How much is insurance per year on a E46 BMW M3?
I'm looking into buying a 2002-2004 M3. I'm 18 yo male with a clean driving record.
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/ My ‘guess’ would be around $2,500.00 a year for you…
The reason I am guessing, is because auto insurance cost depends on your credit history first – believe it or not.
Secondly, it’s not your fault that you fit in the category of being a young male, but they are the worst drivers (wreckless speeding, accidents, swerving in and out of traffic, road rage, racing on public roads, etc), so your insurance will be higher than normal simply because of the others who gave your gender and age group a bad driving history.
Third, having a clean driving record at 18 is a big ‘plus’ and if you can stay that way until you are 21, you will be better than most young male drivers, and your insurance will go down considerably at that time.
Lastly, you are asking for insurance on an expensive automobile which will be driven by someone who fits in the category as the worst drivers, so automatically you will be paying the highest rate without having done anything wrong.
The problem with insurance quotes from places like Progressive.com, is that they will quote you a lower rate than they will eventually charge you. You will find that within a month of signing up, they’ll have an excuse to raise your rate without you knowing it. Geico and Progressive have class action lawsuits against them for doing this to new drivers.
Hopefully, if possible, you can get on your parent’s insurance plan at a reasonable rate first.
instead of asking people on this site for a estimate, try a real quote, go to progressive.com and sign up and get a real estimate
Expensive, but worth every penny
alot
more than you can afford.
several thousands of dollars
Take this into consideration. I am a 19 year old male, and I bought a 1998 bmw 328is about 6 months ago. I am paying $1300 every six months for liability. I cannot begin to fathom the costs of insuring a newer M3…
Good luck trying to get car insurance becuase most of them won’t insurer people under 25 who own high performance cars like a BMW M3.
I’m 19 and I even can’t drive my dad’s 98 BMW M3 because of the insurance policy.
Over 2000. Good Luck.