Junk

hey im interested in an rx7 thats for sale here in canada.

its a 1988 RX-7 Gx Coupe
it has 184236km on it
Also says it has no rust
not sure what it has for a motor cause its not listed

i was wondering how the insurance would be for me cause im 19 looking for a decent car and came across this beauty. the guys wants 2300 for it and im just asking around and seeing what people say because i have no prior knowledge about rx7s.

'Ryuji'

Insurance is a bitch, I'm 19 and own a JDM FD; if I were to go on my own policy I'd be paying around $900 a month . Think about it ; )

PKock

iTrader: (1)

Theres a pretty big difference insurance wise between an 88 FC and a JDM FD. They wouldnt want to insure a 19 year old in a regular FD let alone a right hand drive one. Your insurance wont be cheap but theres no way it should be that bad.
PK

Nick86

iTrader: (1)

50% of the insurance cost has to do with where you live. If you are downtown Toronto or Vancouver, expect to pay a lot. If you are in Quebec or a more rural area your insurance will be less. The best thing to do is call some places and get a quote. If you have access to group/fleet rates (CAA, big company, government etc) your rates are way less too.

As far as RX7s go, just be sure not to spend every cent you have buying it, because you will need to fix stuff on the car. Aaron Cake's website has good tips when it comes to buying an RX.

CloudPump

iTrader: (2)

For the record:

There is exactly a $0 difference in insurance costs between a 1988 RX7 and a 1992 JDM FD (what I have).

I'm an insurance broker, and I just ran the numbers through Compu-Quote.

(Also for the record: there is absolutely no differece in insurance between a LHD FD and a RHD FD)

The longer I spend in this business, the more I realize people have no idea what does and doesn't affect their insurance rates.

-Geoff

CloudPump

iTrader: (2)

...Getting there.

Yes, where you live is by far the biggest factor in determining the cost of your insurance. More than tickets, accidents or cancellations for non-payment.

However, let's not start throwing other provinces in the mix, that's comparing apples to zebras.

Ontario is definitely the most expensive province to obtain auto insurance coverage. This is mainly due to the policy that is sold in Ontario. When you buy your insurance in Quebec, Manitoba, or any other province, you are not buying the same product as in Ontario.

Each province has its own provincially mandated coverages, options and endorsements. You cannot compare one province to another.

-Geoff

PKock

iTrader: (1)

Geoff
Are you serious? How can there be no difference when the cars are vastly diffrent in horsepower and performance? I mean you obviously are gonna know more than I do if you work in insurance. Just seems so wrong.
PK

CloudPump

iTrader: (2)

The horsepower and performace of your vehicle are not (directly) taken into account in your rates.

I'll explain.

The factor(s) that determine the difference in cost between two vehicles are called its Rate Groups.

There are 4 different rate groups:

DCPD
(Direct Compensation, Property Damage)

AB
(Accident Benefits)

Col
(Collision)

Comp
(Comprehensive)

A numerical value is assigned to each one of these categories. for DCPD and Col this value is used to assess (in laymans terms) how much it's going to cost to fix your car in the event that it's damaged, and how much it's going to cost to fix someone elses car in the event you hit them.

For AB this value determines establishes how likely you are to be physically hurt in the event of a collision.

For Comp this is the value determining how likely you are to have your car stolen, vandalized, etc. and how much the company will have to pay you for your loss.

In all categories, the lower the number, the cheaper the insurance.

Both a 1992 FD and a 1988 Turbo II have the same rate groups:

DCPD 19
AB 02
Col 19
Comp 34

This is why there is no cost difference between the two cars.

-Geoff

Buggy

iTrader: (8)

That's a 1988 Turbo II though, he's buying a GX base model.....
I bought my 1988 GXL when I was 20 I think and it was like $2300 a year under my own name. Not bad considering I was paying the same amount per year for my 1995 base model 4 cyl Chev S10. That was only like 4 years ago.

thewird

iTrader: (8)

Before I bought my FD, I got some quotes on an FC and the insurance person basically told me that all FC's get lumped into the same category because of their age.

thewird

Nick86

iTrader: (1)

Very true. On the RX7Club mobile ap I couldn't see the [ON] before the thread, so I didn't know where in Canada he lived which is why I brought up the other provinces.

Junk

Thanks for the help guys. I live in Port Colborne, Ontario..
right now i only have my g2 but im going for my full g soon enough
because i know your insurance is cheaper when you get ur full g.

I guess il just post the kijiji link and hopefully someone wont snag it before me if its worth the buy haha. but here anyways n

http://toronto.kijiji.ca/c-cars-vehi...AdIdZ236428075

also since you said it needs pretty constant maitanence would i be in over my head paying for repairs because i am only 19 and plan on going to school fairly soon aswell.

Nismo Convert86

iTrader: (7)

Not bad, the hood well... I bet you can get it cheaper, it's an automatic, and the owner is obviously retarded, if he's selling it for a Mustang.

Junk

yeah i know. thats what i thought about the hood too.. and hes deffintly retarded

CloudPump

iTrader: (2)

Getting your G sets you on the path to obtaining cheaper insurance, but doesn't necessarily guarantee it immediately. I'm thinking you're one of the people that won't see an immediate savings, due to your age.

