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How Craigslist cars can help you reduce your current insurance rates

Learn how to lower your monthly insurance premiums not by switching car insurance companies but by switching the vehicle that you drive.

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One common complaint amongst car owners is the fact that insurance premiums can often be outrageous. There are numerous factors that determine exactly how much one will pay for auto insurance. Among these factors is an individualís driving record, the age of the driver, and the type of vehicle that will be driven. While you cannot do anything about your driving record or your age, you can reduce your monthly car insurance premiums by purchasing a used Craigslist car. You may be asking yourself how can I reduce my car payments by simply owning a used car. The answer to this question is fairly simple. Car insurance companies base their rates on a number of factors including the type of vehicles that we drive. The more it costs to replace a vehicle and the higher risk that an individual is, the higher the insurance premiums. Likewise, with a vehicle with a lower replacement cost and an individual who is lower risk, the driver should expect to pay less in monthly premiums.

When it comes to buying a used car, there are many places that you can find a used car including local car dealers and individual sellers. Individual sellers may list their vehicles in the local newspaper or more commonly on the Internet on websites such as Autotrader or Craigslist. By purchasing a used car, you can save even more money in addition to what you will be saving in insurance premiums. Take a look through Craigslist cars, cars on Autotrader, and automobiles in your local newspaper. What you are going to find is cars that are much less expensive than what you'll find elsewhere. One reason for this is because retail sellers offer additional perks such as warranties and they also have to cover overhead costs which can be quite substantial. So substantial, this is one of the main reasons why many dealers go out of business. Between monthly rent costs and insurance costs, dealers have to walk a fine line in order to make a profit.

Before you set your eyes on a vehicle and purchase it, make sure that you understand how much the vehicle will cost to insure. Finding out this information can be done by calling your insurance company and telling them the year, make, model, and engine size of the vehicle that you are interested in purchasing. Once they give you a monthly insurance quote you should compare this to your current insurance rates in order to determine whether or not it is something that you will want to pursue. It is a good idea to check out the insurance cost of several cars before making a decision. One great way that you can really save on car insurance is to free yourself from full coverage. Full coverage covers the replacement cost of your vehicle in the event that you have an accident that is your fault. While this is a nice feature that can come in handy one day, it will often cost you more money than it is worth, especially if you're driving an older vehicle.

How do you determine the right time to drop your full coverage? Some say that if the additional yearly premiums for collision plus any deductible exceeds one third of the cars value then you should drop the coverage. Others say any vehicle that is over eight years old should carry liability only insurance. While there is no correct answer to this question, one should drop their coverage when they feel confident that they are able to pay the replacement cost of a vehicle if it is totaled. One should also feel confident in their driving abilities. Those who are accident prone may want to hang onto that additional coverageScience Articles, even if it costs a bit extra each month.

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