Let’s say you’re ready and excited about the prospect of buying a new 1500. However, before you begin choosing your amenities, comparing trims, and making room in your garage, you’ll need to consider insurance. With paying taxes, insurance coverage is not something you can do without and it is essential. It’s the ownership side cost of being a truck owner that you’ll need to consider.
Before you go truck shopping, be prepared to go buy insurance. Expect to see monthly premium estimates across the board. Each insurance company will review your situation and provide a quote based on some important criteria. If you are not confident about your credit history or credit score, be prepared to pay more for insurance.
Provide a set of details about yourself. For starters, today’s insurance providers will look at your age, region, and driving record. Younger drivers typically present higher risks, which leads to higher premiums. Additionally, living in large cities may be more expensive than driving in rural areas from an auto insurance coverage perspective.
It is also known that your insurance rates will go up if you have recently had an accident on your driving record. However, you may not realize that your credit history also plays a huge role in what you pay for auto insurance. Since your credit report will highlight delinquent accounts, late payments, and revolving credit, your insurance company will rely on it to gauge your reliability as an insured customer. If your balance is in the tank, be prepared for ridiculously high insurance premiums.
Ram 1500 insurance costs if you have bad credit
Yes, each person’s situation will be unique. However, it refers to some of the average rates for insurance. Based on insurance for a Ram 1500, someone in their 40s with solid credit can expect to pay a national average of $2,011 annually. This same 40-year-old who was in a recent accident would pay approximately $2,952 to insure a Ram 1500.
You may want to sit for estimates for an 18-year-old who wants insurance but has poor credit. CarEdge estimates that it would cost you $10,903 each year in this scenario.
Here are other estimates, based on insuring a Ram 1500 with bad credit, ranked by age:
- 25 years old: $4,922 per year
- 30 years: $3,834 per year
- 40 years old: $3,454 per year
- 50 years old: $3,082 per year
The latest in the 2023 Ram 1500
Once you’re ready for insurance and the other costs of ownership expenses associated with it, you can get back to truck shopping. For new models, the 2023 Ram 1500 is a dreamy option to consider.
He calls it “uncommonly smooth” and praises the Ram 1500’s signature rear suspension design. You can choose between a V6 or V8 engine, depending on how you plan to use the Ram 1500, and neither will disappoint. There’s also a 3.0-liter turbo-diesel V6 and a supercharged 6.2-liter V8 option if you need a little more muscle.
New for 2023 is a luxury-themed trim level called the Limited Elite Edition. Plus, there are seven models to choose from, including the Tradesman (and Tradesman HFE,) Big Horn (called Lone Star in Texas), Rebel, Laramie, The Longhorn, The Limited, and the fat TRX.
Before test driving your new truck, don’t forget to do some insurance shopping. If credit isn’t for you, just be prepared to adjust your monthly budgets.
