Topic: Thinking About Selling My Honda And DD My 82 Toyota

[Yota Tony]

I'm paying $250/month for liability coverage on my Honda. That's too much imo.
I called my dad's insurance company and they will cover the Honda for $228/month for liability only. Still more then what I want to pay for the car.

I had them run the Toyota for a rate and they want $170/month for liability, still not great but better then the Honduh.

So my crazy idea involves selling my Honda, paying off debt with that money and the DD my 25 year old Toyota Truck on 33s.
Opinions?

[kneedownnate]

What you need to look at is the true const differential.  How much does it cost to run the toyota per month versus the honda?  Are you going to save enough money on insurance to offset the higher cost of gas in the truck? 

[Yota Tony [OP]]

I think I will.

[79coyotefrg]

my  only  vehicle  is my 79  but  dang man  my insurance  is  170 a YEAR 
36 yo  with no accidents/tickets  in arkansas
how old  are  you and where are you

[Yota Tony [OP]]

23, 1 at fault accident 4 years ago and I live in Ontario, Canada.
Ontario has the highest insurance rates of all provinces in Canada.

[motorider228]

Sounds like the insurance costs here or a little bit lower.  Las Vegas has tons of auto theft every year and being that it's a pretty big, congested city, isurance will also be higher due to the freequent accident.

Anyways, your truck may get good enough gas mileage now to make up for losing the honda but when you start modding it out more what will happen?  I'm not trying to discourage you as I would rather DD a truck over a car but just want you to think about that.

Glen, that insurance is damn cheap, do you live in a very populated area?  Or are you in the sticks of a state that is pretty boonies to begin with? lol

[79coyotefrg]

Glen, that insurance is damn cheap, do you live in a very populated area?  Or are you in the sticks of a state that is pretty boonies to begin with? lol

dude  the biggest city in arkansas  is  Littlerock,  145,000 people

my  town has 10,000,  but i live out in the  country 

[46&2]

my  only  vehicle  is my 79  but  dang man  my insurance  is  170 a YEAR 
36 yo  with no accidents/tickets  in arkansas
how old  are  you and where are you

You suck. 

Haha Just kidding you are lucky. I pay about $3,000 a year for my 85 4runner and 94 accord in California. Im 21 too, which doesnt help. I am a prime example of what a lack of foresight will do to you. I think i only have like 6 more years before they offer to give me any kind of insurance reduction...whoohoo

Yota Tony, i think your final decision should weigh in on how much you drive. I see you live in Ontario, do you live in the city itself?? I live in a small town so I can get by with only driving my yota and gas wont kill me too much. This fall I have to commute an hour (one way) to school 5 days a week and so then my toyota is going to get really uneconomical fast. As it stands I can afford to keep both cars on the road but once the fall semester starts I wont be able to afford both, might have to garage the yota for a few months.

So if you dont have to do a ton of driving, get rid of the honda and keep the yota. If you log a lot of miles it might just make sense to keep them both, unless you just cant afford it, then I would say you are in a tough spot. I could never part with my Toyota and the econonomy of my honda makes it hard for me to part with it as well.

[Yota Tony [OP]]

Anyways, your truck may get good enough gas mileage now to make up for losing the honda but when you start modding it out more what will happen?  I'm not trying to discourage you as I would rather DD a truck over a car but just want you to think about that.

I've thought about that and while I'm DDing it I wouldn't put tires larger then 33" on it.

[89toy]

What you need to look at is the true const differential.  How much does it cost to run the toyota per month versus the honda?  Are you going to save enough money on insurance to offset the higher cost of gas in the truck? 

  I agree, look at the differences.  Man, that sucks though  ...I have full coverage on my 89 truck and its about $30 a month  .  I am 24 and live in TX...I am with a military insurance company so maybe that is why it is so low. 

[79coyotefrg]

bought  right for Texas,    glad  we  dont  live in those  communist places 

my sister has  full coverage on her 97 GMC Jimmy SUV,   and  its  like $117 a month

[89toy]

nice...texas isn't so bad  ...as long as you stay away from the a..holes   

[weirdtimes_7]

You suck. 

Haha Just kidding you are lucky. I pay about $3,000 a year for my 85 4runner and 94 accord in California. Im 21 too, which doesnt help. I am a prime example of what a lack of foresight will do to you. I think i only have like 6 more years before they offer to give me any kind of insurance reduction...whoohoo

Yota Tony, i think your final decision should weigh in on how much you drive. I see you live in Ontario, do you live in the city itself?? I live in a small town so I can get by with only driving my yota and gas wont kill me too much. This fall I have to commute an hour (one way) to school 5 days a week and so then my toyota is going to get really uneconomical fast. As it stands I can afford to keep both cars on the road but once the fall semester starts I wont be able to afford both, might have to garage the yota for a few months.

So if you dont have to do a ton of driving, get rid of the honda and keep the yota. If you log a lot of miles it might just make sense to keep them both, unless you just cant afford it, then I would say you are in a tough spot. I could never part with my Toyota and the econonomy of my honda makes it hard for me to part with it as well.

DAMN  , $3,000 a year!!!!!! i pay about $1,000 a year for my 91 yota DD, 2002 YZ250, 90 Ford Diesel, and 79 VW Rabbit... all with full coverage... damn, i think it's time for you to get a new insurance company.... oh ya, i'm only 22..

military_stang

[hudlenutz]

$250-month in insurance divided by $3.00-gallon of gas = 83.33 gallons a month.  Time 18 miles to the gallon = 1500 miles a month. 

If you drive your honda less than 1500 miles a month, you can do better by just driving the Toyota, than driving and insuring both.  This comparison totally disregards possible repairs, maintenance, license and regestration, but it should help.  If your gas costs and gas mileage are different, just plug them in to see what your numbers are.

[hudlenutz]

If you are only insuring the honda now, and are thinking of switching to only insuring the toyota,  math applies:

assumptions (change these for your situation, if they're different)
  honda gets 30 mpg
  toyota gets 18 mpg
  gas costs $3/gal
  honda insurance = $250/mo
  toyota insurance = $170/mo

the math:
  the 30mpg honda costs $.10/mile in gas to drive
  the 18mpg toyota costs $.166666/mile in gas to drive
  insurance savings would be $80/mo
  .1x=.16666x-80
  .06666x=80
  x=1200 miles per month

Translation:
  X is the critial break-even point for your insurance versus gas mileage.  If you drive LESS than 1200 miles a month (14,400 mi/year), the Toyota costs less to drive.  If you drive MORE than 1200 miles a month, the honda costs less to drive.

Rescenario:  maybe your honda gets 35 mpg, then the critical mileage is 988 miles per month (11,856 mi/year). 

Either way, wheeling has never been about saving money.  That said, for a number of reasons, I think you should dd the truck, sell the honda, and get out of debt.

 

[hudlenutz]

geez, three posts in a row, I'm on a roll.

On the topic of insurance, my 1998 4runner costs $127 every six months ($21/month) for liability only (100/300).  I live in wyoming, in a town of 25,000.  I'm 24.

[46&2]

DAMN  , $3,000 a year!!!!!! i pay about $1,000 a year for my 91 yota DD, 2002 YZ250, 90 Ford Diesel, and 79 VW Rabbit... all with full coverage... damn, i think it's time for you to get a new insurance company.... oh ya, i'm only 22..

military_stang

I made some bad choices when I was younger. 

I exaggerated a little its more like 2700 but im going to be taking full coverage off of my honda because its a rally car anyways.