first car, insurance

[mr. t]

Hey guys, I'm new to the forums, and to the car ownership world. I just finished my first year of university, and I'm in the right situation that will allow me to buy a car.

I'm thinking a 95-99 BMW for around $5000. If you've got other suggestions, I'd like to hear them, but BMW seems to be the only make that satisfies all three of my main concerns: standard transmission, RWD or AWD, and decent power. I originally wanted a WRX, but they're pretty hard to come by in Ontario, it seems, especially at that price.

I went through a few sites like kanetix.ca for some quotes to give me an idea of what I'd be looking at for insurance. It seems most companies expect me to pay about $8000 a year. When I got a quote from TD, however, it was as low as $4000 with decent coverage, and just over $3000 with as little coverage as possible. When I finally do get a car, I'll be sure to get a broker. How much should an 18 year old expect to pay in Ontario?

I think I've got a few things that can bring insurance down - no past tickets or accidents, good grades in engineering at university, being a good kid, etc

I'm a truck driver in the summer, insured by another company through work. Is that something I want to make my insurance company aware of? Since they won't have to insure me for when I'm driving the truck, one would think that it would be seen as a good thing - I get plenty of driving experience with a vehicle that is difficult to operate, and I've been through an additional professional driver safety course.

I guess that's all for now. I appreciate any help, and if I have more questions, I'll post them up.

[rumeo]

Just in my experiences, don't get a car that's gonna cost you an arm and a leg on maintainence if you're a student...

[Masked Bandit]

You probably shouldn't ask an Alberta based site about insurance in Ontario BUT knowing the systems are similar with the exception that Ontario is quite a bit more expensive than Alberta, I suggest you stick to a car that you are willing to drive with just PLPD coverage.

[mr. t]

ok, well can you recommend any other cars that meet those requirements? Audi works, too, but I thought maintenance was even more costly. I guess Mustangs fall into that category, but I don't know if I want a 2 door because of insurance and practicality issues.

And any thoughts on the whole truck driving thing?

[Abeo]

Insurance companies don't care about your truck driving experience. All they care about is your driving record (how long have you been driving, how many tickets), and how long you've been insured... ie how big of a risk are you. Get your G license if you don't already have it, that helps lower your rate. Also, you should probably find a lower cost car to drive to university, build up your good standings with the insurance companies, and save some money until getting a sportier car makes more sense.

Since you are in engineering, try TD Meloche Monex (you may have to join the PEO)