Insurance for your vehicle is required by law in most states, but it can be expensive. However, there are ways to lower your rates, but it takes time. The good news is that some vehicles, like the Ram 1500, can help you get lower rates even if you have bad credit.
Your insurance rates are affected by several factors
Having a good driving record is easier said than done. A simple run-in with another person can lead to a significant increase in your rates. For some insurance companies, this only applies if you are found at fault. For others, your rates may increase even if you had nothing to do with the accident. This could take years for your rates to come down.
Other factors that will lead to an increase in rates include your age and where you live. Younger drivers who are just starting to get some behind-the-wheel experience can expect to pay rates as high as $6,347 for drivers with a good record and $10,903 for drivers with bad credit. This is due annually, which makes it very daunting for parents of young teens.
After age 55, rates will start to go up again, although they probably won’t be as high as before, unless you have an extremely bad driving record, as well as bad credit.
What most people don’t consider until it’s time to buy a car is that the type of vehicle you drive will also increase your rates. While Ram doesn’t offer the cheapest rates, there is a model that will cost you less than others, even if you have poor credit.
The Ram model with the cheapest insurance costs
The Ram 5500 is priced at a whopping $4,877 for drivers with bad credit, according to Car Edge. This is paid annually, which means you’ll pay $406.42 per month. This is more than some people pay for car payments.
The Ram 1500 is only $2,993 per year. It’s still a bit pricey, but it’s a lot better than the 5500. At this price, you can expect to pay around $249.42 per month. A good driver will pay approximately $1,743 per year and a driver with a recent accident will pay $2,559.
Where you live will also play a role in your rates. Prices tend to range from $2,500 to $5,000. However, in Michigan, the fees for owning a Ram 1500 with bad credit is $9,678. The cheapest state is Hawaii, which only charges $931.
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The Ram 1500 has many great features
If there’s one thing the Ram 1500 is known for, it’s receiving tons of awards from major review sites. It is a frequent recipient of Motor Trend’s Truck of the Year award, as well as awards from Consumer Guides. But what makes it so amazing?
Simply put, the Ram 1500 can function as a work truck, SUV, or daily driver. There are very few vehicles that can make this claim. The 2023 Ram 1500 will have a choice between a V6 or V8 engine. It is expected to have excellent fuel ratings and a smooth driving experience.
While many work trucks aren’t known for their comfortable interiors, the Ram 1500 doesn’t fall into this trap. It’s easy to get in and out of and the seats are very comfortable. With proper maintenance, the Ram 1500 can last more than 250,000 miles. If you have bad credit and want a Ram, it’s hard to beat the 1500.
