My FIRST car has been decided! :)
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From: Goergia
My FIRST car has been decided! :)
Ok so i was sure i made a fail-proof plan of getting a 09 Lancer Evo MR BUT didnt put ALOT of things into consideration i guess ( Thanks "DeeezNuuuts83" and "Dube" 
) im getting a 2008 Mitsubishi Lancer Evolution X MR its half the price and practically the same performance! i have called a insurance agency (Progressive) and they said as an 18 year old with my information would be $250 a month for standard insurance. Im still KINDA debating it to the 06 Evo IX.... but its only $6000 more fro the 08.... Smart or not? let me know... i could always use some advise from the more wise 
) im getting a 2008 Mitsubishi Lancer Evolution X MR its half the price and practically the same performance! i have called a insurance agency (Progressive) and they said as an 18 year old with my information would be $250 a month for standard insurance. Im still KINDA debating it to the 06 Evo IX.... but its only $6000 more fro the 08.... Smart or not? let me know... i could always use some advise from the more wise
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From: Goergia
haha idk... but im like putting every penny into it! saving for 2 years and going to try and put a $19'000 down payment! so im like DEAD SERIOUS about this... im honestly in love with Evos! Hey do u have a youtube channel? id love to check out ur beast! lol ur Evo haha
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From: Goergia
Yeh i looked at it... VERY tempting but also the interior is better in the evo X... im going to practically live in this car so i think ima stick with the evo X besides all i need to do is woop my friend's 08 impreza wrx sti... not hard with a few upgrades to the evo X... right?
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I hate to be the voice of responsibility here (since I'm only 29), but if you have $19,000 sitting in the bank, the last thing that I would suggest doing is dropping every penny of it on a down payment for an Evo. Don't get me wrong, I understand you're enthusiasm to own an Evo, especially at 18, but one of the worst investment decisions a person can ever make is to put all of their money into something that is going to lose at least 50% of it's value in the next 5-7 years. I don't know your finances or your job situation but if buying an Evo is going to take every penny you have now, and for the next five years, then don't do it! If you're dead set on owning an Evo my suggestion would be for you to get an Evo 8. You could probably pick up a nice one with decent mileage for less than $15K. You'd be able to pay cash for it so you wouldn't lose any money paying interest, you'd still have about $4K or $5K left in the bank, and if you really wanted to, you could cut the insurance down to liability only and save a boatload on insurance (although I suggest keeping full coverage to protect your investment). Anyway, just my .02. Good luck with whatever you decide to do.
I hate to be the voice of responsibility here (since I'm only 29), but if you have $19,000 sitting in the bank, the last thing that I would suggest doing is dropping every penny of it on a down payment for an Evo. Don't get me wrong, I understand you're enthusiasm to own an Evo, especially at 18, but one of the worst investment decisions a person can ever make is to put all of their money into something that is going to lose at least 50% of it's value in the next 5-7 years. I don't know your finances or your job situation but if buying an Evo is going to take every penny you have now, and for the next five years, then don't do it! If you're dead set on owning an Evo my suggestion would be for you to get an Evo 8. You could probably pick up a nice one with decent mileage for less than $15K. You'd be able to pay cash for it so you wouldn't lose any money paying interest, you'd still have about $4K or $5K left in the bank, and if you really wanted to, you could cut the insurance down to liability only and save a boatload on insurance (although I suggest keeping full coverage to protect your investment). Anyway, just my .02. Good luck with whatever you decide to do.
I am a long time lurker and this is my first post. Picked up a '10 EVO X last month and I love this damn car!
Anyway, I wanted to give you some insurance advice. This is based on three years as an insurance adjuster for Progressive before I moved on to bigger and better things.
IF you finance the vehicle, the bank you fiance the car through is going to require a lot more than just standard insurance. You will need Comprehensive (this covers things such as fire/vandalism) and Colission coverage (Covers you if u hit someone/something) with deductibles not more than $500.
In addition, many finance companies require high limits such as 100k/300k Bodily Injury coverage and at least $50k in property damage coverage.
These coverages generally do not fall under the definition of standard insurance. Standard insurance usually means BASIC insurance which in many cases does not even include Comprehensive/Collision coverage.
