Smart SpendingSmart Spending

When teen drivers go crazy

Police in Canada impounded a number of extremely expensive supercars after a street-racing incident.

By MSN Money Partner Sep 6, 2011 2:06PM

This post comes Des Toups at partner site CarInsurance.com.

 

British Columbia Mounties last week arrested 13 young drivers for street racing and impounded their rides -- supercars together worth north of $2 million.

 

We admit it: We smiled a tiny bit.

 

The drivers -- 12 males and one female, all age 21 or younger -- reportedly exceeded 120 mph on Vancouver's busy Highway 99. Witnesses said the group blocked lanes to clear a path, allowing the rest to race ahead.

 

Vehicles ranged from the $326,000 Ferrari 599 to a $183,000 gullwing-doored Mercedes-Benz SLS to the comparatively plebian $89,950 Nissan GT-R. Mounties also seized three Lamborghini Gallardos, each of which has a claimed top speed of 202 mph.

 

Six of the drivers involved still had "N" licenses marking them as novice drivers under the province's graduated licensing system, police said.

 

If your peevishness meter isn't already pegged, consider this: Police lacked video or radar evidence necessary for a charge more serious than "driving without due consideration for others." All of the cars were impounded for a week, and the drivers fined about $200.

 

Perhaps the only consolation for those of us who lack the funds to provide supercars to our children is that all but one of the cars was registered to someone other than the driver involved.

 

And the next insurance bill will be a whopper.

 

Obviously, U.S. insurance regulations differ quite a bit, but we ran some numbers to get an idea of what happens when your kid goes street racing.

 

A Seattle 20-year-old with a clean record driving a Nissan GT-R would be offered insurance quotes from $2,950 to $3,630 a year. We found only one insurer willing to take a chance on that same driver with a reckless-driving conviction on his record. The bill: $5,746. A Mercedes SLS? That's $1,564 to $3,878 with no violations -- and as much as $6,052 with a street-racing conviction.

 

Our inner disciplinarian cheers.

 

More on CarInsurance.com and MSN Money:

2Comments
Jan 9, 2013 10:46AM
Sep 6, 2011 3:44PM
avatar
Full coverage on my motorcycle is 3,000 a year...and my ticket for going 107 in a 75 was like $500. Must be nice to live in Canada! I can only afford liability :D
Report
Please help us to maintain a healthy and vibrant community by reporting any illegal or inappropriate behavior. If you believe a message violates theCode of Conductplease use this form to notify the moderators. They will investigate your report and take appropriate action. If necessary, they report all illegal activity to the proper authorities.
Categories
100 character limit
Are you sure you want to delete this comment?

DATA PROVIDERS

Copyright © 2014 Microsoft. All rights reserved.

Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.

ABOUT SMART SPENDING

Smart Spending brings you the best money-saving tips from MSN Money and the rest of the Web. Join the conversation on Facebook and follow us on Twitter.

VIDEO ON MSN MONEY

TOOLS

More