An article from Forbes explained that owners of electric vehicles (EVs) may have to pay more for insurance than owners of gas-powered cars. Some of the experts interviewed for the article said that the higher insurance rates can be attributed to the fact that repair costs for an EV are greater than those for conventional autos.
You’re currently paying insurance on your new car, which makes sense. In the event you are involved in an accident, you are covered and, depending on how bad the damage is, it could be repaired. But you may also be carrying insurance on an older car you barely drive. The policy probably costs more than what your junk car is worth. Rather than continuing to cover the junk car, cancel the policy and sell your old car to Gershow Recycling. Get money for your junk car instead of wasting money on it.
Wards recently released its forecast which predicted a seasonally adjusted annual rate (SAAR) of 14.1 million light vehicles in sales and inventory for last month. (SAAR is the number of light vehicles, both sold and unsold, over the past 12 months.) That number would mean an 8% increase over June’s numbers and a major improvement over April, when there were fewer than 9 million vehicles that were both sold and on the market because of the ongoing coronavirus pandemic.