I am going to be replacing my car. I know already that the leasing option is less expensive than the purchase, but I have two questions: 1) Will there be a substantial increase in my car insurance if I choose the leasing option; 2) If one is a low average mileage driver, i.e., 7,000 miles a year, is it better to lease?
Hey IMUSICI! I would be happy to share with you some information about purchasing or leasing a new car. While owning or leasing a vehicle will not impact the premium, please know that depending on the year, make, and model of the vehicle can impact the premium. For your convenience, you can quote a new vehicle by clicking on your Auto Insurance Policy and then on Add, Replace, or Delete a Vehicle. While we are unable to recommend if you should purchase or lease, we do have an article regarding this that may be helpful for you: https://bit.ly/2Gyn6YO. Have a great day! -Marisa