insurnace an 18 year old
08-18-2010, 02:30 PM
#26
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From https://www.rx8club.com/new-member-forum-197/new-potential-owners-start-here-202454/
Add car payment
Add insurance
Add winter wheels and tires (or just tires) if you are driving it in the winter.
Cost of Ownership.
The cost of owning this car isn't low. It's not as high as some people think, but it is alot higher than people expect that aren't actually thinking it through. DO NOT MAX OUT YOUR FINANCES purchasing this car. Any car really, it's stupid. But here are the costs you should have over the first 30,000 miles:
- 1,764 gallons of gas - $5,294 (using 17mpg and $3 per gallon)
- 40 quarts of oil for oil changes - $160
- 10 oil filters - $120
- 30 quarts of oil to top off with - $150
- 4 spark plugs - $80
- 4 coils - $140
- 4 plug wires - $60
- 4 tires - $800
- 2 quarts of transmission fluid - $20
- 2 quarts of rear diff fluid - $20
= $6,844
Plus any other failures that occur, such as:
- Cat failure - $1,400 (free if within 80,000 miles, but can cause other issues)
- O2 sensor failure - $285
- Steering rack failure - $2,000+
- Lower intake manifold or SSV failure - $2,000 (dealer, I don't know the parts cost to have a self cost)
Multiply any items by 2 if you purchase them from a dealer.
Multiply any items by 3 if you purchase them from a dealer and have the dealer do the labor.
The cost of owning this car isn't low. It's not as high as some people think, but it is alot higher than people expect that aren't actually thinking it through. DO NOT MAX OUT YOUR FINANCES purchasing this car. Any car really, it's stupid. But here are the costs you should have over the first 30,000 miles:
- 1,764 gallons of gas - $5,294 (using 17mpg and $3 per gallon)
- 40 quarts of oil for oil changes - $160
- 10 oil filters - $120
- 30 quarts of oil to top off with - $150
- 4 spark plugs - $80
- 4 coils - $140
- 4 plug wires - $60
- 4 tires - $800
- 2 quarts of transmission fluid - $20
- 2 quarts of rear diff fluid - $20
= $6,844
Plus any other failures that occur, such as:
- Cat failure - $1,400 (free if within 80,000 miles, but can cause other issues)
- O2 sensor failure - $285
- Steering rack failure - $2,000+
- Lower intake manifold or SSV failure - $2,000 (dealer, I don't know the parts cost to have a self cost)
Multiply any items by 2 if you purchase them from a dealer.
Multiply any items by 3 if you purchase them from a dealer and have the dealer do the labor.
Add insurance
Add winter wheels and tires (or just tires) if you are driving it in the winter.
08-18-2010, 02:42 PM
#28
FERA, to answer your question, you can try using the online quotation simulators that auto insurance companies have. They will take your info and give you a rough quote for how much insurance would cost. Factors affecting your insurance include:
-where you live
-whether its driven for work/school or pleasure only
-distance to the above destinations
-your age
-your gender
-your driving experience
-minor convictions (speeding tickets, it does not matter whether you have demerit points or not)
-major convictions (criminal activities, excessive speeding over 50km/h posted limit)
-past claims in the last 6 years
Parking tickets do not count.
Most insurance companies are okay with 2 minor convictions on file without additional increases. Also if you tie your car in with your family's insurance, take note that any claims you make on your car will affect THEIR insurance as well. If you make a claim on file, it will be reflected in the whole policy, so when it comes time to renew, your family members get dinged for it as well. Becareful.
If you are going insurance SOLO, expect at least $4000/year at your age. I am going to assume that you are the only child in the family. If you already have 2 cars in the household. Then the addition of the 3rd car will automatically imply you are the primary driver. It is extremely hard to prove to the insurance company that with 3 people in the household, and 3 cars, that you will only become a "secondary" driver to that car. You'll most likely be a primary driver to one of the cars.
If this is the situation, as someone above pointed out, you maybe able to save some money if the RX-8 is insured as your father's primary car, and you take his car. This is under the assumption as well that your father's current car is not nicer than your 04 RX-8.
Lots for you to think about.
-where you live
-whether its driven for work/school or pleasure only
-distance to the above destinations
-your age
-your gender
-your driving experience
-minor convictions (speeding tickets, it does not matter whether you have demerit points or not)
-major convictions (criminal activities, excessive speeding over 50km/h posted limit)
-past claims in the last 6 years
Parking tickets do not count.
Most insurance companies are okay with 2 minor convictions on file without additional increases. Also if you tie your car in with your family's insurance, take note that any claims you make on your car will affect THEIR insurance as well. If you make a claim on file, it will be reflected in the whole policy, so when it comes time to renew, your family members get dinged for it as well. Becareful.
If you are going insurance SOLO, expect at least $4000/year at your age. I am going to assume that you are the only child in the family. If you already have 2 cars in the household. Then the addition of the 3rd car will automatically imply you are the primary driver. It is extremely hard to prove to the insurance company that with 3 people in the household, and 3 cars, that you will only become a "secondary" driver to that car. You'll most likely be a primary driver to one of the cars.
