Auto Loan Spikes the Insurance Premiums?

by LisaMay » Sun Aug 23, 2020 10:57 am

Greetings!

Before this coronavirus pandemic, I had plans to purchase a brand new SUV this year. But due to financial crisis and predicted market problems, I don’t want to do with a new vehicle. That’s why I am watching late quality SUV models from here and willing to purchase one with an auto loan. I talked with their experts, and hopefully, they would help me in auto loan and adjustable monthly instalments.

However, I am confused about the insurance premiums and found many sources which claim that insurance premiums for auto loans could be higher as compared to the standard ones. Though there would be no difference in coverage but insurance quotes could be high. I am just here to know how much it could be high as compared to actual quotes? Secondly, is it possible to avoid these high costs? It would be great if you share any auto loan insurer in Pennsylvania or specifically in Philadelphia, PA.

Waiting for your suggestions.

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