{"id":309,"date":"2009-08-03T00:00:00","date_gmt":"2009-08-03T00:00:00","guid":{"rendered":"http:\/\/blog.njstateauto.com\/general-auto-news\/trading-in-a-used-car-in-new-york-may-increase-insurance-rate\/"},"modified":"2009-08-03T00:00:00","modified_gmt":"2009-08-03T00:00:00","slug":"trading-in-a-used-car-in-new-york-may-increase-insurance-rate","status":"publish","type":"post","link":"https:\/\/www.njstateauto.com\/blog\/trading-in-a-used-car-in-new-york-may-increase-insurance-rate\/","title":{"rendered":"Trading in a used car in New York may increase insurance rate"},"content":{"rendered":"

One of the upsides of holding onto a used car in New York<\/a> is that insurance costs are lower than for new cars. The price of buying insurance for a car purchased through a Cash for Clunkers program may actually outweigh the discount, according to industry research.<\/p>\n

For example, insuring a used Ford<\/a> Explorer in New York costs roughly $1,400 per year on average for the 1999 model, while a new Honda<\/a> Civic costs more than $2,000 even though it is one of the more affordable new cars to insure.<\/p>\n

Adding up the cost difference over a five-year period would total $3,500, or the discount offered for such a switch, noted an Insurance.com report.<\/p>\n

While insurance may be one reason to consider staying with a used car in New York<\/a>, another may be the efforts by Republican legislators to nix any more funding for the Cash for Clunkers program.<\/p>\n

Conservative senators are not enthusiastic about a bill passed by the House to augment the initiative with an additional $2 billion, and some Democrats say that the funding would create issues by supporting a program that does not help the less affluent, reported Fox News.<\/p>\n","protected":false},"excerpt":{"rendered":"

One of the upsides of holding onto a used car in New York is that insurance costs are lower than for new cars. The price of buying insurance for a car purchased through a Cash for Clunkers program may actually outweigh the discount, according to industry research. 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