Deftones

iTrader: (2)

You're in California... get Wawanesa. I pay 1024 a year.

ROSELL0522

Husky606

DAMN, im turning 19 this july and i was quoted $230/month...obviously under my parents insurance. i wont be getting the Z til next spring cuz im saving around $15K for a down payment so i am assuming just the car payments and insurance will be somewhere in the neighborhood of $550/month...but thats also not considering the gas/maintenence costs every month...o well, just gotta work a little harder this summer for a bigger down payment...thats with progressive by the way and they seem to be more expensive than our current insurance company

lsujim

Freaking A!! 300+/month? I pay $150/month for 3 cars and one of them is the Z (2 full coverage, 1 liability). Do you have a lot of tickets or something?

hardrock905

Really. That's just crazy talk.

TurboTrey

Bike insurance is really high on sport bikes. If you are young and haven't been riding before you are looking at probably $300 a month for full coverage. Reason is if you lay the bike down or anything you are looking at minimum of $1,000 to fix it. Liability which is probably what the lien holder will require is cheap because if you hit a car all you are really going to do is dent a fender but the bike will be trashed.

Morningglorie

If you're in debt, then you CAN NOT afford it. Pay off your debts first before you even think about anything else.

"Afford" means able to pay cash for something, especially when you're talking about depreciating assets. Increasing your debt load is not a measure of affordability.

As was said above, you're one paycheck away from disaster. Get your stuff paid off, build up a savings account, build up a large downpayment or even better, the total price of the car, and THEN buy yourself a Z if you still even want it at that point.

zeekle

If you can pay 600 on 3 payments then you can pay 600 on two and get them paid off faster.

Really you don't want to go into the dealership with no money down and buy a 350z(or any car for that matter)

tomiegunzz

iTrader: (2)

Then doesnt that mean that your parents own the car? The car would be registered under your parents name right?

Kegsbane

Jesus Christ. I pay less than that for SIX months. It is on a combo policy with my truck, but still...

The question is, should a person with such ungodly rates have such a powerful car? My opinion is, hell no. You will end up enjoying it less/not at all because of all the huge payments you have to make, plus your other loans.

ArrumnDark

Hmm. Maybe State Farm is just high (American Family in NV was much worse, actually).

No tickets or accidents, no claims at all.
I just got a quote from Esurance.com, and they say less than $100/mo for the GA (currently paying $220 for GA+Life), and I think around $170/mo for a Z (down from SF's $340 Z+Life quote).

The life policy is only like $15, but saves a percentage on the car, and more than pays for itself (several times over).


I sent in a quote request to Wawanesa (I'd never heard of them before? )


I'm sure than none of the decisions I will make are going to be the best financial decisions. However, I'm (obviously) not all about making the best financial decisions! :P I have to have something worth having - and if I can make the payments on it with a decent bit to spare, it's worth it to me.

I've wanted the Z since the beginning! Instead (due to my lack of research), I ended up getting a much-less-fun Celica, for not-much-less price.


So, I will tell myself that I will be happy with the Z long term. It can stay stock (only want a stereo upgrade - I love the stock sound, and the performance is more than enough for me, as the only nearby track is rather far away).



Fact is, if I save up enough money to buy a Z outright... I won't. I will put that money down on a GT-R, as it would be 'in-range'.
I'd prefer to have a GT-R, but it is out of my price range. Maybe someday, but not something I'll be shooting for until I'm comfortably settled, own a house, etc. etc.


Hm, wow. Wawanesa quoted me 938/12 months on an 07 Z coupe. Are they any good? (having never heard of them...)

mechachrome

+1

07TouringZ

+1

irish27

Get out of debt now. Trust me, it will be the best thing you ever did for your long term finances. It will also likely raise your credit score, making it cheaper for you to finance vehicles in the future.

md350

As some others said you may want to look into other insurance companies. Unless you have a bad driving record, there's no reason it should be $300+ a month. I am 20, have my own insurance policy and its only $200/month.

gotbooost

iTrader: (2)

I suggest getting quotes (learned from here http://eshoppingtips.com/auto_insurance.php)

Also when you get your quotes, you may want to consider getting a super cheap 2nd car if your insurance is that bad. In CA it's about a 20% discount for "mulit-car." I have a 1990 Honda CRX on my insurance and I'm paying about 500/6months. Without the crx I believe my insurance would have actually gone UP. Doesn't hurt to ask when you're getting your quotes.

I also have my deductible @ 1000 (highest offered) but you might find some insurance companies that offer 2000 dollar deductibles. Good luck!

WYZIWYG

Read your post again. Anyone who chooses to own a car over becoming a homeowner obviously sat on that short bus as a kid
You can buy a home, acquire some equity and purchase any kind of car you want in cash. A home is a tax write off and an asset, your car is nothing but a liability. Unless you have some type of sponsors that are "paying" you for the car. Get your priorities straight....

zeekle

QFT

To the OP I am not sure why you even bothered to post this except to make shivers run up the wallets of those of us with a even a small amount of money management skills.

Theres a lot of people here that will tell you that you should be debt free and pay cash for your cars. While this is a vaild goal, it is not always what we want and life is short.

That being said, man you are just heading headlong for financial disaster. I wish you luck on your journey. Be sure to video tape the repo man when he shows up to take one of your cars.

Oh and if you have crappy credit that can affect quotes on insurance..

ArrumnDark

I just can't shake the feeling of it being better to have fun before drudgery.

Saving for a house would be depressing! Driving a ho-hum car for years on end, just to spend all that on a house... then continue driving that ho-hum car for years more, to finally get a nice car... Seems unnecessary.
It will help in the long run, sure. What if I die before that? :P


I'd rather have a nice car right away... some years to pay that off... then years of saving (but having a nice car this time), then a house.
Ultimately, I will pay more in the long run. But that's the way quick service works!
If you want to take a flight (or have some work done, or whatever) "sometime," you can get a much better price than if you want it NOW.



Plus, in the event that I die early, I will have already been experiencing the fun part, not waiting for it.

Like eating dessert before dinner, only over a much wider time frame :P


I know... don't buy what you can't pay for.
I can pay for it without min/maxing the budget, so I am comfortable.
If something changes in a year, my decision may also change.



Thank you for the insurance suggestions, I've much lower quotes, soon to be rates, for the GA now, and the Z later.

Also, thank you for the financial advice!
I'm not really heeding it, but at least I'm not getting a bike? :P

I guess it depends on each person, their situation, and their goals.





Thanks!