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  #31  
Old 11-13-2014, 12:17 PM
*BigSexyHunter* *BigSexyHunter* is offline
 
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Originally Posted by riden View Post
60 001KMs
Speaking from personal experience? haha
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  #32  
Old 11-13-2014, 12:27 PM
Dan4570 Dan4570 is offline
 
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Your insurance quote is pretty average,given your age and driving record. If you stay clean for another 6 years,your insurance will be halved. Once you hit 25 you will also see a significant decrease.
Probably the best thing to do at your age is buy used,and only have liability insurance. wouldnt be more than 2000$ on average. I also got stuck into your mindset when I was your age. 10 years later i realized how much money gets ****ed away on insurance and new trucks.
Thats the problem with society today,it makes us believe we need that 70,000$ truck and the 600,000$ home. Because we DESERVE it...
  #33  
Old 11-13-2014, 12:29 PM
bison bison is offline
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Originally Posted by Junglefisher View Post
Explain please?

OP, shop around, shop around and shop around some more.
I was told by a broker that insurance companies have quotas. If they have too many 18YOs on the books for your area, they don't want more so they put the price way up.
If you want to buy a shiny new truck then do so. I'll almost guarrantee at some point you will regret it, but that's how we learn (well, some people do).
Farmers pay way Iower premiums on farm vehicIes.
I think on my 1/2 to 1 ton trucks it's +/- $125 a year ...IabiIIity onIy.
I have nothing newer than 07.
  #34  
Old 11-13-2014, 12:30 PM
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At 18 the least intelligent financial decision you can possibly make is to buy that truck. All it will do is depreciate and you'll be forever in debt. Buy a cheap used vehicle for cash, no debt. If you can't pay up front you can't afford it.
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  #35  
Old 11-13-2014, 12:32 PM
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There were two things I told my children (4 of them) about vehicles when they were growing up:
1) I'm not buying you one! (and no, you can't borrow mine)
2) the cost of the vehicle is the cheap part

The youngest is now 21; two of them have never owned a vehicle and the eldest was over 25 before he owned a new one.

Actually, I lied... I told them three things about vehicles. The third was that they needed to know how to do basic maintenance on a vehicle.

ARG
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Quote:
Originally Posted by sjemac View Post
It has been scientifically proven that a 308 round will not leave your property -- they essentially fall dead at the fence line. But a 38 round, when fired from a handgun, will of its own accord leave your property and destroy any small schools nearby.
  #36  
Old 11-13-2014, 12:32 PM
roughneckin roughneckin is offline
 
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Quote:
Originally Posted by *BigSexyHunter* View Post
***If you all really want to know im a 4th Class Power Engineer (Started in grade 11) making $5500 a month after taxes. (Plus incentives, bonuses, etc.) I'm at a very stable company and position within my company. And this wage is an entry level wage. Im not usually one to say my wage but you all kinda asked for it. Im not some kid that has had everything handed to him on a silver platter.***

I rent a nice acreage in the country with a roommate-keeping my rent costs down.

I also own my own car, boat, quad, guns.... All without any financial family help.

I wanted a new truck because I can afford a new truck. (Or so I thought lol) I have worked my butt off for the reason of being able to live completely independent from my parents, and living very comfortably at that, all at the age of 18. With no Debt. AND with money being put into a RSP Mutual Fund.

Also-What does my name have to do with anything?
Can you afford the truck or can you afford the payments for the truck? It is something to consider.

Also the insurance companies don't care how much money you make they are in it for themselves and their shareholders. That is it.

On the used truck side, from personal experience if you know about mechanics and vehicle maintenance then go for a used private vehicle, this will save you from the dealer extras, but if you don't look at the used vehicles at dealerships. They will hopefully not sell junk, it will have a once over done on it, and they can sometimes get you not bad interest rates.

Good luck in your search for both.
  #37  
Old 11-13-2014, 12:32 PM
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Quote:
Originally Posted by *BigSexyHunter* View Post
So now im left wondering how many KM's is still good to buy a used truck? I have only owned cars up to this point so I could afford gas and insurance on my own.

