how much are you paying for insurance?

[Stark77]

Why are you paying for full coverage/asset protection if you are 18 years old? Drop your liability limits down the bare minimum, unless you own positive equity on an automobile or home in excess of $25,000.00. Haven't $100,000.00 of protection is useless unless you have $100,000.00 of assets that someone could sue you/put a lien on you for.

 

[Stark77]

BTW - I pay 85 dollars a month for auto insurance on my Mustang.

 

[Flghtmstr1]

I'm 21 years old, with no accidents and no tickets (knock on wood), and I pay about $700 a year for full coverage with a $500 deductible.

 

[Crzyhrse]

but i looked at a 2004 roush stage 3 mustang this past saturday. if everything goes good, it'll be mine this weds.

still haven't talked to the insurance company yet so i'm guessing this car will be just a 2004 gt in their eyes.

Is'nt a Stage 3 supercharged? I thought they were or maybe use to be. If they still are supercharged the insurance company won't treat it like a GT by a longshot.

I pay $390 every 6 months full coverage right now. For some odd reason my premiums have gone up $40 in the past year. No tickets or anything. Maybe it's just normal cost hikes. If it goes up again, I'm gonna do alittle insurance shopping.

 

[rabidscoobie]

Is'nt a Stage 3 supercharged? I thought they were or maybe use to be. If they still are supercharged the insurance company won't treat it like a GT by a longshot.

I pay $390 every 6 months full coverage right now. For some odd reason my premiums have gone up $40 in the past year. No tickets or anything. Maybe it's just normal cost hikes. If it goes up again, I'm gonna do alittle insurance shopping.

Im not sure about where you live but in TX some insur companies will alos base your premiums off of your credit score/rating...the lower the number goes...the more they can charge you.They consider lower scores a higher risk....
That is what my insur company told me.

 

[autumn_again]

I pay around 400 a year for liability.

If you don't mind me asking, why are you willing to work 2 jobs at 18 to pay for cars? There are a lot of other better ways to invest that money. Sounds like with your work ethic, you could get yourself through school, have money left over and buy as many mustangs as you want within a few years. Cars depreciate pretty quick, especially mustangs. Just a thought though.

Good luck on the roush.

i wanna work 2 jobs because this year i cant get into the school that i wanted to. i have a school picked out that i missed the cut off for, so i figure i'll work this year, and next year just drop it down to one job while going to school.

the job i'm currently at, hours are kinda bland, open up late, close up early, i work every hour i'm given there, and still have time where i can fill in with work.

its not really all for the mustang that i'm getting a second job, its mainly just to keep busy, and make more money.

+ with working 2 jobs, i'll have that much more money, to pay off the car even quicker. meet my monthly payment and then some.

 

[DBMSTNG]

$82 a month for the Mustang and SVTF combined, full coverage. $984 a year.

$23 a month for the Night Rod. $276/yr.

all with progressive

honestly, it's a waste of money to pay $250+ a month in insurance for a car unless you make some crazy money. save your money and get a better car when you are older.

 

[autumn_again]

Well im about to be 33 with no accidents,1 ticket and Ive been with Farmers Ins for the last 10 years and I pay about $95 a month with the mach 1 and about $10 a month cheaper when I had the 01 GT.Thats for full coverage w/$500 deductable.

Now since Ive been with Farmers for so long I get a discount,I took defensive driving about a yr ago so I get a discount for that.

Now at your age with insur in your name your gonna pay more.I remember when I was 16-21 and I paid for all my cars and insur....no mommy and daddy free rides for me.When I was in high school I drove a 85 Monte carlo SS and paid $240month,then I got a Z28 and paid $250mth...but when I was 20 and got my 92 TA I paid around $275mth with $1000 deductable...those amounts are insurance.

I also worked 2 jobs...alot of times they were both full timers too to pay for my cars,mods and all the other crap a teen wants.and sometimes I had 3 jobs.
Now that I look back on those times and everything I did to have those cars.....It was a very bad decision on my part.

WHY?

Because with me working all those hours I rarely got to really enjoy those cars and especially missed out on my younger years that I will never get back and I regret that alot.At the time I didnt think about it.

Now here is something else to think about also......
by the time I turned 25 I had become diabetic and now have nerve damage from that and permantly disabled.After talking with a specialist I had learned that I most likely progressed me becoming a diabetic by working those jobs because lack of proper rest,eating schedule or I should say lack of eating normal.Not only that but I would stay sick more often.
Now you all may be thinking I was one of those sickly kids growing up but honestly I was rarely sick with anything more than an upset stomach.I was very athletic,Cross country running(running the mile in about 5mins),and football.

Im not trying to talk you out of anything or preach to you,but I thought I would share my experiences with you.Its really something to think about since you have your entire life to work but only a short time to enjoy your younger years of freedom.If I could go back I would change all that.

And sorry for the long post and good luck.

yeah i'm thinking my insurance is going to be high, it'll still be under my parents name, but ill be listed as the primary driver. my mom gets a good discount through her work from this insurance company, so i'm going to stick with that company under their plan as long as i can. after that i'm going to a different company, state farm most likely.

thats kinda scary about being a diabetic. my grandmother was a diabetic. and i'm always stressed out about stuff. mainly lack of money. every check i've had basically since i've had the car so far i've thrown into my 94, trying to make it half as good as it was stock. my parents were wanting me to get something cheap, and just fix it, but its no good when it breaks and i just spent all the money fixing something else on the car.

thank you for sharing, its definitely given me a lot to think about now.

