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

JimmyTheWig

vacheron wrote: »

Adding my wife reduced my premium by 15% even though she has only had a full licence for 3 years and quote "there is no way I'm going to risk driving that thing!' :-)

I'd be careful about this.
If you added her knowing that she's never going to drive the car then that might be just as fraudulent as fronting.

neilmcl

JimmyTheWig wrote: »

I'd be careful about this.
If you added her knowing that she's never going to drive the car then that might be just as fraudulent as fronting.

Are you sure about that?

Gordon_Hose

JimmyTheWig wrote: »

I'd be careful about this.
If you added her knowing that she's never going to drive the car then that might be just as fraudulent as fronting.

No it's not.

JimmyTheWig

neilmcl wrote: »

Are you sure about that?

No, not at all.
That's why I said "might".

But I'm sure that I'd be careful about it, if it was me.

Gordon_Hose

Fronting is getting your Mum or Dad (for example) to insure you car, adding a you as a named driver, and the named driver only ever driving it.

AlexisV

There are only two ways for you to get cheaper insurance: a black box scheme or going as a named driver on your parent's insurance.

Then go on your own insurance when you reach 25 to build up your no claims.

Yes fronting can be fraudulent, but many many many people do it and never have any problems. I'm not condoning it - I'm just telling it how it is.

savemoney

My daughter and her boyfriend got a cheap Matiz last Jan when they recently passed there test and pass plus. They paid jointly 2k for insurance and got a renewal and its £700 less for next year assuming no accident. Insurance is expensive for young drivers because of the perceived risk. Driving a large expensive car will only make that costs even more some insurance companies probably wont want your business so hike the price up even more

gregpot2000

Mate...go for it.

I was 22 last December when I bought my dad’s 3 year old 57 plate. Audi A4 company car from the lease company. People said to me at the time why don’t you put the money towards a house etc?

This car got stolen in June, (barstewds) and I had no hesitation in taking my insurance money (decent pay out) and putting even more money towards it to get an 08 plate new shape A4. And again got all the same questions from my mates.

But I was the same as you, you only live once, I’m still saving for a deposit for a house, but would rather enjoy my money for a couple of years and have a good life style while saving rather than moving out now, and scraping by each month.

I don’t buy into all this you will definitely scrape it etc, as you have just passed, when I was 18 and just passed I couldn’t afford my own car, so drove my dad’s 1 year old top of the range company Mondeo for the first year, and all over the country as well following my football team, and I didn’t have one scrape, in fact after 5 years I still haven’t, the only thing preventing me having maximum no claims is the lovely people that broke into my house while we slept and took my car, and my dad’s new car in June!

TrickyWicky

JimmyTheWig wrote: »

I'd be careful about this.
If you added her knowing that she's never going to drive the car then that might be just as fraudulent as fronting.

Rubbish. There is no obligation on any other named driver to use the car. I have my partner on my insurance for the very same purpose and the insurers were told they will never drive the car. Do you think they were bothered? Not in the slightest.

johnson293

I am a 20 year old male and I want to purchase a "luxury" car. I am currently looking at either an Audi or BMW with the cost being around £25,000 (this is of little concern, please do not give me financial advise, I'm only interested in the question posed and no I won't be going into debt to pay this).

Sorry if this has already been said, but if paying out £25,000 on a luxury car only two weeks after getting your license is of 'little concern' to you, why are you complaining about the cost of the associated insurance?