Right now I am 16, I live in a suburb of Toronto. I plan to buy a car for about $2000 - $5000 (most likely preowned).

how much will this set me back for insurance? i understand that different companies offer different prices, however a minimum/maximum value will be fine.

Insurance is based on a few different variables , from what I hear. Most companies offer some sort of "good student deduction" where you dont pay as much if you show proof of a 3.0 GPA or higher. If you buy a sporty kinda car obveously the price will go up and if you have any kind of criminal/shady record, it will go up. I am an honor student, 16, and no criminal background or anything and I think im looking to pay about $300-6 months I believe...

The place I was quoted at said %10 off if you are in the "3.0 GPA" group, so if you arent, add %10 and thats a rough estimate. Also, im in the US, so that might make a difference for you.

SmartTart

[This message has been edited by SmartTart (edited 07-19-2005).]

Everything is a factor,

how far you drive in a week

if your car is red (it will be higher)

two or four doors

where you live (as in neighborhood vs. downtown)

GPA

age of car

cost of car

if you use the car for work, as in delivery

if the car has a waranty

and being a minor, your parents driving record will effect your insurance



I'm sure theres something that I missed too.

how do i find an accurate value of what my insurance will be?

btw i plan to buy a cheap, four door sedan, from the late 80s to early 90s. im still not sure as to exactly which one. any suggestions?

Sounds like a good car for keeping your rates down for the most part. Make sure you dont buy red though, that ups it abit. From what I know, I would say like $370-$415 or so for a 6 month coverage.

Good luck getting insurance for 400 dollars for 6 months of coverage. I have a clean record, 3000 dollar car and just basic coverage for my car. 1600 dollars for 6 months.

Edit: I'm also older than 16, so it would probably be higher for you.

[This message has been edited by anon99989 (edited 07-20-2005).]

My insurance is $600 every six months. I drive a teal 95 Saturn SL1. I am 19 and my driving record is perfect. However, I drive 70 miles per day.

BTW: I am cheap, so I am on my father's plan. I just pay him instead of the insurance company. It's cheaper that way.

Oh, another thing, if you are looking for a decent and cheap car I would recommend a Saturn. I have had this car for 7,000 miles (193K-200K) and other than the fact that the engine burns a quart of oil every 1000 miles, I have had absolutely no problems. Saturns are typically cheap and reliable, in my experience, anyway.

Note: Foreign cars typically are more reliable, yes, but they are also far more expensive.

Shit, Im 20, married, with no traffic violations (one minor accident), and I pay 150 a month for my half of the insurance.

Of course I drive a late model Lincoln Continental.

I suggest you go for a 98' or 99' Lincoln, above average in reliability and only about 6k if you look around a bit.

[This message has been edited by Fascistsmasher (edited 07-21-2005).]

Smart Tart what insurance company are you talking I havent seen one under 700 for six monthes

honestly, I dont know. I was talking to my mom about it, and she was on the phone with "them" and thats about what it came out to be, -%10 for the GPA thing..

Ill look into what company it was and get back to you

SmartTart