purchase and insurance
08-17-2010, 04:34 PM
#1
Registered
Thread Starter
iTrader: (1)
Join Date: Aug 2010
Posts: 382
Likes: 0
Received 0 Likes
on
0 Posts
purchase and insurance
im an 18 year old kid clean record looking to buy an rx8. i doubt it will be anytime soon since money is a huge factor for me. im still saving but im looking to be driving one by april. can anyone tell me what insurance is like for a kid my age im 18 live in ontario canada. also i know alot about this car as ive been interested in it for years now. i truley love this car. is it a problematic car stock? my buddy had a greddy turbo in his and had lots of problems for the time he had it. also what is a good km to purchase it at? and engine rebuilds- are they mandatory at a certain km? will the car loose power or is this just some. any tips would help me because i really need to know more before i purchase a car as its a huge step in my life. anything you have to say let me know.
thanks alot i appreciate it!
thanks alot i appreciate it!
08-17-2010, 04:36 PM
#2
Registered
iTrader: (2)
Join Date: Oct 2007
Location: Pacific Northwest
Posts: 16,684
Likes: 0
Received 239 Likes
on
109 Posts
Alot of your questions are answered here: https://www.rx8club.com/new-member-forum-197/new-potential-owners-start-here-202454/
You will have to get some feedback from some Canadian owners on the insurance piece.
You will have to get some feedback from some Canadian owners on the insurance piece.
08-17-2010, 09:48 PM
#6
Effin' Awesome User
I pay about $600 every 3 months, so quarterly, and I'm 18. That's full coverage and it comes out to about $200 a month, but I also have good student discounts and safe driver discounts and I think some other discounts as well, so it maybe more for you.
Try to hop on your parents' insurance and just tell them you'll pay them the difference for your car. You'll probably save some then.
For the car itself, down payment is key. If it's big then the dealer will look favorably on you being a teen. Also, since your a kid, try to get something with some warranty still cause it will help, I guarantee it. If you go used, then don't. Any loan you get to pay for it will be at an insanely high interest compared to a new car, but you might be able to find a good deal somewhere.
In terms of mileage; find one with less than 100K miles, cause then the engine still has some warranty on it and that's just great.
Try to hop on your parents' insurance and just tell them you'll pay them the difference for your car. You'll probably save some then.
For the car itself, down payment is key. If it's big then the dealer will look favorably on you being a teen. Also, since your a kid, try to get something with some warranty still cause it will help, I guarantee it. If you go used, then don't. Any loan you get to pay for it will be at an insanely high interest compared to a new car, but you might be able to find a good deal somewhere.
In terms of mileage; find one with less than 100K miles, cause then the engine still has some warranty on it and that's just great.
08-17-2010, 10:33 PM
#7
Vtak just kicked in yo!!
iTrader: (1)
Join Date: Jun 2007
Location: Lake County IL
Posts: 4,053
Likes: 0
Received 0 Likes
on
0 Posts
I pay about $600 every 3 months, so quarterly, and I'm 18. That's full coverage and it comes out to about $200 a month, but I also have good student discounts and safe driver discounts and I think some other discounts as well, so it maybe more for you.
Try to hop on your parents' insurance and just tell them you'll pay them the difference for your car. You'll probably save some then.
For the car itself, down payment is key. If it's big then the dealer will look favorably on you being a teen. Also, since your a kid, try to get something with some warranty still cause it will help, I guarantee it. If you go used, then don't. Any loan you get to pay for it will be at an insanely high interest compared to a new car, but you might be able to find a good deal somewhere.
In terms of mileage; find one with less than 100K miles, cause then the engine still has some warranty on it and that's just great.
Try to hop on your parents' insurance and just tell them you'll pay them the difference for your car. You'll probably save some then.
For the car itself, down payment is key. If it's big then the dealer will look favorably on you being a teen. Also, since your a kid, try to get something with some warranty still cause it will help, I guarantee it. If you go used, then don't. Any loan you get to pay for it will be at an insanely high interest compared to a new car, but you might be able to find a good deal somewhere.
In terms of mileage; find one with less than 100K miles, cause then the engine still has some warranty on it and that's just great.
Now Im 21 and I pay $185 per month, clean record. BTW thats set as a pleasure vehicle with a $1500 deductible since I only drive the car 1000 miles a year now thanks to my new DD from work
08-18-2010, 06:25 AM
#8
Registered
iTrader: (2)
Join Date: Oct 2007
Location: Pacific Northwest
Posts: 16,684
Likes: 0
Received 239 Likes
on
109 Posts
Keep in mind he was asking for Toronto Canada, and their rates are usually higher than US I believe, often insanely higher.
I am at ~$95 a month for my 8, full coverage, $0 deductible on comprehensive, $500 on collision, long and dirty driving record.
Insurance price swings are dramatic....
I am at ~$95 a month for my 8, full coverage, $0 deductible on comprehensive, $500 on collision, long and dirty driving record.
Insurance price swings are dramatic....
08-18-2010, 10:44 AM
#9
Registered
Thread Starter
iTrader: (1)
Join Date: Aug 2010
Posts: 382
Likes: 0
Received 0 Likes
on
0 Posts
is anybody from canada? im just curious cuz im thinking of taking a lone from the bank in april and buying a privatly owned rx8. i would surley take it to get inspected and everything first my uncles a mechanic so im sure ill be able to see whats wrong. and even for an 04 would my engine be covered until 160 000 km? so if i blow my engine and its loosing power will i be able to replace it free of charge from mazda? and my parents have 2 cars so if i get a car well have 3 and it will have to be under my name. so insurance is going to be atleast 5,000 a year i assume. is there anyway my dad could have both cars under his name? thanks for all the advice
08-18-2010, 11:00 AM
#14
Registered
Join Date: May 2009
Location: Lethbridge, Alberta, Canada
Posts: 206
Likes: 0
Received 0 Likes
on
0 Posts
^ Regional forums near the bottom of the page.
FYI, I pay $230 a month on mine for full coverage, $500 deductible, and I have one accident on record. I'd imagine you'd be somewhere around the 250 area, but shop around because some places will offer you better rates than others.
FYI, I pay $230 a month on mine for full coverage, $500 deductible, and I have one accident on record. I'd imagine you'd be somewhere around the 250 area, but shop around because some places will offer you better rates than others.
08-18-2010, 07:39 PM
#15
Thread
Thread Starter
Forum
Replies
Last Post
Rx8 VA Guy
RX-8 Parts For Sale/Wanted
7
06-04-2016 12:42 AM