An Overview on Owning a Turbocharged Engine and If Your Insurance Will Increase
After much research and excitement, the time has come for you to purchase a vehicle. If you’re like some of us, you want as much power as you can get inside your next model for the fun drive or towing capacity. But are there hidden costs you may not be expecting with a turbocharged engine? At Matador Motors, we go over some things you may not have thought about: will your insurance increase with the purchase of a turbocharged engine?
Reporting the Turbocharged Engine is a Priority to Your Insurance Provider
If you do purchase or lease a new vehicle, it is required by your insurance provider that you provide its details. This is especially true for turbocharged models, as the price of covering a more expensive engine can save you thousands in case of an accident. Even if you opt to replace your engine with a stronger one, notifying your insurance provider will help you keep coverage on all facets of the vehicle. However, insurance companies look at yearly statistics to determine the overall cost for your coverage; meaning if your vehicle can go faster or has more horsepower, it is more likely to be at-risk of an accident or costly breakdown.
Is it Worth it to Buy or Lease a Turbocharged Model?
You may be asking yourself: is it still worth purchasing a model with a turbocharged engine? The best way to determine if you can afford any insurance hike is to talk to your provider before you buy it. This will give you a better idea of any monthly cost increase. Then, you’ll be prepared to budget ahead of time and won’t have to worry about additional after-purchase fees. From there, you can determine if you can afford or feel comfortable paying the additional amount to purchase.
Matador Motors Works with You for an Affordable Vehicle!
Despite the concern with a turbocharged option, we at Matador Motors work with you to find a price that can fit your budget. This does include any turbocharged models we have at our Wolfforth, TX location! Stop in and talk with us if you have any questions about our inventory!
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