Topic: First time buying budget $11,000

[ArticSteve]

Unfortunately the cost will be the same.  Yes, make your own account but do discuss with your insurance company.  Try an Independent Insurance Broker and make a connection before you buy.  They can advise.  Insurance Carriers do differ greatly for new owners/drivers.

[johngenx]

It depends on how your Dad feels about exposing himself to the liability of a young driver.  If you do something and you're sued, your father could end up on the hook.  My wife and I have a LOT to lose- house, investments, etc.  No way did we want that exposure.  So, my daughter's car is registered and insured in HER NAME alone.  But, many (most?) insurance companies will extended any household discounts to you, even though it's an independent policy.  (Things like multi-car, etc)

We saved quite a bit by doing that - we pay the same for a much more robust policy as she could have bought a bare-bones one on her own for.  With lawsuits getting larger judgements all the time, don't skip on liability coverage.  Some friends of ours

[Lkaminski1995]

all the quotes I'm seeing are around 400-500 a month

[ArticSteve]

all the quotes I'm seeing are around 400-500 a month

Preposterous but accurate.  Just terrible.

[Lkaminski1995]

so far it looks like the honda fit is the cheapest with belair direct

[Lkaminski1995]

leaving only the liability 1m insurance and no theft or at fault i got a quote of 3200 a year with a 2014 honda fit

[johngenx]

Liability only is risky in terms of that value of car.  Without collision insurance, you are open to a total loss.  Since you're only 22, that might be acceptable risk to you.

[Lkaminski1995]

Collision insurance only allows up to $1000 does it make sense to pay a Years insurance at one shot since you save money or am I risking saving on insurance because I will be a full G driver in may

[johngenx]

You might be confusing deductible and amount of coverage.  Collision insurance covers you up to the current value of the car.  A $1000 deductible means you pay the first $1000, and insurance pays after that.

[Lkaminski1995]

Ok is that the only one you recommend

[BWII]

Yeesh...my kids 5.0 costs him under $2000 to insure.  Fack me glad I/we don't live in ON...I think.  I'm old (so they keep telling me) so maybe it would be better for me there...but to be young, scheisse that's just robbery.  It's like bike insurance here though I suppose.  Buy a cheap car/bike, pay for it 3X over or more in the first 3 yrs just on insurance alone. 

[Lkaminski1995]

Any other car suggestions ?

[dirtyjeffer]

Yeesh...my kids 5.0 costs him under $2000 to insure.  Fack me glad I/we don't live in ON...I think.  I'm old (so they keep telling me) so maybe it would be better for me there...but to be young, scheisse that's just robbery.  It's like bike insurance here though I suppose.  Buy a cheap car/bike, pay for it 3X over or more in the first 3 yrs just on insurance alone.

yup, it's a scam...sadly, nothing we can do about it.

http://business.financialpost.com/personal-finance/ontario-auto-insurance-rates-rise-for-the-second-quarter-in-a-row

[dash]

My son is hot to get his own car (teenager G2), offered my 07 Altima SE v6 to him, based on quotes he is getting, insurance is $100 monthly higher on my car than say a much older car in the low year 2000s  for a  Matrix, sunfire. Cheapest quote he's got so far was for 05' Mazda 3, about $140 monthly basic minimum insurance requirements.

Below you can download a Excel file that has rates loss claims by model,  you then can get the gist of which year and model is cheaper to insure. The obvious trend I see is the newer the car the higher the ratings (meaning higher cost). 

http://www.ibc.ca/nt/auto/buying-auto-insurance/how-auto-insurance-premiums/how-cars-measure-up

[Noto]

Don't go for the bare minimum for insurance.  You will want some of the optionals:

Increasing Your Liability and Accident Benefits Coverage

In addition to the mandatory minimum coverages that are required by law, you may purchase higher liability limits under your Third-Party Liability Coverage, as well as increased Accident Benefits Coverages. You have choices and flexibility over optional or increased coverages and the price you pay for auto insurance. These options allow you to customize your policy to better suit your needs.