If this is the situation, as someone above pointed out, you maybe able to save some money if the RX-8 is insured as your father's primary car, and you take his car. This is under the assumption as well that your father's current car is not nicer than your 04 RX-8.
Lots for you to think about.
08-18-2010, 04:13 PM
#31
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thanks for all the advice and yes i do deserve an rx8. i think im going to primary my fathers car if i happen to get one. thanks for everyone who is helpful and not a dick. i care for cars im not one of those people who would drive it dirty and never clean im in a car fanatic and truly in love with this car
08-18-2010, 05:03 PM
#36
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im not doing it for my friends
im doing it for me.
i love this car and im trying everything i can to get it.
and if u guys cant respect that then go shove it up your ***
im doing it for me.
i love this car and im trying everything i can to get it.
and if u guys cant respect that then go shove it up your ***
08-18-2010, 11:40 PM
#37
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with this car, there's always unexpected costs....just keep that in mind =]
Expect your insurance to be more like $5000 a year if you want full coverage, that's what I went through, but it went down by $1000 or so if I only get third party. For some reason, my friend with a '93 FD has insurance that costs $2500 a year, which is WAY cheaper, even though it's TWO-DOORS and has got a MUCH better Power-to-Weight ratio; probably 'cause it's old.
As Footman already said, if your family has 3 cars, and you only have 3 drivers, the third car will automatically be put under your name. Some insurance companies will arrange it so that the most expensive goes under your name, regardless of who drives it; so watch out for that. If you have good grades in school, took insurance classes or what not, TEL THAT TO THEM!!! It will lower your insurance premiums by a SLIGHT bit, not too much, but better than nothing.
BTW what university are you heading off to next year?
Expect your insurance to be more like $5000 a year if you want full coverage, that's what I went through, but it went down by $1000 or so if I only get third party. For some reason, my friend with a '93 FD has insurance that costs $2500 a year, which is WAY cheaper, even though it's TWO-DOORS and has got a MUCH better Power-to-Weight ratio; probably 'cause it's old.
As Footman already said, if your family has 3 cars, and you only have 3 drivers, the third car will automatically be put under your name. Some insurance companies will arrange it so that the most expensive goes under your name, regardless of who drives it; so watch out for that. If you have good grades in school, took insurance classes or what not, TEL THAT TO THEM!!! It will lower your insurance premiums by a SLIGHT bit, not too much, but better than nothing.
BTW what university are you heading off to next year?
08-18-2010, 11:51 PM
#38
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Good for you and saving up to getting your first car and all. I respect that you're actually buying it your self instead of your parents paying for it like I see a lot of kids now-a-days. But trust me, all these people here aren't lying when they say these things... especially if you're buying an '04. It WILL have problems. You WILL have to get it repaired. You WILL have to keep up with maintenance. And it WILL cost you a small fortune.
Before you buy, you should save up. A lot. 12,000 is just your purchase price. Just to put it into perspective, I've owned mine a little over a year and between 2 new sets of tiers, repairs, maintenance, and small mods I've spent around $6000 (I cry a little when I think about it..).
I'm not trying to put you off of buying it, its always nice to see more 8's on the road, I'm just letting you know how it is. SO, make sure you absolutely can afford it before buying it, even if it means buying a beater and driving that for a year while you save up.
On topic, do as most other have said and call up some insurance companies to get some rates. I'm betting around $250/mo.
Before you buy, you should save up. A lot. 12,000 is just your purchase price. Just to put it into perspective, I've owned mine a little over a year and between 2 new sets of tiers, repairs, maintenance, and small mods I've spent around $6000 (I cry a little when I think about it..).
I'm not trying to put you off of buying it, its always nice to see more 8's on the road, I'm just letting you know how it is. SO, make sure you absolutely can afford it before buying it, even if it means buying a beater and driving that for a year while you save up.
On topic, do as most other have said and call up some insurance companies to get some rates. I'm betting around $250/mo.
08-19-2010, 08:03 AM
#40
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that's quite high...even i'm not getting that high of a rate and I'm younger but I guess it also depends what city you're in, I hear if you're in places like kitchener, or hamilton, or ottawa insurance premiums are a bit lower than say toronto, london and other bigger cities?
08-19-2010, 08:22 AM
#41
$250/month if you're DAMN LUCKY and have crap loads of connections, double that if you're 18 and want full coverage...if you want only 3rd party 'cause you can't afford full coverage, then maybe $350-400 a month =]
that's quite high...even i'm not getting that high of a rate and I'm younger but I guess it also depends what city you're in, I hear if you're in places like kitchener, or hamilton, or ottawa insurance premiums are a bit lower than say toronto, london and other bigger cities?
that's quite high...even i'm not getting that high of a rate and I'm younger but I guess it also depends what city you're in, I hear if you're in places like kitchener, or hamilton, or ottawa insurance premiums are a bit lower than say toronto, london and other bigger cities?
