Did you make a premium payment and if so, was it (or most of it) refunded to you after they dropped you?

 

Let me get this straight:

1. You got a ticket for doing close to twice the speed limit.

2. You allowed your insurance to lapse because you failed to submit an inspection report, and now you're blaming the insurance company because you didn't have your mail forwarded.

3. You incurred $21K of damage to the car and are now looking for an easy way out.

What I see here is a pattern of irresponsible behavior that was destined to end badly. You can try to get a loan to repair the car, or you can let the lienholder repo it and then file for bankruptcy so they can't sue you for the damage. Either way, you need to ride the bus for a long, long time. If the State of New Jersey has any sense, they will suspend your license until you've got a graduate degree.

'04 G35 Coupe DG/G/5AT/Premium.

 

Im not letting em repo the car when i can afford payments on it..I think ive found my way out. A body shop is willing to do it for $12k and thats fine

 

Well, $12k sounds a lot better than $21k. At $21k you might as well get another new car for $20k or so and keep the totalled G35 somewhere until you can afford to fix it.
Since you can get it fixed for $12k, I guess you should just pay whatever you have to pay (insurance increase, etc.) and chalk it up as a lesson learned. It seems to me the only real way to get out of this mess is with a lot of money.

<font color=purple>2004 G35 Coupe Diamond Graphite/Graphite 5AT</font color=purple>
Premium, Nav., 18" Wheels, Z-Xtreme Hyper Grounding Cables,
K&N filter, Clear Corners, 350Z Aluminum Pedals,
Sony Ericsson HCB-30

 

I agree. I think you just need to suck it up and pay the $12k to get it fixed, and chalk it up as a lesson learned to stay on top of the insurance companies and make sure they're happy with whatever they need from you.

I don't know if it makes a lot of sense to have a car like the G35 at 18, even if you can afford it. Its a lot of car for an 18 year old. I mean look at how much trouble you've already gotten in with it, and how much money its cost you.

When I was 18, I would have killed myself or ended up in jail with a car like the G35.

I bought my first ' vette with 400hp when I was 21, and even that was a whole lot of car for my age.

And its not a matter of affording a car like the G35. Think about what you could do with that money investing it and turning it into even more money, rather than pissing it away on a stupid car. As part of your business admin studies, you'll get to a finance lesson where they teach you a concep called opportunity cost and the cost of capital. When you look at it from that standpoint, your G35 is costing you a lot more money than the checks you're writing for it.



2003 G35C, 6MT, DG/G, Aero/Nav/Premium
2002 Corvette Z06, Electron Blue/Black

 

2fast said "I am a business major and i think in terms of smartest way to use your money.. "

You don't sound like anyone I would let manage my business.

Anyway, I hope you get this mess sorted out. You're too young for all this BS.

If I were you I would default on the car loan, charge it off as a bankruptcy loss. You can then afford some decent wheels after you wait a couple of months, finish school while you rebuild your credit rating. By the time you get out of grad school you'll be all set.

Plus, slow down a little, change your screen-name and live a little.

Been there, done that.

JD
2003.5 Coupe, Blk/Blk

 

not to sound like an a$$, but that's why i have always thought the idea of someone under 21 driving a g35 coupe or something like it price-wise and power-wise, as totally insane. if i were a parent, i would NEVER give my kid a $30k+ car with 280hp--no matter how rich i were. there is a reason why insurance rates for ppl under the age of 23 are so high--they are at higher risk for getting into accidents because of plain stupidity or for show. of course, i'm not saying that all drivers under 21 are reckless (don't want to create a riot here on the forum) but a lot are and that is what drives the insurance rates up. i encounter reckless drivers who are under 21 everytime i drive anywhere. and yes, there are reckless drivers at any age, but from observation more young reckless drivers. i think the older drivers may be more clueless than reckless. psychologically, young ppl usually have little or no regard for others and it shows on the road.

so honestly, i have no sympathy. if you play with fire, you're going to get burned. also, when i have kids, they're all getting hondas : )

 

Nah no bankruptcy anytime soon. I am saving up money.. should have the $12k in 2 weeks.. Thanks all for your concern and help > i've learned my lesson surely..

