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Insuring a used vehicle is considerably lower than insuring a new model. Costs can be as different as $50 to $500 or more annually depending on the make, model, year and previous driving record of the person insuring the vehicle. Another reason for the lower insurance costs is that an older vehicle does not always need to be covered for all possible insurance options, such as collision. A brand new vehicle will need more coverage for protection from accidents. |
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