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| How Much Should I Sell My 1991 Metro For? | |
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| Tweet Topic Started: Jan 12 2011, 03:52 PM (4,216 Views) | |
| HavsCritiria | Jan 12 2011, 10:16 PM Post #16 |
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^^ Car nut, you're a riot. Jim bob, Lie Lie Lie, screw those GREEDY insurance companies. Lie, and save yourself the hassle. |
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| yiffzer | Jan 12 2011, 10:21 PM Post #17 |
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Forgot His Manpurse
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| pvt_pwn | Jan 12 2011, 10:53 PM Post #18 |
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Diesel Technician
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IIRC, when I was delivering pizzas, the company had insurance in case one of the drivers were in an accident. This, of course, would only cover the person being hit by the driver. I never told the insurance company that I was delivering pizzas because there really was no need to. |
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| JoeBob | Jan 12 2011, 11:28 PM Post #19 |
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Why you Mutt!
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Actually, Auto Club of Southern California sends me a questionnaire each year which, amongst other things, asks for my odometer readings. Of course, out here, many people have heroic commutes... Edited by JoeBob, Jan 12 2011, 11:29 PM.
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| Jim-Bob | Jan 12 2011, 11:57 PM Post #20 |
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Junkyard Engineer
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For all those who think I shouldn't have the business rider on my policy all I will say is that you've never had an accident on the clock that resulted in a massive lawsuit. I have and was quite happy to have that insurance! Also, I own a house and do not want to lose everything for the sake of saving a few bucks. Even if I am off the clock when I get in an accident, if they find out I deliver they can deny coverage as I failed to disclose it when they asked ( read your paperwork: They ask every time!). Plus, signing a statement that I don't deliver when I do constitutes insurance fraud and I don't want to get involved in that. As a Christian, I couldn't sleep with myself at night knowing I lied like that. I have done it before and won't do it again because of the loss of peace of mind. The truck will save me $150 a month on insurance by being on the policy by itself and yes, that IS for delivery insurance. Florida has some of the most expensive insurance rates in the country and so even without delivery on my policy for the truck it only goes down about $200 a year. With delivery it's $1025. Without is $850. Also I DO NOT have comp or collision on ANY of my vehicles. That is just for 25/50/25 liability with zero deductible PIP and $5k in additional medical payments for me should I become injured. Having had a bad accident in a Sentra a few years ago I can no longer see the point in not carrying the extra coverage. The downsides are huge and lawsuits are a bitch. One last thing: I have had no tickets or accidents in 6 years so this is on a squeaky clean driving record and with good credit and I am 37 and own a home. So yeah, Florida is just that bad for insurance. Right now I am considering other vehicle options to replace the Metro. As I see it, my best options would be a Prius I , Insight I or Civic Hybrid ( preference for the Insight and it's 67 mpg highway). Insurance is lower for those than it is on my Frontier and fuel economy is comparable to the Metro if not better. I also may consider a 95+ 3/5 Metro as they have significantly lower insurance than the 89-94 due to air bags and a 5 star crash test rating instead of the 2 star the earlier cars get. This time, however, I will be talking to my insurance agent FIRST instead of buying a car and then figuring out how much it costs. I NEVER would have imagined that the payment would be $150 higher for a Metro than a 4 cylinder pickup. Edited by Jim-Bob, Jan 13 2011, 12:00 AM.
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| Jittney | Jan 13 2011, 12:09 AM Post #21 |
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Anchorage 92 XFi
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Good Posting, JoeBob. Best of luck finding a vehicle that saves you the most in insurance + fuel. |
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| Bad Bent | Jan 13 2011, 12:24 AM Post #22 |
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Facetious Educated Donkey
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Well, I think you should hold on to the Geo and wait until gas gets up to $4 and then sell it for at least $2,000. As for insurance, I recall getting my car registered and they wanted proof of insurance or a bond? Maybe that is another way to go? And I have no idea how to. |
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| Jim-Bob | Jan 13 2011, 12:58 AM Post #23 |
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Junkyard Engineer
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Don't forget that I own 2 Metros. I will be keeping the white '92 2 door for now as I still need to build an engine for it. If gas goes to $4-5 a gallon and the costs offset each other I will still be able to use that car. (If not then I might do something interesting to it... like make it run on wood...) What I am doing is selling the Blue 4 door as I feel I can get a decent price for it and use that money to completely pay off the insurance on my truck until September of this year. That way I add a layer of insulation to my finances until that time so that if business goes down I don't have to come up with that money. Plus, I hope to have all of my cars and my house sold by that time so that I can move back home and go to school full time. I just don't know exactly what vehicle I will end up with at the end of it all. My original plan was to just keep the white Metro and build it with mostly new parts and optimized for max fuel economy. Sadly though that won't work if I am to continue delivering pizza while I am going to school. This changes the dynamics a bit and means I need to recalculate to compensate for the variables as they stand now. I just don't know where it will end up yet. I hate being poor...
Edited by Jim-Bob, Jan 13 2011, 01:26 AM.
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| Horn | Jan 13 2011, 01:36 AM Post #24 |
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well you gotta do whats best for you. How much extra is it going to cost to deliver pizza in your truck than your geo? Is it going to cost almost as much as what the insurance costs a month on the truck? Also you gotta calculate how much its gonna cost this summer when gas is crazy high. After paying for the gas, are you gonna have the money to rebuild your geo? Jim-bob I think all of us on here are gonna argue as much as possible against selling the geo. also jim bob if you do sell, you should try to get more than just what the insurance will cost, so you can put the extra money in the geo. Edited by bogs, Jan 13 2011, 12:43 PM.
