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      09-06-2013, 07:59 AM   #1
poosamjam
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3/4 considered high risk for teens?

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Im looking to lease a 435i and I'm a teen. I was wondering if the 435i is considered high risk with a ridiculous rate. Also i would like to know if its the same with the 428i or the 3 series. Please share what you know. Thanks.
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      09-06-2013, 09:11 AM   #2
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must be nice to have that cash as a teen. I am sure 35i's are considered high risk for teens compared to 28's
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      09-06-2013, 09:13 AM   #3
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You'll be ok. I know some young teens who bought a vette at an early age. Go for it
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      09-06-2013, 09:36 AM   #4
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the only real way to find out is to call your insurance and ask them for a quote on what it would cost to insure.

you being a teenage male automatically puts you at higher risk due to statistics.

2 doors are traditionally more expensive to ensure because they are categorized as a sport vehicle. also a 35i engine may be classified as a higher risk/cost due to more horsepower. i believe its anything over 300 is considered "high performance" -- the 35i engines sit at 300 so i guess its really up to the insurance company as to how they want to classify it. also BMW is a "luxury brand" .. a 4 is new on the market, etc.

there are so many different factors that could determine if you/your car is "high risk"

bottom line though, you're going to be considered high risk no matter what you drive. youth + male + car = bad combo in any insurance companies eyes.

though if you get a slower car you're "less likely" to be an "enthusiastic/spirited" driver and will probably cost less to insure.

TLDR Version:
you are high risk no matter what you drive, HOWEVER
less expensive car, less expensive insurance.
more expensive car, more expensive insurance.

Last edited by riimiX; 09-06-2013 at 09:44 AM.
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      09-06-2013, 10:24 AM   #5
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Quote:
Originally Posted by Andrew115 View Post
must be nice to have that cash as a teen. I am sure 35i's are considered high risk for teens compared to 28's
Any teen with no other expenses can afford a 4-Series lease plus gas and insurance with an average part-time job.
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      09-06-2013, 10:29 AM   #6
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Also it depends where you live. If you live in a huge city then your premiums will be high if its like a small town then it would be cheaper
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      09-06-2013, 10:36 AM   #7
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Quote:
Originally Posted by poosamjam View Post
Im looking to lease a 435i and I'm a teen. I was wondering if the 435i is considered high risk with a ridiculous rate. Also i would like to know if its the same with the 428i or the 3 series. Please share what you know. Thanks.
I'm not familiar with the laws in California but I live in South Africa and
I'm 18 and getting a 1 series and as a Male teenager with no record, we are considered the highest risk.

Luckily for me I started a business a few years back and am able to put the vehicle on the business insurance instead of personal insurance. I have to do this because the insurance companies either completely rejected wanting to insure me or the repayments on the insurance were more than the actual repayments of the vehicle.

Best thing to do is check with all your insurance companies and also make sure you can even get finance at all? Like I said i'm not sure what the laws are but in South Africa, we have to have a credit record before we are allowed to buy anything on lease... What a drama!
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      09-06-2013, 10:49 AM   #8
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All I can say is god bless Amurricaa - most teens here in the UK would bankrupt themselves and their parents for an old Peugeot 107 or shitty old Nissan Micra!

If you have the cash, bloody go for it!!

Insurance quote for a 435i must be around 30,000-40,000 here for 17/18/19 year olds, if you get a quote at all!
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      09-06-2013, 11:01 AM   #9
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Yes you are high risk. Any male under the age of ~25 is high risk. Let alone you are trying to get into a high performance coupe. Your insurance will be a fortune alone.

Quote:
Originally Posted by F32 View Post
Any teen with no other expenses can afford a 4-Series lease plus gas and insurance with an average part-time job.
Assuming part time, 20 hours a week. Assuming teenage job, $10 an hour. Assuming 4 weeks a month. Assuming total state, federal, medicare and social security tax rate of 10%.

