My parents made me fork over the car insurance money every month when I turned 16, and the deal was that they would buy a used car of their choice. If I missed a month, I'd lose the keys for a month.

Amazing what not spoiling your kids with new cars can accomplish.

This post was edited on 11/25/20 at 9:43 am

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Posted by bbvdd

Memphis, TN

Member since Jun 2009

25175 posts

Posted on 11/25/20 at 10:00 am to m57

We have state farm. My daughter's isn't that bad but what we learned was that if you have a car that you have paid insurance on for a while it will be cheaper than a new car.
I think her insurance is around $150/month but she has extremely good grades and also she completed the state farm safety thing that was an app on her phone.

My wife had a 2010 MDX that we had never had a claim on that my daughter got.
We bought my wife a new Q7.

My son will be getting my 2012 Sequoia in a little over a year.

This post was edited on 11/25/20 at 11:42 am

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Posted by Count deMonet

Kingdom of France

Member since Aug 2018

577 posts

Posted on 11/25/20 at 10:02 am to m57

I pay just under $700 a month for 4 cars. My boys are now (almost) 19 and 22. We bought a used Corolla for the oldest when he turned 16. After his freshman year of college, we bought him a new Jetta and passed the Corolla down to the young one. The Corolla served us well, but in addition to one at fault and one not at fault accident, there were definitely dings and such from driving and parking in mid city for HS. Just sold the Corolla and bought second son a new Tacoma. By the way, they earned their vehicles by earning National Merit academic scholarships to Alabama.

I have a friend that pays 9k every 6 months for 5 drivers, 4 cars. They’ve had about 5 accidents. Kids are 17, 20 and 22

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