Your insurance representative will be able to help you decide what level of coverage is best for you.
Increased Third Party Liability Coverage:
While you are legally required to carry a minimum of $200,000, you may want to increase this coverage. The cost to increase your Third-Party Liability coverage to $500,000, $1 million or $2 million is small in most cases.
Optional Accident Benefits Coverages:
You may also want to consider increasing your Statutory Accident Benefits coverage by buying any or all of the optional benefits listed below.

Income Replacement Benefits: If you cannot work as the result of an automobile accident, you may be eligible for basic weekly income replacement benefits of 70 per cent of your gross income up to $400. If this is not enough to cover your current after tax income level, you may want to consider buying optional income replacement benefits to increase your maximum weekly benefit to $600, $800 or $1,000. When considering the amount of coverage you will need, keep in mind you are required to first claim wage loss benefits from a disability plan you have purchased or workplace benefits that you have access to.
Medical, Rehabilitation and Attendant Care Benefits:
For policies issued or renewed on or after June 1, 2016, the standard maximum amount for medical, rehabilitation and attendant care expenses, such as physiotherapy, chiropractic treatment or an aide to assist you if you have been seriously injured is $65,000. If you are catastrophically injured, the standard maximum is $1,000,000. You can buy optional benefits which will cover up to $130,000 in medical, rehabilitation and attendant care expenses for non-catastrophic injuries, or an additional $1,000,000 for catastrophic injuries, bringing the total for catastrophic injuries to $2,000,000. There is also an optional benefit for medical, rehabilitation and attendant care expenses for all injuries that will increase the combined non-catastrophic benefit to $1,000,000 and the combined catastrophic benefit total to $2,000,000. If you purchase both the optional medical, rehabilitation and attendant care benefit for catastrophic injuries and the optional benefit for all injuries, the total benefit amount for a catastrophic injury will be $3,000,000.

Keep in mind that many health care expenses are not covered by OHIP, or only partially covered, including physiotherapy and chiropractic treatment, mobility devices (crutches, wheelchairs), modifications to your home and car that you may require, and other specialized goods and services. Minor injuries may only require a few thousand dollars in treatment. The most serious injuries (brain injuries, amputations) are permanent and may require hundreds of thousands of dollars in specialized goods and services on an ongoing basis. You may need the services of an attendant 24 hours a day. Review any extended health care plan you have access to, such as through work, to help you decide how much coverage you require.
Caregiver Benefits: If you are not employed, are providing care full-time to dependants like children or aging parents, and can no longer provide that care as the result of an automobile accident, you may be eligible for caregiver benefits if you need to hire someone to care for your dependants. The maximum amount for caregiver benefits is $250 per week for the first dependant, plus $50 per week for each additional dependant. The standard coverage can only be claimed by those who are catastrophically injured in an auto accident. You can extend coverage so that it can be claimed for all injuries by purchasing an optional benefit. If you have children you need to consider who will look after them if you are injured in an auto accident.
Housekeeping and Home Maintenance Expenses: If you are unable to perform your usual housekeeping or home maintenance duties, you may be eligible for these benefits if you need to hire someone to perform the duties. The maximum benefit payment is $100 per week. The standard coverage can only be claimed by those who are catastrophically injured in an auto accident. You can extend coverage so that it can be claimed for all injuries by purchasing the optional benefit. If you normally do the cleaning and maintenance of your home, you need to consider who will look after these things if you are injured in an auto accident.
Death and Funeral Benefits: In the event that you die as a result of an auto accident, the standard amount which will be paid is $25,000 to your eligible spouse, $10,000 to each dependant, and a maximum of $6,000 for funeral expenses. If you buy optional benefits, you can increase these amounts to $50,000 to your eligible spouse, $20,000 to each dependant, and $8,000 for funeral expenses.
Other Optional Coverages

Options exist to purchase any of the other additional coverages and benefits listed below.
 
