Many people do realize it, especially those who believe they’re getting great rates with large car insurance providers such as Geico, but most car insurance policies are in-fact based on a predetermined profit margin based on interest accumulated each month within the payments you make.

Although there are “interest free” car insurance policies out there, unfortunately many have some of the following drawbacks:

Substantial increase in monthly or annual payment—so do you save money after all?

Stricter requirements, such as zero accident or ticket-violation history.

Less coverage to accompany the cheaper price—ouch, not so ideal.

With these variables in mind, it’s worth doing your research to determine which car insurance providers are interested in ‘negotiating’ an interest-free monthly or annual premium.

Some ways to do this include but are not limited to; negotiating and paying at once the annual premium, settling for less coverage, and requiring a co-signer or the usage of a family-members insurance history and record, which in turns applies more liability towards you—unfortunately.

Anyone serious about applying for and successfully obtaining interest free car insurance needs to apply common sense and ask around. Additionally, ensure that the car insurance provider you’re considering is accredited and recognized by the government—for example, in the United States, approved by the Better Business Bureau (BBB).

It’s worth noting that age, driving history, length of history, and even medical conditions can—even unknown to you—be analyzed and considered when it comes to determining the monthly or annual car insurance premium in which you’re assigned.

So what do I qualify for?

With all this being said, those that are of age to be considered senior-citizens may find it easier to obtain ‘interest-free’ car insurance policies.

You might find that many car insurance providers have (comparable) discounts or deduction of interest rates for some college students or employees of specific, well known, global companies—or those that have decided to opt-in.

Special offers for new drivers under 21 year old (17 18 19 20 years old): Marmalade company offers 12 months’ free insurance for young drivers with brand new car

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