Which Used Cars Are Cheapest to Insure in 2024?


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The MINI Cooper and Hyundai Elantra rank as the cheapest used cars to insure with State Farm. Insuring a 10-year-old MINI Cooper typically costs $888 annually for a full coverage policy, while the Hyundai Elantra comes in at a close $891. Meanwhile, the Ford F-150, a favorite in the U.S., costs only $978 yearly for a decade-old model, presenting a $244 saving compared to insuring a 2022 model.

Used sedans and SUVs are the cheapest car types to insure. Ultimately, the cost of insuring a car can vary significantly based on its age, size, mode, cost of repairs and actual cash value if the vehicle is totaled.

Key Takeaways

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Models like the MINI Cooper and Hyundai Elantra tend to have lower insurance rates among older used cars, but costs can vary based on various factors.

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State Farm and GEICO offer some of the cheapest rates for used car insurance.

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Age alone doesn't guarantee low insurance costs for older vehicles. Apply the 10% rule to determine if your rates are too high relative to your used car’s value.

Why Trust MoneyGeek? MoneyGeek gathered auto insurance quotes from Quadrant Information Services to give you the best car insurance calculator for estimating costs. It allows you to make informed decisions regarding your car insurance by providing you with a real-time estimate of your potential premiums.

Overall: Cheapest Used Cars to Insure

The overall cheapest used cars to insure are Subaru Outbacks and MINI Coopers. These rates are for used vehicles insured with a full coverage insurance policy.

For a five-year-old car:

  • Subaru Outback: State Farm ($996 per year)
  • Honda CR-V: State Farm ($1,006 per year)

For a 10-year-old car:

  • MINI Cooper: State Farm ($888 per year)
  • Hyundai Elantra: State Farm ($891 per year)

For a full coverage policy on a used car, insurers weigh factors like your age, driving record, location and credit history to determine your premium. That means that getting one of the cheapest cars to insure isn’t enough to keep your rates low — it’s also important that you keep your driving record clean and work on improving your credit record.

Data filtered by:Results filtered by:
Used Car Year Model:
Used Car Year Model:10-Year-Old Car
Coverage:
Coverage:Full Coverage
MINI CooperCompactState Farm$888
Hyundai ElantraCompactState Farm$891
Honda FitCompactState Farm$898
Subaru OutbackSedanState Farm$901
Honda CR-VCompact SUVState Farm$920
Kia SoulCompact SUVState Farm$929
Jeep WranglerSUVState Farm$931
Toyota HighlanderSUVState Farm$936
Toyota TacomaPickup TruckState Farm$944
Subaru ForesterCompact SUVState Farm$948
Ford EscapeCompact SUVState Farm$950
Dodge Grand CaravanMinivanState Farm$952
Chevy SilveradoPickup TruckState Farm$958
Acura MDXLuxury SUVState Farm$961
Subaru ImprezaSedanState Farm$963
Mazda3CompactState Farm$964
Jeep PatriotCompact SUVState Farm$971
Ford F-150Pickup TruckState Farm$978
Ford TaurusSedanState Farm$980
Honda PilotSUVState Farm$982
Honda CivicCompactState Farm$984
Ford FocusCompactState Farm$987
Honda InsightSedanState Farm$987
Chevy MalibuSedanState Farm$989
Jeep Grand CherokeeSUVState Farm$991
Toyota PriusCompactState Farm$991
VW TiguanCompact SUVState Farm$992
Chevrolet CruzeCompactState Farm$992
Honda OdysseyMinivanState Farm$992
VW GolfCompactState Farm$993
Nissan SentraSedanState Farm$994
Ford ExplorerSUVState Farm$995
Nissan JukeCompact SUVState Farm$998
Honda RidgelinePickup TruckState Farm$999
Toyota RAV4Compact SUVState Farm$999
Chevy EquinoxCompact SUVState Farm$1,001
Toyota CorollaCompactState Farm$1,003
Chevy TahoeSUVState Farm$1,004
Nissan VersaCompactState Farm$1,005
Subaru LegacySedanState Farm$1,006
Toyota TundraPickup TruckState Farm$1,007
Nissan RogueCompact SUVState Farm$1,008
Toyota SiennaMinivanState Farm$1,012
VW PassatSedanState Farm$1,014
Subaru WRXSports CarState Farm$1,016
Toyota CamrySedanState Farm$1,027
Nissan PathfinderSUVState Farm$1,030
Ford ExpeditionSUVState Farm$1,033
Dodge JourneySUVState Farm$1,038
Nissan FrontierPickup TruckState Farm$1,045
Nissan LEAFElectricTravelers$1,047
Audi A3CompactState Farm$1,058
BMW 1 SeriesLuxury CompactState Farm$1,070
Chevrolet CamaroSports CarGEICO$1,080
Audi Q5Luxury SUVState Farm$1,084
Honda AccordSedanState Farm$1,085
BMW X3Luxury Compact SUVState Farm$1,096
Ford MustangSports CarState Farm$1,111
Audi A4Luxury SedanState Farm$1,129
Dodge ChargerSports CarGEICO$1,145
Nissan 370ZSports CarState Farm$1,155
Nissan AltimaSedanState Farm$1,156
Nissan MaximaSedanState Farm$1,156
BMW 3 SeriesLuxury SedanState Farm$1,158
Chevrolet Camaro SSSports CarState Farm$1,165
Mercedes C-ClassLuxury SedanState Farm$1,240
Dodge Challenger R/TSports CarState Farm$1,250
BMW 5 SeriesLuxury SedanState Farm$1,251
Audi Q7Luxury SUVState Farm$1,299
BMW X5Luxury SUVGEICO$1,377
Tesla Model SLuxury ElectricState Farm$1,383
Mercedes AMG C 63Luxury SedanGEICO$1,389
BMW 7 SeriesLuxury SedanState Farm$1,546
Nissan GT-RLuxury Sports CarState Farm$1,553
Audi R8Luxury Sports CarState Farm$1,909

