Cant get my son a loan or reasonable car insurance!

Hazzer

Clive_Woody wrote: »

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.

Many thanks its nice to read a constructive reply. Kind Regards Hazzer.:j

Hazzer

He has just bought the car Clive but all the quotes are very high even after much researching we are at this point still. Kind Regards Hazzer.;)

chanz4

what car has he got?

arbroath_lass

Sell it and buy a cheaper car that is also cheaper to insure?

Can't believe he bought a car without getting an insurance quote first.

How did he get it home without insurance? Is it SORNed just now?

ETA Martin's tips are here : http://www.moneysavingexpert.com/insurance/car-insurance-young-drivers

chanz4

my moneys on corsa

paye

Buzby wrote: »

If you have a motor policy, add him as a named driver to yours, as this will help him get a foot in the door. This won't help him insure his car (when he gets it) and I'm not suggesting you 'front' for him, simply ease the path as your insurer may be happy to treat his use of yours as counting to his NCD.

As Buzby said, add him a named driver to yours.
My wife who 28 passed her test about 6 months ago and her insurance was comming up over the £1k mark, so i ended up taking out the insurance in my name which cost aroung £350 and put her down as a second driver, which cost another £50-60 quid so she can drive it, and this was for 1.4l yaris.

Sparx

paye wrote: »

As Buzby said, add him a named driver to yours.
My wife who 28 passed her test about 6 months ago and her insurance was comming up over the £1k mark, so i ended up taking out the insurance in my name which cost aroung £350 and put her down as a second driver, which cost another £50-60 quid so she can drive it, and this was for 1.4l yaris.

If you are not the main driver of the car then that is called insurance fronting and fraud.. I really wouldn't recommend it.

Although ignore me if it is your car and you drive it the majority of the time. But the wording of your post makes it seem otherwise.

rob404uk

hi, I am 30 and passed my test in October, got an old seat Ibiza and even at 30 it cost me 1950 to ensure 3rd party. I would get the insurance and add no claims. it will not get much cheaper when he is older, although as he will hopefully earn more it will seem more affordable

Hazzer

Thanks to all the helpful and constructive objective responses re my sons dilemma. We have successfully sorted the dilemma and I think it was Lippy1923 who suggested a 0% credit card? Thanks Lippy he has now done that. To err is human and youth must have its fling! Thank you so much.:j Kind Regards Hazzer.:beer:

Tixy

Hazzer - Its worth reminding him (probably more than once at his age:)) that he needs to be saving for next year's insurance each month, at the same time as paying off the credit card with this years insurance.
Maybe you could encourage him to put away say £150 a month so that he doesn't have to borrow money each year to be able to afford to run his car.