Keeping car insurance costs under control is particularly important when financing a vehicle from a high risk lender
Reducing the Costs of Auto Insurance
Our experience

Here at Auto Credit Express we believe that one of the keys to successfully completing the bad credit car loans process is to keep the loan term as short as possible while also keeping the total monthly budget outlay for car expenses as affordable as possible.

To accomplish this, car buyers with credit issues should consider financing either a mid-size or compact car. This will keep monthly payments, as well as the overall finance charges, reasonably affordable.

At the same time, these vehicle types are also more affordable to insure. With that being said, we recently came across a number of tips from that could save you even more money. So here they are along with our own notes (in bold) for credit-challenged car buyers.

Cheap auto insurance tips from

Older car? Drop collision: Have a car that's 7 or 8 years old or worth less than $2,500? Time to think about taking the risk and dropping comprehensive and collision from your auto insurance quote. Chances are your deductible is closing in on the value of your car and a major collision will send you to the dealership, anyway.

Note: if you're financing a vehicle you must have both comprehensive and collision coverage.

Buy home and auto with different companies: With everything being bundled today - from cell phones to Internet and cable TV - you'd think that having your home and auto insurance with the same company would save money. But, do your research and you may discover that having separate policies will be cheaper.

Minimum liability? Not enough: You may think you can only afford the minimum coverage required by law. But, there's a good chance those minimums won't come close to covering the costs of a serious accident - which means you could be paying WAY more than you bargained for if you're at fault.

Shop around for lower rates: A State Farm agent only quotes State Farm. Same for Allstate. So what are the chances their agent will tell you to shop around for the best deal? Even independent agents only represent a few auto insurers. Shopping online allows you to fine-tune the deductibles and coverage you want and then compare auto insurance rates side-by-side.

Go green and keep some green: Look for auto insurance quotes from companies that offer "green" discounts for driving a hybrid, choosing paperless statements or electronic payment plans. Even signing your policy with an e-signature will help.

Note: most hybrids are too expensive to finance with a subprime auto loan, although you can take advantage of the other money saving tips here.

Consider paying that claim yourself: If you've backed into the garage, think twice about asking your company to repair it. Besides the possibility that your rates will go up at renewal, that small claim might affect rates next time you shop. An accident can only affect your rates for three years, but many companies will look back five or seven years when deciding if they want to offer you a quote.

Don't buy that turbo convertible: All vehicles are not created equal. Small or large, old or new, the type of car you drive will affect your auto insurance rate, often based on algorithms auto insurance companies use to determine how expensive it might be to pay a claim.

Teenager turned 16? Don't add them to your policy - yet: If your teen is 16 but not a licensed driver, you're not required to add them to your insurance policy. You're only required to insure them once they become licensed to drive. But check. Some policies may require it.

The Bottom Line

We want to thank for some real money-saving advice.

One more thing: if you're having car credit issues, Auto Credit Express can help you find a dealer for your best chance at approved auto loans.

So if you're ready to reestablish your auto credit, you can start here by filling out our online car loans application.