Which Chevrolet Has the Lowest Insurance Cost With a Poor Credit
As one of the big three U.S. automakers, Chevy has a wide variety of vehicles to satisfy any driver. Many are very affordable, not counting typical ownership costs like maintenance and auto insurance. How your insurance provider determines your rates highly depends on certain factors, including age and where you live.
Certain things can increase insurance rates, such as a traffic violation or an at-fault accident. You’ll likely pay higher insurance premiums if you don’t have, or maintain, a good credit score. So, if a Chevrolet is something you’re considering, what’s the best Chevy to buy with poor credit regarding insurance?
Chevy insurance costs at a glance
If you’re under 30, CarEdge says you’ll pay less than $2,000 to insure the average Chevy each year. This data assumes you’re insuring a new car and driving it for 13,000 miles a year or less.
If you experience a dip in your credit score, you could pay over $3,000 for insurance if you’re in your 30s or 40s. Drivers around the age of 25 with bad credit could mean you spend $4,366 to insure a Chevy car each year. However, your rates can still be lower than average, depending on the specific model.
Which Chevy car should you buy if you have poor credit?
On average, a Chevy Trax only costs about $2,500 to insure each year if you have poor credit. A 2022 model starts at just $21,700, and its engine got a nice horsepower boost for the latest model year. If you’d like something a little bigger, the Chevy Equinox is a good compact SUV choice.
With poor credit, the Chevy Equinox is still much cheaper to insure yearly than its siblings. In total, you could only pay $2,682 annually. The Chevy Trailblazer is also very affordable in terms of insurance, with yearly premiums amounting to $2,805.
The Chevy Spark is your best option
With a below-average credit score, you’ll likely pay around $2,419 to insure a Chevy Spark. That’s almost $600 cheaper compared to insuring a Chevy Sonic, another affordable hatchback.
Once you get your credit back in good standing, your yearly premiums may only add up to $1,408. It usually costs an average of $2,067 to insure a Spark hatchback after an at-fault accident. For comparison, a Chevy driver with good credit in their 40s would pay over $3,000 for insurance after such an event.
Chevy Spark production officially ended last summer, but that means you might be able to get a good deal on used models. The Spark has a 98-hp four-cylinder engine under its hood, paired with either a five-speed manual transmission or a CVT. Models with the manual transmission can get up to 33 mpg combined.
Car and Driver also recommend the manual transmission over the CVT because of its smoother and quieter operations. While Car and Driver weren’t impressed with the Spark’s speed, testers approved this hatchback’s braking performance and handling. With a total length of just 143 inches, it’s also one of the most accessible cars to drive and park in a busy city.
The Chevy Spark can only seat four riders, and the seat cushions are predictably basic. The higher trims have synthetic leather seats, but there’s no way to improve the tiny second row. Still, Car and Driver says that the Spark’s overall interior quality is excellent at its price point.
Each Chevy Spark also comes with Bluetooth and smartphone integration support. However, you’ll have to buy a higher trim if you want any ADAS features or power windows. Fortunately, even the fully-loaded Chevy Spark is more attainable (and cheaper to insure) compared to other hatchbacks.