Insurance might not consider him primary on the 8 or the other car because there's 3 cars and 3 people in the house. Keep in mind the 8 is a sports car. Originally I had the car in my dad's name, so I could still apply for OSAP when needed, and take advantage of grants. Insurance didn't say squat, since the car would get insured only during the summer, and assumed it was a weekend warrior for my dad. I got placed on as secondary. No issues so far, since most of you know how many times I got pulled over. DWB (brown), lol!
08-19-2010, 09:30 AM
#43
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Yikes man! That's not right. I pay 230/mo and I'm 23 with an accident on record. Guess Ontario's rates are wayyyyy different from Alberta.
08-19-2010, 10:12 AM
#44
08-19-2010, 04:28 PM
#47
Search rx8 problems and your internet will shutdown due lack of bandwidth to complete your search.
Ive spent at least 8 k in maintenance 5k in parts and over 6k of payments to the car over the past 2.5 years.
Seriously though you can baby the car all you want. Once you start sliding in the ice towards a telephone pole becuase you didn't know how a rwd reacts in the snow and ice. I wont even feel sorry for you, I'll just laugh at you.
Side note my insurance is $180 a month full coverage 500 deductible you guys are getting railed. I just turned 25 and changed my deductible to 1000 to save money I'm now paying $130 a month.
Ive spent at least 8 k in maintenance 5k in parts and over 6k of payments to the car over the past 2.5 years.
Seriously though you can baby the car all you want. Once you start sliding in the ice towards a telephone pole becuase you didn't know how a rwd reacts in the snow and ice. I wont even feel sorry for you, I'll just laugh at you.
Side note my insurance is $180 a month full coverage 500 deductible you guys are getting railed. I just turned 25 and changed my deductible to 1000 to save money I'm now paying $130 a month.
08-19-2010, 04:37 PM
#48
Registered User
If you're with TD, they earlier filed for an increase which coincides with the reform (which they filed for a decrease - but combined it's an increase).
08-19-2010, 04:43 PM
#49
Registered User
FERA, to answer your question, you can try using the online quotation simulators that auto insurance companies have. They will take your info and give you a rough quote for how much insurance would cost. Factors affecting your insurance include:
-where you live
-whether its driven for work/school or pleasure only
-distance to the above destinations
-your age
-your gender
-your driving experience
-minor convictions (speeding tickets, it does not matter whether you have demerit points or not)
-major convictions (criminal activities, excessive speeding over 50km/h posted limit)
-past claims in the last 6 years
Parking tickets do not count.
Most insurance companies are okay with 2 minor convictions on file without additional increases. Also if you tie your car in with your family's insurance, take note that any claims you make on your car will affect THEIR insurance as well. If you make a claim on file, it will be reflected in the whole policy, so when it comes time to renew, your family members get dinged for it as well. Becareful.
If you are going insurance SOLO, expect at least $4000/year at your age. I am going to assume that you are the only child in the family. If you already have 2 cars in the household. Then the addition of the 3rd car will automatically imply you are the primary driver. It is extremely hard to prove to the insurance company that with 3 people in the household, and 3 cars, that you will only become a "secondary" driver to that car. You'll most likely be a primary driver to one of the cars.
If this is the situation, as someone above pointed out, you maybe able to save some money if the RX-8 is insured as your father's primary car, and you take his car. This is under the assumption as well that your father's current car is not nicer than your 04 RX-8.
Lots for you to think about.
-where you live
-whether its driven for work/school or pleasure only
-distance to the above destinations
-your age
-your gender
-your driving experience
-minor convictions (speeding tickets, it does not matter whether you have demerit points or not)
-major convictions (criminal activities, excessive speeding over 50km/h posted limit)
-past claims in the last 6 years
Parking tickets do not count.
Most insurance companies are okay with 2 minor convictions on file without additional increases. Also if you tie your car in with your family's insurance, take note that any claims you make on your car will affect THEIR insurance as well. If you make a claim on file, it will be reflected in the whole policy, so when it comes time to renew, your family members get dinged for it as well. Becareful.
If you are going insurance SOLO, expect at least $4000/year at your age. I am going to assume that you are the only child in the family. If you already have 2 cars in the household. Then the addition of the 3rd car will automatically imply you are the primary driver. It is extremely hard to prove to the insurance company that with 3 people in the household, and 3 cars, that you will only become a "secondary" driver to that car. You'll most likely be a primary driver to one of the cars.
If this is the situation, as someone above pointed out, you maybe able to save some money if the RX-8 is insured as your father's primary car, and you take his car. This is under the assumption as well that your father's current car is not nicer than your 04 RX-8.
Lots for you to think about.
If there are 3 drivers in the house and 3 cars, you have to have 3 primary drivers. You can't have 3 cars with 2 as primary and 1 as secondary driver...
And they'll put the highest rated driver on the highest rated vehicle as primary...