Im paying for My GXP in Cash. Now I would like to insure it even if the monthly is more. for the off lot cost as a show car.
Im affraid if i dont. A month or so later im going to smoke a deer"I live in MI bad deer country" and get notta because i already paid for the car. theres no bank to pay off? Im 20 so a little exp or advice from my elders????? Am I being parinoid? or is this a laggit fear......

Oh my didnt think of this till now. Has anyone hit a deer or been in acc with one? Deer would come right on in to sit with you. ahhhhhh

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My SOl is now named
SOL SURVIVOR
Black on Black GXP
1st allocation for dealer
Char MI

My father has hit deer, I've had friends who have hit deer, and I have personally hit a Cow (three times). None of them caused a lot of damage, but it was always messy. However, I would have full coverage on the car as well, because what if you swerve to miss a deer and hit a tree!!!

What would having a bank loan have to do with what you get if your car is totalled? Or am I misunderstanding you? Just insure it for collision and comprehensive, just as if you had a bank loan. If you total your car, the insurance company will still pay you the market value of your vehicle at the time it is totalled. You don't have to have a loan on the car to carry insurance.

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This is true. You won't however get your full paying price with collision and comprehensive insurance, and you prolly will have a $250, $500 or $1000 deductible. The value of your car will depreciate after you drive off the lot. However, with the Sol, it is possible that the value one month after a buying it, then totalling it, might be a bit above what you paid if you could prove to your insurance that replacing it would cost more now than you paid then. Works that way sometimes. W

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Solstice GXP picked up 10/13/2006. Triple black Mysterious, Darkside, Ebony leather with red stitching. All Options, but no spoiler. 5 speed chrome wheels, XM, OnStar, sport metallic pedals everything but the blonde salesgirl...

Depending on when you anticipate hitting that deer, the insurance company will pay you what the vehicle is worth at the time of loss..better known as actual cash value. So if you want to get all of your money back, hit the deer in the first 6 months! The longer you wait the more the car depreciates. All insurance companies work the same way, and others members are correct, you don't need a leinholder to be able to buy comprehensive and collision. If all you're worried about is the poor deer, get a low comp. deductible as that is the coverage that covers animal damage. PM me if you want any other answers..32 years in the business.

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Agressive w/everything but Onstar and smokers package. #1 of 1, second allocation.
Code 3000 finally!!! 1/3/063400 1/13/06, born sometime between 1/13 and 1/30, delivered 1/30! #9887. Nellybelle (Nelly)has arrived! Plate # MIDLFSOL. Chrommies,CAI & Windscreen. Proud member of NEO/PA, the Club of Clubs!

You may be able to do it with any insurance company, but I believe that if you call a specialty insurance company like Haggerty (also in Michigan, Traverse City) and you are going to have the car as a "show car" or a very limited use car - then you can pay for full replacement value (or stated value) insurance. It will cost you a higher premium, but if you find yourself unable to miss that errant deer or face the realities of depreciation then bite the bullet.

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Winged Wheels

pay for half of the car with cash, and get a loan for the rest.

depending on the interest rate you receive on the car itself, vs the interest you can get by putting the cash in a savings account, you could likely offset the interest, and make a little more.

that way, if you crash your car you don't lose all your money.

edit: most CDs are paying about 4.5% right now so if you can a loan for 12-15k with a lower rate than that, and then throw the remainder into a 5 year CD, you're better off, in the long term, and short term (if you wreck) by getting a 3 year loan for half of the car price.

additionally, you may even get a better interest rate, if you use the same bank to run your loan that you get a CD with...

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1997 Acura Integra GSR
2004 Subaru Impreza WRX Wagon

I totally agree. What I don't really understand is how this really affects the cash sale vs a loan? If he had a loan instead of buying the car outright, and the remaining amount on the loan was higher than the cash value of the car, he would still be at a loss anyway since he would be upside down on the loan.

Either way, he is going to end up paying for the amount of depreciation on the car from it's purchase price.

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Thanks guys. I Have my money in a term share waiting for aug. So letting earn a little. and im not affraid for the deer.lol I hunt the poor guys, just not with my bumber. My fear about hitting the deer with such a low profile is it will HIT ME land in my seats. Kinda thing.

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My SOl is now named
SOL SURVIVOR
Black on Black GXP
1st allocation for dealer
Char MI

Maybe you should consider a Hummer 3?

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Former First 1K Vin#732 Cool Owner...First in Line for 2007 GXP

Yupper.
I did not understand the discussion on a loan vs cash sale argument either. From an insurance perspective, they do not care one bit that their is a loan on a vehicle or that someone paid cash. For the record, I paid cash for mine. But, I have total insurance on it, and would still lose if the replacement cost is less than what I paid. I have excellent insurance and a good driving record too.

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Solstice GXP picked up 10/13/2006. Triple black Mysterious, Darkside, Ebony leather with red stitching. All Options, but no spoiler. 5 speed chrome wheels, XM, OnStar, sport metallic pedals everything but the blonde salesgirl...