Hey everyone, I need some advice. Is there any company or way to get a lower insurance rate than what I’ve been quoted? I make good money, but I refuse to pay this much because it feels way too high.
I’m 18, and I’ve had my license since I was 16 with no issues – no accidents, tickets, or gaps in coverage. My past cars were Mustangs and other sports cars, and my insurance was between $100-300 per month, which seemed fair.
I just bought a 2015 BMW M4, but even with the lowest coverage, they want $1124 per month after tax! That’s with no driving faults on my record.
I know it’s a “high-end” car and sportier than what people my age usually have, but I still think there should be a limit to how much insurance costs, especially for a car under $40k.
Any advice? Should I just sell it and go back to my Mustang? I was hoping for something nicer but didn’t want to give up speed.
Thanks for reading.
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You didn’t want to compromise on speed. Your insurance company understands why it charges higher premiums for M series BMWs.
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I get that, but the Mustang is no exception. I’d understand it more for a “luxury” tax or something, but my Mustang was actually faster than the M4, lol.
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The repair costs for a BMW are significantly higher.
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I know, but an extra $800 a month? For that amount, I could get my dream car and take out a loan! Oh, but wait; insurance would cost more than the loan.
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You’re 18 with two years of driving experience and a high-performance vehicle. It’s good to shop around and hope for the best, but definitely be prepared for the worst.
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I understand, but after doing more research and getting more quotes, I’ve realized it’s really just this car that’s expensive. I just got a quote for full coverage on a 2017 Corvette at $450 a month. I just don’t get why the M4 is so much higher.
I really wish they’d put a cap on insurance prices for people like me.
That shouldn’t impact the cost of insurance, though.
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It definitely can happen. I was anticipating around $500 for it. Insurance does take repair costs into account.
You’re 18, so let’s wrap this up. You really don’t realize how fortunate you are to be driving a BMW at your age. Just accept it and be humble; it’s not as serious as you think.
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“Accept it and be humble.”
Are you serious, lol? I’m quite humble; I work hard for what I have.
I came here to see if there’s a reasonable way to insure it, and now you’re upset that I’m driving it, lol.
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The second sentence of your post states, “I make pretty good money,” which is irrelevant to this discussion. You clearly don’t understand the meaning of humility if you believe you’re being humble.
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I described my financial situation and mentioned that I could afford to pay it, but I questioned whether I should.
It makes sense to just deal with it, lol. Paying $800 a month for insurance at 18 will likely lead to problems. I get that you want to make it work, but life is much more complex than just figuring out how to keep a nice car.
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That’s why I mentioned that if I can’t get a lower price, I’ll sell the car.
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That’s the right decision, even though it’s tough. I completely understand.
You’ll get your dream car back; I admire your determination at such a young age, so don’t stress about it.
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Thanks, man. I apologize if I came off a bit aggressive at first. It felt like you joined the conversation just to label me as privileged, haha. For now, I’ll stick with the fun cars that aren’t as high-end. They’re still great vehicles, so I’ll save the upgrade for later.
Yes, sell the car and prioritize more important matters. Find a hobby that doesn’t require monthly expenses and doesn’t lose value. You’ll appreciate this decision in ten years.
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Absolutely, that’s definitely the wise choice. I just can’t seem to discover any new hobbies. I found everything I enjoyed a few years back, but now they don’t feel as exciting, haha.
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Life can be quite puzzling at times. I had to relocate to a different state to discover hobbies that I can genuinely enjoy on a regular basis, especially after living in Texas, where the weather is unbearable.
That said, insurance for that car is likely going to be pricey for a bit, haha.
You seem quite driven for someone who’s only 18. There’s no rush to get everything you desire right away. It’s easy to feel that way, but remember, you can’t get that time back. Achieving balance takes some effort at first.
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