Before you go out to negotiate the purchase or lease of a car, it is wise to get an idea of how much it will cost to insure the vehicle. It is a good idea to get an estimate of the insurance premiums that you can expect before you go ahead with the deal. The type of vehicle, along with some of the other factors listed below may determine how high the premiums will be:
- Your age
- Your marital status
- Your driving record
- The geographic area you live in
- Safety features of the car
- Make and model of the car
- How much you drive the car
SUGGESTION: Keep your insurance company up to date by letting your insurance company know if there is a change in your life that will affect your auto insurance premium. Update for things like getting married, joining a car pool, or installing an alarm system in your car. Also, if your commuting mileage to work decreases or you stop driving to work and only use the car for pleasure, these things may reduce your annual premium.
*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. ("CFS"), a Registered Broker-dealer (Member FINRA/SIPC) and SEC-registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. General Electric Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.
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