the category of luxury sedan/coupe, what would be the lowest insurance rate? I don't care about the price of the car itself, I just want one that doesn't have me paying a bunch every month, non-stop.

My definition of low is around the neighborhood of $60, preferably lower obviously. If there is no such thing, then please tell me the closest to it. Thank you in advance.



Answer
The older the car - the cheaper the insurance
The less actual coverage you purchase - the cheaper insurance.

For a "luxury" car at $60 a month you are probably going to have to purchase a car from the mid-90s and purchase your state's minimum coverage = on top of that, hope you don't have any points on your driving record.

StephenW = based on your idea if I purchase a car that costs $50000 or $100,000 I will pay the same rate... SURE (NOT!!!)

if the guy's driving a $50000 car how much is he making a year?




nineteen t





Answer
A large portion of luxury cars are bought as a lease.
This could mean that he put nothing down and has very low payments.
Downside: In 2 years, he'll have nothing to his name
He'll either have to lease again, or do the right thing and buy a car.
Leasing a sure way to become poor fast.
Don't be jealous of anyone like that.
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