Is it cheaper to insure a pre-owned car? People sometimes are tempted to purchase a car that is pre-owned but with low mileage and a price that is more reasonable than buying a new car. However there is a possibility that the car owner might up up paying more for repairs and for insuring the car than opting to buy a new car that might cost less to insure and might not breakdown so often.
Pre-owned cars are more expensive to insure because there is likelihood of more car-related complaints. Pre-owned cars also tend to be older and hence they lack some of the technological advances seen in the new cars. Some pre-owned cars may not even have safety features like air bags or ABS breaking system. Sometimes some cars might also be the subject of recall by the manufacturer because of irreparable manufacturing fault. Its a good idea to check with present owners of the same type of car that you are intending to purchase to fully understand the issues with the car model you are buying