So, you have decided to make the big decision of trying to get an auto loan with bad credit, but have you factored in what auto insurance will cost you per month?
If you have high hopes on getting a new vehicle loan you might be very surprised just how much it will additionally cost you per month to have that vehicle insured. Of the many important variables to consider with purchasing a new vehicle, the most important to a first time car buyer should be how much the insurance will cost.
With a new vehicle purchase you will be required to get full coverage insurance. Depending on your driving record that full insurance plan could cost up to several hundred dollars per month. If you are living pay check to pay check, insurance payments can eventually drag you under. Remember, insurance payments are part of your monthly cost of ownership. It is strongly advised to get insurance quotes on several desired vehicles, so you can know before hand what your monthly expenses might be.
Buying a newer used vehicle is the best way to go for a first time bad credit car buyer. Not only will the car payment per month be lower, but you will have some choice on what insurance options you will pay per month.
Filling out a bad credit auto loan application at AutoCreditExpress.com can make this process simple for you. We have expense calculators on our website that are efficient and give you an idea of what you can be approved for based on what numbers you enter.