2005+ Mustang GT... What can I expect to pay for insurance?
Does anyone know the average running rate for general insurance on a 2007-08 Mustang GT for a 16 year old male only for personal uses like to school and work? without and accidents or tickets?
try belairdirect.com or kanetix.com, not sure if they're both in the u.s. or not but i checked them out when shopping around for mine.. got a good quote from belairdirect but they would not insure me when i called in because of engine modifications
Im on with my parents and 4 cars insured, 6 years without any violations or accidents, Im a 21yr old male, and I pay $450 every 6 months. so figure 900 a year, but there giving us a really big discount cause of how many cars we have through them.
the cheapest rate I was quoted on my own, same conditions was $1100 every 6 months......
I am going to assume the vehicle will be new and the purchase may or may not be with parental financing.
First of all being 16, male, student, driving to and from school, to and from, nor for, work you have exposure for which the Insurance company will demand a very high premium, regardless of coverage. I believe even if the vehicle is in your name, as would be the insurance, as you are not 18, your parents would still be financially responsible for any claims placed against you. For this reason you should have high property and liability insurance to protect your parents assets. If they have no financial responsibility, you could really cut your limits as you have probably no assets to speak of to protect.
I can personally appreciate your desire to have the car. I also hope you seriously consider a less expensive direction and to a vehicle that will protect you and allow you to gain some meaningful driving experience. Not the answer you want.
So a quick answer to your question - big bucks.
here in NJ. a 18 year old will spend approx $3,800 a year, and thats with very high decuctibles. i assume out in michigan you will spend approx 3200 a year. just try doing an online quote. and just a word of wisdom.
When you do have points/tickets/accidents and you factor it in the online quote, they don't tack on the sur-charges until you buy the quote. Geicko did that to me. they said "o btw, you owe us an extra $580 every 6 months"
I am going to assume the vehicle will be new and the purchase may or may not be with parental financing.
First of all being 16, male, student, driving to and from school, to and from, nor for, work you have exposure for which the Insurance company will demand a very high premium, regardless of coverage. I believe even if the vehicle is in your name, as would be the insurance, as you are not 18, your parents would still be financially responsible for any claims placed against you. For this reason you should have high property and liability insurance to protect your parents assets. If they have no financial responsibility, you could really cut your limits as you have probably no assets to speak of to protect.
I can personally appreciate your desire to have the car. I also hope you seriously consider a less expensive direction and to a vehicle that will protect you and allow you to gain some meaningful driving experience. Not the answer you want.
So a quick answer to your question - big bucks.
I understand and appreciate your help and your advice to get a cheaper and safer car until i have been driving a while. Let me explain my situation a little bit further.
I have been sharing a 2003 Kia Rio with my twin brother for the past year. With winter coming it has become almost impossible to fufill my responsibilities such as a job and extracurricular activities when we both have conflicting schedules. I need another car just to be able to do anything. so i figured that while i am at it I might as well get something that i truly enjoy and appreciate.
Financially i would be able to make the down payment and the monthly payments due to a family member allowing me to be elligable for the Z plan though Ford, but insurance is the downer. I was hoping to pay for it myself but i might be able to get my parents to pay the insurance but only if it wern't an outragous ammount.
Plus who could pass on the beauty and power that is the Mustang GT.
I'm 20 my insurance jut dropped a lot since I been driving for over 3 years. I have a few speeding tickets, and I pay just about 5,000 a year full coverage for my GT. No accidents though.
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-A7X- ~Stang Syndicate Boston~*2006 Torch Red GT*10/10/07 Performance:Borla FRPP Stingers w/ True Dual Midpipes, Magnaflow High Flow Cats, JLT CAI, Bama 93 Race Tune, Ford Racing 4.10 Gears, Nitto 555 Extremes. Visual: Black AVS Tail Light Trim, Honeycomb Tail Light Vinyl, Black Racing stripes, 35% Window Tint, Trunk Blackout Panel, Billet Antenna Delete, Mirror Covers, 17" Konig "Further" Rims, Quarter Window Louvers, 20% Tinted Head Light/Turn Signal, Boss C-Stripes, CS/GT C-Scoops.
have you considered a V6? those are still a serious upgrade from a kia, and the engine will lower you insurance by plenty. now Im sure that a V6 is a little disappointing, but a mustang is a mustang, and I know some who have gotten a v6 into the 12's range with some upgrades. besides Gas will be a little better in the V6 also.
- just a sugestion; I waited an extra 6 months to save for a bigger down payment, because I couldnt afford much of a monthly payment at the time. I ended up putting 9600 down, with payments of 295 a month. you might be able to save longer for insurance, or try to get added with you parents plan, that is always cheaper! haha, and sometimes they will forget to ask you to pay them....
well, don't count out the GT just yet. I recently got quotes from several big name insurance companies (geico, progressive, state farm, etc.) on a financed GT, which means full coverage. For me, with 1 accident in the last 3 years, and 2 in the last 5, the V6 stang came in at a hefty 1900 for six months. the GT was only 200 bucks more at 2100 for six months. For that kind of hit, i might as well just say screw it and buy the GT.
My recommendation for someone your age is to buy a cheaper car that you are not afraid to wreck. Wasting money on full coverage insurance sucks.
Get a 94 or 95 or something, and pay the 60 bucks a month for liability, and drive the snot out of it.
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i think that its the opposite. im 16 and i have an 06 gt, and i drive VERY carefully when theres any sign of other cars, because im so terrified of wrecking it or getting a ticket and having the insurance go even higher.
what my family did was put the stang under my dad, the pontiac grand prix under my mom, and the minivan under me. We have kemper, and everyone in the family is allowed to drive any car in the plan.
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2006 Black on Black Mustang GT auto
premium package, interior upgrade package, 18 inch wheels, C L Cai, CDC qtr window louvers, flowmaster exhaust,graphic express red rocker stripes, red brake calipers
NEW: 93 Bamachips Race Tune, pypes o/r h pipe
2005+ Mustang GT... What can I expect to pay for insurance? 
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