If I were to purchase a 2015 Cadillac Escalade, would the insurance premium be more than that of a 2015 Chevy Tahoe? even though it’s ten years old?
I receive low-mileage, luxury vehicles between the ages of two and five. usually wind up spending about the same as a comparable non-luxury brand with a comparable year and mileage. Luxury cars experience severe depreciation whereas “normal” cars do not, resulting in price parity.
When I compared insurance premiums for a 2015 Cadillac Escalade and a 2015 Chevy Tahoe, I found that the Escalade, even though it’s ten years old, typically had higher premiums. This was because the Escalade is considered a luxury vehicle with higher repair costs and more expensive parts compared to the Tahoe. In my experience, luxury vehicles often come with higher insurance rates due to these factors, so you might expect the Escalade to cost more to insure than the Tahoe.