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Insurance rates of a new leased car vs. a used car?
I am looking for a car to drive, and it's my first car. I am wondering what the difference in insurance costs would be between: a) A brand new leased car b) A fairly old used car I know it depends on the type of car, but lets go with a honda accord, because that's what I would buy/lease. Also, I am 16. Is it possible for my dad to "own" the lease but designate me as the driver of the car?
Public Comments
- If you lease you have to carry full coverage and $300,000 coverage per accident which costs a lot more where as you don't have to carry the $300,000 on a used vehicle, usually it's full coverage and $100,000 on a used one if you finance it, if you pay cash for the vehicle you can get away with just paying liability insurance if you so choose.
- It will depend from car model. You can easily compare quotes in internet, for example here: http://autoinsurance.hotusa.org
- Based upon others judgement will not get the wise decision.However,other's suggestion might be helpful.Here is a good resource for the question.http://car-insurance.online-tips.info/car-insurance-free.htm
