Hey so I had some questions about what I should be doing about my future car insurance. Right now im paying like $110 a month for a rebuilt 2017 jetta gli with one accident on my record from 20 months ago. I've started getting heavily into finances like opening a Roth ira, starting a better credit card. My plan is to get a new car in ~2 years. Specifically a financed 2020-2021 Amg E53. With my current details some quotes came out to like 400 dollars a month. Obviously this is a little wild. What kind of things can I do do get this number WAY down. Im not niave as to think that a new merc is gonna have cheap insurance but still. I have 750 credit right now and im on a strict schedule to use my credit and pay it off all the time and open a 3rd better credit card in about 18 months. I expect ill have around 800 credit by then and of course ill be older and the car will be older. I expect to start working in about 5 months after I get out of college. Thoughts, advice?
Posted by MaxPavlenko1475
3 Comments
Nothing. If you want to buy an expensive fast car, you will pay expensive, fast car prices.
An at-fault accident stays on your record for 3 or 5 years, depending on the state. Find out how long it is until yours drops off, then get your new car. Other ways to get discounts include some employers and multi-policy (combine with renters or home insurance).
Talk to an insurance agent. They can shop around and get you the best deals, and also let you know the specifics of your state
You want to go from a 2017 VW with a salvage title that probably has liability only, to a newer AMG Mercedes which will require comprehensive and collision coverage. You’re in college, so I’m assuming you are younger and have limited driving experience. You have a recent accident that you did not say if you were at fault or not.
What do you think you should be paying for insurance? If you don’t like that quote, keep shopping around. If you can’t find a lower quote, then shop for a different car.