Local Infiniti running $219 lease on 2013 G37!!!

[RushXTC]

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@Creditaddict wrote:

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@RushXTC wrote:

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@ExplicitElicit wrote:

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@Creditaddict wrote:

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@RushXTC wrote:

Very good price, However I got my 2013 Mustang for $305 a month, Since it's a purchase, I need the "lowest" "full coverage".

On the lease, you need the highest one, So I think it would have been the same thing, considering the high price on that insurance. lol.

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sorry we are not comparing apples and oranges when you talk about purchasing vs leasing on different makes and models!

AND, I don't care what is REQUIRED, I would NEVER carry minimum coverage of any sort on a NEW car! that's just crazy... (my opnion)

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Working for State Farm it's amazing how low of limits people carry, and they seem to not even care. I had a customer buy a 2015 Tahoe and I even financed it for him and he wanted the state minimum coverage... I explained to him over and over that the coverage he had would not even cover the vehicle. I really don't understand how some people could be so irresponsible. 

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Most people, Including myself, Just want to save some money monthly as no one plans on crashing, I get it, Everyone who has crashed has not planned on it and it's an accident, But since I've never crashed in my life I feel comfortable. Anyways, We have gap to cover the difference incase of a total loss. =P

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lets not confuse the insurance for the car (WHO CARES... it's replacable) and insurance that covers occupants in your car, other car, etc.... AT LEAST consider increasing your coverages for the medical stuff, who cares about the cars!

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Good point, That only increases insurance by a couple of dollars, Hardly unnoticeable. My insurance is going down this July, Because a speeding ticket just fell off and my policy expires then. When I renew, I'll make sure to get a higher coverage.

[ExplicitElicit]

I guess that'sa good thing about SF Bank. We offer free gap insurance with every loan. I guess that gives some customers some piece of mind.

[FLbiker77]

I agree.  The lowest coverage is not a good thing.  I learned that when buying a new home.  Someone from my homeower's insurance company explained how that works and how you can have the best coverage at the lowest prices.  It took a couple of years but it does work.  I just checked on auto inusrance for leasing a new 14 SRX and the payments are about 15.00 difference a month!  Not bad considering the huge difference in payments between leasing and purchasing.  And I know my home is protected since it was a big investment.  

[Remember0]

I feel there's a little confusion here.

RushXTC and others who carry the minimum state full coverage, let me define a few terms and then ask you guys a question:

Full coverage = You have comprehensive, collision, third-party liability, and uninsured motorist coverage. (Notice how I did NOT mention limits here. Full coverage means you have all coverages at some limit.)

Collision = Pays for damages to your car in event of collision (duh). If you're not-at-fault though you can always go after the other driver even if you don't have collision coverage and get your car fixed as long as they had insr/pay up.

Comprehensive = Covers all damage to your car that results not due to a collision (ie a tree falls on it, someone steals your car, etc). Exception: animal stikes are covered under comprehensive oddly even though you'd think it's collision.

Third party liability = Required in almost every state at different limits. Pays for damages you cause when you are at fault at an accident. Often quoted like 25k/50k/25k. This means it'll pay out a MAX of 25k per person bodily injury/50k per accident bodily injury/25k per accident property damage (ie often the other guy's car).

Uninsured/underinsured = If someone crashes into you and they don't have enough insurance, this pays you for bodily injury (and property in some states) caused to you by the at-fault underinsured party. Essentially insurance against deadbeats.

PIP = In no-fault states this exists. Essentially pays for your hosp. bills regardless of whether you are at fault.

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Now for those of you who take state min. Look up what state min is. My state is 25/50/25, essentially. Say you get into a crash and you're at fault. If you cause 50k in hospital bills for the other driver, you do understand that the other driver (or more likely other driver's auto insr) can sue YOU for the difference right? They'll get a judgment (that shows up on your credit) and can garnish wages, force you into BK, etc... And think about how quickly a hospital bill can go above the state min (some are as low as 15k)!

