Questions and Answers
Your Questions About Cheap Monthly Car Insurance Payments
What will the cheapest car insurance cost for a 16 year old in zip code 54703 with a 3.0 gpa. How much? What p
What will the cheapest car insurance cost for a 16 year old in zip code 54703 with a 3.0 gpa. How much? What provider?
To many variables
* – What kind of car
* – Specific areas are different
* – Are you going to be on your own policy or on your parents
* – 1 year or 6 month policy
* – type of payment – full upfront, monthly, bi-monthly, etc…
* – Full or liability coverage
* – Credit hidtory
* – Multi car
GPA is not a factor anymore
Male/Female for most companies doesn’t matter anymore
6 month policy $1000-$1200 minimum I bet
I want to switch car insurances, if I leave my policy early, am I responsible for the remaining balance?
I am 5 months away from the end of my current car insurance policy’s expiration. I found a MUCH cheaper rate with another insurance company. If I switch companies, would I still owe the rest of my current policy, or do they cancel the insurance and that’s that?
I’m paying monthly….
THe answer lies in your contract. (the policy)
If you financed the insurance with monthly payments, you may be liable for a cancellation fee. But if you pay ‘in advance’ you may be entitled to a refund.
Check the policy, learn the results, and then you wil have the information you need to act.
I just bought a car 2 months ago but now I want to sell it, is it possible to do this & buy something cheaper?
I bought a used car (2005 Jeep Liberty) excellent condition. I really like it but realistically I can’t afford the monthly payments. Is it possible to trade it in at a dealership and get something cheaper or will the fact that I still owe $15,000 on it make it impossible to come out with a cheaper monthly payment? I mean will the car dealership pay off the loan I have and give me a smaller loan toward another car or will they just tack the 2 loans together? Any help is appreciated!
There are only a few options avalable to you.
But before we go there, i ask you this. Did you put enough down or were there enough rebates to get you into an equity position? Did you buy an extended service plan or gap insurance?(these items are cancellable and the money will come off the principal loan value) if you answer yas to iether you can trade down. However if the answer is no. Then you still can trade out and go into a lease or a ballon loan also called smart buy(GMAC) or purchase opption finance plan. With most manufacturers you can do the ballon loan and offset your neg equity. If there is any. The ballon loan is the safest form of finanace out there because you have 5 real opptions.
1. You can sell the car at any point(ussualy close to the end to make any sence) and make a profit.
2. Trade the car in (even early) most banks that have this opption will call on you 9-6 months before your term is up to trade for a new one and waive your remaining payments.
3. Pay the remaining balance or”baloon balance”
4. Guaranteed refinance rate of the baloon balance
5. Hand over the keys and walk away (mileage limmitation penalty if you go over)
but remember they will still have to absorb any neg equity and if you are in the position thry to pay most or at leaste some of it
hope that helped good luck
p.s. Most people even other finance managers dont know how to do it so you need to find someone creative and basicly smart enough.
Shop the dealers, you will usually find 1 or 2 that can help.
Again , good luck
alot off people are trying to say sell it yourself. If you do you will have to deal with the chase and wait time for the customers and ussualy the need time for the money etc. Its a long prossess and although it can work it rearly does. Listen to the people that actually work withthis stuff and ignore everyone else.
How much is your monthly car note and how much is your insurance? How many months do you have to pay it off?
What do you drive and do you feel its worth it? I pay $271 on my note. My insurance is $138. I had 42 months on it. I drive a 2005 chevy cobalt. So far I guess it is worth it. Driving is very expensive.
I don’t have any car payments and never had one! Buy it all in cash i paid my 2000 cavalier for 3,600 4 yrs ago with 90,000 miles and he wanted 4,600 for it! Now it got 153,000 miles still runs good and ins is not full coverage i pay 200 every 6 months so its a real nice cheap cost to own car i have more $$ for retirement!! Plan on going till the engine blows or the trans!
How much do you pay each month for bills?
Monthly I pay about $1500 not including gas or groceries. I have $350 loan and CC debt (thats min. payments), $600 rent & utilities, $100 cell phone bill and $450 car payment & insurance. I’m 22, live with a roommate in an apartment, have a brand new car. I make about $1760 pre-tax. It just seems like I have way to many bills!
I am 22 as well and take it from another young person, you need to cut your lifestyle! You have got more going out than coming in!
My wife and I pay $1,000 a month mortgage, no credit cards, no car payments, no student loans, $50 cell phone bill, $600 a month tithe, $250 other utilites, $350 food, $300 gas and car insurance, and about $200 misc. That’s about $2,700 to $2,800 a month and we make about $7,000 a month pretax. I know we make pretty good money but, it really is amazing what you can do when you don’t have debt payments!
Sell the car and buy a cheaper one (preferably with cash). Get those credit cards and other debt paid off quick! Drop that cell phone plan.
You work too hard for your money to let it control you. Get intense and get rid of these payments!
Hope this helps!
What is the cheapest insurance company for a 17 year old male, fully comp on a 1-1.2L vehicle?
Looking around for cars and I want to know where is the cheapest, so far it is £3800 cheapest anywhere. If you have insured a car at that age can you let me know what you paid and who with?
Tips on getting it lower?
There are no secret tips ot trick that you can legally do other than choosing a higher excess but make sure that you can afford to pay that excess if there is a claim.
There are many factors which are used by the insurer to calculate the risk and so the premium they charge for car insurance – these are mainly;
1 Age and sex of the policyholder (who must be the Main driver, and registered keeper) and that of any additional drivers.
2. The cars age, mileage, value, insurance group, security and the companies own claims history for that vehicle
3. The occupation of the policyholder and any named drivers
4. The claims history of any drivers
5. The licence details of drivers (endorsements, length of time held)
6. Where the car is normally kept overnight (is it the policyholders address? On road is more expensive than on a drive which is more expensive than in a locked garage.
7. What use will the car be insured for, social and domestic is the minimum but if commuting and use for the policyholders business or their employers business is added the price increases. If used to commute where is the car to be parked when there – on road or in a car park.
8. Does the car have any modifications from the standard factory fresh condition like alloy wheels or performance enhancements – some insurers will refuse to cover modified cars, some will increase the price and some will cover them but only for return to standard.
You need to tell the full truth about everything asked and inform them of any changes to any of the details disclosed as the policy goes on – failing to do that can render it null and void.
Some younger drivers consider putting the car and insurance in a parents name with the parent as a fraudulent main driver and them as an occasional named driver to cut the premiums. This common scam is called “Fronting” and is an illegal act which can get parent and son/daughter into a lot of long lasting expensive troubles.
Most insurers offer a monthly payment scheme and most need about 15% up front to start the cover. The scheme is usually in the form of a loan and so interest is charged – this can be as much as 25% APR. This is usually at rate which is higher than most credit cards even charge so look at other ways to borrow the money to spread the cost if possible as it will be cheaper.
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