Im looking to get a 5.0 Mustang but the insurance is too high (180/mnth) is there a way to get it lower? im 17

Question

Im under my parents insurance for my 4 cyl and its 100/mnth im looking to get a mustang 5.0 (1982) and our insurance for that car is 180/mnth, but my friend who has a simular car (same engine) is only paying 100/mnth, is there anyway to get it lowered or anything?

Answer 1

Nope. That is a HOT car and you are a teen. No two ways around it, you are stuck with high insurance on anything above a motorscooter until you are 25. And the post about finding an "LX" 5.0 will not work. The VIN has an engine code on it, when the insurance company sees that, it will be the same as the GT.
On the other hand, an 82 mustang gt cannot be that expensive. $1000 tops? So consider the 180/month a car payment and get a job.

Answer 2

In New York, if you took Driver's Ed you can get a decent discount on your insurance. I am not sure how this works in other states, but it is something to check with your insurance agent about. Also, if you took a Defensive Driving class, this can give you a discount as well of about 10%.

You can also ask for a higher deductible on your Collision and Comprehensive coverages. (Let's say you have a $200 deductible and get into an accident. You would pay the first $200 to repair the car, and then the insurance would pay the rest. The higher the deductible, the cheaper the insurance).

I would check with your agent to see if any of these things are options for you! And keep your driving record clean, because that will help your rates in the future!

Answer 3

The reason it's so high is because you are under age 25. You shouldn't compare the price you are paying to the price your friend is paying because there are so many different factors that can change the premium. Review the coverages you are being quoted. If the vehicle is a 1982 you may only want to have liability coverage. That would bring down the price some. Ask your insurance company about any discounts that you may qualify for such as good student discounts, good driving discounts, etc.

Answer 4

You can shop around, but you will most likely be better off on your parent's policy, as they probably have a multi-car discount. There are many factors in calculating insurance costs and one person's price is not necessarily going to ho,d for another. At your age, you are what is considered a higher risk. The bigger engine and spots car nature of the mustang also makes it more expensive to insure. Moving from an economy car to a sports car normally means a big jump in insurance rates.

Answer 5

A 5.0 Mustang will be expensive. You can't compare what you pay with your friend, there are too many variables. You're going to have to shop around. Or keep the 4 cylinder. Your insurance will go up on the Mustang due to speeding tickets if you don't keep your foot out of it.

Answer 6

for starters any 17 year old male will always have higher insurance no matter what kind of car you have. Statistics show this and this is why. As for lowering your insurance good luck, I would exactly find out what it is that your friend has on his title and go from there.

Answer 7

Not at age 17. It's going to take several years to get the premiums down. The model doesn't matter so much as the engine size does.

Answer 8

Try to find a LX model or similar that has the 5.0 engine swapped into it , but in registration shows it being a 4 cycl model . That is about the only way i can think of .

Answer 9

$180 a month for a 17 year old driving a GT -- sounds like a bargain to me.

Answer 10

My insurance is cheaper on mine because it's an automatic. I'm not sure if your company is big on whether it's and automatic or manual, but my company makes a big deal about it.