Cheap Monthly Car Insurance

Questions and Answers

Your Questions About Cheap Monthly Car Insurance Payments

March 14, 2013

Ruth asks…

What car insurance has a cheap pay by month program?

everywhere i have checked out its a six month program. i need a cheap pay by month. any one know of any?

Administrator answers:

I would recommend Progressive. They offer lots of discounts and easy monthly payments. I have them and they automatically take the premium out on the first of every month so I never have to worry about it. Works out pretty nice and very satisfied with them so far. Also, if you want to reduce your premiums make sure you are looking at your coverages closely. There’s a lot of add-ons that an agent or Progressive themselves may offer to you that aren’t necessary such as towing, rental reimbursement and comprehensive/collision.

Daniel asks…

How can you get into a home without any money down, bad credit and substancial debt?

I have been in and out of the hospital and am unable to work , my husband makes over $55,000 a year but we are a family of 5 crammed into a 2 bedroom apt. He has student loans and bad credit from divorce. He had a home from his previous marriage, but I have never been a home owner. The question is how can we get out of this hole we are in and start moving on with our life? Iwant to try to be in a home b4 my 3 yr old son starts school.. because the schools where I currently live are unsatisfactory. we currently pay $650 a month in rent .. which is more than most of my friends house payments so I am wondering how do I get started trying to improve our situation and get into a home .. with $1,000 in debt each month and no way to possibly save for a down payment of any kind. We have paid our rent every month, that is one thing we do make sure gets paid . have been in and out of the hospital and am unable to work , though we have not asked or have been receiving any assistance what so ever. My conditions include spinal bone growths, organ failure and chronic pain , which makes it difficult to just care for my son and my 2 step sons (which are all under the age of 12), Since my doctors have told me I am physically unable to work right now options for going back to work are not really there. My husband works 12 hour days at his job, that he has held for over 7 years. We have 1 car( that is paid off). Our rent of $650 a month that we do pay does not include our utlities or anything else. Our phone bills, electric, cable, water all get paid as well and we have a good payment history with them as well. Our credit debt includes :my husbands government student loans, credit cards from his previous marriage, and one month of car insurance not paid by me after I went into the hospital.
we are looking for a home in the $50-$100k price range .. so that we can make our payments.

Administrator answers:

Try going to a new home builder. Like getting a new car, a new home will probably be easier to get into than a used home. My wife are only 24 years old and also have bad credit (560 for me 580 for her) and debt ($3k owed to an apt. Complex for broken lease among other things). Combined we only make about $40-45k a year which is less than your husband. The home builder that we were with couldn’t get us financed in house with them but because they wanted our business our loan officer referred us to another company that got us approved. This company was actually able to use my wife’s credit with my income level but this might have worked well for use because we work in the same company. To be honest with you your financial situation seems to balance out with ours because we have not kids but we do pay for a $450/mo. Car note and our mortgage is $950/mo. As opposed to the $650 you say that your friends are paying for mortgage. The only thing you must be aware of is property taxes. Property taxes range in different areas but they may be anywhere from $2,000-$6,000 or more per year depending on where you live. Your lien holder can include this into your note as a monthly payment and many times will depending on your type of loan (conventional, fha, 80/20, etc.). Our taxes for our area are about $4,500 a year which puts us at about an additional $400/mo. Bringing our total monthly payment to around $1350.

If you think that getting a used house might be cheaper, do your research. We were able to buy our house for $130k which is about the price that the used homes were selling for. It only made sense to get a brand new house that cost as much as a used house. The figures however will still run the same with the same taxes and same interest rate only you might have a tougher time getting a loan because there is no one pushing to get your business except for the loan officer and/or real estate agent who can only do so much for you. New home builders have many contacts that make buying a house a possibility for anyone.

Sandy asks…

How much will I pay for car insurance as a 17 year old in CA?

I am a 17 year old girl, who is going 2 get a nissan versa. I make about $600.00 a month at my job. My parents said they would get me the car. I have to make monthly payments, which would be $250. They have really good credit. How much would insurance cost? What is the best deal I can get? What company should I go to?

Administrator answers:

/ Good for you!

Car Insurance is based on many factors as you know – and unbeknownst to many, Credit History is one of the most important factors for cost of auto insurance…makes no sense, right? I agree, but it’s true.

That being said, and since you stated your parents have really good credit, I would…

…look into getting on your parents automobile insurance plan. It will be cheaper than going it alone until you reach 21 years of age. You could pay your rate to your parents if you wish, but you won’t get a better deal from another company.

Unfortunately, insurance companies such as Geico, and Progressive are known to quote a rate, then after you agree to it, the rate is higher based upon new information such as your credit history. You either accept the new rate, or cancel because it wasn’t the original rate quoted. Don’t be surprised if you experience this, and get disappointed.

Whatever you decide, enjoy your new ride!

David asks…

What is the best insurnce for a 18 year old?

I am 18 years old and my parents are making me get my own insurance this coming summer. I have looked into it to find the cheapest available and wudnt really wana pay anything more than 150 a month. What is the best company to get a low monthly insurance payment. i have a b average am a college student and took a defensive drivers course and i have a clean driving record… so far from what ive seen its geico all the way. any help?

Administrator answers:

I’m 19 and when I got insurance (at 17 years old) I looked at locally owned companies. I also only bought liability insurance for my car, (which is the least amount owned to be legally insured.)

My car insurance company is called “Affirmative” and is a local company THROUGH InsureOne.
I’m sure they sell it online.

I started out paying $86 a month for this insurance and it goes down about $2 every month that I don’t have a reported accident and if you pay for it in 6 month increments, you save about $100 or so.

Also, if you have a parent say that they are the co-signer on your car, you will pay less.

Joseph asks…

How much are monthly payments on a new Chevy Cobalt?

I’m trying to pick the best car possible for my first car. I can’t afford high monthly payments. I was hoping that the payments wouldn’t be too bad for a Cobalt since they are generally cheaper cars. Any input from any 2008 Cobalt owners?

Administrator answers:

It depends on how much money you put down, how long of the loan you get and how much interest you are going to pay based on your credit…you will probably pay a few hundred dollars a month plus the cost of insurance won’t be that cheap considering you will need full coverage since the car will be financed I would say car payment with insurance will be maybe about 350-400 a month

Charles asks…

How do I help my girlfriend after a car accident?

She totalled her car this morning, new insurance w/ no body coverage. her family cant afford it, she goes to school 13 miles away, dual enrollment in college 10 miles away, job 8, my house 15. I have a car, her dads girlfriend has a car to use only sometimes but she needs one to get everywhere . What is her best bet? Financing? Auction? Monthly payments on used? A few thousand is something they dont really have at the moment.

Administrator answers:

Police car auction. The cars are nealy new, theyre dead cheap, and they’re well looked after as well. You can pick up a right good bargain there. Unfortunately, you dont get a flashing blue light for the roof of your car, or a police radio scanner to put in, either……

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