Does the Type of Car You Drive Affect Your Auto Premiums?

When you are in the market for a new car you are faced with a number of decisions. Do you want something to easily cart around your 12 children, 5 dogs, and 2 cats or something sporty to show the world that although you are a mom you are still a free spirit? Do you want a brand new car or one that has been around the block even more than you have? Will the choice I select affect my auto insurance premiums?

When it comes down to it the third question may help you decide the first two. It's been long known that the type of car you get can affect your premiums. Choose something sporty or high performance and you are likely to take a hit in the wallet. Choose something older and (I'm sorry to have to be the one to break it to you) more fitting of your station in life and you not only let someone else take the depreciation but you may find yourself with some extra change to buy that large coffee you so desperately need.

What about color? It's been commonly believed for years that if you drive red it will cost you more green. Not true! The reason for the misconception is that most sports cars are purchased in red and while that will increase your premium it's the model of the car and not the pretty paint that is to blame.

So when you arrive at that car lot remember that while buying something older and a little less sporty may not make you as cool as you are in your dreams it may help you afford those new jeans that definitely will. And hey, if you are going to have to settle a little in what you choose tell the dealer to go ahead and make yours red.