The high cost of insuring a vehicle is only one factor to consider when shopping for used cars versus new models. So, are used cars cheaper to insure than new cars? When it comes to car insurance, age is a factorA used car lot | Steven Miric/Construction Photography/Avalon/Getty ImagesIt isn’t cheap to buy a used or a new car. Minimum coverage insurance now averages $545 per year.”Multiple factors influence the cost of car insurance. In addition, younger cars have cheaper and more easily accessible parts, making the car cheaper to insure.

Source: Forbes September 18, 2022 03:40 UTC