I have read most of this thread, and while agree you are young. I also owned a brand new Camaro Z28 when I was 16, back in 1977. If you are actually mature, you might be able to get by without losing your license or life.

Anyhow, one thing that may come into play also is that you probably have no real credit established. I don't know your financial situation, but the insurance companies use credit scores to a bigger degree than a lot of people realize for computing your premiums. I know this seems unfair but it is fact. I don't know how much it actually impacts the premium, but it will.

Good Luck

 

Sorry to hear that man. I remember when I was 17 it was real hard to get affordable insurance. Wasn't until I turned 21 when it started to drop. What if you get insurance under your dad's name and be added as an authorized driver?

 

thats true. my v6 camaro, when i got it new in 1999 on my 16th b day, insurance was 200 a month. not cheap but it could have been much worse.

why doesnt this kid try for a v6 camaro instead of the ss. or maybe find a dealership that still has leasing options and see what leasing would be like. maybe that would put it more in his price range than purchasing.
there are still banks out there that lease american vehicles.

 

i was getting curious and i called my insurance company about insuring my new ss. they told me for a 1,000 deductable - 454 a half, and for a 500 deductable - 525 a half. i was shocked! i thought it would be at least 200 a month. but less that 100 a month is AMAZING! ive also been clean of any tickets for over 3 years and i turned 26 this year so age helps alot. WOW! im still shocked its so cheap.

 

Actually, the original poster never said if the camaro he wanted to buy was a V6 or V8. With the V6 having over 300 HP, I don't think that has much impact though. this isn't like a 1988 V6 Camaro.

 

Sometimes V6 or V8 doesn't make a difference, its the stigma the insurance companies put on all 16 year-old male drivers when it comes to insurance. When I went pricing insurance for my 16 year-old stepson the cost to insure him on a V6 95-96 Mustang was $1000 a year higher than the insurance on a comparably priced V8. So I bought him a 96 Mustang GT with a vortec supercharger.

I remember back in the day (1983) my folks wouldn't let me buy a car until I could afford my own insurance. I bought a 67 Chevelle Malibu for $600 and my insurance was $2200 a year... and that was just for liability.

 

I'm sorry, I must have missed the part where you stated that you are the kid's father. The lessons you have learned from your mistakes in no way apply to everybody.

 

sure it does. it impacts the price of the car and the insurance cost.

 

somehow you got lucky with that one. most people thats not the case though. 9 out of 10 times when there are a v6 and v8 model of a car and they are the exact same type of car, the v8 will be more expensive.

 

Luck had nothing to do with it. It was in fact AAA's actual rates (at least 7 years ago it was). I even questioned it with the agent who agreed and raised the issue with her supervisor who said that's what the data says it is.

The logical suggestion is that AAA must have far more claims by teenage males in V6 Mustangs than V8 Mustangs, and so the rates are applied accordingly. I guess what I'm saying is, one shouldn't assume that a V6 will always be more than a V8.

I will say this though when there isn't enough data on a vehicle (either too old, or too new) at least with AAA they look strictly at the purchase price of the vehicle. That could be the case with the 2010 Camaro (too new) and as the V6 is priced less than the V8, the rates would more than likely be priced accordingly.

 

I smell a troll.

 

I meant that all statements pertaining to a 16 year old owning a brand new high-powered car still apply. The insurance quote he originally posted with was for whichever trim level he was planning to have bought for him... so the price is the price. I have no idea if it was a V6 or V8 price, and how much it would change if the engine were different. At this point, I suggest that we all stop arguing or even discussing the hypotheticals with eachother since even the original poster lost interest in the topic. He probably already moved on to trying to figure out how to get that hot girl in biology to text him a naughty picture of herself...

 

when i got my ins. quote, thats what they did was took the purchase price of the car and then gave me my quote. assuming i am not paying more than MSRP(which im not) when i take delivery.

 

Even better. As a father, I can give absolute directives. As just an old guy on a message board, I can give advice. The young man is still free to make a decision of his own volition.

It appears to me that you are undervaluing the young man's ability to listen to other people and make a rational decision based on his own life knowledge and his current situation. My assumption is that he has that capability.

 

i say let him get what he wants n if hes willing to pay that much more power to him just dont get stupid on the throttle one little ticket n u wont have the car anymore