Cheapest Used SUV Car Insurance

The cheapest used 10-year-old SUVs to insure are the:

  • Honda CR-V: State Farm ($920 per year)
  • Kia Soul: State Farm ($929 per year)

MoneyGeek's research reveals that the Honda CR-V and Kia Soul consistently rank as the cheapest SUVs to insure, even for older models. Interestingly, despite their higher market value, SUVs often have lower insurance costs than sedans.

Data filtered by:Results filtered by:
Used Car Year Model:
Used Car Year Model:10-Year-Old Car
Coverage:
Coverage:Full Coverage
Honda CR-VCompact SUVState Farm$920
Kia SoulCompact SUVState Farm$929
Jeep WranglerSUVState Farm$931
Toyota HighlanderSUVState Farm$936
Subaru ForesterCompact SUVState Farm$948
Ford EscapeCompact SUVState Farm$950
Acura MDXLuxury SUVState Farm$961
Jeep PatriotCompact SUVState Farm$971
Honda PilotSUVState Farm$982
Jeep Grand CherokeeSUVState Farm$991
VW TiguanCompact SUVState Farm$992
Ford ExplorerSUVState Farm$995
Nissan JukeCompact SUVState Farm$998
Toyota RAV4Compact SUVState Farm$999
Chevy EquinoxCompact SUVState Farm$1,001
Chevy TahoeSUVState Farm$1,004
Nissan RogueCompact SUVState Farm$1,008
Nissan PathfinderSUVState Farm$1,030
Ford ExpeditionSUVState Farm$1,033
Dodge JourneySUVState Farm$1,038
Audi Q5Luxury SUVState Farm$1,084
BMW X3Luxury Compact SUVState Farm$1,096
Audi Q7Luxury SUVState Farm$1,299
BMW X5Luxury SUVGEICO$1,377

Cheapest Used Sedan Car Insurance

The cheapest used 10-year-old sedans to insure are the:

  • MINI Cooper: State Farm ($888 per year)
  • Hyundai Elantra: State Farm ($891 per year)

Cars that are easier and cheaper to repair typically incur lower insurance costs. The less expensive it is to settle collision or comprehensive claims, the lower the insurance costs for the car.

