Overhaulin'

Insurance rates of a new leased car vs. a used car?

I am looking for a car to drive, and it's my first car. I am wondering what the difference in insurance costs would be between: a) A brand new leased car b) A fairly old used car I know it depends on the type of car, but lets go with a honda accord, because that's what I would buy/lease. Also, I am 16. Is it possible for my dad to "own" the lease but designate me as the driver of the car?

Public Comments

1. If you lease you have to carry full coverage and $300,000 coverage per accident which costs a lot more where as you don't have to carry the $300,000 on a used vehicle, usually it's full coverage and $100,000 on a used one if you finance it, if you pay cash for the vehicle you can get away with just paying liability insurance if you so choose.