Crazy Insurance Quote for M4?

[David70]

Originally Posted by champagnepak1

Thank you for your advice everyone - I appreciate it. It appears that these quotes, given my background, are par for the course.

I am grateful to say that I can afford it, but can't stomach the cost. I also understand that wanting to purchase an M4 at 26 probably reads as naive to a lot of you.... been around cars all my life. I love them. Self-taught myself how to drive manual at 13 years old in my uncle's Nissan Silvia in a private lot and spent a LOT of time working in indy sports car shops to save for stuff. First car was a jank civic. Second car used E90 with an exhaust leak and 120k miles. Third car was an enthusiast owned 6mt e90, m-sport w/ 50k miles. Been wanting to get back since then.

I suppose I will wait until I'm back in a Virginia suburb @ 27 yrs old (in Brooklyn right now) and give it another shot. Don't think there is anything I can do in the meantime to make my profile more attractive, right?

And for those who asked - I just used one of those online portals that redirects you to multiple offers. Ended up with just one offer and I don't even remember where it was from, lol.

2025 G8x brand new, not F8x

From what I understand about insurance if you had any car insurance history your rate would be better. Might make sense to get a sensible car (if you actually want/need a car).

Going from zero history to the M4 is a red flag.

[Kaizer84]

Agree with those saying you have to get some insurance history of your own. Buy a beater or have the car you are currently driving taken out of your fathers name and insure it yourself for the next 6 months or so. And then try again then. Maybe consider getting an older F82 also and get the G82 later on. Gotta pay to play sometimes. If you are able to comfortably afford the $1k a month then screw it- go for it. Premium will come down eventually with you getting older and not filing any claims.

[mjj]

I am not an underwriter for auto insurance company….I would suspect the liability is driving a significant portion of the premium. Not sure how much vehicle choice amplify’s that or not. I am sure there is a correlation between a high performance car and a civic but would be interested to learn by how much.

[Kaizer84]

Originally Posted by mjj

I am not an underwriter for auto insurance company….I would suspect the liability is driving a significant portion of the premium. Not sure how much vehicle choice amplify’s that or not. I am sure there is a correlation between a high performance car and a civic but would be interested to learn by how much.

NYC is a hot fucking mess to put it lightly. That’s the real issue here. A lot of crashed/ totalled M cars plus uninsured motorists are definitely driving the rates on M cars.

[NickyC]

Saw he updated this thread and it’s for a G82. They should be paying HIM $1k a month to drive that thing.

Get an F82 CS. If you have to light money on fire and it just has to be new, a black G87.

[DrVenture]

Originally Posted by mjj

I am not an underwriter for auto insurance company….I would suspect the liability is driving a significant portion of the premium. Not sure how much vehicle choice amplify’s that or not. I am sure there is a correlation between a high performance car and a civic but would be interested to learn by how much.

Yeah, the high performance thing has never been the issue for me. I bought high HP performance models expecting crazy numbers on insurance and it never really happened. I was generally older though.

[DrVenture]

Originally Posted by Kaizer84

NYC is a hot fucking mess to put it lightly. That’s the real issue here. A lot of crashed/ totalled M cars plus uninsured motorists are definitely driving the rates on M cars.

My son was hellbent on moving to NYC when he was about 25. After I explained all the hidden and not-so-hidden costs, he adjusted his thinking. There is a reason so many choose public transportation in that environment. And that wages are higher.

[eugenebmw]

Originally Posted by David70

From what I understand about insurance if you had any car insurance history your rate would be better. Might make sense to get a sensible car (if you actually want/need a car).

Going from zero history to the M4 is a red flag.

It is not much better in Vancouver. The cost of insurance for a M4 G82 with zero history is over $12K a year. With years of driving history like me I only pay for $2500 a year to insurance my 2023 G82.

[UPSROD]

Originally Posted by eugenebmw

It is not much better in Vancouver. The cost of insurance for a M4 G82 with zero history is over $12K a year. With years of driving history like me I only pay for $2500 a year to insurance my 2023 G82.

I just got an increase on my 2013 E92 M3 from $489.00 a year to $1042.00 a year! I should not bitch!

[David70]

Originally Posted by eugenebmw

It is not much better in Vancouver. The cost of insurance for a M4 G82 with zero history is over $12K a year. With years of driving history like me I only pay for $2500 a year to insurance my 2023 G82.

Too many variables to compare but my three cars, including the 2020 Vantage are $2800 per year (Liability at $250k/$500k, uninsured at $250k person/$500k each accident) -

I can only imagine what repairing the Vantage would cost as it has an aluminum frame/body and everything is jacked up.