Data filtered by:Results filtered by:
Used Car Year Model:
Used Car Year Model:10-Year-Old Car
Coverage:
Coverage:Full Coverage
MINI CooperCompactState Farm$888
Hyundai ElantraCompactState Farm$891
Honda FitCompactState Farm$898
Subaru OutbackSedanState Farm$901
Subaru ImprezaSedanState Farm$963
Mazda3CompactState Farm$964
Ford TaurusSedanState Farm$980
Honda CivicCompactState Farm$984
Ford FocusCompactState Farm$987
Honda InsightSedanState Farm$987
Chevy MalibuSedanState Farm$989
Toyota PriusCompactState Farm$991
Chevrolet CruzeCompactState Farm$992
VW GolfCompactState Farm$993
Nissan SentraSedanState Farm$994
Toyota CorollaCompactState Farm$1,003
Nissan VersaCompactState Farm$1,005
Subaru LegacySedanState Farm$1,006
VW PassatSedanState Farm$1,014
Toyota CamrySedanState Farm$1,027
Audi A3CompactState Farm$1,058
Honda AccordSedanState Farm$1,085
Audi A4Luxury SedanState Farm$1,129
Nissan AltimaSedanState Farm$1,156
Nissan MaximaSedanState Farm$1,156
BMW 3 SeriesLuxury SedanState Farm$1,158
Mercedes C-ClassLuxury SedanState Farm$1,240
BMW 5 SeriesLuxury SedanState Farm$1,251
Mercedes AMG C 63Luxury SedanGEICO$1,389
BMW 7 SeriesLuxury SedanState Farm$1,546

Cheapest Used Pickup Truck Car Insurance

The cheapest used 10-year-old pickup trucks to insure are the:

  • Toyota Tacoma: State Farm ($944 per year)
  • Chevy Silverado: State Farm ($958 per year)

Consider insurers that specialize in pickup truck coverage, and evaluate discounts for safety features and low mileage to secure the cheapest insurance for your used pickup truck.

Data filtered by:Results filtered by:
Used Car Year Model:
Used Car Year Model:10-Year-Old Car
Coverage:
Coverage:Full Coverage
Toyota TacomaState Farm$944
Chevy SilveradoState Farm$958
Ford F-150State Farm$978
Honda RidgelineState Farm$999
Toyota TundraState Farm$1,007
Nissan FrontierState Farm$1,045

Cheapest Used Sports Car Insurance

The cheapest used 10-year-old sports cars to insure are the:

  • Subaru WRX: State Farm ($1,016 per year)
  • Chevrolet Camaro: GEICO $1,080 per year)

Drivers seeking affordable insurance for used sports cars should prioritize insurers offering discounts for safety features and low mileage. Comparing quotes from multiple providers can also help you find low rates.

Data filtered by:Results filtered by:
Used Car Year Model:
Used Car Year Model:10-Year-Old Car
Coverage:
Coverage:Full Coverage
Subaru WRXSports CarState Farm$1,016
Chevrolet CamaroSports CarGEICO$1,080
Ford MustangSports CarState Farm$1,111
Dodge ChargerSports CarGEICO$1,145
Nissan 370ZSports CarState Farm$1,155
Chevrolet Camaro SSSports CarState Farm$1,165
Dodge Challenger R/TSports CarState Farm$1,250
Nissan GT-RLuxury Sports CarState Farm$1,553
Audi R8Luxury Sports CarState Farm$1,909

Cheapest Used Electric Car Insurance

The cheapest used 10-year-old electric cars to insure are the:

  • Nissan Leaf: Travelers ($1,047 per year)
  • Tesla Model S: State Farm ($1,383 per year)

When you own a used electric car and want the cheapest insurance, consider the company's reputation, coverage options and customer service. Affordable rates matter, but so does a plan that fits your needs.

Data filtered by:Results filtered by:
Used Car Year Model:
Used Car Year Model:10-Year-Old Car
Coverage:
Coverage:Full Coverage
Nissan LEAFElectricTravelers$1,047
Tesla Model SLuxury ElectricState Farm$1,383

Cost of Used vs. New Car Insurance

Insuring a 10-year-old car could mean an annual saving of roughly $200 on insurance compared to a newer model.

However, note that not all vehicles depreciate at the same rate. Certain models retain their value better than standard daily-use vehicles. These cars don't follow the typical depreciation curve due to their unique appeal, limited production and higher initial quality. In addition, during the pandemic (2020-2022), the values of used vehicles soared compared to historical averages

Each insurance company sets premiums using its own criteria. While older cars, generally less valuable, tend to be cheaper to insure, their safety and anti-theft features can significantly impact the cost of coverage. If your used car lacks these features, insurers might increase your rates, anticipating a higher theft risk.

Unless you’re only getting liability-only car insurance, be sure also to consider repair and maintenance costs when choosing your vehicle and insurance policy.

