# when to start insurance on a car headed to the performance center



## moRider (Feb 28, 2012)

The math between lease/buy isn't always straightforward. Sure, if you know you want to swap cars every 3 years, don't want to excessively mod, and can keep mileage under control, leasing makes more sense as long as you do your homework and negotiate a good deal. 

I've always bought (both new and pre-owned) and taken advantage of low APR offers. But, I have also kept most of my cars for 7+ years. More importantly, I have been lucky (so far) with no major repair bills after warranty. But, having no car payment after say a 48 or 60-month financing term will help fund any necessary repairs.

In either case, you're not making a great financial investment - just investing in something that hopefully makes you smile 😜


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## 896558 (Aug 25, 2020)

moRider said:


> The math between lease/buy isn't always straightforward. Sure, if you know you want to swap cars every 3 years, don't want to excessively mod, and can keep mileage under control, leasing makes more sense as long as you do your homework and negotiate a good deal.
> 
> I've always bought (both new and pre-owned) and taken advantage of low APR offers. But, I have also kept most of my cars for 7+ years. More importantly, I have been lucky (so far) with no major repair bills after warranty. But, having no car payment after say a 48 or 60-month financing term will help fund any necessary repairs.
> 
> In either case, you're not making a great financial investment - just investing in something that hopefully makes you smile 😜


hello, I agree about the investment.. I see a lot about " depreciating asset" but for me and I am sure others, who cares, we know that.. and getting a nice fun car is the real enjoyment, and I know I dont care about the depreciating asset aspect of it at all.. I agree with your statement of an investment in something that makes you smile.. that is exactly why I am getting my new convertible..


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## jvogt1 (Aug 29, 2007)

moRider said:


> ...In either case, you're not making a great financial investment - just investing in something that hopefully makes you smile 😜


So true. A luxury sports car (two-seater in my case) and financial wisdom don't really go together but I've been smiling ever since I made the deal on January 3rd. After a year of Covid I'm ready to do something fun and exciting rather than sitting around the house doing puzzles (although most have been Rt. 66 puzzles featuring muscle cars and western scenes ). As the wife and I are vaccinated, we're ready to get out there beginning with PCD in three weeks.


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## polo2883 (Jun 29, 2012)

jvogt1 said:


> So true. A luxury sports car (two-seater in my case) and financial wisdom don't really go together but I've been smiling ever since I made the deal on January 3rd. After a year of Covid I'm ready to do something fun and exciting rather than sitting around the house doing puzzles (although most have been Rt. 66 puzzles featuring muscle cars and western scenes ). As the wife and I are vaccinated, we're ready to get out there beginning with PCD in three weeks.


I am taking delivery on 3/24 from PCD.


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## jeff661 (Sep 22, 2017)

Until title is transferred, you are not responsible for the car. If you are insuring the car before you own the car, you are just throwing away money. I agree that “on average people lose money on insurance“. That’s why most people self insure for a $200 printer or car maintenance, but what if you injure or kill someone? If you have assets, you could lose everything.


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## 896558 (Aug 25, 2020)

jvogt1 said:


> So true. A luxury sports car (two-seater in my case) and financial wisdom don't really go together but I've been smiling ever since I made the deal on January 3rd. After a year of Covid I'm ready to do something fun and exciting rather than sitting around the house doing puzzles (although most have been Rt. 66 puzzles featuring muscle cars and western scenes ). As the wife and I are vaccinated, we're ready to get out there beginning with PCD in three weeks.


I totally agree with that entire statement! the car provides a benefit that cannot be measured in dollars.. and thats the joy of having the car and driving it..not everything is about depreciation and devaluing assets.. I could care less about that.. if it was we wouldn't buy or lease expensive cars but we do because they make us happy and its fun! and your joy will start at PCD which is so exciting I am sure anticipating that.. that is going to be great, I am sure BMW does a great job welcoming guests. they did in Munich, the experience was unbelievable.. and I will be doing PCD myself probably end of May to take delivery of my new baby. Please keep us posted on your journey, your plans as you get ready to go and of course pictures! along the way and while you are there and when you take delivery , whatever you can post will be great we would love to see!


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## 896558 (Aug 25, 2020)

polo2883 said:


> I am taking delivery on 3/24 from PCD.


congrats! please keep us posted on your trip! would love to see pictures! and of course of the new baby who is delivered in the 24th! how exciting only about 3 weeks away from now! I have to wait till probably end of May.. my car still didn't get on the boat yet.. or dispatched from factory. yet,.. he is waiting for a spot on the boat.


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## jvogt1 (Aug 29, 2007)

polo2883 said:


> I am taking delivery on 3/24 from PCD.


Missed you by a day. Don't wear out the Z4s during the track portion (although give it your best shot  ) as I'll be looking for one the next day on the 25th! Have fun!


