jniamehr

Well, I just turned 17 today, and my parents have decided to buy me an 8... Im a pretty responsible kid, I never get into trouble I dont really speed unless its under a controled enviorment, and I am the "trusted kid" of the community... I made the parents proud when I appeared in the NY Times, about my website www.newsbyteens.com so it pushed them to buy me this car :p Isurance is an almighty killler, my father is very good friends with our auto insurer, and we both have a feeling he was trying to rip him off, his rate wasnt competitive at all... I was wondering if you guys had any suggestions as to what is the best method, this car will be our third... and I dont mind putting my dad as the primary driver of my car and me of his (he has a 2002 Toyota Camry) and my mom has a 2001 MB ML320, so any suggestions, cause what they want is just pure theft...

Astral

How many years licensed? Shop around... you should just call around different companies and go to a few different insurance agents.

But don't expect cheap rates. After all, you're 17, relatively new cars, full coverage, and male (I assume?).

When I was 20 and had my first new car, I was paying $3000/yr in state of MA, so I can't imagine NY being better (I had a chance of registering my car in NYC and I was being quoted $6000/yr).

Most importantly, stay aware and pay attention (at speed or otherwise), keep the record clean (won't be easy in a flashy RX-8), and hope the rates drop.

Pirate Rex

As I recall, my first car (79 Mustang Pace Car w/ 302) was a bitch to insure @ age 16. I worked to pay for insurance and gas with very little left over. I think it was about $1,800 per year in 1985 numbers. This was with a rinky dink insurance company that was probably just a front some other illicit activity (remember Miami in the 80's... I lived Vice City). :D

Call around, drive safe, and be careful. Before you know it you'll be 30 and rates will become reasonable.

jniamehr

Gee thanks, not the kind of stuff I really want to hear lol... I dont mind to go for rinky dink insurance as long as I can say Im insured you know.... They want something like 4000 bucks to insure me

Pirate Rex

The only problem with rinky dink is if you get into an accident or have to file a claim, they will never want to pay. That happened to me, and from that moment on State Farm has been my insurance provider.

Good luck.

mmmdowning

Get a beetle, at 17 your just going to have to pay high rates till your older and clean record. We all grew up with high insurance.

Good luck

jniamehr

Yea they are really the best, and thats what my dads friend owns... a state farm insurance agency... I guess Im going to need to find a way to manipulate the system to get a lower rate... Since we do have an umbrela policy it might be best to have me as the primary for his car and him as the primary driver of my car, regardless we are all still insured for each others cars...

Outlaws eXtreme

Seems like your parents are well off already, they are buying you a new 25k-30k car afterall... so a bit higher premium for insurance shouldn't hurt too bad. Just don't get into any accidents at all.. or you can be sure you're driving a Dodge neon afterwards.

Btw, I just asked my insurance company "Mercury Insurance" and they said for a 17 year old male, new car, livining in the suburbs in New York, would be about 5500 to 7500 a year, depending on your existing driving experience, how far you'll be driving, etc etc. That is some scary insurance rate.

realdeal

you might want to ask if they have anything like a student discount, or a discount if you are on the honor roll or something like that. That should bring the price down a little.

Outlaws eXtreme

If you get the AT version instead of the Manual it will also decrease the insurance rate. Like the previous poster said, bring your report card and show them you're an honor roll student that will help. Also the color of the car might help in some cases...

Pirate Rex

Actually, maybe it is a Florida thing, but the AT and Manual make no difference here. I made sure to ask them to double check b/c of the HP difference. Agent said no, there is only one rate for the RX-8

jniamehr

Well then maybe the quote I got was pretty damn good 6000 for all three of us for the whole year....

Outlaws eXtreme

6000 for which cars? Rx-8 and what else? That seems pretty high... see how much it is with just your parents and not you and the 8, it would be a lot cheaper.

fan

Couldn't you list your parents as the primary drivers on ALL the cars?

That's what my mother did when I was 16. I guess its not exactly legal/ethical, but it worked.

itsallaboutgary

i turned 17 in august and got my car in october...ill update you with the rates we have for our insurance company. and to warn you...its really high! =/

Crichton

No matter what insurance company you go with; being male (I'm assuming) and being young, your insurance rate will be high. When you turn 25, it will drop some, and also at 30. If you get married, it might drop some.

Outlaws eXtreme

in the end I doubt it would matter much, it all depends on whether your parents are willing to fork over that cash... like I said before, obviously you are pretty well off for your parents to buy you a 25k+ car + 6k insurance rate yearly + maintaining the car + gas prices...

Unless you make the money yourself, then by all means go for it.

jniamehr

Ill try to consolidate all the answers here....

The three cars are RX-8, Camry XLE, MB ML320

We tried listing them as the primary of all three, but they didnt believe us lol

itsallaboutgary, I really appreciate that

Crichton, I know that, but I like to get bargain

Outlaws, I know its gonna be high no matter what, but I also like to be an educated consumer, and find the best bargain I can, hence the reason I posted my question here. Yes thank God we are very well of and God does bless us a lot, and believe me I know that, cause we were not always this way... Yes they are willing to fork over the cash, but also well, Im a persian-jew and we love to bargain to the last penny that we can... lol, not to be stereotypical or anything...

Outlaws eXtreme

I'm Taiwanese, trust me when I say that I understand bargaining for the best deal possible. I wouldn't budge on the car until I got 200 over invoice... took 4 hours before financing, but I got it for what I wanted. :P Good luck on the car, perhaps you can put your parents on the newer cars as primary, and let you sign up for the lower insurance car,... the Camry.

DrIfTnDrAfT

I was quoted today, i went in and talked to them. Im 18 with clean title and everything, no problems been driving with my license since 16. For me to own an 8 on insurance it would cost me $328.37 a month which i dont think is too bad by myself for a new car. If i trade in my focus and get the 8 added to my moms car its $241.54 a month. That is soo reasonable!

Pirate Rex

Yeah, but what a trade off!!

Pirate Rex

At age 34 and married (for now) the rate I got quoted for from my State Farm agent for lease coverage on an RX-8 GT is $115 a month. I am just a bit south of you here in Miami.

Man, they are killing you young guys with the insurance rates.

Outlaws eXtreme

Also in New York... cold weather.. etc. Imagine insurance in Wyoming or some other boondock place... cheap as heck.

Crichton

Just out of curiosity, but have you had any accidents recently? I am with State Farm also, single, and 27 and was quoted $95 a month. Maybe it's because I have the multiple line discount, basically an umbrella policy.

jniamehr, you might also check places like Progressive since they basically shop around for you. That is, if you haven't already.

Fleche

I went with Metlife, they still don't have RX-8 listed in their system. I had to tell them it's a 4-door car, (well it's true!) they based their policy on the car's value I think, I'm paying about $120 a month.

Anyway.
29, Male, Single

100/300/50 for Body Injury/Property Damage.
500d on Comprehensive
1000d on Collision