Its hard to tell exactly what quote you got as $250 a month is quite high. When it comes to 18 year olds and EVO's, that MAY just be basic coverage.
If you will be financing, call Progressive back and explain that you will be financing the vehicle and need the coverages I explained above. See if the quote changes. If not, you're in good shape.
If you are buying the vehicle cash, it would be a bad idea to not get comprehensive/collision coverage. If you wreck the car and its you're fault, you may be out $30k.
As a reference, I am 29 years old/married with no accidents/tickets. I pay $800 for 6 months. ($133 a month) and thats for very high coverages.
On another note, I bought my first car @ 21. 2003 Volkswagen GTI. Loved it for the first year but after that the novelty wore off and I found myself wishing I had stuck with a cheap paid off car. I had to work 40 hours a week while going to college to afford the car. It sucked.
Sorry if this was long winded but I wanted to give as much knowledge as I could.
P.S. My initial thoughts on an 18 year old and an EVO is that it is a horrible idea, but perhaps you have more maturity than 95% of 19 yo's I know.
Anyway, I wanted to give you some insurance advice. This is based on three years as an insurance adjuster for Progressive before I moved on to bigger and better things.
IF you finance the vehicle, the bank you fiance the car through is going to require a lot more than just standard insurance. You will need Comprehensive (this covers things such as fire/vandalism) and Colission coverage (Covers you if u hit someone/something) with deductibles not more than $500.
In addition, many finance companies require high limits such as 100k/300k Bodily Injury coverage and at least $50k in property damage coverage.
These coverages generally do not fall under the definition of standard insurance. Standard insurance usually means BASIC insurance which in many cases does not even include Comprehensive/Collision coverage.
Its hard to tell exactly what quote you got as $250 a month is quite high. When it comes to 18 year olds and EVO's, that MAY just be basic coverage.
If you will be financing, call Progressive back and explain that you will be financing the vehicle and need the coverages I explained above. See if the quote changes. If not, you're in good shape.
If you are buying the vehicle cash, it would be a bad idea to not get comprehensive/collision coverage. If you wreck the car and its you're fault, you may be out $30k.
As a reference, I am 29 years old/married with no accidents/tickets. I pay $800 for 6 months. ($133 a month) and thats for very high coverages.
On another note, I bought my first car @ 21. 2003 Volkswagen GTI. Loved it for the first year but after that the novelty wore off and I found myself wishing I had stuck with a cheap paid off car. I had to work 40 hours a week while going to college to afford the car. It sucked.
Sorry if this was long winded but I wanted to give as much knowledge as I could.
P.S. My initial thoughts on an 18 year old and an EVO is that it is a horrible idea, but perhaps you have more maturity than 95% of 19 yo's I know.
This is the dumbest thing anyone has ever said. You can say the same about the AMS Evo X, Ryan Gates X, ETS' Evo X, Gump's Evo X. Just plain stupid comment. I think the 4B11 has more than proved itself. So yea, do a little research before you post ignorant comments like this...
Last edited by Bighec; Sep 6, 2010 at 11:23 PM.
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From: Hawaii
i understand you wanting to get an x cuz i'm in the same boat myself. and i have to agree that it sounds like a pretty bad investment if it'll cost you all your savings. i'm not sure about your plans for post grad, but if you plan on going to college, you might want to consider saving your money. you'll most likely have to work quite a bit just to afford gas, insurance, maintenance, on top of the payments for the x. like one of the guys mentioned above, a car will always depreciate so you want to make sure you invest your money wisely. just my .02
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From: trenton
This is the dumbest thing anyone has ever said. You can say the same about the AMS Evo X, Ryan Gates X, ETS' Evo X, Gump's Evo X. Just plain stupid comment. I think the 4B11 has more than proved itself. So yea, do a little research before you post ignorant comments like this...
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From: Panama City, Florida
I was trying to decide between the IX and a X and eventually went with the IX, probably because I found exactly what I was looking for with low miles. But wow, that's crazy for insurance. When I bought my IX I was 20, am now 21, and I am paying around $375 a month for your normal insurance, looks like I have to check out Progressive.