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I know insurance has many variables factored in to determine your coverage cost, but what are you expecting to pay for monthly insurance on this new vehicle? Are you planning on getting GAP insurance as well?
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Makes sense. I'm expecting to put at least 50% down, 48-60 month.GAP, in my opinion, is only worth it if you finance longer than 48 months and also put zero to little money down. Also worth it if you drive a lot. If you put 0 down on a 72 month loan and put 30k miles on it the first year, you're going to be wayyyy upside down.
Interesting. I was looking to see what vehicle I could use to estimate the insurance cost. I will look into using the Wrangler as the surrogate.I don't know that this question makes too much sense. Every state has their own insurance regulations. I can nearly guarantee that my insurance is more than most. Because... Michigan.
I figured I'd quote a policy change with my insurer and I just used the Wrangler as a fill-in. My insurance rates actually goes down for a Wrangler vs my Focus ST. I don't know what the reality will be, but it's not going to be enough to be a make-or-break factor for me.
As far as GAP insurance. It only makes sense if you expect to be upside down in your loan. I shouldn't end up there, so, no.
Good to know. Thanks!My general rule with GAP is if you're not putting down at least 20%, then you need it.
As far as insurance goes, you're probably going to want to go off of Wrangler/Gladiator rates. For some wild reason when I quoted ADDING a Gladiator to my policy, my rates actually went down.
Insurance is such a strange thing. Until these hot the streets we'll never know.
Best estimate is perhaps whatever you are paying for your current car. I would expect Bronco to be similar premium to 2020 Explorer (ask agent for estimate). Mine is about $30/mo each for Raptor and Explorer (GEICO):I know insurance has many variables factored in to determine your coverage cost, but what are you expecting to pay for monthly insurance on this new vehicle? Are you planning on getting GAP insurance as well?
Those rates are stupid low. I'm paying $86/month @ age 24 for a 2009 Saturn Aura lolBest estimate is perhaps whatever you are paying for your current car. I would expect Bronco to be similar premium to 2020 Explorer (ask agent for estimate). Mine is about $30/mo each for Raptor and Explorer (GEICO):
Typically, when you turn 25, your rates will be cut in nearly half..... I went off high risk 3 months brior to my 25th Bday, rates dropped by more than 50%...then 3 months later they dropped by 50+/-% AGAIN ....I was in the military at the time....felt like my pay doubled or tripled!! LOLThose rates are stupid low. I'm paying $86/month @ age 24 for a 2009 Saturn Aura lol
Yup, one of the very few benefits of age...Typically, when you turn 25, your rates will be cut in nearly half..... I went off high risk 3 months brior to my 25th Bday, rates dropped by more than 50%...then 3 months later they dropped by 50+/-% AGAIN ....I was in the military at the time....felt like my pay doubled or tripled!! LOL
Interesting... I'll have to see if the same will happen with mine when I turn 25 this October... Thanks!Typically, when you turn 25, your rates will be cut in nearly half..... I went off high risk 3 months brior to my 25th Bday, rates dropped by more than 50%...then 3 months later they dropped by 50+/-% AGAIN ....I was in the military at the time....felt like my pay doubled or tripled!! LOL
You may find that Bronco is about the same even though the value is higher. It also pays to shop around and be sure to ask for their best "discount" plans which they may not advertise.Those rates are stupid low. I'm paying $86/month @ age 24 for a 2009 Saturn Aura lol