At the Scott Family of Dealerships, we know that financial concerns are top of mind for most of our customers. That’s why we do our best to provide affordable pre-owned vehicles and financing at our dealership. But what about when it comes to insuring a used car? Here’s what you need to know.
Why Buy a Used Car?
Our dealership prides itself on offering a vast inventory of new and pre-owned vehicles for you to shop for in the Allentown, PA area. Shopping for a used car can be tricky sometimes, but our knowledgeable and helpful staff make the process as easy as possible.
When it comes to buying used, there are plenty of advantages—lower prices, less depreciation, and more variety. But another benefit is typically lower insurance premiums. Here’s why.
Insuring a Pre-Owned Car
It costs less to insure a used car because the value is typically lower than that of a brand-new vehicle. According to The Zebra, auto insurance rates drop by 3.4% every year your vehicle ages; this means an eight-year-old car is around 25% cheaper to insure than a brand-new one.
Regarding the type of coverage you need, this area doesn’t differ much from insuring a new car. Costs are typically lower, but they will vary depending on the kinds and amounts of coverage chosen.
There is an exception. When you get used car financing from Scott Lot, the finance company may dictate specific coverage as part of your loan terms. Your dealer will discuss this with you when you visit.
How to Insure Your Car
When you’re ready to buy a new car, you need proof of insurance before you can drive it off the lot. It’s a good idea to shop around for quotes before you finalize your used car purchase, so you don’t have any hiccups once you’re ready to take your vehicle home.
Do you have more questions on financing and insurance? Contact Scott Lot today!
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