I have a 2023 Elantra, and I love it. My insurance policy was $280 per month for the first six months, which was manageable. Now, they want $450, and other companies are quoting over $600. These amounts are higher than my car payment. I have one speeding ticket, and I’ll be 25 in four months. I’ve been driving since I was 16. I don’t want to give up my car, but keeping it feels financially impossible.
It’s ridiculous how insurance companies justify their rates. Hyundai and Kia aren’t even in the top ten most stolen cars in the USA. If you trade in your car, you might be upside down a bit.
Robert said:
It’s ridiculous how insurance companies justify their rates. Hyundai and Kia aren’t even in the top ten most stolen cars in the USA. If you trade in your car, you might be upside down a bit.
Mine isn’t even capable of the USB trick. It’s frustrating. I’d be out $3K on a trade-in, which isn’t terrible, but I’ve wanted this car for years.
@BlueCarEnthusiast
I love how an Elantra is your dream car. Glad you’re happy with it.
Lenox said:
@BlueCarEnthusiast
I love how an Elantra is your dream car. Glad you’re happy with it.
Elantra is a great sedan for its price range. People questioned my choice when I upgraded from a 2017 to a 2023, but after a test drive, they understood. The dual 10.5-inch display and 201-horsepower engine are solid.
Lenox said:
@BlueCarEnthusiast
I love how an Elantra is your dream car. Glad you’re happy with it.
It was the cheapest option when my free 2006 Accord was flooded. My bank only approved one new car, and it was the one I’d been eyeing for years. The design, tech, and family history with Hyundai won me over.
@BlueCarEnthusiast
Call your insurance agent and ask if your rate will drop when you turn 25. You might also be able to adjust coverage to lower costs.
@BlueCarEnthusiast
Shop around for insurance. Some companies require proof of push-button start or steering wheel locks, while others just rely on outdated theft data.
HyundaiAnn said:
@BlueCarEnthusiast
Shop around for insurance. Some companies require proof of push-button start or steering wheel locks, while others just rely on outdated theft data.
Insurance companies just follow the media narrative about stolen cars without updating their risk assessments.
@Megan
Some companies are adjusting, but others are slow to update their policies.
@BlueCarEnthusiast
It’s not just Hyundai theft rates. Your age and the fact that it’s a new car contribute to the high insurance costs. Speeding tickets usually fall off after five years, and being male also raises your rate.
Tuition waivers are another option. They don’t always cover fees or books, but they can help.
jazirah said:
Tuition waivers are another option. They don’t always cover fees or books, but they can help.
If you’re in community college, maintaining a 3.5+ GPA can get you into Phi Theta Kappa, which offers scholarships.
My insurance is $760 per month with one at-fault accident on record (previous vehicle). I’m 21, and my monthly payment is $780, making my total car expenses $1,540 per month. Insurance for Hyundais is absurd right now.
@klausmark1
That’s a terrible financial situation. You should consider a used car with liability insurance or even a scooter to save money.
@klausmark1
$760 per month is crazy. Find another insurance company immediately.
I found this on Hyundai’s website: Hyundai Motor Finance
Nadia said:
I found this on Hyundai’s website: Hyundai Motor Finance
A commercial for this came on right as I opened your comment. I’ll definitely look into it.
It’s not just about the car; it’s your age and driving record. I’m paying $122 per month for a new Sonata in a high-crime city, but I’m older and have no tickets. Insurance should get cheaper after you turn 25.
@Masitsa
My birthday is right before my policy renews, so I hope to see a drop in my rate. I also have a short credit history, which might be a factor.