^^
Geico is 170 for my current car.
Thanks for the advice =D
At least I can cut a bit off of my current price now.
Then with the 10% off course… hmm.
Sounds good.
thanks <3
Here’s my four cents.
I wish people would have told me this shit when I was 20 but here goes.
Your 20 years old, you probably don’t have alot of bucks if your concerned about the price of your insurance bill. Thats fine. We have all been there.
Insurance prices are based mostly on credit, and on your driving record, and the amount that you cost your last insurance company. The actual dollar amounts of your claims are spelled out exactly on your record.
If you have no tickets and no wrecks thats good, but the no credit thing makes the insurer think you are a risk not to pay the bill. Its terribly important to build and get some good credit.
My advise is not to buy a new 20k+ sporty car that you have to make payments on when your 20 years old.
Buy a piece of shit 90’s honda and put snows on it, and put basic Geico insurance on it, and call it done.
Take that 400 dollars a month for insurance, and the 300 dollars a month for a car payment, and go invest in real estate. The rest of the money that you don’t know what to do with, stuff it into an IRA and forget about it.
You’ll thank me later, but for now you’ll think i’m a dickhead, because your just a 20 year old kid.
I’m 25, and drive a paid off saturn ion ($0 per month), and my monthly insurance for full coverage minus glass is 56 dollars. I don’t make monthly payments on the insurance, I pay off the full six month balance of 336 dollars.
I’m not a loser bookworm, I just got rid of a 340 horsepower thunderbird this past fall. That thing was 45 dollars to insure I think.
When your a kid, if you must have a fast car, then build a sleeper honda or something.
Buying an EVO or anything turbo is suicide.
Especially one with 18 inch summer tires when you live in buffalo, lol.
Talk to testicle
Well.
I get 12k when I turn 21 from an accident earlier when I was entering high school [not a car accident or anything]
and I want to have a car that I know won’t take a shit on me when I’m in the middle of school paying for it and all.
That was a lot of my thinking too.
So I can come up with another 10k pretty easily from full time at work.
Thanks for the advice btw =)
It doesn’t make you sound like a dick. Because that’s kind of the way I was thinking. I don’t care about it having power and such. I’m after AWD + Manual =S
Power is a plus for sure, but eh. My current car has more than enough for my needs tbh.
While you’re in college you will be SO much better off with a reliable and cheap car than trying to insure something fast and fancy. My college cars were an 85 Tercel and a 92 Geo Tracker. I graduated high school in 95 so neither of these were very new, but they were cheap to insure (liability only on the Tercel) and reliable as hell.
Graduated without a bunch of debt, bought a nice boat when I got my first good job, then a house, then the GTO (and a bunch of other smaller toys). A major reason I could afford to do these things was I had established great credit while I was in college by not burying myself in debt trying to afford a flashy car while working a part time job and going to school full time.
Well, when I say “cheap” I don’t mean a $500 car. But for 6-8k you can find something that will last for your college years with nothing but oil changes and brakes and be ok in the eyes of the insurance company. And probably still be worth a few grand in trade when you graduate and find a decent job.
^^^yes reliable and cheap = stock ef/eg honda under 2k
It’s not a difficult formula.
Cheap, reliable, fast.
Pick 2.
Why not keep the Grand Am until it shits the bed? Get the cheapest insurance you can for now. Get a credit card and put gas on it. Then pay that off every month or two. This will build your credit. Put your 10K saved and 12K settlement into a online savings account. They get around 5% interest. That will give you about $95 a month interest. Do this until your grand am shits itself. Then sell the car for what its worth. (Maybe 500 bones) If the car lasts you only 2 years you will have around $25K in the bank and you would have saved $9600 (400 insurance a month for 24 months if it stays the same). Not to mention now you have credit so your rates will go down.
Now take your $25K and spend maybe 5-6K on a newer car that you like. Take that 20K and let it sit in the bank. In another 2 years it will grow again to about 22K brining you back to where you started. Now take that money and what ever you can add to it, say your at 25K again and buy a 80-100K house. You have 25% of it paid already!
Word
:eek: wtf are you serious? I pay 130 a month with Progressive for basic liablility only with a clean record.
If AWD, saftey, and reliability matter to you, pick up an NA subaru.
I have a '96 Legacy (5 speed with only 111k on the clock), and a '91 MR2 on my Insurance thru Progressive. I am 22 and have a few tickets to my name. I pay $120 a month for liability on the Subaru, and comprehensive and glass on the MR2.
Well. at the moment the car runs + shifts perfect. New tires, Only thing it will need is new brakes within the end of the year. So I can see it lasting a while. Has about 97k on it.
Coming up on 100k mile maintnence.
Best advice of the day.
I loves you. =)
Have any recommendations on places that have good interest rates online?
I’m with bank of america as of now.
I’ll see what kind of rates they offer.
Thanks a bunch of the advice :]
Should I take collision off the grand am you guys think?
Considering It’s KBB is like 4k or something.
With a 500 deductible, Probably not even worth keeping it on there.
That’d nearly cut my insurance in half ;/
Can you afford to buy a “new” car if you get in an accident and total the grand-am?
A crappy one, yes =P
The same kind of car I have now, no…
Not without a bank loan or something.
At least how geico does it, i cant speak for other agency’s cause, well i dont work for them, but I can tell you credit checks are not a huge factor. They go by driving exp. you could be 35 years old, but if you got your lic. at age 33, expect it to be high. Credit is important, but not high on the sales list. Total time driving (again, not age) are THE biggest. Its based off statistics. Color of the car wont matter, mileage wont matter either. Distance driven WILL tho. Tell them that you will use the car for a pleasure vehicle. Its nto driven to work or school at all, and you use it as a summer car for “ehh…maaaayybe 5k a year, that might be pushing it. yea 5k miles total a year”. They may ask you again, but they have to believe you, and factor that in. Use a specific VIN number if you have it. You can then drive it to work, school, anywhere. If something happens while your at work or w\e they still legally have to cover you. They cannot say, no you said you dont drive it to work, f off were not fixing your vehicle. The NY State insurance board would fine them big time. Tell them you are with progressive now and they will basically see that you are notND new to insurance. Also, it may be possible to get a spin off - what that is, is when your parents put you on their insurance, then a day later, call up and have them say, my son needs his own insurance, is a spin off possible. They will or SHOULD say yes because geico wants your business. This will use your parents credit score, but give you a good price. If god forbid you total your car or something happens, their policy and credit score are in no way shape or form harmed, because the new spin off policy is in your name. Hope this helps. Sorry its all confined to one paragraph, im at work, on a 10 min break, typing up a storm over here. PM me if you have any more ins questions, Im licenced for NY state
edit
nevermind.
grand am has a LIM leak now.
and tranning bangs in to second.
But i’ll just take care of the lim i think o.O
i dont feel like readin the 3 pages of blah blah blah…
if you’re younger, you dont need a new speed6…if you want something decent in snow and cheap on insurance…get an older car and save up for a nice car when you can afford the insurance of having a nice car without having to post up bitching about it.
given that both my cars added together don’t equate to half the value of a speed6, i’m still paying $85/month, total, for both cars added together, with full coverage (including collision)…
having to fix shit sucks, but if you wanna save money, old cars are dirt cheap on insurance…
just my .02…
You say that like we should be impressed…you’re the one paying for it…
I pay less than that for an MR2, RX7, and Lotus combined.