 

[autumn_again]

Why are you paying for full coverage/asset protection if you are 18 years old? Drop your liability limits down the bare minimum, unless you own positive equity on an automobile or home in excess of $25,000.00. Haven't $100,000.00 of protection is useless unless you have $100,000.00 of assets that someone could sue you/put a lien on you for.

not sure how it is in florida, but in NJ, if your paying off the car still, you need to have full coverage on it.

 

[DBMSTNG]

autumn, in all seriousness, here's what i recommend.

a 99-04 V6 Mustang with a twin turbo. you can make some serious power without paying a ton in insurance.

 

[autumn_again]

Is'nt a Stage 3 supercharged? I thought they were or maybe use to be. If they still are supercharged the insurance company won't treat it like a GT by a longshot.

I pay $390 every 6 months full coverage right now. For some odd reason my premiums have gone up $40 in the past year. No tickets or anything. Maybe it's just normal cost hikes. If it goes up again, I'm gonna do alittle insurance shopping.

yeah its supercharged.

i wasn't sure what information the insurance company has on roush's. cause you could just buy a GT and get it turned into a stage 3, but the VIN will still be the same as a GT.

 

[Crzyhrse]

Im not sure about where you live but in TX some insur companies will alos base your premiums off of your credit score/rating...the lower the number goes...the more they can charge you.They consider lower scores a higher risk....
That is what my insur company told me.

The I should be paying next to nothing for insurance. My last credit rating score was 818 out of 850.

 

[SaleenGT2001]

$187 a month for the following

95 ranger
03 Xterra
01 Mustang
07 Accord
05 Suzuki ATV

full coverage on everything but the ATV (fire and theft only)

 

[02nightmaregt]

23 $70 a month liability record couldn't be cleaner, knocks on wood.

 

[waggs]

yeah i'm thinking my insurance is going to be high, it'll still be under my parents name, but ill be listed as the primary driver. my mom gets a good discount through her work from this insurance company, so i'm going to stick with that company under their plan as long as i can. after that i'm going to a different company, state farm most likely.

thats kinda scary about being a diabetic. my grandmother was a diabetic. and i'm always stressed out about stuff. mainly lack of money. every check i've had basically since i've had the car so far i've thrown into my 94, trying to make it half as good as it was stock. my parents were wanting me to get something cheap, and just fix it, but its no good when it breaks and i just spent all the money fixing something else on the car.

thank you for sharing, its definitely given me a lot to think about now.

yeah same here.

what if your mom puts her name as the main driver and puts you as the second? you would still be able to drive it and it would be cheaper?

 

[rabidscoobie]

yeah its supercharged.

i wasn't sure what information the insurance company has on roush's. cause you could just buy a GT and get it turned into a stage 3, but the VIN will still be the same as a GT.

My insur only goes by what the VIN says,if it says GT then you should get the GT price,but if its totaled you will lose money on anything added.Hell mine didnt even look at the car.But for anything aftermarket added Im suppose to take reciepts for it and they will add some value to the car if it becomes a loss.But those same mods can up the premium as in Supercharger.

 

[autumn_again]

yeah same here.

what if your mom puts her name as the main driver and puts you as the second? you would still be able to drive it and it would be cheaper?

eh, it doesn't matter now, i got a call today at work, the guy who put a deposit down last week finally came with a check and bought it.

i feel so ****ty now because of this, i had to leave work.

i finally thought i was getting the nice car i feel i deserve. apparently hard work gets you nowhere knowing all my lazy ass friends have nicer cars that they've been handed. working 6 days a week and can't even fix the one i have fast as its breaking.

 

[rabidscoobie]

Sorry to hear,I have had that happen several times in the past.
if you dont mind me asking what was the selling price.Im sure with the way gas prices are right now it will be easy to get nice stang...mach1's are going for 14-15k now with low milage.Just keep looking youll find one

 

[autumn_again]

Sorry to hear,I have had that happen several times in the past.
if you dont mind me asking what was the selling price.Im sure with the way gas prices are right now it will be easy to get nice stang...mach1's are going for 14-15k now with low milage.Just keep looking youll find one

17K.


i've been looking all over at different dealerships and the ones i've been to don't have much, i guess with gas prices they dont want to take them in since not many people want them or something.

the roush was exactly what i'm looking for, black, supercharged, 5 speed, leather interior, side pipes.

looking all over craigslist, and autotrader, and nothing really catches my eye. I'd want something low mileage so i can put a s/c on right away.

pretty sure i'm just limited to 03-04, because thats what i can get a 4 year loan on.

i dunno, i feel so horrible right now. found a 03 cobra for 19k, with 48k miles, 2 hours away. insurance would rape me with a smile on their faces.

 

[rabidscoobie]

Prob true on the insurance for a Cobra.Why not call the insurance company and get estimates for 03-04 cobras/Machs just to get a ballpark estimate then go from there,you never know they may be cheaper than you expect.

In TX stangs are so easy to find cause everyone has one...But in the autotrader there are always some nice GT's fully built up and s/c.Just be patient and ready for when you find that one.I know its hard to be patient when your wanting a new car but it does pay off in the end.Like when I was trying to buy a Mach I had found an Azure Blue 03 mach that I really wanted but someone bought it out from under me and then I found the Yellow 04 that I like much better than the blue and was cheaper with less miles.