For every car buyer who gets a kick out of that 'new car smell,' there's another person who remains devoted to a particular make and model — regardless of whether it's new or not — or who simply prefers to buy a used car instead of a new one. Carmax had these used car lovers in mind when it recently compiled its list of the most popular discontinued cars. The vehicle sales website reports that discontinued cars make up about 12% to 16% of its overall car and truck sales. Many of these vehicles can be categorized as luxury cars, sedans or sports utility vehicles. There are certainly advantages to buying used vehicles. Pre-owned and discontinued cars tend to be less expensive to purchase and less expensive to insure. They don't depreciate as quickly as new cars, and they make sense from a conservation standpoint. As for insurance, many of the same factors that go into determining coverage for new cars are used to determine premiums for drivers of used and discontinued cars. Carriers will look at such details as the driver's road record and credit score, according to the Insurance Information Institute. But owners of pre-owned vehicles can shave their insurance costs by opting to reduce their coverage, an option that's generally not available for new cars. III recommends that drivers looking for car insurance shop around, get recommendations from family and friends, and look for guidance from their state insurance department. See also: |

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