You're looking at just over $700 a month in income.

A 435 payment will be at least $450-500/mo. Your gas will be at least $150/mo. Your insurance will be at least $200/mo. Totals to $800 a month. This is a conservative estimate ...

But wait, there's more! Don't forget about the excise tax of a few hundred to a thousand dollars up front, or the total due at signing which is a few thousand (assuming you're leasing, since unless you have 15,000+ in the bank there's no way you can finance)

So if you want to throw away every penny you make each month to get into a car you cannot afford before you are 20, so be it. You will finally have the car you've always dreamed of having! But have no money to do anything with it and no where you can afford to visit.

This must be one of the craziest things I've read on here in a while.
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      09-06-2013, 11:24 AM   #10
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Quote:
Originally Posted by dwalls90 View Post

This must be one of the craziest things I've read on here in a while.
I didn't say it was smart. I said it was doable. And my assumption was $13/hr, 25 hours/week...standard for a bank teller or higher-end retail sales.
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      09-06-2013, 11:25 AM   #11
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Quote:
Originally Posted by dwalls90 View Post
Yes you are high risk. Any male under the age of ~25 is high risk. Let alone you are trying to get into a high performance coupe. Your insurance will be a fortune alone.



Assuming part time, 20 hours a week. Assuming teenage job, $10 an hour. Assuming 4 weeks a month. Assuming total state, federal, medicare and social security tax rate of 10%.

You're looking at just over $700 a month in income.

A 435 payment will be at least $450-500/mo. Your gas will be at least $150/mo. Your insurance will be at least $200/mo. Totals to $800 a month. This is a conservative estimate ...

But wait, there's more! Don't forget about the excise tax of a few hundred to a thousand dollars up front, or the total due at signing which is a few thousand (assuming you're leasing, since unless you have 15,000+ in the bank there's no way you can finance)

So if you want to throw away every penny you make each month to get into a car you cannot afford before you are 20, so be it. You will finally have the car you've always dreamed of having! But have no money to do anything with it and no where you can afford to visit.

This must be one of the craziest things I've read on here in a while.
walls is right. i mean, i didn't want to mention this point, discourage you or hijack this thread.... but unless daddy warbucks is paying for everything you should consider saving up for your future. my first car was a honda accord and i drove it for 8 years before finally making a leap into an infiniti g37 and then bmw.

money is MUCHHHH easier to stockpile when you're living at home with minimal expenses. re-focus for the long run and pick-up something fun to drive. why not consider an FRS or BRZ? you'll get the same thrill going through the twisties just minus the luxury aspect and some power.

in b4 "let him do what he wants" / "he didnt ask if this was a smart decision" etc.
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      09-06-2013, 12:01 PM   #12
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Quote:
Originally Posted by riimiX View Post
walls is right. i mean, i didn't want to mention this point, discourage you or hijack this thread.... but unless daddy warbucks is paying for everything you should consider saving up for your future. my first car was a honda accord and i drove it for 8 years before finally making a leap into an infiniti g37 and then bmw.

money is MUCHHHH easier to stockpile when you're living at home with minimal expenses. re-focus for the long run and pick-up something fun to drive. why not consider an FRS or BRZ? you'll get the same thrill going through the twisties just minus the luxury aspect and some power.

