What will my insurance be?

Question

I'm 21, in college trying to get my first car- my uncle suggest that i wait until i finish school but i really need a car- he is afraid my insurance will be higher than my car note- what should i do i really want a car/ i need a car i go to school n tha country and there is little to no public transportation- any good advice please

Answer 1

Your insurance rates will not change much (if any) until you turn 25. If you need a car, get a cheap one that is for transportation and not show. Check with a few insurance companies to find your best options. If you can afford to fully pay for a used car, you won't need to carry full coverage which is more expensive.

Answer 2

well when did you get your licence??? if its 16 or 17 you can get a nice new subaru legacy limited I2.5 and your insurance would be $100-$200 something a month which is pretty good or you can get a demo which is basicly new but the dealer has driven it about 5000 miles and it cost about 5-6k less and you'll have less insurance and have someone sign for you and you co-sign for the car and put someone else that is older then you as the primary driver
oh and DON'T LEASE A CAR IT WILL BE MORE!!!!!!

Answer 3

Insurance for 21 year old males is expensive but keep the coverage low, buy an older vehicle, and DON'T WRECK. lol.

Answer 4

Call a freaking insurance company and find out.

Answer 5

1. Review my answer to "What is auto insurance?"

http://answers.yahoo.com/question/index;_ylt=ApbM.7YUciPrKWPXntxaRbnty6IX?qid=20070719151415AA3ACTP

2. Note that I included in my advice how to get a good deal on a car loan. This can save you thousands of dollars, help you get it paid off faster. You may want to ask a separate question on that, since that was not the main focus of the question, so I did not share all such tips of which I am aware.

3. Note the different kinds of insurance that can be included in your policy, which ones are mandated by law, probably mandated by your auto loan bank, and how to keep the overall cost down, such as by the use of deductables, and the risks you might decide to take.

With my auto insurance, I have decided that I don't want to bother insuring against little scratches when some other person bangs their door into mine in a parking lot ... this has saved me hundreds of dollars in insurance costs. You can do similar analysis of what all is involved in each aspect of insurance to decide where you need full coverage and where it makes sense to save a chunk of money. Over the years I have saved thousands of dollars on my auto insurance by having a minimum age for which anyone may drive my car.

4. Figure out if you are in a "no fault" auto insurance state or if you might be driving in one near where you live work vacation etc. This topic comes up occasionally in Yahoo Answers. Here is link to one of those Q+A

http://answers.yahoo.com/question/index;_ylt=Avkto9jm33txwb5ibEbiq2sjzKIX?qid=20070221060846AAckKhE

5. There is also the issue of what paperwork you need to have on your person, or in your car, when asked by police, or in case of accident.

This varies by state. You could be in a state where you need to show proof of insurance to get license, but don't have to have it on you when driving, then you cross state line into different state, get stopped by police, don't have this on you because it not required in your home state, but be in big trouble because that is also required in the other state. So you need to get familiar with what rules vary from state to state.

I could link to more info on that, but perhaps a separate question should be asked, unless you already familiar with this topic.

6. You might also look in another category. People have tips on extending the useful life of your car. Some people like to spend $ XX,XXX.XX every 2 to 3 years replacing their automobile, and similarly replacing their computer. I prefer to get one that works good, keep it running good, only replace it when there are some features on new ones that I cannot live without.

My current car has 130,000 miles on it and was purchased in 1986. An earlier one had 200,000 miles on it before time to replace it. You may want tips on how to keep a car running good condition for that long or for longer.

Cost of any capital investment is both the purchase price and cost of keeping it running effectively over its life span. For some equipment, particularly computers, the cost of lifetime operations can be more than the purchase price, so that needs to be taken into consideration when selecting which is best for your needs.