[masraum]

Originally Posted by Alan A

OP: Check what they’ll cost to insure first.

Full disclosure - my kids 17 and he wanted something fun.
I wanted to get him a Subaru…
We got him a pre owned 330 for about the # you stated.

My. Insurance. Has. Doubled.
Went from 450 a month for two cars to $950 for three.
$180 of the bump was the car, the rest was a 17 year old male.

My umbrella policy has also doubled.

My agent also told me they are finding it harder to write coverage on cars > 15 years old.
#1 really wanted an XK8 - despite not being gay - which is why he’s ended up with something newer.

Side note - was never a BMW fan, but for the $ (3 years old, not new) it’s hard to argue the value of his car. I’m thinking about getting one myself now.

My old boss recently got in an accident in his old Lexus after he retired. He replaced it with a CPO BMW 330i that had been a loaner for the dealer where he got it. I think he was in the budget mentioned.

It's been 20+ years since I was insuring a teen, but yes, they do cost a fortune compared to "old" folks.