Data filtered by:Results filtered by:
Coverage:
Coverage:Full Coverage
Category:
Category:Sedan
Subaru Outback$1,112$1,194$1,309
Subaru Legacy$1,298$1,363$1,447
Subaru Impreza$1,252$1,350$1,464
Honda Accord$1,393$1,355$1,507
Honda Insight$1,276$1,397$1,526
Toyota Camry$1,299$1,407$1,569
VW Passat$1,290$1,383$1,583
Nissan Sentra$1,334$1,444$1,611
Chevy Malibu$1,321$1,469$1,668
Nissan Altima$1,430$1,493$1,681
Nissan Maxima$1,476$1,688$1,891
ARE OLD CARS ALWAYS CHEAPER TO INSURE?

No, old used cars aren’t always cheaper to insure. When insuring an older vehicle, consider the following factors, all of which could increase the coverage of coverage:

  • Repair costs
  • Availability of spare parts
  • Anti-theft devices
  • Safety features

Insuring a classic car is also typically more expensive than insuring a daily-use car. Unlike typical daily-use vehicles, classic and luxury cars often don't depreciate in the same way; they may even increase in value over time. Standard car insurance might not provide adequate coverage for these special collector's cars. Instead, consider classic car insurance tailored to these unique vehicles. This form of coverage offers specialized protection, including coverage for spare parts and options to preserve cherished salvage, making it a better fit for these exceptional automobiles.

Car Insurance Coverage Options for Used Vehicles

When insuring a used car, there are a variety of options for insurance coverage, including liability, collision and comprehensive coverage. MoneyGeek outlined the details of these and other commonly available coverages below.

Coverage Type
What It Covers
Who It’s Ideal For

Covers damages to others caused by the policyholder while operating the vehicle

All drivers; this is a mandatory coverage in all states except New Hampshire

Pays for damage to the insured car resulting from a collision with another vehicle or object

Cars with higher value; usually required if you have an auto loan or lease

Covers damage to the car from non-collision events like theft, vandalism or natural disasters

Cars in areas prone to theft, vandalism or natural disasters; usually required if you have an auto loan or lease

Protects against costs incurred from accidents involving uninsured or underinsured drivers

Areas with a high rate of uninsured drivers; mandatory in many states

Covers medical expenses for the policyholder and passengers after an accident, regardless of fault

If health insurance is insufficient or non-existent

The 10% rule is a guideline to ensure you're not overpaying for car insurance — if your annual premium exceeds 10% of your car's value, it's likely too high.

With this rule in mind, you can evaluate whether you can afford to handle repairs out-of-pocket and consider dropping unnecessary coverages. Ultimately, this rule of thumb helps determine the right balance between adequate insurance and the car's depreciated value.

How to Get Cheap Used Car Insurance

There are a number of steps you can take to reduce your car insurance costs, including seeking out car insurance discounts. MoneyGeek outlined other steps drivers can take to make coverage more affordable below.

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    Shop around

    Start by comparing quotes from multiple insurance providers. Prices can vary significantly, so shopping around is essential. Regularly review your policy and check for applicable discounts, especially if your circumstances have changed (for example, driving less).

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    Choose an affordable car

    Insurance costs are partly based on the car's value. Opt for a model known for its reliability and low maintenance costs. It's a good idea to find out the cost of coverage before purchasing a used vehicle.

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    Install safety features and anti-theft devices

    For older models, upgrading your car with modern anti-theft devices like an engine immobilizer can lower insurance costs. Installing safety features such as airbags, anti-lock brakes and stability control can also contribute to reduced rates because these improvements signal to insurers that your car is less risky to insure.

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    Raise your deductibles

    If you can afford to, opt for higher deductibles. This will lower your premium but increase how much you have to pay out of pocket in the event of a claim. Optional collision and comprehensive coverages have separate deductibles, but liability does not have a deductible.

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    Look for discounts

    Many insurers offer car insurance discounts for various reasons, like having a clean driving record, bundling policies, being a good student or installing anti-theft devices in your car. Inquiring about discounts can lead to significant savings.

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    Reduce coverage on older cars

    If your used car isn't worth much, consider dropping collision and comprehensive coverage. Paying 10% more than your car’s actual cash value isn't cost-effective, as cars over 10 years old may be less expensive to repair out of pocket.

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    Pay annually

    Paying your premium annually rather than monthly can reduce administrative fees and total costs.

FAQ: Cheapest Used Cars to Insure

Get insights into finding the best cheap coverage for your used vehicle with MoneyGeek's answers to the following commonly asked questions.

Who typically has the cheapest car insurance?

Which old car has the cheapest insurance?

Which type of car is the cheapest to insure?

What kind of coverage do I need for a used car?

Why is my old car so expensive to insure?

About Mark Fitzpatrick


Mark Fitzpatrick headshot

Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.