would it be worth it (to wait until I reach 21 to insure a WRX?)
07-05-2004, 10:33 PM
#1
Guest
Posts: n/a
would it be worth it (to wait until I reach 21 to insure a WRX?)
used WRX - ~18000(before haggling) (5spd, blue, 30k)
per month breaks out to around 340 @ 5% interest.
insurance on said WRX
per month 380$ for roughly 9 months.
per month 220$ after 9 months is up(when i turn 21)
so for 9 months.. im getting bent over w/o lube or reach around. (~700+/month_)
after 9 months.. im still get bent over, but they are atleast offering a reach around this time.
(~550/month)
(those are just insurance quotes.. not sure if there is much of a diff between quotes and actual payment.. but it gives you an idea.)
basically.. would it be worth it to wait it out..
per month breaks out to around 340 @ 5% interest.
insurance on said WRX
per month 380$ for roughly 9 months.
per month 220$ after 9 months is up(when i turn 21)
so for 9 months.. im getting bent over w/o lube or reach around. (~700+/month_)
after 9 months.. im still get bent over, but they are atleast offering a reach around this time.
(~550/month)
(those are just insurance quotes.. not sure if there is much of a diff between quotes and actual payment.. but it gives you an idea.)
basically.. would it be worth it to wait it out..
07-06-2004, 12:30 AM
#2
Registered User
Join Date: Jul 2004
Location: Socal
Posts: 12
$380 sounds a little high..I'm 18 and I pay $240/month and I've totalled one wrx and had about 4 tickets...what state are you in and hows your driving record you might want to search around for a better insurance company.
Last edited by Sean182311; 07-06-2004 at 12:33 AM. Reason: didn't pay attention sawy
07-06-2004, 03:16 AM
#3
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iTrader: (38)
Join Date: Oct 2003
Location: rightBehindYou, HI
Posts: 7,783
Car Info: 1973 Huevo Ranchero
due to what i think "discriminatory"- your age bracket keeps you from decent insurance rates on a wrx- although labeled a sedan, insurance companies know its true form- performance sedan-
if you are buying this car completely on your own might i suggest you try progressive insurance- if you pay the policy in full they are pretty good on discounting the policy(if you can afford to pay in full) you may even try to see if you can get "overadvanced" on your auto loan to cover for insurance cost. and that depends if you have had other auto loans prior to this one- and assuming you have a good crdit rating.
if you are established in terms of income and you can justify the costs then by all means go for it- i believe its worth it cuz i have two subarus. . . but if your financial situation doesn't call for it i advise you to stay away for a while(from wrx... maybe 2.5 rs) ironically speaking since i sell subarus, don't make that fatal mistake of burying yourself financially for a piece of property(which can turn into a hobby) that will only depreciate- unless you justify the costs reasonably
thats my nugget of wisdom
aloha from the summit of Mauna Kea
if you are buying this car completely on your own might i suggest you try progressive insurance- if you pay the policy in full they are pretty good on discounting the policy(if you can afford to pay in full) you may even try to see if you can get "overadvanced" on your auto loan to cover for insurance cost. and that depends if you have had other auto loans prior to this one- and assuming you have a good crdit rating.
if you are established in terms of income and you can justify the costs then by all means go for it- i believe its worth it cuz i have two subarus. . . but if your financial situation doesn't call for it i advise you to stay away for a while(from wrx... maybe 2.5 rs) ironically speaking since i sell subarus, don't make that fatal mistake of burying yourself financially for a piece of property(which can turn into a hobby) that will only depreciate- unless you justify the costs reasonably
thats my nugget of wisdom
aloha from the summit of Mauna Kea
07-06-2004, 04:50 AM
#4
Guest
Posts: n/a
this was only through 1 insurance company. state farm. i havent yet checked progressive, farmers or others.
i checked geico last night after i posted this. with a 650$ up front payment, my monthly payments are only 326$. which is a bit more reasonable(in the end i still end up paying more than statefarm though.. so..)
im going to call the others tonight when i get back from school.
sean - what insurance do you go through and are you on your own policy or your parents? this is my own + its for alaska(where insurance is always higher).. and i will have no tickets NO tickets on record when i buy it.
the 700$ a month will be tough for the nine months until i turn 21 but i could do it. i dont pay rent or any other bills that come with owning a house/apt.(military), the only bills that i will give myself are HOPEFULLY a cheap phone bill(30$?) and a cable bill(80$?)
after i turn 21 though, it wont be that big of a deal. 500$/month for car+insurance, + ill be making more money
i checked geico last night after i posted this. with a 650$ up front payment, my monthly payments are only 326$. which is a bit more reasonable(in the end i still end up paying more than statefarm though.. so..)
im going to call the others tonight when i get back from school.
sean - what insurance do you go through and are you on your own policy or your parents? this is my own + its for alaska(where insurance is always higher).. and i will have no tickets NO tickets on record when i buy it.
the 700$ a month will be tough for the nine months until i turn 21 but i could do it. i dont pay rent or any other bills that come with owning a house/apt.(military), the only bills that i will give myself are HOPEFULLY a cheap phone bill(30$?) and a cable bill(80$?)
after i turn 21 though, it wont be that big of a deal. 500$/month for car+insurance, + ill be making more money
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