When you are in a position to buy your first car, it’s always wise to look at your needs and budget before shopping around. A budget is most effective when it includes not only upfront costs, but ongoing expenses such as fuel, registration and insurance. Your Chicago insurance company may base premium prices on several factors, including age and condition of the car. It’s essential to realize therefore that decisions you make now when deciding on which car to buy may have an ongoing impact.
It’s best to find out as much information on insurance early on so that you are very clear on your options. Obviously the condition of a car is an important consideration; so too is fuel efficiency, and the safety record for particular car models (be sure to do your research).
Ongoing costs for car owners generally include an annual registration fee, maintenance, including replacement parts, fuel and insurance. Creating a tally of car costs will generally help you identify what you can afford, and how much you have to spend upfront.
Drivers are legally required to have car insurance in place in Chicago, so it’s essential to understand what your obligations are. For further details, speak to your insurance company or agent.