Insurance woes

OK, insurance really pisses me off:angryfire

For me to have an MR2 S/C ('89), for under 5000km a year, it is $2500. Thats just a little less than the car itself! Even and 89 Topaz cost $1900!

So my dilema is this: Should I save my money for school/investments, or go and buy the damn car for $3000, plus $2500 a year. I am only making about $8000 a year. I would also have to buy gas, and the car needs work, too (about $1000).

Help me decide:rolleyes:

I would say save the money. I am just glad my car is only $86 per month to insure.

I would be thrilled to get that. $100 a month was what I was expecting. After all, my driving record is perfect (until proven otherwise). I am begining to feel my good sense taking over, and I will be without a car till after university.

But now my emotional side is kicking in, telling me to get it. Arrghh:mad:

Well the reason I get that rate is because my car isn't considered a sports car by the insurance company even with the turbo. :D

Originally posted by Chris
I would be thrilled to get that. $100 a month was what I was expecting. After all, my driving record is perfect (until proven otherwise). I am begining to feel my good sense taking over, and I will be without a car till after university.

Your only 16 years old though, you have no driving record. Your buying a two door sports car, what do you think you are going to get charged? You would be lucky to get a dodge spirit for less then $100.

Sorry but you have to put in the time. When you reach 21 it will drop significantly and then again when you turn 25.

Actually,a 89 Topaz with 4 doors and 98hp is still $1900, so the MR2 isn't much more. I think I will end up going car-less until I'm older. :( But I'm not happy about it:mad:

I am 16, perfect record so far (i am almost 17), COMPLETE coverage (even uninsured motorists coverage), i have a '98 firebird formula, and i am the primary driver on the insurance....its under $500 a year, about $450.

I think you should avoid it, if you invest it, it will probably boom putting you behind the wheel of a new car in no time:)

450 a year for a Formula is an impossibility, unless you have an extremely low mileage specialty plan. But it's going into stocks, and a bit for retirement.

I know its really low, but its the truth. Its probably b/c we had 4 drivers on 3 cars under the same insurance carrier, and as you add cars to the plan its gets cheaper for each car. One of my parents was going to put down their name for primary driver and me a secondary to keep it lower, but to their amazement its was cheaper to have me listed as the primary driver b/c they have had small accidents in the last 3 years (1 each).

Well, you arevery lucky. In the past, we have had a house fire, 4 car accidents (not at fault for 3, partial fault for one), so I guess I was SOL from the start. But if my dad was the primary driver, it would be 1000 a year. But they wouldn't let him do it:(

cy, i would think that you also have liability only? that decreases the cost of insurance dramatically (as opposed to comprehensive).

chris, i would just go carless until you have more experience and are able to get better rates (and better afford it!). does canada have insurance discounts for being a good student, driver's ed, etc?

either way, it seems like a prudent choice to save/invest the money for school.

$1000 to fix?? If I am buying a used car, I would not get one that already needs work. You can spend the $1000 to fix it now, but then who knows what comes up next month?? What all is wrong with it that it needs that much work?????

bluetwo- i have comprehensive coverage, everything, even uninsured motorists insurance. My parents feel really strongly about having complete coverage, they feel it is really worth it.

cy, good policy, and wow, that's very cheap... i pay about $1000/year for comp on my 93 mr2 turbo (i'm 26).

Well, it is a smaller car plus its turbo. Anyways, like i said its probably b/c we have 4 people on 3 cars (everyone is on each car), then we added mine and as you add drivers and cars to the policy it gets cheaper.

I guess that makes some sense. I was expecting a grand, thats what my mom pays for comp. with 300 deductable on a 99 Grand Am with V6. So since I'm young, 10 years and, 700 more on the deductable, liability, and about 75000 less km a year, a grand was reasonable. But no:rolleyes:

We have drivers ed, and it helps. Without it, insurance would be a lot more.

Originally posted by Chris
So since I'm young, 10 years and.....

:huh: ?!?!?! Did you mean 19 and accidentally typed 0 instead of 9???? :confused:

I meant the car is ten years older than my moms, with just liability for under 5000km, (my mom is comp. for 80000km a year)

I can see how the first post was confusing, though:)

Ok WHEW!!!!! I was ready to have a cow thinking to myself "ok 16 - 80 year olds are bad enough....now 10???????????????" :lol2:

Man cy that price is unbelievable. For me on my 98 civic ex, with full coverage i pay around 2500 grand a year. I and both my parents have a perfect driving record and i get drivers ed + good student discount. Im also a 16 year old male, but still. It better go down soon.

2500 grand = 2 500 000 :eek:
K/k, but its still funny:-)
Even to put me on as a secondary driver on the cars we already have is an extra $500. If I use the car 100 times, thats $5 a pop.
It is also kinda annoying how ppl here have cars, insurance, and gas paid for by their parents. They say, "Just get one!", they don't realize that it would cost me $12000 for 2 years, and even then, they don't believe its that much.

Oh, also, my parents have been in accidents (not their fault), but it still raises the rates. Still, their insurance was cheapest (we have 2 cars and 3 homes (explanation: our house, our old house which is rented, and my grandpas house, which will be sold when he dies))

Okay i live in Ontario Canada and im 16. Insurance on my 1989 Sunbird SE 2DR is (get this) |$3700| a year!!! I pay just over 300 a MONTH for that damn thing. :(