insurance queston

[Merkur]

Hey just a quick question.

I am thinking of buying a new car but because of my age getting full insurance coverage would make it impossible. Is there anyway that i can buy the car and not have full coverage?? being that i will need a loan the outlook isn't so good.

tks

[bighead2267]

hm...........i think there is no way u can do it. why not call your insurance broker and get further info from them?

[hjr]

Normally it would be no problem, but as you mentioned, the loan issue is sticky. The bank may indeed want you to have full coverage on the car in order to finance it. Its best to go directly to them and see. Also, and absolutely no offence intended, but perhaps you should rethink whether a new car is the best course of action.

[in*10*se]

k, heres how it goes... i'm gonna do a harsh reality kick in your balls right now.... so hold on:banghead:

since you are probably under 21, and DON'T have a steady job that you have held for about lets say 2-3 years.... and that you don't have a credit rating for longer than 2-3 years.... you will NOT qualify for a loan, and if by some chance you do... you will have OUTRAGEOUS interest rates, because you probably will default... (interest rates like 16-18% equivilent to a credit card)you will also need your parents that DO have a steady income co-sign for your loan in case you default.... this will be the same for financing through the dealership as well, you will be rejected....

and you HAVE to get full coverage on ur vehicle, because you are on a loan, or financing, or leasing it...whoever gives u the money will not give it to u unless you put full insurance on it.....soo at your high risk age, i will put an estimate at around 4 to 9 grand, yes there is a huge range and that's because of drivers training (cuts insurance in half... ie. half of 9000 is 4500.), type of car, etc. lots of factors.
insurance for JUST yourself, you will not beable to afford because it will be ridiculous.

you should hope to god that you get a good interest rate lets say ... i'm paying 5.75% right now... so they probably give u it for about 9-18....

:dunno:

so now that you have this reality check.... do what all momma's boys do.... and go the the bank of mom and dad....



god i'm such as ass....:cry:



meh...:whocares:

[Merkur]

well i think i am going to go to mom and dad, i'm only 19 and my parents said they will probably go and take out the loan using their truck as collateral, and i will pay them the monthly payments until i turn 21 at that point i will take over the loan. unless insurance takes a big drop.