so im 16 (nov. 12 ill be 17), I have a high GPA, no crash record etc and I’m a female. I have the 7 grand to buy my 1996-7 Mitsubishi 3000gt but insurance for it will be $ 404.23 a month! I talked to an insurance agent discussing the cost. only because im an inexperienced driver! I don’t understand why it’s so high?
So I can buy the car (which wont be red and will be the SL or Base model, not the vr4) but it’ll sit in my garage for a year until im 18, not insured because it’s too expensive so i can’t drive it.
I’ve been saving to get this car for 2 years now and my dad is adamant about buying this car as well because he’s always wanted one and wants to work on it with me. I’m so incredibly bummed! If i get it i can’t drive it till im 18 and can afford to insure it. (which i don’t even know what the cost will be then!?)
So what do you say, is it worth buying anyways and waiting another year to drive it? (i’ll be using a crysler sebring convertable until then which will be my step moms)
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By the time you are ready to drive it, it will have dropped in value. In other words you lost money on it by it just sitting there. I’d say it was a waste of money. It would make more sense to wait until you’re ready to drive it and perhaps the difference in price will give you the money for the insurance. However if you have money to throw down the toilet then that’s your business.
Insure it under one of your parents, the car will “officially” be under your parents ownership, but you can be added on as a secondary driver. My friend did that with his mom and his mom has never driven his car, he pays around $ 70 a month or so,