Now some people who have no assets and low income can get away with the "lowest" full insurance. Their car is covered by comp and collision and people they hit aren;t going to sue them because you can't really bleed a turnip. But god help you if you have any kind of assets (or wages) that are not protected from creditors' judgments/in BK.

I think most people should get at least 100k/300k/50k coverage, if not EVEN higher. God knows I have far higher coverage than even that. It's generally cheap!

If you really want to save $ for your auto insr, don't cut corners. Shop around for quotes and/or increase the deductible on comprehensive/collision to whatever it is that your lender allows (check first). Just make sure you can afford that deductible if your car ever gets damaged. But I think skimping on 3rd party liability (and tbh UM/UIM which is super cheap) is stupid esp. if you have a decent wage/any assets at all.

Don't wait until renewal, do this TODAY! They'll prorate the premium. I don't want you to go BK if you get into an unfortunate accident tomorrow.

[azguy13]

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@Creditaddict wrote:

Killing me... They are running $1995 down, $219/ 24 month lease on a 2013 G37.  Who knows what the backend is on this and what it would cost to move up to Premium/Nagivation but either way, That is about a $100 less then they have been running as specials so little surprised.

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If I wasnt looking for a truck I would very much consider this. That is a great deal. I am hesitant on leases though as I am very inconsistent with my yearly Miles

[Creditaddict]

Thankyou remember that was explained well:
I have known someone that had to file bk because of a friend that crashed his car and he had little coverage... That was literally the only thing in the bk and it crushed him to do it, he tried to work with the people but their lawyer pushed (most would file and not think twice but why have to)
On the flip side I have know more than one person that was in a substantial car accident like broken legs and such and the other thing you have to think about is it's not just the trip to er, the one friend that comes to mind maxed through his personal car insurance and personal health insurance before even leaving the hospital and he had ongoing issues for years (still small issues like 10 years later) but persons car insurance paid out the max $100k back like 1-2 years after accident and when he caught back up on medical bills and bought a beater car that $100k was gone!!

[Remember0]

Yep, two great reasons to:

A) Have high liability coverage. IMO at least 100k/300k/50k. Consider even bumping it to 250k/500k/100k. And if you have a lot of assets (like above 250k+ really) or high wages consider buying umbrella insurance on TOP of the 250k/500k auto limits.
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and

B) NOT skimp out on UM/UIM coverage (most people don't carry a lot of liability like they should. You DON'T want to have to owe medical bills because someone ELSE was irresponsible). In many states you can get a maximum coverage of what your liability limits are (some states allow 2x liability but only few do this). Plus UM/UIM is super cheap...so don't skimp...take the equivalent of what your liability limits are (or more if your state allows it).

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Also that lawyer seems stupid. Why push when you know the guy's going to file BK. Geez, just work w/ him to get whatever little you can. Litigation 101 haha.

[ExplicitElicit]

THANK you Remember0! Working at State Farm I have to hammer this into everyone's minds to make them aware of this. It's just baffles me that people are willing to carry state minimums and drive around in a brand new Infiniti, or even when they own a company worth over 100K and still carry minimums.. All it takes is one person to find out your worth and come after it all.

[Remember0]

I think both the insurance industry and the consumers are to blame. Yes consumers are generally stupid. BUT the industry's choosing of and actively using terms like "full insurance" and "comprehensive insurance" and "collision insurance" makes the matter worse.

I'm actually really into litigation matters (not a lawyer, as a hobby/something I like to read) and it took me a good hour or more to read and understand everything around auto, home, and umbrella liability insurance. Imagine the regular consumer who isn't into litigation, which I assume the majority are definitely not.

Thanks for hammering it into people! You're doing your part to making sure everyone is adequately covered & bringing down rates for everyone.

Regardless, if there's one thing I hope to leave that people remember: Do not skimp on liability or UM/UIM insurance. For most people at least 100k/300k/50k. If you can afford it do 250k/500k/100k!!!