Come to Florida, auto insurance here is outrageous. I’ve been told something like 25 or 30% of the cars on the road here do not have insurance so those who do end up picking up the tab. This is pretty pathetic as the state minimum coverage is unreasonably low at like 10/20. That will barely cover a minor fender bender. Sadly, this means significant uninsured/underinsured motorist coverage is an absolute necessity.
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Same in California, minimum coverage is nothing and I wouldn’t dream of leaving my house without uninsured/underinsured motorist coverage.
I pay about $3k/yr for 2 Audi leases.
These seem like the perfect cars to rent, because how often are you going to drive them? The insurance alone could probably pay for a couple weeks rental a year. Plus you could try out a bunch of different cars.
Crap, they ain’t cheap, anyway you slice it
5 hours once a quarter might be enough to satisfy the need
When looking at Bentley and Maserati GranTurismo deals I checked here and even posted the deal I got as part of another forum. You never know who’s looking.
Antonio at Woodside credit has been good if anyone wants to get into a car and doesn’t mind the interest. I agree some cars are better to buy and just sell / trade in depending on the way your taxes work in your area.
In my experience Miller Motorcars has been the most difficult to negotiate with for Bentley, Maserati and Aston Martin they hold out generally for someone to pay what they want even when some cars according to Cargurus were unsold for over 400 days and marked high compared to market. They tried pushing a 2K demo 18 GTS C for a few thousand less than a local dealer wanted for a new 18 with similar (less than 500 difference) MSRP last year in December.
Just checked and that car is still for sale now.
https://www.millermotorcars.com/2018-maserati-granturismo-sport-convertible-c-1802.htm
I can attest to this as well. I remember an episode clearly, a few years back, whereby one of their salesman gave me until 5pm that day to take him up on his offer. Shortly after 5pm he actually sent me an email telling me “good luck but due to the fact that you haven’t gotten back to me in due course I don’t want your business” Seriously!
That sounds about right. For service Bentley was fine overall I wouldn’t recommend the Maserati or Ferrari service they are slow and not careful including damaging one car. They did replace the part when sent a email with the damage right after the car was returned. The part they broke was replaced but then they messed up the leather when replacing it.
I understand that a typical auto insurance works that way. However, what I’m looking for is a different type of insurance that would still cover you yet is cheaper … or possibly having it fall under another policy the way @Quinn has it
Here is one way I know of that some collectors do in California:
You setup an auto wholesaler with the DMV, never pay sales tax or registration on any of the cars (which can be a lot with these pricey cars) and just have to pay dealer fees and a registration to get dealer plates that you can put on any car. I also know from experience that their insurance is much much cheaper specially on 10+ cars
That’s just impersonating a dealer, isn’t that considered fraud in CA? Pretty sure it would be in NY.
People willing to flout the law can just set up a shell LLC in Montana
I do that too for some of my cars since i have a dealership. Just so you know the dealer insurance is just liability, so i dont run it on cars i keep over a few months.
Why would it be impersonating a dealer? You’d legally be an actual dealer it’s not that difficult to setup a wholesaler license here in California
If you’re not actually operating as a dealer, that license is just a front for tax evasion purposes
One could argue that paying 200k for any car is overpaying…
Pretty sure you can get more than liability. At least that’s what we had back in the day when I was involved in a car dealership
Why not? A wholesaler’s operation is to buy and sell cars to and from other dealers and I’m sure anyone would buy and sell cars … even if you lose money.
One added perk is that you can also buy used cars from the auction as well
You only need to sell 1 car a year to be considered a dealer. And they pull your license if you dont
the car is covered while on a test drive, and the master plates are covered for personal use to an extent. Im sure it varies by state
Agreed - auto insurance on luxury cars in Florida is much higher than the numbers quoted on this thread. 