Dependant Care Benefits: This optional benefit is not provided in a standard auto insurance policy. Optional dependant care benefits cover up to $75 per week for the first dependant and $25 for each additional dependant but can only be claimed if you were employed at the time of the accident, are not receiving a caregiver benefit, and have to pay for additional childcare expenses as a result of the accident.
Indexation: This optional benefit is not provided in a standard auto insurance policy. If purchased it provides for an annual adjustment for inflation for Income Replacement, Medical, Rehabilitation and Attendant Care and other benefits, determined according to the Consumer Price Index of Canada.
 
If you have benefits from your employer or another policy, you may already have some level of coverage for some or all of the optional benefits listed above. You should consider these benefits as you review your coverage options.

https://www.fsco.gov.on.ca/en/auto/brochures/Pages/brochure_autoins.aspx

[dkaz]

Any other car suggestions ?

I vote Mazda 3. The engines are just as reliable as Toyota's in my opinion which played a huge factor in Toyota choosing Mazda to make their Yaris sedan, and they're fun to drive even with the 6 speed automatic which I won't quite call Toyota reliable but better than Honda. Lots of 2014+ in your price range and with an automatic transmission, air conditioning, and Bluetooth. Don't discount the 2012-13 GS with the Skyactiv engine though which I personally own and love.

[Lkaminski1995]

Leaning towards a 2011 Nissan Sentra . That year is a bit cheaper for insurance. Still in consideration
Toyota Corolla
Honda Fit
Toyota Camry

[tooscoops]

How far from Etobicoke to tooscoops? (Grimsby) Maybe he's got some good product in his used inventory that would match your needs. 

might be worth a look...from what i've seen, his dealership actually has pretty decent prices on used cars...no BS too, which is an added bonus.

heck, he's got a 2015 200 LX for $11,950.

http://www.grimsbychrysler.ca/used/Chrysler/2015-Chrysler-200-9b4afa810a0e0a6b13730521911605d0.htm

there's also a 2014 VW Jetta Comfortline, if you want the true FGC experience - $9950

http://www.grimsbychrysler.ca/used/Volkswagen/2012-Volkswagen-Jetta-53302f870a0e0a6b137305213a0ab108.htm

thanks for the thoughts guys. don't have too much that i would throw into the mix right at the moment... usually have a few nice options.

as others have suggested, make sure that insurance is figured out before you fork over all your money on the car.  as much as it sounds like you don't want to, financing some of the car isn't that bad an option. great way to build credit. finance the minimum (7500), get parental co-signer (if needed) to get a decent rate (4.99-5.99) and then you have some cash in your pocket for the insurance and car maintenance. you can always pay some/all of it off a bit early if you want. plus, that way you can look at cars that might cost an extra grand or so, but save you more than that on insurance.

[whaddaiknow]

Leaning towards a 2011 Nissan Sentra . That year is a bit cheaper for insurance. Still in consideration
Toyota Corolla
Honda Fit
Toyota Camry

You've narrowed it down quite well. Corolla, Camry and Fit are the most solid choices for reliability and resale value. Camry adds some comfort and a few $$ to the fuel bill.
Now just find a good used one and never look back.
Just don't forget to come back here and post some pictures of your new ride.

[Lkaminski1995]

Leaning towards a 2011 Nissan Sentra . That year is a bit cheaper for insurance. Still in consideration
Toyota Corolla
Honda Fit
Toyota Camry

You've narrowed it down quite well. Corolla, Camry and Fit are the most solid choices for reliability and resale value. Camry adds some comfort and a few $$ to the fuel bill.
Now just find a good used one and never look back.
Just don't forget to come back here and post some pictures of your new ride.

I'm looking for a 2011-2013 range. What idea price should I be paying and roughly how many km. For those 3 cars