Issues To Expect When Buying A New Car For Your Teen
Passing your driving test, especially if done when you are still a teenager, is an incredibly important and exciting event. Far from thoughts of auto insurance, collision coverage and incidental maintenance costs, most teens just start thinking about owning their own car. For the parents, the issues of selecting a car, an auto insurance policy and maintenance package for their newly accredited driver is more pragmatic than celebratory. Buying an auto insurance policy and securing a favorable insurance rate, especially for a new vehicle, can be a complicated process. For this reason, extensive research and knowledge is invaluable.
Buying a new car for a teen driver can be a minefield. As we all know, a new car comes with certain costs that may not accompany a used vehicle. In general, auto insurance can be costly for new vehicles, something that is all the more pronounced when the driver is newly licensed. If you look at the auto insurance rate average for young drivers, you will find them to be higher than those for experienced drivers. When you buy a new car for your teenager, the auto insurance rate does not come with any no-claims bonus or loyalty discount. These are things earned over time. Thus, even if you can afford the new car, considering the auto insurance policy costs may be critical to the overall purchase.
As well as the issues pertaining to auto insurance rate premiums for teenagers driving new cars, there are also the ever-important maintenance costs to consider. Even when a car is new, scheduled maintenance such as oil changes and annual tune-ups can be costly. Older cars may need more maintenance over time, but no car comes without ongoing maintenance cost. Maintenance will also be a contributing factor when finding the right auto insurance policy for your new car and teenage driver, as well as the car you buy.
Overall, there are pros and cons for buying a new car for a teenage driver. Even setting aside the cost of the vehicle, the auto insurance policy rate that you will be offered is based upon the age of the driver even more so than the age of the car. There are two main considerations when throwing this idea around. Buying a new car is costly, so be sure to search around for the most cost efficient auto insurance rate offering an auto insurance policy that has full, comprehensive coverage. The second consideration is the cost of maintenance on a new car, especially for a teenager. Either way, get the best auto insurance to ensure that the teenager and new car are both fully covered.