At what year and KM's (generally) do trucks usually start having problems with them?
I'm 35, been driving since I was 17. I'm on my 3rd vehicle, I always buy 3 to 4 yrs old with 60 000 to 80 000 km, it cuts down the price by 50% and I get 6+ yrs of driving with only regular maintenance...... so far
  #38  
Old 11-13-2014, 12:37 PM
pilotguy89 pilotguy89 is offline
 
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Quote:
Originally Posted by CaberTosser View Post
At 18 the least intelligent financial decision you can possibly make is to buy that truck. All it will do is depreciate and you'll be forever in debt. Buy a cheap used vehicle for cash, no debt. If you can't pay up front you can't afford it.
Exactly!
  #39  
Old 11-13-2014, 01:02 PM
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Quote:
Originally Posted by *BigSexyHunter* View Post
So I finally decided to buy myself a brand new F-150.

Im 18, male, licensed in 2011, I have been in one $6000 accident, no other offences.

I went to the local dealership, looked at trucks, worked out all my financing, and took it for a test drive to the insurance place(s). $8500 a year.... (Thats with a $2000 deductible on collision, $2,000,000) That works out to more than the truck payment. Both insurances companies (A local broker and the co-operators) seemed very surprised it was so high. This is for full coverage as is required to finance a vehicle.
This is damn robbery, theft, BULLS**T.

How do they expect somebody who is 18 & living alone to afford this? Mommy & Daddy? Not me. Its not like I could not afford it, but I wouldn't be living very comfortably. AND this is me having a very good job. I cant even imagine how somebody going to school could afford this.

Im just wondering if anybody has had a similar experience,
and if anybody would know a sneaky way to get this price WAY down?
Is full coverage required to finance a used vehicle as well?
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  #40  
Old 11-13-2014, 01:02 PM
sapper6fd sapper6fd is offline
 
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The the insurance companies, you are a high risk group, even though you yourself may not be.

A: You're Male
B: You're under the age of 25
C: You're not married (I'm assuming)
D: You have a short driving record
E: You have one accident. The value of the accident makes no difference. An claim is a claim.

I pay around 1260 a year for my 2013 Ram 1500 Laramie, but that's because I'm outside of that high risk category. That includes A $500 deductible for my collision & Comprehensive and 1 million liability.

When I first moved to AB in 2005, I was 24 and for my Mazda 3 the insurance was $4500 a year. As soon as I was 25 it dropped to around $1800.
  #41  
Old 11-13-2014, 01:17 PM
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Quote:
Originally Posted by *BigSexyHunter* View Post
***If you all really want to know im a 4th Class Power Engineer (Started in grade 11) making $5500 a month after taxes. (Plus incentives, bonuses, etc.) I'm at a very stable company and position within my company. And this wage is an entry level wage. Im not usually one to say my wage but you all kinda asked for it. Im not some kid that has had everything handed to him on a silver platter.***

I rent a nice acreage in the country with a roommate-keeping my rent costs down.

I also own my own car, boat, quad, guns.... All without any financial family help.

I wanted a new truck because I can afford a new truck. (Or so I thought lol) I have worked my butt off for the reason of being able to live completely independent from my parents, and living very comfortably at that, all at the age of 18. With no Debt. AND with money being put into a RSP Mutual Fund.

Also-What does my name have to do with anything?
This is awesome
  #42  
Old 11-13-2014, 01:27 PM
eric2381 eric2381 is offline
 
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This is my opinion.

It sounds like you're doing well. Right on. And you're renting, not owning a home.

My suggestion is to buy an older but reliable vehicle, and put the money towards buying your own place.

A guy told me when I was young, "girls want a guy with brains and money, not an idiot with a nice truck and no money"

My 2 cents. Good luck.
  #43  
Old 11-13-2014, 01:47 PM
LCCFisherman LCCFisherman is offline
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You're the man BIGSEXYHUNTER
  #44  
Old 11-13-2014, 02:04 PM
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18 year old, can afford a NEW F-150 and still swing $8,000 in insurance premiums. This indeed the land of milk and honey. Good for you my son. Don't forget to save some of that $. I hope with a car, boat, quad, and now a truck that you aren't too far into it with the banks. Common problem here in Alberta. Living the high life, one step away from bankruptcy.

And yes, the insurance companies hose good young drivers, but that is the nature of insurance. You pay for a few bad eggs.

