Young male, luxury car, how to get insurance down?

rev_henry

Is the OP one of the young asian lads who likes to drive pointlessly up and down Rusholme in their BMWs and Mercs every evening?

Try owners clubs, try quotes on cars that are luxobarges but aren't run of the mill luxobarges - Phaeton is a good example.

I recently got a quote on a 730d of £1500 and I'm the same age as you. But I do have 3 years NCD.

scooby75

Did the OP ask "how !!!!ed off are you lot that I'm spending £x on a car when you cannot afford that much"? No. So why then are half the responses based on such a question being asked?

If you are 20 years old and just passed your test, your premiums are going to be sky high no matter what car you buy. The bigger and more powerful car you buy, the less insurers you will find willing to cover you and those who do will charge a ransom. Statistically, the insurers will see your proposal as a recipe for a huge claim. If you are not the main driver, you may be better getting a parent as the main driver, but do not front. Even then, you may still have difficulty. I know there are brokers who advertise as being specialists for young high risk drivers in motoring magazines - you may be better off trying them.

Otherwise, I would suggest getting a couple of years experience behind a more modest vehicle and then move to a larger car.

captainawsome

you dont need all that car if you have only been driving for 2 weeks;,
1) you WILL hit something in it, no matter how good a driver you think you are, there is lots you are going to learn. especially when it snows and your in your RWD BMW.
2) Its your first car, no matter what it is, if its an old shed or an RS4, you will have fun being on the road and you will enjoy the sensation of driving anyway. Possibly even more in an old banger because of the experiances you will have in it.

lastly while your earning decent money put alot of it away, may sound daft but trust me you will be glad you did, i know you dont care but nobody will agree when you try to justify paying 10k for insurance, its stupid and if you ever have to learn the value of money you will soon realise that. Let us know what you decide to do.

scooby75

captainawsome wrote: »

1) you WILL hit something in it, no matter how good a driver you think you are

I know this is a bit off topic, but can you please tell me what clairvoyant or other mystical knowledge informed you of this? I'm sure insurers will also be very interested and will start adjusting their underwriting criteria forthwith.

TrickyWicky

scooby75 wrote: »

I know this is a bit off topic, but can you please tell me what clairvoyant or other mystical knowledge informed you of this? I'm sure insurers will also be very interested and will start adjusting their underwriting criteria forthwith.

They don't need to, they have all sorts of statistical data that proves it.

scooby75

So it's guaranteed that he would have an accident? (the answer's "no"). There may be a statistical probabilility that he is more likely to hit something, but not that he will hit something. Otherwise he'd be completely uninsurable.

KierNet

I've not read the whole thread, but you want to spend £25k on a car, and worried about the insurance cost! Bloody hell!

Why not get a decent car for £10k, sure you can find a nice BMW/Audi for that and insure it as well.

forgotmyname

One on ebay already modified for you.


http://www.ebay.co.uk/itm/bmw-316-w-plate-accident-damage-spares-repair-/120831633184?pt=Automobiles_UK&hash=item1c22206720

rodenal

To be fair it's quite likely that even if he doesn't bump the first car in a big way, it's the time you're most likely to do something silly i.e reverse into something, misjudge a space next to a pole etc etc and pick up nicks and knocks that wouldn't be worthwhile reporting to insurance.

If you like BMW why not get an e46 or even e36, it'll cost you pennies (comparatively) but if you get a good one it'll still look the part - you will be able to use some of the money saved to pay the extra in insurance over something seen to be more mundane.

All I would say is there is absolutely no point in owning a 316 or 318, both are a waste of time and you'd be better off in nearly anything else you can buy for your cash - if you're going to buy one get a 6 cylinder car, 320i would be a good first BMW (I know the latest 3 doesn't have any 6's but not sure if that's been released yet) and I'd be willing to bet the insurance won't be THAT much more compared to the quotes you're getting now.

Don't worry too much about people giving rwd scare stories either, you'll find a rwd car is very well balanced, tend to give plenty of warning unless mid engined, a bit of extra tuition would do wonders - that and cars from the last 10 years or so are actually very hard to crash (relatively speaking)

wba31

my opinion - learn to drive first. why even spend £10k on a car? spend £1000. it will be inevitible as you gain experience you will hit something, gate post, bollard, wall, you will have a scrape. get a cheap car, build up some no claims, then look.
and maybe consider something that is "luxury" but not obvious. I got a 54 plate Honda Accord when I was 24. Insurance was £1800. It was a 2.2 diesel. my mate at the same time bought a BMW 3 series for £5000. his was a 52 plate. Mine was bigger. Quicker. Had the same kit on it. and cheaper on tax and fuel, and my insurance was lower, even though he is a year old than me with an additional years no claims.
to me BMW and Audi are too common to be luxurious or special, so i wouldnt waste my money on them, rather spend less on something that does the same job...