in b4 "let him do what he wants" / "he didnt ask if this was a smart decision" etc.
All this is fine n dandy. Here's another perspective...when I was 19 in 1999, I had a fairly high income and the markets were red hot. I wanted to buy a brand new E39 M5 as they were about to come out, but I figured it would be irresponsible to buy a $85K car at 19. I could have afforded it with a $50K down-payment and slight life-style adjustments monthly for the payment...but I did the respnsible thing and listened to my parents. What happened to that $50K I would have tied up in the car? It got pissed away in the tech wreck. I lost it all. If I had bought the car I would have still held a portion of that.
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      09-06-2013, 03:14 PM   #13
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Quote:
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must be nice to have that cash as a teen. I am sure 35i's are considered high risk for teens compared to 28's
There is a certain satisfaction, though, when you can say no one gave it to you, but you straight up earned it.
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      09-06-2013, 03:45 PM   #14
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Quote:
Originally Posted by poosamjam View Post
My parents are willing to lease a me 435i and I'm a teen. I was wondering if the 435i is considered high risk with a ridiculous rate. Also i would like to know if its the same with the 428i or the 3 series. Please share what you know. Thanks.
Fixed.
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      09-06-2013, 03:52 PM   #15
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Fixed.
Eh, he might have a trust fund, or could have a job at a family company/family friend's company that pays super well, OR he could be a whiz-kid entrepreneur (however, usually I would think those guys would be savvy enough to know the answer to this question without a forum).

However, he is in CA, and I knew plenty of kids out here whose parents did exactly what you "fixed" his quote to say. Oddly enough, though, usually those kids parents, of course, handled the insurance and it was completely out of sight out of mind to them.

So, this one has me curious, are you a whiz-kid?
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      09-06-2013, 04:27 PM   #16
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It's probably high-risk because of the power and the sports-car nature of the car.

Could also be that with the N54 335i there was such thing as "mature teen" and they all thought they were badass with the "drive like you stole it" mindset.
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      09-06-2013, 04:31 PM   #17
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I'd suggest a '28i while you're still learning how to drive.
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      09-06-2013, 04:34 PM   #18
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Quote:
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Fixed.
oh quit being a sourpus and thread jacking

High risk, probably not but it's going to be pricey since you're young and it's an expensive car. A 428i is going to be cheaper, but to be honest it's pointless to ask a forum because rates are pretty darn specific to the person, driving record, area, and car. I'm 22, have never been ticketed for anything and pay about $45/mo thanks to being on my parents' policy but when I had my 135i a couple of years ago it was over $120/mo. I imagine you'd be lucky at your age to have the 435i for less than $175/mo for insurance but I don't know. My suggestion if you have a cheaper car in the family (like a van or slow sedan) is to list that one as your primary. That's what we did when I was 16 as I had a G35 coupe and it would have been rather expensive.
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      09-06-2013, 04:42 PM   #19
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      09-06-2013, 05:05 PM   #20
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I think it's inappropriate for fellow posters to be so presumptuous. Personal opinion aside, the OP is asking about insurance for a 2014 435.

I can tell you this (since I just did it)- when I changed from a 2011 328i to a 2014 335i, my rate went up a whopping $3/mo. Now I am a 35 yo male with zero claims in the last 3 yrs, so very favorable insurance profile. Any male under 25 will Prob be paying at least double what I'm paying. And you have to factor in location, etc. also the coupe factor will increase the $, but I'm unsure how much. But I don't think the 35i vs 28i will makes much difference.
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      09-06-2013, 05:13 PM   #21
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Quote:
Originally Posted by Mwm1166 View Post
Eh, he might have a trust fund, or could have a job at a family company/family friend's company that pays super well, OR he could be a whiz-kid entrepreneur (however, usually I would think those guys would be savvy enough to know the answer to this question without a forum).

However, he is in CA, and I knew plenty of kids out here whose parents did exactly what you "fixed" his quote to say. Oddly enough, though, usually those kids parents, of course, handled the insurance and it was completely out of sight out of mind to them.

So, this one has me curious, are you a whiz-kid?
i admit my generation is full of spoiled kids(including me) and i have no problems financially. Ive seen A LOT of teens drive 328i/335i and none are aware of the insurance rates they get each month. even if i can afford it, its still not logical to me if the payment is more than the lease.
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      09-06-2013, 05:26 PM   #22
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I doubt it would be more than the lease, but I doubt it'll be cheap either. Sports car with a $45k+ price tag, and, statistically, the most unsafe driver (teenage male). Best bet is to call the insurance company and ask before you go through with it
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