As a recovering car fanatic who has literally bought and sold 8 different cars in the past 10 years I’ve come to appreciate the intricacies of getting a good deal. One of the most important things people don’t think about when they are about to buy that fancy European automobile is how much car insurance will cost.
On an absolute dollar level, driving a $50,000 car could cost anywhere between $2,000-$3,000 a year, depending on your record. At 4-6% of the annual cost of your car, car insurance is a big deal! The irony is, the cheaper the car you buy, generally the higher car insurance is as a percentage of your total cost.