Auto Insurance

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Auto Insurance

Post by CanuckBob on Thu Jun 30, 2011 8:59 am

I plan on buying a Mexican plated car. Probably something around 10 years old. Valued at about 5K. What can I expect to pay for insurance and what other yearly costs are involved with Mexican plated cars?

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Re: Auto Insurance

Post by johninajijic on Mon Jul 04, 2011 1:32 pm

CanuckBob wrote:I plan on buying a Mexican plated car. Probably something around 10 years old. Valued at about 5K. What can I expect to pay for insurance and what other yearly costs are involved with Mexican plated cars?

I doubt this will help much other than the cost to insure is based on cars value. My 13 y/o Ford Explorer is worth about 5 K and US plated. My insurance is about $ 250 US a year from Parker. Mexican plated cars cost more to insure so figure just a little more.

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Re: Auto Insurance

Post by simpsca on Mon Jul 04, 2011 2:07 pm

I am guessing insurance could be approximately 3,000 to 3,500 pesos. I doubt you will have collision coverage on a car that old.

Annual "registration" which is called Tenencia here is approximately 3,500 pesos - it is supposed to be eliminated this year but I doubt that.

You are supposed to get an annual smog test - around 200 to 300 pesos depending on where you go.

Then you have routine maintenance which is a whole lot cheaper here than in US or Canada.

One of the used cars here that never dies is a Nissan Tsuru and you should be able to get one for around that price. I have no idea what gas costs in Canada, but it's cheaper here than in the US right now. However it is going up in price. Price is just over 9.5 pesos per liter for regular.

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Re: Auto Insurance

Post by johninajijic on Mon Jul 04, 2011 2:40 pm

simpsca - Smog tests are required on Mexican Plated cars only.

They have done away with Tenecia on cars over 10 years old.

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Re: Auto Insurance

Post by Intercasa on Mon Jul 04, 2011 5:14 pm

I have 2 companies you can call for low rates in GDL which one insured my nationalized car with full coverage.

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Re: Auto Insurance

Post by CanuckBob on Mon Jul 04, 2011 8:02 pm

I will likely purchase a car older than 10 years.

Are the smog tests required for Mexican plated cars registered at the lake or only those registered within the Guad city limits?

What happens if the car fails the smog test?

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Re: Auto Insurance

Post by simpsca on Mon Jul 04, 2011 9:38 pm

Not sure Bob. Supposedly lakeside is included. I don't know if older cars have less stringent requirements. If it doesn't pass you are supposed to get it fixed so it does pass. There was one shop doing inspections, telling the person they needed repairs which were expensive. One person had the repairs done somewhere else and went back to get the sticker. But the original shop told them it still didn't pass. Don't know what they did or if they went somewhere else. I'm sure Spencer can tell you of a decent place to get the inspection. I use a place in San Antonio - sign on the highway near Walmart and never had any trouble. But never had a Mexican car 10 years old.

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Re: Auto Insurance

Post by Intercasa on Tue Jul 05, 2011 8:30 am

I got my Mx plated car smogged as they gave a discount on the registration if you did and it was only 200 pesos. The last revision of the law I saw didn't include lakeside for a mandatory smog test. I got my test done in Guad as I didn't want to wait and it took 15 minutes.

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Re: Auto Insurance

Post by CanuckBob on Tue Jul 05, 2011 9:57 pm

I would be concerned about buying a car that doesn't pass and then couldn't register or insure it. That's what happens up here in Vancouver. Do they still let you register and insure if it fails?

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Re: Auto Insurance

Post by Intercasa on Tue Jul 05, 2011 10:30 pm

Your car can fail and it is not tied to insurance and the requirement for registration would depend on if you lived in an area requiring the smog check. Either way if it doesn't pass it probably wouldn't be very reliable transportation.

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Re: Auto Insurance

Post by CanuckBob on Tue Jul 05, 2011 10:34 pm

Haha.........I can milk 300,000 kms or more easily out of most vehicles. I have driven many a beater for years that can't pass a smog test. We just register them outside the city limits. I'll bet that van I rented in April would have had a few problems passing.

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Re: Auto Insurance

Post by Hensley on Wed Jul 06, 2011 8:07 am

We have a Nissan X-Trail 2003 Mexican Plated.

Insurance $7800p with Jesus Tejeda
Tenencia $2200p this includes the plates.

2012 there is not suppose to be Tenencia but after the new elections it will probably come back.

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Re: Auto Insurance

Post by Intercasa on Wed Jul 06, 2011 8:25 am

Have you tried ANA Seguros? $7800 seems high, that is what I was quoted for my 2004 Chevy Tahoe Z71 after nationalizing it with full coverage and a current value of $17,000US. ANA was the lowest, we called everybody to check rates. They also gave me the best rate on my car and best coverage.

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Re: Auto Insurance

Post by CanuckBob on Wed Jul 06, 2011 8:24 pm

I'm sure they take desirability by thieves into account. Perhaps the Nissan is high on the list?

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Re: Auto Insurance

Post by Parker on Wed Jul 06, 2011 11:45 pm

CanuckBob wrote:I'm sure they take desirability by thieves into account. Perhaps the Nissan is high on the list?

One of the reasons we kept with the older Lexus. After a few years the status image, no longer exist and you get a really fine used car at the prices others are paying for standard. Actually the older models were built at a higher standard to obtain the status quality and later had to discontinue the quality to be competitive in this down-turned market. Because of their perceived high price the numbers are relatively few, plus their pretty much worthless without their key ($170 USD), not worth stealing compared to other models. Knowledge is priceless. Very Happy

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