jim what are you talking about? jesus, give him a break... whats the harm in using your parents name to get cheaper insurance? i do it, and i dont plan on stopping untill it becomes the same price for me to put it in my name. how do you figure its "absolutely pathetic" to do this. from reading his post it doesnt sound like he is having problems AFFORDING his insurance, he can just save money if its in his parents name. are you saying that he should feel bad for "ripping off" AAA? insurance companies are a bunch of ******** who will screw you if you try to make a claim (not to mention they are evil huge corporations)... so basically my position is that tripple-A can suck my left one. fin!

 

I bought my car when i was 18 right out of high school.

The car is paid off now and I am graduating next semester, the only word of advice for college students owning an FD is to have another form of transportation. Im my case a beater car, and a motorcycle

 

$3000 down + 280/mo payments

 

Hmm.. will this become another FD/age debate?

 

+1

couldnt agree with you more. Hmm... get totally ripped off for being under 25 and driving a twin turbo 2 seater, or save a ton of money because you are on your parent's plan and save a lot of money.

 

My advice:

1) Forget about the FD...for now
2) Work the minimum amount. Just enough to avoid creating a debt while in college
3) Put as much time and effort as possible into school
4) Graduate & get a rewarding, high paying job (sometimes this part can be tricky, depending on your major)
5) Buy a house with a nice 2 (or even 3) car garage (plenty of room for car, tools, etc)
6) Buy a nice, low mileage FD & enjoy

...at least, that's what I did, and it worked for me.

 

I'm 19 and I've been saving up for years now. My uncle gave me an old pathfinder when I was 17 and I was t-boned in it not 5months later. Insurance gave me 4,800 for the truck and 1,200 for bodily injuries. I put that $6k with the $2k my parents gave me to get a car and the $2,500 that I had saved up working. Bought an integra, put down 210whp, sold it. Now with what I made selling the integra and all the money I've been pooling up over the last year I have enough funds to afford to buy and maintane and RX7. My dream has finally come true, but I've worked my *** off to make it happen.

 

I was 18 when I bought mine. paid 6000 cash, took out a loan for 5000 over 2 years. Payments are 230/month. Insurance under my mom's name. Sweet Jesus. It would have been 5000 a year for full coverage, and for God sake, you need full coverage. I pay 176/month for full coverage on my fd, and liability on my olf pos truck.

 

Actually, under comprehensive (everything but collision) its cheaper for me to insure a 94 RX7 than a 99 Integra. WTF.

 

its because its technically a 1.3L "hatchback" under some insurance companies who dont know better....some insurancy companies just dont get it.

 

I don't know if it's been said but a good rule of thumb in finances is to keep your monthly bills payable with "1" Weeks paycheck.

This is *almost* true for me now, but I am only working part time because of full time college (local community college). For me it's like 1.5 weeks pay to pay off the car. Once I work full time (January) it'll be even easier to manage.

Oh and btw- My quote is $140 a month for Full Coverage on a 94 Rx7 *PLUS* liability on a 92 Integra.



As well, I saved up for a long time, and took out a much smaller loan for the car

 

oooooohhh. thats so much!! (ironic)
i probably drive less than you and i pay aboute 100$ a week in gas.
you have it easy so stop complaining.
gas cost 1.3$ per liter over here,,,,
having an FD sucks when you fill her upp. (love it therwise)

 

Nothing. Save a buck that way if you want to, I don't care. But don't come in here bragging about how you paid cash for your car, putting everyone who makes payments down, talking about how easy it is to an afford an FD and mods, and then without pausing say "oh yeah, by the way, I dodge paying full insurance with my parents help".

Goddamn, some people are dense.

 

I gotta agree with Jim on this one

 

What are your plans for the FD? Juggling the responsiblities of owning one, while trying to manage a dedicated effort to education and a job can be very tricky...especially as the FD starts running into problems.

Also too, if you have a daily driver in the civic while owning the FD, then you will most likely be paying insurance and cost of finance (at what interest rate?) for an FD that will not be a primary driver. Along with school and work, are you sure it won't negate the purpose of owning one? If you must have one, take the time you'll spend saving to also learn the car inside and out.

save save save

 

Thanks for all the feed back guys. It has given me a good idea of what I will be getting into financially.

 

Full Time Job and Part Time School. Most of my pay check goes to the FD, Insurance and then the roof over my head. A good job is a must.

 

dude u took my post completely in the wrong way. I paid my for my fd in full 2 yrs ago with my hard earned money. I am a full time student now attending lafayette college 38k getting an international affairs and economics double major degree. Dont try to put me down acting as if I was born with a silver spoon in my mouth. Im just trying to be smart and using the money not paid on insurance to mod my car. My post was not intended as a put down, just telling how I afforded my fd as stated in the thread. There is no need to come in and start putting people down for trying to drive a great car. I mean seriously if u were in our position i bet u would be doing the same thing too. What type of car did u drive when u were 18,19,20

 

Not if you have a good driving record. I paid about $800 per year for insurance when I was 23.

I can't believe some of you guys pay $1000 per month to own an FD! There are sooo many better things to do with your money. Working 30 hrs per week just to pay for a car is idiotic.

 

If it takes you 30 hours to earn $1000 you shouldn't be spending $1000/mo on a car. The "on my parents insurance" thing is one of those grey area of the law like a lot of the "cheesy" tax deductions. Can you do it? Sure. Should you morally do it? Depends on who your judge is.

In college I drove a new bone stripped (not even rear bumper) model Tacoma truck. Nothing to break, reliable, good gas mileage, and a camper shell with a fouton pad in the back (instant camping or a place to sleep if you get too drunk at a party and saves on hotel charges on long trips).

I personally don't think you should own a FD unless you can afford to be without a car or you can afford to pay for an engine rebuild at any moment in time, if not you may end up without a car for an extended period of time. If you're using the car to "get chicks" you might want to look into some other "chicks" with a bit more substance.