Six month rates

[sarafil]

To the OP - someone in your situation is not going to get the best solution on one of those online portals. Plus NYC rates are really high. Honestly I would just disregard this quote completely. (That being said you are higher risk)

My advice - get to VA first and then call an independent agent who can get you quotes from multiple carriers.

[KevinC]

Originally Posted by NickyC

Saw he updated this thread and it’s for a G82. They should be paying HIM $1k a month to drive that thing.

[BlkGS]

Lots of stuff said.here in already, so I'll be brief.

You are the risky driver. You can fix this. Get a little older,buy a house, and have credit history from car loans and credit cards. Get married. Live outside of the high cost of living metro areas (NYC, LA SF Bay, DC Metro, Austin, etc) All these things will tell insurance companies you're less risky.

M4s are high insurance rate cars in general, so you're still gonna be looking at hundreds a month to insure it, but that's better than 1k per month.

[Westside Guy]

Originally Posted by champagnepak1

Thank you for your advice everyone - I appreciate it. It appears that these quotes, given my background, are par for the course.

I am grateful to say that I can afford it, but can't stomach the cost. I also understand that wanting to purchase an M4 at 26 probably reads as naive to a lot of you.... been around cars all my life. I love them. Self-taught myself how to drive manual at 13 years old in my uncle's Nissan Silvia in a private lot and spent a LOT of time working in indy sports car shops to save for stuff. First car was a jank civic. Second car used E90 with an exhaust leak and 120k miles. Third car was an enthusiast owned 6mt e90, m-sport w/ 50k miles. Been wanting to get back since then.

I suppose I will wait until I'm back in a Virginia suburb @ 27 yrs old (in Brooklyn right now) and give it another shot. Don't think there is anything I can do in the meantime to make my profile more attractive, right?

And for those who asked - I just used one of those online portals that redirects you to multiple offers. Ended up with just one offer and I don't even remember where it was from, lol.

2025 G8x brand new, not F8x

Have you considered having your father buy and insure the car and list you as a second driver?

[Xtremsiege2]

I would recommend getting a CT address and coming here, or register in NY state and keep the insurance location in CT. I'm in Stamford, 37 and annually pay one month of yours also perfect record no tickets for 18 years $650 2 cars.

CT pays property tax each year, you'll probably pay $600-1000 annually depending on which town mill rate you land in(if you register).

[R1250GS]

26 I had a used GTI with liability coverage.

You got some whipper snappers who will spend $90,000 on a car instead of buying a house or paying a college loan.

Then post on tic tac and MySpace

Op

Get your BMW just don’t park anywhere the repo man can snag it

[champagnepak1]

Originally Posted by R1250GS

26 I had a used GTI with liability coverage.

You got some whipper snappers who will spend $90,000 on a car instead of buying a house or paying a college loan.

Then post on tic tac and MySpace

Op

Get your BMW just don’t park anywhere the repo man can snag it

Worked my way through community college, graduated early with my bachelors from university at 21, lived in a shoebox to pay off my college loans by 23, and will buy a home when I figure out where I actually want to settle down.

Thank you for the sage advice though, Unc!

[R1250GS]

Originally Posted by champagnepak1

Worked my way through community college, graduated early with my bachelors from university at 21, lived in a shoebox to pay off my college loans by 23, and will buy a home when I figure out where I actually want to settle down.

Thank you for the sage advice though, Unc!

Outstanding young man.

Took me many years to pay off my college loan.

On a serious note.

The universe makes it difficult for a young person to buy a $90,000 car.

Many Other things in life to enjoy at 26.

I admire you young man very goal oriented and ambitious.

All the best!

[Westside Guy]

Originally Posted by champagnepak1

Worked my way through community college, graduated early with my bachelors from university at 21, lived in a shoebox to pay off my college loans by 23, and will buy a home when I figure out where I actually want to settle down.

Thank you for the sage advice though, Unc!

Out of curiosity have you considered an M2 or a Supra? They are both fun to drive and the insurance might not be as high.

[tekphobius]

Originally Posted by TheMidnightNarwhal

If you can try to not divulge your record for infractions. I did so and did not give them permission to check my record so they can't confirm nor deny my tickets. Only way I had insurance that made sense, I have nno moral regrets whatsoever. Insurance can suck it.

That's not how that works at all. My wife is a licensed P&C agent for all 50 states and has been selling policies for years.

They use a combination of CLUE, LexisNexis, and MVR reports. They don't need your permission lmao. They won't issue a policy without running the reports either.

[TheMidnightNarwhal]

Originally Posted by tekphobius

That's not how that works at all. My wife is a licensed P&C agent for all 50 states and has been selling policies for years.

They use a combination of CLUE, LexisNexis, and MVR reports. They don't need your permission lmao. They won't issue a policy without running the reports either.

Ah ok yeah, I don't live in US. Wasn't sure if it was possible with my "If you can". Good to know!