Would it be cheaper to insure a 87-93 mustang GT then a 99 GT?

Question

I'm 16 and turn 17 in 2 months. I was thinking about saving up my money to get a GT someday after I get my license after i'm 18. I read somewhere that insuring a newer mustang GT (99-04) would be probably almost 400 bucks a month. But would a 99 be cheaper to insure than a 00-04? My neighbor across has a 99 GT and a 93 convertible. Hes probably about 17-18. He also has a brother in law that is probably 20 and they buy broken up mustang and repair them. They dont fully restore them but just ones that need a little bit of body work. Like they had this 89 GT hauled to their house yesterday and it had no hatchback door. It also had 2 front spare tires in the front with a busted out headlight. But it ran pretty good. Would it be cheaper to insure a older mustang? (87-93) t hen a 99? Or would they be the same since their pretty older? How much would u estimate the monthly payments?

Answer 1

hey dude i have a mustang 87 mustang gt....and insurance is HIGH! but theres nothing you can do about it...its a sports car...and you are young.

Personally, i would have your parents insure it...and have them just cosign on you title...insurance will be much cheaper. Im doing this with my dad. cost him on 30 bucks a month or so.

A think a good rule of thumb to is that the older a car gets the cheaper the insurance...so considering that your only interested in mustangs...the cheapest insurance would be for the older car. I estimate you paying insurance yourself 300 bucks...but hey im no insurance broker.

Although fun, Muscle cars are not cheap.

Answer 2

call different insurance agencies with your info then compare!

Answer 3

it normally works that way. older cars are cheaper to insure. but in your case just call different insurance companies and ask

Answer 4

There are a few factors that influence insurance premiums.  Your age; if you are under 25, you will pay more.  Your gender; if you are a male, you will pay more.  The value of your auto; the higher the value, the higher the premium.  The type of auto; fun cars: sports cars, suv's, muscle cars, etc. cost more (reckless lifestyle.)  The market you live in; generally, the larger the city and the closer you are to it, the higher the premium.  Your individual record; if you have had accident(s,) speeding tickets, dwi's, possession citations, etc., you can expect to pay a lot more.  

So, to briefly answer your question, the older the cheaper, but a v8 will cancel some of that.