 

Since everyone chewed you out I am going to refrain from donig it.

There was no witness of the accident? You didn't file a police report? I am not too keen on insurance policies but if its the other person at fault their insurance is suppose to pay you. They might try to get out of it by saying you were uninsured but at least you can fight it out.

I guess you just got sh~t out of luck. He probably didn't even touch your car.

 

What online company did you start? And my insurance isnt that high.. get prgressive, i have 6 cars and pay a 10 grand flat rate a year for all of them.

2004 G35c Black on Black/ 6mt/ premium/ aero

 

No, 2, you really haven't "learned your lesson". Yet. More than a half dozen people have mentioned how they felt badly for your situation. And then they went on to describe/criticize you, constructively, about your lack of business knowledge, your lack of driving skills, your lack of taking resonsiblity, your lack of understanding re businesses in general re they're not in business to lend you money, your complete misunderstanding of the dangers you posed ---to yourself and to many others.

Still, you think you've done fine by coming up with a $12K solution, tell us how you've got a thriving internet business that brings in real cash every month, can get past the courts later this month, etc.

No, you haven't "internalized" a word that's been said here by ANYONE. The old saying about if we don't study and learn from history, we're bound to repeat it----the lessons have been told to you by those who've been there. You're not listening, nor do you want/choose to understand them.

And we are all the poorer for it. I hope I don't meet you, accidentally---every pun intended---on the road someday when you're doing your 120 mph, with or without insurance. Most likely without.

End of story. You weren't listening anyway, were you?

BONDg35c

 

you seem like a rich boy. whats the big deal?You can make that money in a few months. Its not the end of the world..

 

realistically, if you're making about 50 grand per year, it really shouldn't be a big deal for you to save up the money and pay for it yourself. considering the fact that you're a student, there shouldn't be that much expenses except for tuition, rent, and normal living expenses. when i was in college, my parents gave me $1000 per month for rent, books, and living expenses and that was plenty. tuition was about $5000 a year which they paid. now with 50g's that's plenty unless you go to some ivy league school. note, this was about 6 years ago, but i don't think that inflation and tuition has gone up that much since i was last there.

i just can't imagine your insurance rates when you're on the road again. i had a patient who's 21, female and a student as well and just bought herself a 350z. she had a clean driving record but her premium was still about $1000/month. imagine if she had points on her record......probably double : (

 

This might sound a little selfish but whenever I hear about someone smashing up their G, I cringe -- not necessarily out of sympathy, but instead because I think to myself: Great, there's one more new reason for insurancecompanies to classify the G as a high- risk model.

That industry keeps tabs on which models get stolen the most, which have the highest number of claims, and which have the highest payouts per claim.

A few years ago it was the BMW 328 -- highest average payouts per claim plus a high number of claims; also the Civic SiR -- high number of claims. Responsible drivers who owned these cars ended up subsidizing the bad drivers by paying higher premiums, since their cars were deemed "high risk".

I am the new owner of a 2004 6MT coupe, and the last thing I want to see is this car get a bad reputation in the isurance industry.

Did you know that Ferrari's official policy is that they will not sell you a new Ferrari if you have crashed one in the past? (off the track, that is -- and certain celebrities are excepted).
It hurts the company image if bad drivers are out there representing their brand. They have people on waiting lists for their cars, so they can afford to do that.

My point is (as harsh as this sounds) when you smash up your G due to an at-fault accident or due to carelessness/ recklessness, speeding, etc. -- then you are (in effect) making every other G owner pay for your mistake... since our car gets one more negative statistic attached to its otherwise good name.

If you're a bad driver, then you are badly representing our car to the insuranc industry.

Having said that, you're still a pretty young kid, so I'm sorry that you had such a tough string of bad luck. I hope you've at least learned a good (expensive) lesson...

Take it easy brother, and save it for the track.




2004 G35C 6MT + Nav, Silverstone

 

seems like he made this thread to brag...