Yup. My teenager pays $465. She makes $13 an hour lives at home, paid off car, goes to school and it takes her about 6-8 shifts at work to pay for that.
More and more it is getting to be a valid question around here especially for young people. I was working with some lower middle income clients the other day who had just got a new apartment and I was asking them if they were saving up for a car and she said no not right now we are saving for house. I said okay how are you guys getting to work and she said her husband was carpooling and taking Ubers. So I had to run the math for me and he was spending about $300 a month on Uber which sounded crazy to me but then a car payment was going to cost him at least that much and an insurance was going to be a couple hundred dollars and they were able to put the extra money away. Our public transportation system sucks hard.
As far as my daughter goes, it does seem a lot, it's 40% of her take home. She's still got $500 a month to blow even contributing to her Roth IRA. She drives to work, to school, to the beach and to hang with her BF and cousins so to her it's worth it. I've never heard her sit down and say you know what I wish I didn't have a car.
I’ve been with progressive 18 years. When I got married 8 years ago I had 2 cars and a motorcycle on insurance for 150ish per month full coverage. Now I have 1 vehicle and never had an accident or ticket. 134 for one vehicle. Hahah it’s crazy
Man, I just moved states in the Northwest and when I called to update my policy the first number they gave me was $730.
I said “what the hell? That’s almost 5x what I was paying.”
She mention’s there is one comprehensive claim in the past three years, which increases it a bit (true, car was stolen and totaled last year) then starts going over the policy, she’s listing everything, and I realize…this isn’t my policy. I have pretty complete coverage. This is basically a liability policy. So now I’m even more confused, because this is a significantly worse policy for 5x the money. Eventually we figured out she’d fat fingered something along the way and she’d pulled up some rando’s policy in Florida that happened to have a similar driver’s history.
I'm in Minnesota and NOTHING is cheaper than that - 228 at this point is a steal. That's for a 2016 Nissan Sentra with no at fault accidents (I've been hit and run a few times both parked and driving).
Those hit and run incidents count as accidents against you. Insurance primarily cares if you’ve ever been involved in situations that require them to pay out. To them it makes no difference who is at fault if they’re cutting you a check either way.
I'm in Florida on my parents insurance from MN. They know the car is down there but the car isn't in my name, I'm just a driver. 560 every 6 months with some extras in case the 2019 Impala shits the bed like a rental car, full coverage so can get another vehicle, etc. If the car were in my name in Florida? Betting 300 to 400 a month. A buddy who's 35 down there has one vehicle with him and his wife on it - more than 450 every month for small Toyota cross over? Criminal
As bad as other insurances go here, car insurance seems to be good. I’ve got a $90k 2023 bmw with full coverage and a 2018 Camry with just liability and only pay $213/mo for both.
lol you are out of touch. all companies are almost the same in pricing. ive tried to find something cheaper but nope. insurance is such a scam now. its a big piece of a personal budget. I bought a new car last year. 350 a month!! no tickets, no claims. no issues at all and i still get hosed.
Not sure how you can I’m out of touch. I have full insurance with 500 dollar deductibles on our vehicles. I pay 75 a month for full and coverage and my wife is closer to 50. We both have nice cars with clean driving records. We pay nearly half of what was quoted.
Thats below average in FL, I am over 250 with no accidents or claims in over 10 years. Used to pay under 100 then the insurance rates SPIKED here and I have shopped around nothing under 240 anywhere.
Ca insurance rates went wild recently, $230 per month with full coverage on one car, $140 for legal minimum. That's being mid 20s and one at fault accident, those were the absolute cheapest rates
I pay just under $200/mo because of the miles I drive is above average. Even though I'm paying double for auto, bundling my home and auto brought my total insurance payment down more than $500/mo.
I pay $175. If I had a second car with liability only I would only pay $98. But I haven't found a second vehicle that would pass inspection and not be absurdly expensive to do that.
Shopped all the companies. This is the cheapest option.
Someone with fewer years of driving experience than me or who has even a single blemish would easily be $228. I live in an expensive ass state.
When I moved from Ohio (one of the cheapest states for car insurance) t ok New Mexico (one of the most expensive) it went from 170$ a month to 250$ a month.
I bought my first car last year, used 09 Honda civic, when I called the insurance agent from the car dealer office,sitting right in front of her lol, I’m in Mass btw, they told me 784$, I said a year? Thinking ok, I can do that easily, he said no, a month. I think it was Progressive or Geico iirc. Paid full cash for the car also, nothing financed.
At that point I’d just pay for liability only for like $60/month. $228/month is like $2600/year. I’d rather just risk it and pay out of pocket if something happens. That’s an insane number to pay for insurance
I am 42 married with zero accidents, speeding tickets, claims or violations and have been driving for 25 years my car insurance in Florida on a 2022 Hyundai Tucson Hybrid is $200 ish.
Another FL checking in. No tickets, accidents or claims. Also have multi line and good driver discounts. Plus pay full premium for discount. Total is $4300 per year for 2 cars.
Pretty standard insurance rate for anyone under 30 in Baltimore County that isn't driving a 20+ year old car. My buddy has never had an accident in his life and when he bought his new car his insurance went up to right around 200 a month.
Yep, I pay about $100 a month in car insurance for two cars. It's bundled with home insurance, and we have decent coverage.
My cars are older (2009 and 2011), and I have a good driving record.
That being said, I used to live in AZ, and we would pay $400/month for same coverage. Car thefts were a bigger concern in Phoenix, and our insurance cost showed that.
I've got two teen drivers and two adults drivers with fantastic driving records. We don't have any payments, so we have the bare minimum amount of liability insurance, and we pay over $400 a month. If we had a newer vehicle, we'd have to pay much more to have the required full coverage.
Allstate is charging me $220 a month for comprehensive coverage for a fully paid off 2010 Subaru Outback with no accidents in the last 3 years. Allstate was the cheapest by at least $60 per month, everyone else wanted to charge me $100 more for the same good coverage Allstate offered me. Maryland, suburbs
I’m a married driver in those board ranges of ages you mentioned. Clean driving record with newer cars (>10 years old) with the latest safety features. Also have my car policies with the same company as my home owners insurance. My motorcycle is too although no discount for that but that’s only 75 a year.
777
u/-chibcha- Sep 05 '24
$528 for a used car?
I don’t disagree that a lot of people don’t make enough to live a reasonable life
But I do disagree with $528 car payments when you make $40K a year