While my parent’s 2021 tesla Y has been troublefree so far, they definitely pissed with the insurance fee they’re paying right now. They’re paying $2k for 2021 tesla Y, while my brother (same zip) pays 1/3 for 2021 Lexus RX and I’m paying $1800 for new EQB (with 1 teen on my policy).
?? The car has a lien
Exactly!! How does one get older and not see a decrease in insurance? I could see if they were driving a GT or corvette. Smh
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I thought you are going to pay it down?
If you have a lien on it you can’t just park it and not pay for insurance either.
That doesn’t really make sense since the value will keep dropping.
Take the highest offer from the Wiki thread on where to sell your car ASAP and dump it.
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I never said I wasn’t going to pay insurance. I said I was going to suspend it.
This is true because it has been sitting since last year. The value is tanking so fast I am no closer today than I was last year to the market value. Are you suggesting I should post it for sale in the wiki category? Or post a question on how to sale it for the most?
Suggestion is to look at the list of business purchasing used vehicles that is outlined in the Wiki thread. Reach out to all of them. Sell to the highest offer. Basically, get rid of the car as quickly as possible.
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If you think your insurance is expensive now, wait until you suspend it and the lienholder takes out their own policy on it to cover your contractual obligation and then bills you for it.
They will not shop for the best deal.
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I’ve actually tried that and the numbers were astronomical and the lease was complicated.
I’m suspending it not terminating it. I’ve spoken to my insurance broker. The car is fully covered if anything happens to it while it is PARKED.
Oh ok thank you
Which is useless.
Your contractual obligations are with the bank your loan is through and it stipulates minimum insurance requirements. Until you have from the bank, in writing, that what youre talking about is ok, you should expect a giant bill to arrive.
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Ok Will do
sell it asap.
CarMax, etc…
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And this is why insurance on these cars are through the roof.
!!! Smh
You should find a good local mechanic who is familiar with EVs. Almost all common service and most repairs can be done for no more, or less than any other vehicle. There are also good aftermarket warranty options for Tesla, like XCare, which is accepted by most Tesla service centers, if you want to keep going that route. However, no warranty will cover brakes.
I’m struggling with a $1000 payment on a 2% loan (on a 2016 model) but refinancing at current rates seems like a terrible idea. Any funds you may have to pay down, into a refinance, are better used to pay off the negative equity and sell the car (try Carvana).
If you just got a new HV battery, your most significant concern is addressed. Try to find new insurance, sometimes another carrier may offer a better rate. Sometimes you may need to switch carriers every year. Hopefully, with a 2016, you have free supercharging.