One of D favourite sites is "leasebusters" where you get to read the sometimes pathetic stories of people who are looking for others to take over their leases of mostly high end luxury sports cars just months after they committed.
I just don't see how someone could be talked into signing on the dotted line for a 6 figure automobile. You'd literally have to drug me out for that to remotely have a chance of happening.
I continuing my due diligence yesterday by giving my car insurance people a call to get quotes on potential next vehicles. Man, did I learn a lot.
My assumption was that I would run away screaming by the time I got to the higher priced vehicles as I thought the pricier the car, the higher my insurance would be. Turns out that is only partly the truth.
Vehicles are rated on bodily injury (1 - 10) and comprehensive (1 - 99). If I understood properly, you want the lowest number for bodily injury and the highest number? for comprehensive. The safer the car, the lower the rate for most vehicles. Some really high end vehicles are the exception.
Here's how my insurance quotes played out: (based on $1000** deductible), total purchase price at the end in brackets.
- 1997 Honda CRV : $581.00/yr or $48.42/mnth with no collision insurance anymore (current vehicle, my first car)
- 2011 Subaru Forester 2.5XT Limited : $760.00/yr or $63.33/mnth ($41945.60)
- 2011 Audi Q5 2.0T Prem Plus Tip qtro : $700.66/yr or $58.39/mnth ($57931.37)
- 2011 BMW X3 xdrive 35i : $749.00/yr or $62.42/mnth ($62022.00)
- 2009 Porsche Cayenne GTS : $912/yr or $76.00/mnth ($88671.10) **The deductible on this vehicle is a mandatory $5000 for comprehensive whereas the collision is $1000. And finally, a neat fact -- Porsche has never had a recall.