I’m still continuing on the car-buying saga.
$5,752. That is how much I would pay each year for insurance if I were to get a 2003 Toyota Corolla financed. That is 50/100/50 liability (something about personal injuries up to $50,000 and total damage up to $100,000, I think) and a $2,000 (the max) deductible for collision and comprehensive. If I could pay cash for the car instead of financing through an auto loan, I could get liability-only coverage for $2,150, but I wouldn’t be covered for collision and comprehensive. Getting a 2000 Corolla instead of a 2003 raises the total to $5,833.
Looks like it’ll be a long time before I’ll be able to afford to drive in New Jersey.
I’m sick of all these posts here dealing with money. Next post will be about music, I promise. Don’t forget to check out Flexo though.
Madre de Dios!
Dude. I feel your pain.
You could always opt to drive without insurance, you know how like life insurance and homeowner’s insurance are optional.
*shakes his head*
Fuuuuuuuuuuck, that’s a lot of loot.
When I moved to NJ from MI, all I could afford to do was ride a motorcycle, which I did for about two years before I could afford car insurance. Liability on a motorcycle is dirt cheap, since you have little chance of causing anyone else much damage. Something to keep in mind, I guess, if you’re hard up for cheap (but not always convenient) transportation.
It has been suggested to me before, but I don’t think it’ll be the right thing. Instead of doing one huge shopping trip a month, I’d have to get food every week so I could fit the groceries in the cargo box.
why not just pay cash for an old junker and pay the liability. That’s what I did when my insurance was that high. Then you can just get a new car in a few years when your insurance goes down…
A friend was talking about esurance, I think. They are supposedly good and inexpensive.
Good luck though – and I think that in this day and age, going uninsured is not an option: Third party liability can eat you alive.
Ugh. That’s awful.
Why does the slightly older car raise the amount?
I used to have a junker. It was always in the shop. I don’t want to repeat that experience again.I wouldn’t qualify for esurance because of my driving record.And, I don’t know why it’s more for the older car. Possibly because of the different (fewer?) safety features? Maybe there are accident statistics that vary between the two years.It looks like I’ll be borrowing m old car when it’s not in use on some weekends. That’s probably the best solution for now.