Cant get my son a loan or reasonable car insurance!

dealer_wins

Its the result of your son being high risk, and the fact that 99.9% of car accident passengers get whiplash these days!!

poppasmurf_bewdley

This is the norm for young drivers these days. Very different to the £36 I paid for my first fully comprehensive policy of my Ford Anglia - but even that was nearly four weeks wages back in 1966!

Get a quote for him but add yourself and possibly his mother on the policy as additional drivers. This should bring the price down quite substantially. It's what I did for my son.

Good luck!

Bravehearted_2

And next year's insurance? Another loan?

guesswho2000

£2k for insurance?! I thought mine was bad when I was 17 at nearly £900. That was nearly ten years ago I suppose.

In terms of the OPs situation, can you not pay monthly? Won't make it any cheaper (in fact it'll probably cost more) but at least the payments would be spread.

EDIT: looks like that avenue was already explored, I didn't read it properly!

[Deleted User]

OP why did he get a car before finding out about the insurance?
under 25s pay more for insurance because they are a higher risk
he should sell the car and use taxis probably far cheaper

lippy1923

It's a hell of a lot to pay. Especially when I read somewhere that the majority of a cars life (90%+) is spent parked up. Sitting on a drive over night, in car park during the day.... makes you wonder if its worth it lol

Clive_Woody

Hazzer wrote: »

Hi Martin and thanks for a great site. I have used your site before but this is the first forum post so please bear with me! My son is 18 passed his test a few weeks ago got a car and now its a nightmare getting insurance! He is an engineering apprentice through a Nuclear partnership, has been banking with Lloyds TSB since he was quite young but they wont give him a £2,000 loan over 12 months to pay his insurance outright as they say he needs to be with them as an adult for a period until they decide if he can have one or not?! We have had insurance quotes of 2 up to 4 thousand pounds with a lot added on for direct debit and it is frankly I feel daylight robbery! I support fully the need to eradicate death and injury on the roads but this is not, I feelsolely all young people, and that there are just as many other age groups who drive badly?! It seems wrong to punish all young people for other peoples crimes and only serves to make it hard for young people to get started on the no claims pathway. Tescos were the cheapest quote but its still £200.00 a month. Any suggestions Martin please? Many thanks Harry Brannigan.:money:

With no credit history, even if by some miracle he could get a loan most likely the APR would be higher than the equivalent of paying for the insurance in installments.

Try posting this question on the insurance message board on here somebody may be able to help get the price down.

27col

It doesn't sound as if he did much in the way of advance research into the costs of motoring for a young driver. If he had, the cost would have become apparent far earlier than they have and there would not now be desperate search for a solution to the problem.

Clive_Woody

Just a thought, you said he had got a car already. Whose insurance is it covered by at the moment?

martinthebandit

When my 22 year old son was trying to insure his and his wife's car on an admiral multi car policy the total cost was about £1200, if he wanted to pay it monthly the total cost went up to £1700 :eek:

So I think a bank loan would work out cheaper.