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Well my parents are going to give me one of their cars. Just need $3,000 more to pay it off. We agreed I pay half the monthly bill and the insurance on it and its mine. So still might get hit with a high interest rate but at least I won't have a 2 monthly payments to pay a month. I only make around $400/month working part time at 7.25 going to school so this should help. Thanks for the advise everyone. I will still wait and see where I will be 6 months from know and save up just in case something happens and i'm without a job for a month or two.
Well my parents are going to give me one of their cars. Just need $3,000 more to pay it off. We agreed I pay half the monthly bill and the insurance on it and its mine. So still might get hit with a high interest rate but at least I won't have a 2 monthly payments to pay a month. I only make around $400/month working part time at 7.25 going to school so this should help. Thanks for the advise everyone. I will still wait and see where I will be 6 months from know and save up just in case something happens and i'm without a job for a month or two.
[quote=Omaha Rocks;12397372]You've got a lot of things working against you, and they're really not your fault. You're an 18-year old male, so you are automatically in the highest risk group for insurance, regardless of how well you drive. There's just no way around that. About all you can do is remain ticket & accident free, get good grades, and get older.
Is there some reason your mom or dad won't add you to their policy, and let you pay the added premium? Multi-car discounts can really add up, as do discounts if you insure both your car and house with the same company.
/quote]
when I was a teen, my first war was a 66 Chevelle, then along with some winter beaters had a 70 1/2 Camaro. Even liability and comp was high back then ( '77-80 ), but one thing that helped as I got into my 20's was no tickets. Did I drive like an angel? Nope. Could have ( and prob should have ) lost the ol' license several times, with many street races, plus lots of WI back road runs with a case of cold ones and nothing ( but deer ) on the road. But even hitting 21 with no tix or accidents was big. Then 25, still no tix, and getting lower rates. And it kept on and on. At 47 ( knock knock ) and still nothing on the record, it has helped both my wife and I enjoy good rates on whatever we drive. Want something sporty? No problem. Added mods to her car and wanted a rider to cover all the costs? Done ( and cheap ). Now I still enjoy driving, just do it smarter.
So if you can behave, it will get better. And if you don't live at home where you can take advantage of the folk's coverage, then consider adding renters insurance if you live on your own. That $100 a year you may pay for that coverage could yield dividends on your car policy. Just a thought anyhow...
Thanks for the info. Some friends at school ask me why I just drive around with no insurance till I can afford it. Sounded funny to me since get in a bit of trouble and your car is toast plus maybe even a ticket. Tho I will never do that I know some of my friends drive cross country with no auto insurance in their parents car.
Thanks for the info. Some friends at school ask me why I just drive around with no insurance till I can afford it. Sounded funny to me since get in a bit of trouble and your car is toast plus maybe even a ticket. Tho I will never do that I know some of my friends drive cross country with no auto insurance in their parents car.
Sounds like you are smart and your friends are morons! Driving with no insurance is very unwise!!!
Not only do you not have credit or driving history, you also don't have any adults to co-sign for you with good credit. If I were you, I would first look at getting all the "young driver auto insurance discounts" possible, such as:
- good grade discount
- driving class discount (take a safe driving class)
- get a safe car with safety features
I would also look at getting a 12 month policy (as opposed to 6 months)... those are cheaper!
So I plan to get my first car in a few weeks with $500 down. Car in mind is a 2003 Hyundai Accent since its the cheapest car at carmax in my area. I live in San Antonio, Texas, 18, male with no credit. All possible co-signers also have very bad credit.
On estimate, how much auto insurance would I have to pay? It all depends is different for each auto company but what should I at least expect to have to pay?
If you are getting a loan, lenders will not allow you to just have liability most of the time because their investment in the car. Males are rated higher than Females; age 18 plan on about $200 a month.
Depending on where you live the insurance on that car could run anywhere for $100-$250 a month. Having something that isn't financed you will be able to carry only liability. This will save you a fair amount of money but don't be shocked if its still over $100 a month IF you live in a city.
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sounds like you're in a tough situation