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## 896558 (Aug 25, 2020)

jvogt1 said:


> Missed you by a day. Don't wear out the Z4s during the track portion (although give it your best shot ) as I'll be looking for one the next day on the 25th! Have fun!


looking forward to reports o these 2 PCDs! @jvogt1 , do you still have your 2008 335 coupe you got from Ed that you have in your description? I have a 2009 alpine white coupe that did ED for my 2009 335 on May 27 2009 and looking to do pCD around the same time in 2021.. no cars in between, this will be my first new car ini 12 years when I do mine in may and still driving my E90 and will continue to drive it along with my new car, its such a great car that I would never sell it to give it up so I am keeping it..


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## jvogt1 (Aug 29, 2007)

jeff661 said:


> Until title is transferred, you are not responsible for the car. ...


Without belaboring the point - when is the title transfered? For a PCD the paperwork is finalized and money transfers hands about two weeks out so everything can be processed before the delivery. I'm leasing my vehicle and the actual lease start date is two weeks before the delivery. The lease contract states that I must keep the required insurance on the car so I think legally I'm required to start the insurance the day I return the signed paperwork and check to the dealer (at least within a day or two). For me I'll sleep better knowing I've done my part as the lessee. I'll soon forget about any additional cost as my hair blows in the breeze and the sun shines brightly as I cruise the byways!


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## jvogt1 (Aug 29, 2007)

malieM said:


> looking forward to reports o these 2 PCDs! @jvogt1 , do you still have your 2008 335 coupe you got from Ed that you have in your description? I have a 2009 alpine white coupe that did ED for my 2009 335 on May 27 2009 and looking to do pCD around the same time in 2021.. no cars in between, this will be my first new car ini 12 years when I do mine in may and still driving my E90 and will continue to drive it along with my new car, its such a great car that I would never sell it to give it up so I am keeping it..


No, as much as I enjoyed the May ED / August PCD experience and the mega-drive across the country in 2009 in my 335i coupe, I sold it during the 4th year. I need to put retired next to the car. Our car purchases line up amazingly close. If Covid had not intervened, I would have probably bought my car in 2020 (2008 to 2020 compared to your 2009 to 2021), We even did our ED within a couple of weeks in May (2008 for me).

I'll post some pictures of the car and the PCD. Not long to wait now. The transportation leg has been the hardest part as the car seems to sit around at various stages forever. My trans-Atlantic voyage took an extra six days as the ship had to try and avoid bad weather. Happily that isn't affecting the PCD date, just lessening the time the car sits in Spartanburg waiting for me.


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## jeff661 (Sep 22, 2017)

jvogt1 said:


> Without belaboring the point - when is the title transfered? For a PCD the paperwork is finalized and money transfers hands about two weeks out so everything can be processed before the delivery. I'm leasing my vehicle and the actual lease start date is two weeks before the delivery. The lease contract states that I must keep the required insurance on the car so I think legally I'm required to start the insurance the day I return the signed paperwork and check to the dealer (at least within a day or two). For me I'll sleep better knowing I've done my part as the lessee. I'll soon forget about any additional cost as my hair blows in the breeze and the sun shines brightly as I cruise the byways!


It makes sense that if the day on the lease is two weeks before then that's the day you have to insure it. Are you then paying for 2 weeks in your lease that you don't physically have the car? If you are buying, what's the date on the contract? If you own/lease the car, i would say that you have to insure it. That's not the case with some of the comments here where people were starting insurance when the car was at the port or close to delivery to the dealer. My car has been sitting at the dealership for more than a week. I'm picking it up on Wednesday. I won't insure it until Wednesday when i pick it up.


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## 896558 (Aug 25, 2020)

jeff661 said:


> It makes sense that if the day on the lease is two weeks before then that's the day you have to insure it. Are you then paying for 2 weeks in your lease that you don't physically have the car? If you are buying, what's the date on the contract? If you own/lease the car, i would say that you have to insure it. That's not the case with some of the comments here where people were starting insurance when the car was at the port or close to delivery to the dealer. My car has been sitting at the dealership for more than a week. I'm picking it up on Wednesday. I won't insure it until Wednesday when i pick it up.


I think when I take delivery I guess. I bought my E90 and someone here recommended getting the insurance ahead of time. I suppose it makes sense to start it a day or two ahead of time or like you the day of..best wishes on your new car!! looking forward to pictures!


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## renaeyoungblood39 (10 mo ago)

If I were you, I would make insurance, since you don't know for sure what can happen to you. I am very responsible about this, maybe because I have children, but I can't afford to drive a car with some kind of problem. If you don't know which company is good, I use the service https://www.youi.com.au/car-insurance; you can try this option if you don't have others in mind. Please do not neglect this, as it is very important


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