Hi, Im 25 and planning to buy a used truck. Its a 2003 Lincoln Navigator. First I need my license. So I wanted to know if being a new driver would make insurance expensive. Also does it make more financial sense to make monthly payments or buy a whole yr or even 2 yrs? I live with my 5 yr old sistet. Shell be on the road with me a lot. How does that factor into my situation. Does that matter to insurance companies? Do you have a rough estimate of what I would be paying?
I cannot give you an estimate of what you should be paying, but I can tell you that being a new driver will increase your rates. On your side is the fact that your are 25 years old, an age at which insurance rates typically begin to decline. The most financially smart way to buy a policy is yearly. When you pay by month, there is usually an extra $5 fee or so added on for each payment. However, if you pay by direct deposit from your bank account, most companies will waive that fee, allowing you to pay monthly without penalty.
Driving a child around will not affect your rates at all. However, any other family members in your home who are licensed but don?t own cars of their own will affect your rates. Companies assume other household drivers are likely to borrow your car.
A Lincoln Navigator is a good, strong car that should hold up well in an accident. It?s often a family car, making it more appealing to insurance companies and therefore less expensive to insure. Your choice of car is good.
You can find out what it will cost to insure the car as soon as you have your driver?s license. You?ll need it when using the form on our site to get a quote. Congratulations and good luck!
Although we do our best to offer you accurate and current auto insurance advice, we are not responsible for any negative consequences you may encounter after reading this advice. Insurance problems are often complex and can hinge on facts not provided in your submitted question. For this reason, you should not use this advice as a basis for any decision. We provide these answers for information purposes only, with the intention of steering you towards making your own conclusions about how to act or refrain from acting. Because we are not lawyers, no information on this site should be used as legal advice.
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