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Does a used car cost less to insure than a new car?

Updated: 8/16/2019
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16y ago

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Assuming the same vehicle model, driving habits, etc., the answer is nearly always yes for the simple reason that used car is worth less than a new car. Some parts of the overall bill will normally be the same (e.g. uninsured-motorist coverage) because they're independent of the car itself, but a component such as collision damage will almost always decrease with the age of the car.

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16y ago
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