Buy Now Pay Later Car Insurance

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Buy Now Pay Later Car Insurance

If you’re a regular worker with a low salary and looking to save money any way you can, get your vehicle covered with buy now pay later car insurance online. If you are used to a big down payment when buying coverage, you might be a little bit skeptical. The good news is some carriers will get you fully insured with no deposit. This is great for those that are in a cash crunch, but still, need to get auto insurance right away.

Choose the Best Coverage You Can Afford

Just because you can buy no down payment auto insurance doesn’t mean you need to skimp on coverage. In fact, this is one of the most important aspects before to buy now pay later car insurance. You need to purchase enough coverage to protect your assets, in the event you get into a serious accident.

If you have a new or almost new vehicle, then you should consider purchasing a collision and comprehensive plan. You want to protect the large investment you’ve made in the automobile, so a claim payout will cover the replacement cost, or close to it.

Select the Type of Coverage You Need

There are three types to choose from: liability, collision and comprehensive. If you own a car that is not worth too much, you might be able to get away with a liability only policy. This will get you legally insured, but offer limited protection if you get into a wreck. Collision and comprehensive insurance with high limits should be bought for vehicles valued at over $10,000. It’s also smart for those who have assets to protect, such as investments and property.

Another tip for those looking for no down payment car insurance policies is to not just go for the cheapest plan. Your focus should be on fully protecting your financial assets, not just the policy price. Once you have decided on the type and amount of coverage you need, then you can compare rates from several providers.

Car Insurance is Not mandatory in Just a Few States

Insuring your automobile is not just smart, it’s the law. All but one state in the U.S. have laws that mandate all drivers carry minimum levels of liability insurance. Even if you are financially strapped, you should never operate a vehicle without it being insured. Driving uninsured can have serious consequences. If you get into an accident you caused, you could be held financially responsible and ordered to pay a considerable sum. Your wages could even be garnished to pay for the damages you caused.

The good news for those consumers low on funds is they can secure coverage with nothing down auto insurance policies. Not all carriers provide these type of no down plans, but some companies do offer it.

Pros and Cons of Buy Now Pay Later Auto Insurance Plans

If you’re in a short-term cash crunch but still need to buy now pay later car insurance, then getting a policy with zero down can be a lifesaver. Maybe you are in a new job or waiting a few weeks to get paid and don’t have the funds to pay for the premium down payment. Some providers will get you covered for the first month free.

The premium payments will then be broken down into convenient monthly payments. For example, if your monthly premium is $100, with nothing due the first month, you are getting two months of coverage for just $100. That’s a good deal that makes sense for those with temporary financial issues. You can also have the payments automatically withdrawn each month, using your credit or debit card, which is an added convenience.

The negative aspect of this type of policy is you will pay an additional 5% to 10%. While there is no payment the initial month, subsequent months will be more expensive than if you paid the entire premium in full and upfront. This is pretty much the only drawback to this type of payment plan.

Companies that Offer Zero Down Coverage

Not every insurer in the United States offers to buy now and pay later auto insurance with nothing down. There are select carriers that provide this type of deal. They include:

  • Farmers
  • Geico 
  • Progressive
  • State Farm
  • All State
  • Nationwide
  • Esurance
  • Kemper
  • Safe Auto Insurance

States that have No Down Payment Auto Insurance

  • California
  • Nevada
  • Arizona
  • Washington
  • Oklahoma
  • Georgia
  • Florida
  • New York

If you do not live in a state that allows zero down coverage, don’t worry, there are other options. Some insurers offer policies with down payments as low as $20. Apply now for a free rate quote online and get covered for less.

Take Advantage of Discounts and Save

There are numerous discounts that you can take advantage of to get even cheaper rates. Some of the discounts you might have never heard of before. These are a few of the most popular:

  • Safe Driver – Not having any tickets or accidents on your record can save you 25% and more
  • Low Mileage – Driving less than 800 miles per month will knock about 10% off your premiums
  • Good Student – If you are in high school and maintain a 3.0 or higher GPA, you can save about 15%
  • High Deductible – Choosing a higher deductible, of $1,000 or above, is an excellent way for safe drivers to save hundreds per year
  • Safety Features – By having airbags, anti-lock brakes, GPS based security systems and other safety features you could get discounts of 3% to 5%
  • Garaged Parked – Just by parking your vehicle in a secured garage can earn you a discount of about 2%
  • Military and Veterans – If you are an active military member or a veteran you can earn discounts of 5% and more

buy now pay later car insurance

Apply for First Month Free Auto Insurance Online

Finding buy now pay later car insurance plans is easier than you probably think. Just apply for your free quote online. The entire process only takes about 4 to 5 minutes. You can use any device connected to the web, including tablets and any smartphone. Here are a few basic questions that will be asked.

  • Make and Model of your Vehicle
  • Home Address where the car will be parked
  • Drivers License Number
  • Monthly Miles Driven 
  • Driving Record 
  • Desired Coverage Type and Amount

Buying coverage is easier and faster now than ever before. At sites like Young America Insurance, you can compare up to 10 quotes in less than 5 minutes. Get started online now by entering your zip code.