dmc27

maybe I missed it, but why can't you add the 8 to your aunt/uncle's current insurance policy w/you listed as the primary driver?

that should get you past the "no continuous coverage" BS and put you at the normal rates for 18 yo male. still a few hundred per month but not the BS $800-900.

Rems31

He wants to insure the 8 with his uncle/aunt as the primary driver while he has the title of the car under his name. And he wants to be the primary driver on the beater car...

Spiker

exactly :P Hey dont I still get a discount if i join them in a family car insurance policy and put myself as primary diver for the 8?

So now save headach it is either i insure myself with only liability or give my aunt title and put her as primary driver and get full coverage.

If she has the title and put her name as primary diver, and my name as primary diver for the beater car, it shouldnt be that bad right? even if i actually drive to college?

dmc27

Right. I think I'm getting confuzzled.

You wrote "However...if my parents can list me as primary driver on one of the car with their name why shouldnt i be able to list them as primary driver on one of the car with my name? ( lol i hope this logics works x.x)"

I think it confused me w/the switching between "parents" & "guardian".

Trying to avoid asking you personal Qs, but Parents = Aunt & Uncle in this sentence, right?


Did you get quotes for you as the primary driver of the 8 on their insurance?

Rems31

If you're under the same roof, you should still get the discounts like multivehicle, multiproduct, etc...

Don't you already have more cars than drivers? Shouldn't you be a primary driver in one of those vehicles already?
But why don't you try getting the title of the beater and the 8 under your name and insure the 8 with your aunt as the primary driver and the beater for you. That might work.

dmc27

I honestly don't know enough of the ins & outs of primary driver/vehicle, but it's got to be less expensive to keep it under their insurance policy. If you can't get a better rate than the 800 per month buy something else. NO CAR* is worth that.

I know w/mine the insurance wanted the car registered in my dad's name in order to have the insurance in his name. He cosigned so the title is in both our names, which actually reduced my loan rate and the insurance. But - there can be issues with the title not being in your name. Nothing I'd ever worry about w/my family, but I've seen a thread or 2 over the last 2 years about some poor bastiche having the car taken away by the "titled owner" and then having little recourse. So it should be considered.


*statement excludes supercars that are totally worth that.

nubee420

On ANY automobile insurance policy. If the insured on the policy authorizes the use of their vehicle, that person is covered in the event of an accident. The exception to this is only if a specific exculsion preventing a specific person from driving your vehicle has been issued form the insurance company, then there is obviously no coverage. You can verify this with your insurance carrier.

As far as who you should list as the primary driver, who the title holder or owner is has no relevance to insuring the vehicle though they will need the lien holder information. As long as the parent or guardian you are trying to list as the primary isn't the primary driver on another vehicle, you won't have a problem. Some carriers will actually let the same person be the primary driver on multiple vehicles but most won't.

Spiker

yea in this thread parents=guardians=aunt/uncle

yes i did get a qoutes as primary driver by myself..200 per month liability or 800-900 per month full coverage.

Spiker

I hope that is the case cus it would make my life alot easier.

Spiker

And how exactly does co-signing on car title work? like when you sell it and crap?

Stavesacre21

800 a month?!? I think this might be devine intervention from God that this car...is NOT a good idea for you. That's the most rediculous thing i've ever heard of!

For that price, PER MONTH, you could have a VERY NICE $150K house payment.

Spiker

Correction it is actually 900$ per month lol 212 for liability per month for rx8 260 per month for 350z...

nubee420

That quote really is insane. $9000 a year for someone who has no accidents or tickets is simply unheard of. When I was 17, I had three "at fault" accidents and several tickets...My yearly rate was around $7000 on a turbo all wheel drive eclipse. Who all have you called for a quote and where do you live so I can make some calls?

Better yet, answer these general questions and I will get you a rough quote:

Age:
Sex:
Zip Code:
Vehicle:
Accidents/Tickets?

I just did an online quote through geico for a 19 year old in Texas on an RX8 just to see what it came back at and it was around $350 a month. I don't know what you're telling them to get $900 but something has to be wrong.

dmc27

hmmm . . . you'll have to look into co-signing locally, but basically the title has either both names or JUST your aunt's name. Which is where some have run into problems. If you go to sell it you would need to transfer the title to your name which shouldn't be too big an issue - prlly by having your aunt "sell" you the car.

-- but you need to confirm this w/the bank/dealership or someone who knows more about than me.

If that $200 liability $900 comp quote was through THEIR plan don't get the 8. Get a beater & buy a house, and just wait til you hit 21. You'll have the 3 years of insurance behind you, a house (read - equity to afford any damn car) and you'll be in a better age group for insurance anyway.

Spiker

18
male
73099
rx8
nothing at all

I got it from progressive btw

Visirale

This might sound stupid, but are you sure that the quote isn't for a half year, and not a month?

laythor

+1 For reading my mind

dmc27

^^ doh!! the simplest question and no one thought of it yet!

the quotes provided by insurance companies are usually for 6 month increments. Nice catch V.

Spiker

Yes POSITIVE 6 month is 5888 or something like that lol

Visirale

I just did everything and got a $544 a month quote... still high. I suggest you shop elsewhere.

dmc27

It's prlly a good idea to call a few places and see what you get. The online qoute system for most companies is an estimate - tho it should still be close.

that's just f8cked up.

again - if the insurance is gonna be that much it is NOT worth it. That's a friggin house payment. Use it that way and start building equity.

oh, and no matter what you decide: look into the discounts available thru financing. Don't tell them you're paying cash. Go for the loan b/c you get the Mazda financing which usually knocks a few grand off the price. Even if you do a huge down payment & pay a years worth of car payments it will yeild a better price AND boost your credit rating. (assuming that you're like most 18 year olds and have little or no credit history.)

check back b4 buying and I'll dig up some of the "car buying tips" websites so you can get the best deal out of the stealerships.

Rems31

Increase your deductibles...
and if it's that much, don't get collision or comp

diem

I have a terrible record including tickets, accidents, and a recent DUI and my liability is around $100 a month with Geico.

nubee420

The quote was for 6 months..$1800 or $300 monthly

I just did a Geico quote that came back at $2418 for a 6 month policy which comes out to $457 monthly. That is based on a 2007 RX8 rate with the information you provided me and $25,000/$50,000 limits which are the lowest available. This is a high rate, but for a 18 year old male in a new sports car it's obviously going to be expensive. I don't know how you arrived at $5500 for a 6 month policy but you must have selected the absolute highest limits available which is going to significantly increase your rate.

Good Luck!!

Spiker

ok here is the thing, it seems that ALL of my friends have their car listed under their parent's name even though they are going to college, so i might as well give the title to my aunt and let her list her self as primary driver on the 8 and me on the beater.

Now the question is ...if crash the 8 does it raise her rate or does it raise my rate?