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| 3tech | Jan 13 2011, 01:57 AM Post #25 |
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Just curious, what does 25/50/25 with zero deductible PIP mean? |
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| CityConnection | Jan 13 2011, 02:12 AM Post #26 |
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Sir, yes sir!
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You gotta pony up some $$$ for a bond. In California (this is from a few years ago, may have changed) you can use a bond in lieu of insurance. You can secure that bond with real estate equity bonds,surety bonds, or state treasury bonds. Cost of the bond? $35,000 |
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| Jim-Bob | Jan 13 2011, 02:58 AM Post #27 |
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Junkyard Engineer
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25/50/25 means that you get $25k in property damage liability and $25k per person or $50k max in bodily injury liability coverage. Zero deductible PIP refers to the Personal injury Protection insurance you carry on yourself. Standard is $10k in coverage with a $2,000 deductible. I pay extra to have a zero deductible on this as I have no real medical insurance and it would be very hard for me to come up with the $2,000 in case of an accident. With the $5,000 in additional med payments, I have a total of $15k in coverage for personal injury ( which covers the occupants of my vehicle in case of an accident). Even though Florida has what is called "no fault" insurance it is a bit of a misnomer. The other person's insurance can still sue you (more accurately your insurance company) to recover losses you cause to their client and to their bottom line. Minimum coverage in Florida is 10/20/10, but you can imagine that this doesn't go very far today. Ideally I would want more insurance but really can't afford it. Sadly, the Metro was to help ease my financial burden but it didn't do that. 2 weeks after getting Metro #1, my employer notified me of a drastic cut in my pay which I have calculated to be $250 a month. Now I am stuck without a real way to cut my expenses any further as I have already taken in a roommate and cut what little excess there was in my life. The Metro would have trimmed $150 off of my monthly fuel costs, but that is exactly the amount my insurance will go up if it is my only vehicle. As it is, they now want $550 this month to continue my coverage and $336 a month for both vehicles hereafter. I don't have either sum available to me and need to unload the Metro to pay this month's coverage or face losing my job. However, I should be able to pay off 100% of my truck's policy premium if it is my only vehicle and thus cut my recurring expenses until September 20th. This gives me the breathing room I need to sell off all my worldly possessions (including 4 of my 5 vehicles and the house I have owned since I left home at 22) to move back in with my parents and go to school full time. I figure it's the only way I will ever get ahead. The zero option sucks, but it's better than foreclosure-which is what I would be facing within a year if I don't do this. All I will have at the end of it is a car, my tools, a laptop, a bed and some clothes. If I am lucky I will also have some money left over from the sale of the house that can then be invested for when I am done with school and can once again buy a home. My hope is that the market improves and I can pocket around $20k but that is doubtful. However, I do have a little hope as some comps have gone for enough to let me do that. I have it better than many do but it is still frustrating as I feel like I have to make all the right moves and can make zero mistakes lest it all falls apart. As for my cars, the Metros have the least amount of work in them. My Cutlass Supreme probably has $12-15k in it as well as more than 2,000 hours of my own blood, sweat and tears. I built every detail of the car to my specification and tried to keep it stock looking where possible. I even mix and matched wiring harnesses from several different cars to add the options it was missing without anyone being able to tell what was done. I not only painted the car and did all of the bodywork myself but I even installed all of the glass myself too. If I am lucky it will sell for $4500. My AMC Spirit is my First car that I have had since I was 15. It's getting a new AMC 360 but the car is rough and I will be lucky to see $2,000 out of it. Both of those cars will be sold on E-Bay though as I feel I have the best chance of maxing my money on there. My truck has been with me since new in 1998 and has shepherded me through 362,000 grueling miles of delivery, towing, hauling, etc. I have done all of the work to it myself but it is tired and I will be lucky to see $2k out of it. Not all of this was in response to your question, but it's meant as a clarification to my other posts. Edited by Jim-Bob, Jan 13 2011, 03:03 AM.
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| Car Nut | Jan 13 2011, 04:59 AM Post #28 |
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JB, On a serious note here. Please excuse me if I may have come off as a bit of a jerk with my pizza insurance joke. Have you given Lowes or Home Depot a shot jobwise? I know they would have some health insurance & chance for advancement, etc. Don't have any idea how much pizza delivery pays, but with your recent pay cut & increased car insurance cost you might make out better if you could snag a new job elsewhere. Overheard a supervisor from Walmart say most WM WOULD BE hiring since it's a new year & new budget money is available. You are correct in wanting to cover all your bases, insurance wise. With your house & assets you could suffer a large loss if something happened & your ins, company wanted to throw the fine print at you. Best of luck to you with whatever you decide.
Edited by Car Nut, Jan 13 2011, 05:01 PM.
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| BillHoo | Jan 13 2011, 09:23 AM Post #29 |
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I tell them I just drive it 9 miles a day as a cummuter car and I pay $20 a month for my metro. In reality, I do drive it a bit more. $20 a month insurance and is saves me $60 a month on gas. Edited by BillHoo, Jan 13 2011, 09:27 AM.
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| Coche Blanco | Jan 13 2011, 10:39 AM Post #30 |
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Troll Certified
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I've never once been done "right" by an insurance company.
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