Last edited by Okotokian; 11-13-2014 at 02:10 PM.
  #45  
Old 11-13-2014, 02:05 PM
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Quote:
Originally Posted by sapper6fd View Post
The the insurance companies, you are a high risk group, even though you yourself may not be.

A: You're Male
B: You're under the age of 25
C: You're not married (I'm assuming)
D: You have a short driving record
E: You have one accident. The value of the accident makes no difference. An claim is a claim.

One of these five cannot be used to underwrite your file. Guess which one. Next - insurance co's use past behaviour to determine future behaviour. in 24+ months you netted a loss in your accident and also you get lumped in with the majority of them. In the case of an 18-22 year old male with an accident you are more likely to have an accident than any other cohort, the severity of that accident is likely to be greater than any other group (try 5X greater than say a person with 20 years experience). Once someone gets hurt the costs go up like mad. It sounds like you have your poop in a group and perhaps you are a good driver so you're suffering at the hands of those who are not so good. The liabilty part of your policy is a fixed amount no matter what company you go with. The collision and comp coverages are a free for all so shop around and tell your story.
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  #46  
Old 11-13-2014, 02:06 PM
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I'm 18, one accident totalling $40,000. I am paying $5000/year for a $8000 truck.
  #47  
Old 11-13-2014, 03:15 PM
avb3 avb3 is offline
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Quote:
Originally Posted by *BigSexyHunter* View Post
***If you all really want to know im a 4th Class Power Engineer (Started in grade 11) making $5500 a month after taxes. (Plus incentives, bonuses, etc.) I'm at a very stable company and position within my company. And this wage is an entry level wage. Im not usually one to say my wage but you all kinda asked for it. Im not some kid that has had everything handed to him on a silver platter.***

I rent a nice acreage in the country with a roommate-keeping my rent costs down.

I also own my own car, boat, quad, guns.... All without any financial family help.

I wanted a new truck because I can afford a new truck. (Or so I thought lol) I have worked my butt off for the reason of being able to live completely independent from my parents, and living very comfortably at that, all at the age of 18. With no Debt. AND with money being put into a RSP Mutual Fund.

Also-What does my name have to do with anything?
A very wise man once told me it is not what you make, it is what you spend. I have not owned a new vehicle since I was 21, and never will. There is no way I will pay for that depreciation. I have not had collision insurance on a vehicle since I was 24, when my last new vehicle was paid off.

Buy used and save the difference. Heck, buy a 3 year old used one for cash. After a month, who can tell the difference?

As far as when do vehicles have problems? It depends, on what they are and how they were used. I have a van currently with 250k on it. It runs well, but the one power door lock doesn't work. Oh, and the rear windshield wiper. It might be good for another 12k or 100K. It doesn't matter.. I've been driving it for 3 years now, and the amount I paid for it was less than half of your insurance quote. All I have done is a wheel alignment, oil changes and a set of tires.

It is not what you earn. It is what you spend.
  #48  
Old 11-13-2014, 03:22 PM
fish_e_o fish_e_o is offline
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Quote:
Originally Posted by Junglefisher View Post
Explain please?
Farm rates are super cheap i was paying under $1000 a year when i was under 25 for full coverage
  #49  
Old 11-13-2014, 03:34 PM
ren008 ren008 is offline
 
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Could always "move" to sask and get plates there. Tons of guys getting away with it, just gotta make sure your story is straight and you have some paperwork to back it up.
  #50  
Old 11-13-2014, 03:36 PM
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Quote:
Originally Posted by ren008 View Post
Could always "move" to sask and get plates there. Tons of guys getting away with it, just gotta make sure your story is straight and you have some paperwork to back it up.
how exactly does this work?
  #51  
Old 11-13-2014, 03:36 PM
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16 years old with a '77 Firebird PLPD only was $3500
38 years old with a loaded F-150, 2 drivers, clean abstract and 5 million commercial liability with everything but glass coverage - $1884.00 a year

It's all about keeping the driver's profile clean, and getting old.

I started with a used car because I was told by my broker at that time that as a man under 25 it really didn't matter what I drove I was going to pay top dollar for insurance, but at least with a beater I only needed basic liability versus full coverage.

