Quote:
Originally Posted by G-Oil Guy
You're also insuring a brand new vehicle versus one that is one or two(?) years old.
My brand new truck cost more to insure than my 10 year old car that I was trading in. Brand new vehicles will almost ALWAYS cost more to insure than whatever you're trading in.
|
Correct, on a new vehicle insurance you are getting purchase coverage, while on a used vehicle you get replacement cost (blue book) coverage.
Also, Insurance companies (usually correctly) assume that you will be driving your V8 SS less than you would a typical city car such as Volt, Hence the higher insurance.
Disclaimer: Anecdotal evidence