Leasing VS Financing on insurance rates?
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Leasing VS Financing on insurance rates?
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Just wondering, if leasing and financing have any difference on insurance rates? For example of the same person finances the exact same car or leases it(with gap coverage in the lease) would the rates be any different?
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Charlottie V
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I recommend an online insurance quote. It's free and quick to do. http://www.autoadviceonline.com/Auto-Insurance-Quote.html
Good Luck. |
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boobookittyfck37
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Whether you finance or lease you will be required to carry full coverage (both comp and collision), however the difference is if you lease, many times the leasing company requires higher liability limits as well (usually BI at 100K/300K and PD at 50K) where as when you finance you can go as low as your state required minimum. |
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Joe Mama
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Lease rates are higher in my experience. I have leased 3 cars in the last 9 years, all civics, and the rates for a year were higher than my corvette. I have no idea why that is. |
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roadhunter
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As long as you don't own the car 100% (after paying it off if you financed it) insurance will be the same. That is, both a leasing and financing company will require you to get full coverage, since they have a financial stake in the vehicle. |
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CHRISTOPHER H
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I have met the similiar problem before -- still a little bit annoy,here http://www.AutoInsuranceFree.info/free-auto-insurance.htm is a good resource that help me out. |
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mbrcatz
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For the most part, no. I do know of a couple insurance companies that charge an extra $15 to add the leasing company on as an additional insured. And, of course, if you're leasing, you'll be required to carry insurance limits of at least $100,000/$300,000/ $100,000 - while if you finance, you can carry much lower limits.
However, if you're trying to decide - in general, leasing cars is a very, very poor money management strategy. |
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Kizzy
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Leasing can be higher as you have to carry a certain amount of coverage. On buying a vehicle, you have the choice of the amount of coverage. |
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ford y
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Financed and leased cars is more expensive to insure cause it requires full coverage. So it depends from how many time you need to pay your car.
Help yourself - you can check your quotes in internet, for example here - car-insurance.66ghz.com |
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