So I decided to take the Loaner CTS in one payment (~18,500), but then when the dealership asked me for the insurance card, I called Geico / Progressive / etc. and I was shocked by the monthly price - ~$700-800! It’s double the price than the car / month!
The thing is that in the US I’m consider a new driver, since only in a few month I’ll have 3 years with my US license … (I have a driving license for 20 yrs … , had more than one car, usually I try do drive safetly, most of the tickets I got in the past - not in the US - were on Parking … )
Should I still consider this car???
Will the price drop after I have the US license for 3 yrs?
Will I be able after few months if I switch to a different insurance to get a better price?
I saw on google that the average insurance per month for Cadillac CTS is around ~$180 - much cheaper than $800 …
So disappointing …
Maybe I should just give up and keep using Uber / lyft / rent a car… ?
I am in NY definitely not Progressive or Geico lol,Try shopping around…Travelers is good and they offer 12 mos policies, Allstate, State Farm just have to see which can give the best rates for that car.
Dude between this and the cost for your CTS you need to just go get a really cheap car. Maybe a used Camry? I’m sorry for your situation but you should just save your money.
I had enough “cheap” cars in my life … , I could get a boring honda / toyota / focus / hyundai. I’m tired of this cars … , I used to get them for free from work as a benefit …
I wanted the dodge charger - didn’t got approved… , now I finally got approved for the CTS, the insurance issue … , annoying …
Find a $500 car, insure for a year or 2 and never use the car. Then use the money for Uber and you’re insurance will be cheaper by that time. BTW, my nephew has 2 accidents (his fault), 16 years and still drives a c class coupe and they only pay $4k a year. That insurance is horrendous. That’s like $9k a year. Never look at the monthly.
But if you’re a baller, just pay that insurance and enjoy your ride.
$27k for the insurance and $18.5k for the car. First time I’ve seen something like this
Shop around for insurance: if you have a degree from a US institution, they may have an affiliate discount with a particular carrier. If you haven’t taken defensive driving, it can be done online for a modest discount. Something like this might help you https://www.nerdwallet.com/insurance/compare-car-insurance-rates
You should really consider insurance cost into your budget before you choose a car.
When I lived in NY I did well with Progressive. When I moved DC, I did much better with GEICO (commercials lived up to their word), but no so well when I moved to Ohio. When I started banking with Bank of America, their discount with Travelers made their rates cheapest. Sometimes bundling your renters/homeowners and car insurance is cheaper, but not always. At times I bundled and saved, and others found car insurance cheaper and split my carriers/gave up bundling discount and still paid less.
Like leasing, make sure you compare apples to apples: same VIN, same insurance limits, or you’ll get wildly different quotes. As @Ursus suggested maybe look at Volvo program that includes insurance it if it ends up cost prohibitive.
This is the solution, if you ask me. Remember this for the future purchases/leases. Get quotes for all cars you’re interested in getting, as it may change your ranking of them in terms of cost to drive.
This. When I am car shopping, I always email my insurance agent to get a quote on each model I am considering. It should be a factor in the decision.
Also, it isn’t always as you expect; more expensive cars are not always more expensive to insure. My insurance actually went down when I moved from a 2007 Mazda 6s into a 2014 BMW 335i - I believe at least partially due to improved safety features.
And as has been said, insurance rates will also vary WIDELY for the same car between different insurance companies.
When I got my first car in 2016 (Lexus), I got progressive and paid $988 for 6 months of coverage. After a year, they jacked the price up to $1400 for the same exact coverage meanwhile I had no accidents or tickets. I switched to Geico and got the lowest insurance possible for $800/6 months. I’ve had that ever since.
