Bought 2001 at 19. Paid 200 per month with Geico for full coverage and a low deductible. All other companies wanted 300-400+. Geico has lowered my rates every 6 months, and now at 22 I'm paying 115 per month. I've never had a ticket.

 

Bought my '03 AP1 at 20 years old with 63k in it. Now 83k.

$3,000 down/ $285 monthly payment/ $130 USAA full coverage $0 deductible.

 

Coming from somebody that lost their license at 19 because of too many points (didn't even get my license till I was 18), I can only say that this car should be illegal to drive for anyone under the age of 21. I have not had a single point on my license in 15 years since losing it, but find myself driving this car like I am 18 again. I have become a Jekyll and Hyde sort of driver now. Put me in my 4runner or the wife's Odyssey and I behave. Strap me into the S and I am far too tempted. This is why I need to get out to a track....soon....

 

Why would every car be $3,000 a year for insurance? Is there a flat-rate insurance program in Canada? In the end, as long as you are paying the insurance out of your own earnings, then that's your decision and an s2000 isn't the worst thing you could be blowing money on... but $3k a year could go a long ways towards a down payment on a house or other investments.
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Actually $3000 is one of the cheaper rates, Im paying generally lower than most people my age. We get raped without the lube up here in Ontario . Quebec has it great though, on average less than $1000 a year. The s2000 believe it or not, is one of the cheaper cars to insure in Ontario Canada. There are a few factors, I forget them all though. A Honda Prelude or Honda Civic though, for me would be well over $3000.

$3000 a year towards a house down payment? That would take more than a few years to save up . Where I live the average price of a home is $350,000+
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A down payment is not the full price of the house, hence the term down payment So are people in Ontario just horrible drivers, why are the average rates so high? If I'm paying $3k a year in car insurance I better be driving something more exotic than the s2k!

 

got mine when i was 18. as of now i am 3/4 way through paying it off.

 

Bought my 2003 Sebring AP1 When i was 19 last june. Paid cash. im looking trade her in on a nsx when 10k on top. i wish i could keep the s and have noth but insurence is killing me at 398$ a month just for the s.....

 

If I recall, first time home buyers in Ontario need 5% or 10% down payment to be approved. I believe it is 10% though.

The insurance is high, because it isnt really government regulated at all. A lot of people do insurance scams and get away with it too. One of my friends did an insurance scam for $30,000+ and got away with it, that is common here... . There are so many reasons, bad drivers are also a reason. Most kids go under their parents names, but I wasnt lucky enough to get that opportunity.

 

Thanks for the information. I retract my previous statement, if you have to pay at least $3k a year for insurance regardless of the car, the s2000 is a much better option than something boring like a civic

 

Bought MY02 a month after I turned 22. Should be paid off pretty soon. My insurance is only $110 a month.

 

$177 payment on the vw for 18 more months, sold the MSM and the crv and s2k are paid off. Considering selling the GTI as I rarely drive it anymore