Cheap Monthly Car Insurance

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Your Questions About Cheap Car Insurance Pay Monthly

May 20, 2013

Donald asks…

Is it better to trade in car or return it to the dealer?

My friend wants to turn in her car because she can not make the monthly payments. She has been paying late the last few months. It’s not hers but her spouse who want pay the monthly bill and it is in her name. The bill is a little over 400 plus 200 and something for insurance. She wants to just return it to the dealer even though it will hurt her credit because she can not afford to keep paying. Her daughter is in college and goes to school a couple hours away and she has been promising her a car for a few years. She plans to still get her daughter a car next month. I wanted to suggest to her not to return her spouse car but trade it in and get her daughter a cheaper car since it will hurt her credit both ways. I was thinking since she has to get her one anyway. Which way is cheaper?

Administrator answers:

You can’t return it back to the dealer, they don’t own it and could care less about the car. The loan company is the one who can/will repo the car. You will have to sell, trade in or deal with the lender, not the car dealer.

Susan asks…

Can you freeze car insurance for some months of the year?

I am college student who is going to school in Boston where public transportation is readily available. I wanted to get on my parents’ car insurance plan, as I don’t currently own a vehicle, but most plans require you to pay monthly to have the car insured. Since I’d only need to use the car during three and a half months of the year(summer) it seemed kind of wasteful money-wise to pay each month to drive an insured vehicle. Is there such a plan in existence? Just wondering.

Administrator answers:

It depends on the company and state laws.
If you are leaving your car sitting for long periods of time, you can get coverage for an inactive vehicle – comprehensive only, which is generally much cheaper than carrying liability.
Not all companies offer this coverage and the state may require that you suspend your registration in some way during the inactive periods.
Be aware that you have to re-activate your coverage before you drive!

Mandy asks…

How much would car insurance be for a new driver and a crappy car?

I got my liscense 2 months ago and have been saving for a cheap car on Craigslist; around $1500. I need to know how much I would have to pay annually for car insurance for like a mid-90′s, 150K miles Nissan/Volvo.

Administrator answers:

My son is 18, just now got his license. Bought a 98 Volvo with 170k off Craigslist. He got strict liability 30/60/25 in Texas. $92 monthly with defensive class and good grade discounts.

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