insurance question for 17 yr old driver (sports cars)?

Question

At the end of the summer I am allowed to buy my own car. At that time I will have been driving for about a year and a half under my parent's insurance. I have 2 options as far a buying a car: putting about a $5000 down payment on a car and my parents paying off the rest before I graduate college, or buying a car for $5000.

The cars I would buy for $5000 would either be a mitsubishi 3000gt or a nissan 300zx. I like both of these cars, but they're not very "professional" and since I hopefully will have whatever car I buy through college, I want something that doesn't scream "hey i'm fresh out of high school and stuck with a sports car!"

As far as putting a $5000 down payment at a local dealership, my limit is about $16,000 at the most. For 16,000 I was looking at a used (obviously) BMW M3, Mazda Rx8, and Audi A4, or (if I get extremely lucky and stumble upon a) Infiniti G35. These cars look a little more mature than the ones I would buy for $5000.

So my question is this: On what cars would insurance cost the most? What is the smartest decision as far a choosing a reliable, but nice car?

*Please don't tell me I'm a spoiled brat to want one of these cars. I know I'm a young driver, but I am yet to get in an accident or get a ticket. I've been driving my mothers car (2001 volvo s40) for about a year and am ready to get my own.

Thanks guys. To clear things up: Of course I'm staying under my parents' insurance policy, the driving distance to my school and to work is about 2 miles and 3 miles, respectively. I live in the city so I'm 10 minutes from everything. And no, my parents are not "foreign car whores." The "trait" is completely self-induced.

Answer 1

The question is moot. You cannot, at 17, buy insurance - it's a contract, and you have to be of legal age to enter into the contract.

You'll have to remain on your parents' insurance policy, and the new car will be added to their policy.

Nonr of the cars you listed would be substantially less expensive to insure than the others - although the RX8 and the M3 would be the most expensive.

Answer 2

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RE :Insurance question for 17 yr old driver (sports cars)?
At the end of the summer I am allowed to buy my own car. At that time I will have been driving for about a year and a half under my parent's insurance. I have 2 options as far a buying a car: putting about a $5000 down payment on a car and my parents paying off the rest before I graduate college, or buying a car for $5000.

The cars I would buy for $5000 would either be a mitsubishi 3000gt or a nissan 300zx. I like both of these cars, but they're not very "professional" and since I hopefully will have whatever car I buy through college, I want something that doesn't scream "hey i'm fresh out of high school and stuck with a sports car!"

As far as putting a $5000 down payment at a local dealership, my limit is about $16,000 at the most. For 16,000 I was looking at a used (obviously) BMW M3, Mazda Rx8, and Audi A4, or (if I get extremely lucky and stumble upon a) Infiniti G35. These cars look a little more mature than the ones I would buy for $5000.
Update: So my question is this: On what cars would insurance cost the most? What is the smartest decision as far a choosing a reliable, but nice car?

*Please don't tell me I'm a spoiled brat to want one of these cars. I know I'm a young driver, but I am yet to get in an accident or get a ticket. I've been driving my mothers car (2001 volvo s40) for about a year and am ready to get my own.
Update 2: Thanks guys. To clear things up: Of course I'm staying under my parents' insurance policy, the driving distance to my school and to work is about 2 miles and 3 miles, respectively. I live in the city so I'm 10 minutes from everything. And no, my parents are not "foreign car whores." The "trait" is completely self-induced.
Follow 8 answers

Answer 3

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RE Insurance question for 17 yr old driver (sports cars)?

At the end of the summer I am allowed to buy my own car. At that time I will have been driving for about a year and a half under my parent's insurance. I have 2 options as far a ...show more

Answer 4

OK.. so you know what you want to buy.. there are two ways to go

1) Keep yourself on the families insurance: Pick up the phone and call the insurance company and ask what the change will be if you purchase the car and drive it. (Be sitting down... it is not going to be a pleasant number).

2) You are still a minor. You may be able to get your own policy but likely your parents will have to sign for it. Same process.. be ready for a worse shock.

Remember that unlike your car payments, those insurance figures are not going to go away. Until you are 23 or so they will remain high and, because of your choice of car, will remain higher then they have to be. Consider what you might do with that money if you had a less ostentatious vehicle..

either way.. enjoy the ride...

.

Answer 5

The kind of car you get is only 1 factor involved in your insurance rates.

Other factors involved are: Your address, driving distances to and from work, age, if you live at home or on your own, deductible levels, driving records if any, and yes.. even the price and color of the vehicle believe it or not...

It's a difficult question. Unfortunately this is something you'll have to take to an insurance agent who will quote you on your particular set of circumstances.

Answer 6

LOL ok ignore about USDM!!!! That guy talkin about Ford Explorer is prety insane. Im 24 and that i have had 4 automobiles in my life, my first vehicle became a ninety 8 Acura Integra kind R which my dad offered me, then i purchased a Honda Civic EG Hatch, then i purchased my VW golf R32, and my mom only offered me a Acura RSX kind-S i freaking like it. I bought the civic and im thinkin about sellin the golf, yet ok lower back to the question you should signify a Honda Civic EK or a Acura Integra or a Nissan 240sx basicaly any JDM or EDM {jap, ecu} they're the perfect to bypass with. American automobiles extremely suck good luck on the motor vehicle that u go with

Answer 7

Go with a 300ZX, convertible if you can find one. paid off with liability insurance only. Worry about getting a "professional" car once you've graduated college.

liability only, even on a sports car, is going to be far FAR less expensive than full coverage on any of the other types of vehicles you mentioned.

Answer 8

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Answer 9

Get none of the above.

Get a 1999-2002 Ford Ranger and you can haul your stuff plus a couple drunk friends in back.

Sounds like your parents are foreign car whores and passed this trait to you.

Answer 10

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