Your driving record or "star rating" is the number of years that you are licensed and accident free. By law, all "standard market" companies have to give up to 6 stars. Some companies, of their own volition, will rate up to 10 stars.

However, with a G2 license, the maximum number of stars you can have on your driving record is 3, and not with all companies. Some will only offer 2 stars unless you have completed driver training in the past 24 months.

Even if you are G2 licensed for 5 years, you will be either a 2 or 3 star.

However, if you're one of the people that's had a G2 for 5 years, and has been stuck at the 2 star driving record and you then go and get your G, you would be eligible to immediately jump to a 5 star driving record (as long as you changed insurance companies, I won't get into the semantics of new business vs. existing business).

This is where the getting your G will provide instant savings. However, if you are progressing normally along the graduating licensing path, your star rating will stay the same, but will not cap out at 2/3 stars (depending on company).

________________

I'm more than happy to answer any insurance related questions that Ontario members may have (I'm only licensed in Ontario). I see a lot of insurance topics pop up from time to time, and I try to correct a lot of the misconceptions out there that I see get posted, however, if someone has a question, feel free to start a topic or PM me. (A topic may be more useful as others will get to see the answers, but I also understand some issues may be private.

-Geoff

CloudPump

iTrader: (2)

A follow-up post on the rate groups listed above (and because I was lazy before).

a 1988 GX model has the following rate groups:

DCPD: 06
AB: 02
Col: 06
Comp: 06

Quite a difference. Running a quote through based upon *my* specific personal information, this leads to a premium savings of $349 between a 1988 GX and a 1988 Turbo II (or an FD for that matter).

Keep in mind that $349 difference applies to *me* the difference in premium for anyone else could increase or decrease based upon many different factors.

-Geoff

Nd4SpdSe

Ya, I kinda live in Port, my parents do, but I've been with travelling jobs for the last several years, currently with the army, but still, my parents place is home, and I'm home for the holidays.

I used to be with McAvoy on King, but they were slowly raising my (and my parents) rates. My parents went to Whites on Clarence and saved some money, so I looked into it when I came home during my summer holidays. They give several quotes through different insurance companies and the cheapest was with Novex, saved $30 a month on the Xterra, which balances out to cover fire and theft on the Rx-8 that I picked up a few months after.

CloudPump

iTrader: (2)

It may be semantics, but I feel the need to address something mentioned in your post.

McAvoy was not slowly raising your insurance rates. They are a brokerage and have absolutely no influence on what you pay for insurance. Your insurance company that they had brokered your policy through was raising your rates, and it should be noted that insurance companies can't just raise rates on a whim. Rate increases need to be applied for, months in advance and approved by a body of the Ontario government. If your rates are going up, you should complain to your Member of the Provincial Parliment.

However, this doesn't mean that a brokerage change wasn't a good move.

Insurance brokerages can't just write your policy with any company that you (or they) want. To write insurance with a company, a contract needs to be in place between that brokerage and the company. It's likely that of the companies that McAvoy had contracts with, whomever your policy was with, was the cheapest (at the time it was written) but that doesn't mean there aren't other companies out there that McAvoy doesn't have contracts with that have better rates.

Additionally, I would always advise that before you renew your insurance each year, contact your current broker and make sure that there isn't another company that they have a contract with that may have a better rate for you this year.

-Geoff

Nd4SpdSe

Ya, probably should of worded it better. With McAvoy we were with Dominion, not sure if they dealt with anyone else however. My parents did all the legwork on that change, but over the years, they kept asking and questioning them, but they kept saying that Dominion was the best deal and they always had reasons on why it was going up. M parents were customers with them for over 25 years. Maybe Dominion was the best they dealt with, but who knows, it was time to change to save some money.


Now, my insurance isn't expensive, I'm going on 30, 1 10-over ticket that I got about 4 years ago that would be cleared long ago, no accidents or claims. I started paying $106 a month for the Xterra when I got it it'll be 3 years in May, over time, that rose upto $138 a month. Now I'm paying $127 with the Xterra plus the Rx-8 on fire and theft.

Mr.Cool

iTrader: (2)

geoff could you see what kind of insurance i should be able to get? im paying 513 a month for my 88 gxl im 18 turning 19 on the 27th of december. i live in etobicoke. also i only have liability nothing else, clean record.

Bwek

iTrader: (4)

^^ $513 a month!!!! WTF

Mr.Cool

iTrader: (2)

ya and beleave me that was the cheapest i could find at the time, stupid insurance.

Bwek

iTrader: (4)

The most I ever payed for insurance was $249 on an 03 Accord coupe EXL and that was when i was 23

CloudPump

iTrader: (2)

I can get you some rates, I may not be able to write it personally, but I'll be able to tell you what you legally qualify for.

However, I'm going to need more information

PM me:

Full name
Address where vehicle is registered
Date of birth
Drivers license number

I'll pull your information and let you know what the numbers look like

-Geoff

FC3Sdrift

iTrader: (5)

my 2000 neon's insurance is higher than my 87 TII