As soon as you finance you double your insurance because the finance company wants their assets covered, so until you pay them, you have to carry full coverage, and they usually insist on the lowest possible deductibles, which also increases the premium cost.

If your insurance is going to cost you more than the vehicle - find a cheaper vehicle.
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  #52  
Old 11-13-2014, 03:37 PM
fish_e_o fish_e_o is offline
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Quote:
Originally Posted by PGH View Post
how exactly does this work?
illegally
  #53  
Old 11-13-2014, 03:50 PM
nekred nekred is offline
 
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So you have been in one accident and expect to pay cheap insurance, while being part of a high risk group.....

The way the insurance company looks at it.... you are a high risk driver. This comes down to attitude, being under 25, having a good job, making big money etc. etc. etc.

Look at it this way... if you lost you job tomorrow could you survive for 6 months with your lifestyle?

Go look for a 2-3 year old truck from someone who used to be in your situation and then realized that they were living beyond their means.....

Buy a cheaper vehicle and invest $1000 a month for 2 years and have $250,000 at 55 to buy whatever vehicle you want and be able to afford the insurance....
  #54  
Old 11-13-2014, 03:52 PM
nekred nekred is offline
 
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[QUOTE=Dan Foss;2615129]I went through the same. And $4000 a year on a new truck is still VERY high. Im 27 now. My Accident Fell off my record 6 months ago (it takes 6 years). My insurance is now finally at a reasonable price. I tried to buy a new truck when I was 23 my insurance payments would have been more than the truck payments. Thats what you get with Privatized Insurance. For a couple years I actually switched everything to BC (I had a buddy living there, used his address) and got insurance without carrying my driving record over (so essentially registered my vehicle as if i was a 16yr old with no record) and Paid half what alberta companies wanted me to pay.

QUOTE]

You just admitted to fraud.....
  #55  
Old 11-13-2014, 04:00 PM
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There are a few awesome things about being a female in my mid 30s.
This is one of them!
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  #56  
Old 11-13-2014, 04:03 PM
Takemeoutside Takemeoutside is offline
 
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A little off course, but how is it constitutional/legal for the insurance companies to charge more based on age/gender etc? Driving record is obviously applicable. I mean there are so many laws and they are being applied more and more often that you can not discriminate based on these attributes yet they will plainly tell you that is the reason. I'm 24 and have a clean record, paying approx. $1500 on 7 year old truck. It's not the worst, but based on my record am I not any more of a liability..... Also, next year when I get my box of driving talent in the mail for my 25th birthday then my rates go down a bit more, yay!
  #57  
Old 11-13-2014, 04:05 PM
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Quote:
Originally Posted by nekred View Post
Look at it this way... if you lost you job tomorrow could you survive for 6 months with your lifestyle?
..
I think this is what he is missing or don't believe will not happen because the company said so.
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  #58  
Old 11-13-2014, 04:26 PM
badger badger is offline
 
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Cripes I didn't buy (or want) a new truck until I was well into my forties. If you want it that bad I'm not telling you what to do but the price is fair.
  #59  
Old 11-13-2014, 04:35 PM
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Grizzly Adams Grizzly Adams is offline
 
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Quote:
Originally Posted by Vigsy View Post
Im 19 and to put insurance on a new f150 for me is only 4000 a year. Puts into perspective what a clean driving record can do for ya.
Amen. Still steep though, gotta wonder what a chick your age would have to pay ?

Grizz
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  #60  
Old 11-13-2014, 04:37 PM
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Quote:
Originally Posted by Takemeoutside View Post
A little off course, but how is it constitutional/legal for the insurance companies to charge more based on age/gender etc? Driving record is obviously applicable. I mean there are so many laws and they are being applied more and more often that you can not discriminate based on these attributes yet they will plainly tell you that is the reason. I'm 24 and have a clean record, paying approx. $1500 on 7 year old truck. It's not the worst, but based on my record am I not any more of a liability..... Also, next year when I get my box of driving talent in the mail for my 25th birthday then my rates go down a bit more, yay!
There is unequality and discrimination all around us those laws only apply when convient for those with the loudest voice and deepest pockets.just how it is.
One of the biggest b.s with insurance rates is how married people get reduced rates.
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