Regardless of what the new car is the industry term is non owner car insurance but they’d need to sell you a policy for 6mo I believe. your local insurance agent will be able to explain what your options are.
I am guessing that you are waiting for that new Honda Prelude hybrid.
As far as renting and insurance: I would talk to the agent(s) involved in the insuring of both your old and new car. They have motivation to help.
I share your sentiment
@Honda2076 may want to consider being polite and informing us what their new car will be
You were lucky to be able to do that - $40,000+?
I never had more than $2,000 in my savings or checking at any time during my working life
First of all, renting a car for several months is likely to cost a few thousand dollars. You could probably get your current car fixed for less than that, and then have a functioning vehicle to drive while you wait for the new one. It would also then be more valuable if sold or donated.
Second, the only time it makes sense to wait for a new vehicle to be delivered is if you are having it built with the specific options you want. Otherwise, it just doesn’t make sense to wait, as opposed to just buying something that’s already on a dealer’s lot.
Last year, it was possible to buy a new 2025 Camry LE for a little above $30k out the door, including taxes and all that stuff
An SE costs a little more
XLE and XSE cost considerably more
AWD adds more again
I think you can even get plug-in Camry
So if you get the top trim line with all tge options, it could hit your wallet hard
But I got the base LE
No options
Paid cash
If you do decide to rent a car from one of the established car rental companies rather than a “rent a wreck,” use your cell phone and make a video while doing a slow walk around the rental several times starting high (the roof area) and continue all the way around several times… I would even video tape it going the other way around too… Do it outside in the sun light, not in a dark garage. Do it while still on the lot, not later after you’ve had it awhile… If you get a rent a wreck, do it on that one too…
Car rental companies frequently charge for damages or extra fees that your third-party or credit card insurance may refuse to pay. These uncovered claims typically include the following:
Administrative and Processing Fees – Rental companies charge paperwork or claim-handling fees (e.g., $50 to $150). Many standard credit card or auto policies explicitly exclude these fees.
Loss of Use – Rental agencies charge daily rates for the profit they lose while the car sits in a repair shop. Third-party liability insurance rarely covers this, and many basic credit cards will only cover it if physical damage also occurred.
Diminished Value – This is the drop in the car’s resale value after it is involved in an accident. Many standard insurance policies do not cover diminished value.
Minor Scratches – Many policies have a deductible or only cover major damage. If the rental company bills you for a minor dent or scratch, your insurance may not pay for it.
And there are so much more they cans do or say…
“Caveat Conductor…” a twist on the Latin phrase (Let the renter beware…)
+1
When I was car-shopping ~4 years ago, all of the Lexus dealers that I visited in NJ stated that the wait time for my desired vehicle would be anywhere from 3 months to 9 months. When I questioned this claim, they all explained that they kept none of that model in stock, and that the ones currently “in transit” had all been spoken for, with deposits. That, plus their demand for $5k “ADP”, led me to a PA dealership where I had been told that no “ADP” was added to the sticker price,
When I arrived at that PA dealership, I learned that they also had none of my desired model in stock, but that 3 of them were in transit, and it turned-out that one of them was my desired color. The sales manager also seemed to be mystified that they were being sent those 3 vehicles because they had never yet sold even one of that model, and they hadn’t placed an order for any. It appeared that a very different demographic in that part of PA was the reason for virtually no demand for a PHEV in that area.
So, I returned there in a few days with a check for my deposit, and to have my trade-in evaluated. In addition to not having to pay that ridiculous $5k ADP, they offered me far more for my trade-in than the NJ dealerships had offered.
Anyway, about 4 weeks after placing my deposit, I drove 70 miles to that PA dealership to pick up my new PHEV, and in the process I wound-up paying almost $7k less than the local thieving dealerships wanted to charge.
Just remember that just because someone paid cash for something big doesn’t mean that they saved that much money overtime in their checking or savings account, some people invest money every paycheck and after many years are able to pull invested money out to pay for things needed/wanted, or they could have sold some property and even down sized after they kids are grown and moved out, or inherited some money or for years paid themselves a car payment and drove older cars until saved enough for a new one, or flipped cars (buy one needing work and sell for a profit) and reinvesting that money in buying a newer vehicle to flip until they make enough to pay cash for a new car, or, or, or…
Now I don’t know how DB had enough cash and it is nobody’s business, but I am sure part of it was from working hard and living below his means and being smart with his money…
BTW I worked with a guy that started with $1000 vehicles and fixed them up a little and sold for a profit and did it all the way up till he was able to buy new HellCats and would do a few mods and sell for a profit, last I worked with him he had a few HC’s… But you have to find good deals and have the cash to buy right now…
@davesmopar thank you
When I was a kid, back in the '50s, a teenager up the street used to buy rolling wrecks, fix them up, and sell them for a decent profit. He had a good business going for several years, until he went away to college. His business helped to finance his college education.
I’ve rented HUNDREDS of cars over the years on business trips. and NEVER got the insurance. You should be covered under you own insurance or even the credit card you use to rent the car with.
Yes, but it’s important to check with your agent, or the ins. company’s Customer Service people.
This would mean maintaining the insurance policy on the car that was sold months before taking delivery of the new car.
Well we’ve strayed a little from the subject at hand. Everybody has their story. At 17 I had $1500 saved for college. First semester cost me $1000. I had a good banker though. My room mate had a trust fund. Guys across the hall had family backing. I always invested every pay day for 40 years and now could buy anything I want and owe nothing. I just dont want anything. The new cars out there are just not very appealing to me. They all look the same and are over priced. I would have bought a few years ago but they down sized to 4 cyl and turbos to what end? I blame EPA. They and bad management took all the fun out of buying a new car. We’ve had this discussion before.
Back to insurance. My policy covers any car I drive for 30 days. After that on a long term rental, you may need to change something or keep your old car. A credit card can help pay for damage but may not cover everything as said before. But you must cover yourself with liability and should have an umbrella policy which will require maintaining your current auto policy. A bad accident can cost millions and no policy means no free lawyers on your side. Don’t be stupid and worry so much about a couple hundred extra for insurance on your current car. Talk to your agent but liability is more important than broken glass coverage.