Quote:
Originally Posted by Jaden
Secondly, You can be on your parents insurance if you live with them or are in college until you're 25, so who says he's committing insurance fraud?...
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It may vary by state, but I don't think there is a limit of age for auto insurance, depending on the owner of the car. For example if I own a car but my 28 year-old son drives it, I can insure it, and list him as primary driver.
That said, everyone on here is correct on the "insurance fraud" part of listing someone as a secondary driver just to lower the rate on the car. If the insurance company can determine you are the primary driver of the car they can deny claims.
In fact some companies will not allow you to list someone as secondary driver unless they also have a car where they are listed as primary.
As the father of 3 sons, I've walked this tightrope for over a decade. The insurance costs for my FRS and MomHawk's Mustang is cut in half by having a car where our child was listed as primary driver. Not having a third car but listing them as secondary would have had almost no impact on the insurance costs.
As far as financing, well you can do whatever you want, but @
Cole is right. Financing a $4000 car means you likely can't afford to support a $4000 car which will need care and feeding. But, admittedly I'm biased because I wouldn't finance any car so YMMV.