For many first-time used car shoppers, they risk getting swept away in the experience and falling for a vehicle that has the performance specs that they desire and a sleek, stylish look. But, what they fail to consider is the cost of ownership, including fuel, regular maintenance and insurance costs. Each month, these expenses add up and can lead many drivers to be “car poor.”
That’s why it’s very important to always do your research before you buy – especially since these expenses are unavoidable. You must be sure that you can carry your vehicle month-to-month and save for emergencies because you never know when one might pop up.
Which brings us to our next point – automotive insurance. This is non-negotiable – all drivers need to insure their vehicles no matter what kind of car or truck they drive. Your insurance broker is a great resource to tap into, especially if you have a certain make, model and year in mind. With this information, they can provide you with a quote before you buy to help you determine whether you can afford the yearly insurance costs for that vehicle.
Not sure what type of car or truck that you’d like to buy? To help you narrow down your choices, we’ve included a list of the top 10 most affordable 2016 vehicles to insure, as reported by Forbes using information from Insure.com:
2016 Honda Odyssey LX
2016 Honda CR-V LX
2016 Dodge Grand Caravan
2016 Jeep Patriot Sport 2WD
2016 Jeep Wrangler Sport
2016 Jeep Compass Sport 2WD
2016 Ford Escape S 2WD
2016 Buick Encore Sport Tour
2016 Jeep Cherokee Base 2WD
2016 Nissan Frontier King Cab
As you can see, minivans and SUVs are the most affordable vehicles to insure, compared to other cars, like sports cars or even sedans. The reason being is that minivans and SUVs are often dubbed as “family vehicles”, which reduces their overall insurance risk since these types of autos are often piloted by risk-adverse parents who are concerned more about safety than high performance.
And, when it comes to safety ratings, many of the vehicles listed above have earned top scores, like the Jeep Wrangler Sport and the Honda Odyssey LX – both received five-star safety ratings from the National Highway Traffic Safety Administration. How’s that for peace of mind?
Want to learn more? If you need a used 2016 model year vehicle with lower than average insurance costs, then come and visit us at Key West Ford in New Westminster, B.C. Our knowledge preowned sales staff will work with you to find the best used car, truck or SUV from our extensive inventory of all makes and models, including Ford.