Money Saving car advice for under 25's?

Kilty_2

OP - £489 with a licence for 2 years is pretty good - you've already saved a bit in your first year (£620 is half what I paid for my first year's insurance and it's a fifth of what some people pay)

You might find that a newer car in the same insurance group is slightly cheaper though - I'm currently insuring a 2007 Vauxhall Astra 1.6 for £689 whereas quote on my 2003 Nissan Almera 1.5 were more than this for this year - even though it's group 5 vs 6 and worth £2000 vs £6000.

charlea wrote: »

consider doing the pass plus tht will bring down your premiums by around 30 percent

Not always - it doesn't bring my premium down by a single penny at the cheapest insurers for my profile and the ones it does give a discount at are a LOT more than 30% more expensive.

charlea wrote: »

Or look at young marmalade they offer deals which include a new car and insurance for drivers under 25 ( you have to have the pass plus) and there are restrictions and stuff but its worth giving them a call

based on someone who is 21 and live in london the cost for a
PEUGEOT 207 HATCHBACK, 1.4 VTi Sport [95] 3dr
deposit
£1,268.09
Followed by 60 monthly payments of 239
Please note:-
A credit arrangement fee of £145.00 will be added to the first monthly payment



if you wanted to own a mini copper with pepper pack 1.4 then its 319 over 4 years - and this included insurance for the whole of the time
that you are buying it plus minis have great reasale value


if you wanted a car that was second hand then a PEUGEOT 207 HATCHBACK, 1.4 Sport 5dr 2008-08 Plate would be £191.95 a month including insurance of 5 years and you would own it at the end of the period

hope this helps

Don't Young Marmalade only include the FIRST year's insurance in the HP agreement? (which, by the way, is pretty bloody expensive)

Kilty_2

Kilty wrote: »

Don't Young Marmalade only include the FIRST year's insurance in the HP agreement? (which, by the way, is pretty bloody expensive)

Yes, I was right :rotfl:

VAUXHALL CORSA HATCHBACK, 1.2i 16V [85] SXi 3dr

Total£10,635.44


£200.61 per month with a £1063.54 deposit

First year's insurance - £312.00
Spread over the term - £6.54 per month

So, that's £10,635 for a car Peter Vardy are selling for £8499 financed over five years (total repayable £13245.14 without insurance) and whilst you get a discount on the first year's insurance and then add that on to the agreement, it's a pretty shocking deal.

Lol, hire car spec 1.4 Astras for full list price too :rotfl:

goldspanners

anewman wrote: »

3 years on, 3 years no claims, 29 years old, I am now looking at approx £500 for an 02 Skoda Fabia 1.4.

have you been treating yoiurself?

Inactive

goldspanners wrote: »

have you been treating yoiurself?

Good question, we need to know.;)

charlea

my stepson was quoted over 2k on a ford KA with some of the main stream insures ( but then again he is a boy and only 18)but he did get a lot lower quote with YM even if he cant drive it after 11pm at night

car leasing works for me just depends on what you want and obvioulsy getting the best deal I like leasing cars even if its cost me more money overall and the car is not mine as i get a new car every 2/3 years depending on the terms of the lease
When i was buying one a few years ago i had nothing but trouble with it from day one and lost heart In paying for a car that was a total lemon and in the end it got written off in a fire. i lost a lot of money and buy the time the finance was settled and my excess was paid i was left with less than 1500 not enough to get back to the same sort of car without saving a lot more for a deposit so thats why i started leasing cars as i dont want the hassle of any mechanical problems

Kilty wrote: »

Yes, I was right :rotfl:



So, that's £10,635 for a car Peter Vardy are selling for £8499 financed over five years (total repayable £13245.14 without insurance) and whilst you get a discount on the first year's insurance and then add that on to the agreement, it's a pretty shocking deal.

Lol, hire car spec 1.4 Astras for full list price too :rotfl:

Kilty_2

charlea wrote: »

my stepson was quoted over 2k on a ford KA with some of the main stream insures ( but then again he is a boy and only 18)but he did get a lot lower quote with YM even if he cant drive it after 11pm at night

Do they enforce that if you buy a car from them and insure it through them too?

So not only do they charge you a ridiculous amount for buying and financing a car they impose daft restrictions on their insurance as well?

flyingscotno1

The OP should be glad she is not male lol! Then insurance is something to complain about.

Insurance of that price isn't bad to me. To me the OP would be better looking at replacing a car she is throwing money at with a sensible used car that doesn't stretch her budget- something 1.1, 1.2, but reliable (even if they are not sexy or cool- ie Skoda Fabia, Toyota Yaris) and savings would hopefully be made in repairs and maintenance. Problem with buying a 206 is that it is French and will have wee niggles.

anewman

goldspanners wrote: »

have you been treating yoiurself?

Well the Favorit sadly needed welding at last MOT on the inner wings. Could probably have kept patching it up each year but didn't fancy it. The car was passed on to me free instead of being scrapped anyway, was a great first car. My sister was after a new car and had an 02 Fabia. She asked a few dealers about trade in value and all said under £2k, so it seemed reasonable to thank the Government for their contribution in return for my Favorit instead.

jadeyfamous

rev_henry wrote: »

Tbh, a 206 1.6 is quite a powerful car for a new driver, you can't really say its 'only' a 1.6 206, hence the higher insurance. Aside from whatever you had to put it through the MOT, those other things you mention just sound like routine maintenance on an older car I'm afraid. You surely knew the MOT was coming up when you bought it? You're quite lucky you haven't had electrical faults which are common on French cars. And I'm sorry but your insurance at £489 seems reasonable to me.

Motoring isn't cheap. No offence but you don't sound like you know a lot about cars, so you're probably a prime target for being ripped off by garages. Next time something needs doing ask on here first if they quote's reasonable. There are people here in the motor repair trade who know.

you'd be surprised how much i know, for my first car it would have never been my car of choice. im savvy with cars. The car was bought for me so not exactly nice to turn it down is it. so please do not patronize me darling.

goldspanners

anewman wrote: »

Well the Favorit sadly needed welding at last MOT on the inner wings. Could probably have kept patching it up each year but didn't fancy it. The car was passed on to me free instead of being scrapped anyway, was a great first car. My sister was after a new car and had an 02 Fabia. She asked a few dealers about trade in value and all said under £2k, so it seemed reasonable to thank the Government for their contribution in return for my Favorit instead.

brilliant. so effectively you've got yourself another free car.:T