Cant get my son a loan or reasonable car insurance!

Macca83_2

I started driving 3 years ago. My initial quotes came out at £2500. My mistake was to go through the comparison sites. I found that once i went to individual sites the cost came down quite considerably. Got my first years insurance at £380

[Deleted User]

martinthebandit wrote: »

the total cost was about £1200, if he wanted to pay it monthly the total cost went up to £1700 :eek:

That's nothing...

When I was renewing my insurance last year, I got this quote...

Iwant2boptimistic

Mfox2012 wrote: »

Hi i work for Aviva and sadly insurance is majorly high for young drivers. Few points to help you out, do not add him to yours as a named driver as this is manual fronting is against the law and will stop payouts in the even of an accident, so no point. Secondly he will earn no NCD at all so therefore waste of time, when he then goes to get a quote in a few years still will be high as he has no NCD.

So to get it cheaper, you can add yourself and husband to his policy as named drivers on his. Reduce his annual mileage where possible. Be prepared to have a black box fitted if you can. Admiral have good prices.
Also you said he has a car, so i dont know if this is possible, however if you could get him a car derived van you would see the premium more than half for him. I know an 18 year old may not want that but its cheap for insurance infact really cheap, do some quotes and you will see. Then after a year or 2 he will have some NCD and be in a much better position. Hope any of this helps you

Is a van even cheaper to insure for 18 year olds? I'm not sure what a car derived van is but one of my nephews mates has a van which I thought was unusual but perhaps that's why as it's cheaper insurance?

ic

arbroath_lass wrote: »

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

While the car itself will have a baring on the price of the insurance, it is no longer the deciding factor. So often you hear people complaining that their insurance costs more than the value of the car. A significant amount of damage can be caused to third parties, regardless of the car you drive when causing the damage. Obviously a car might be a theft risk due to desirability of ease of which the car can be stolen, and a more powerful car implies you'll be more inclined to drive faster, so a greater chance of an accident - but ultimately a significant decider in the cost of the insurance will be the driver's risk profile based on age and experience. Things like the job will help the insurer to provide a view of the kind of person driving.

spacey2012

Any boy racer mobile. Corsa, Saxo, fiesta are the most expensive to insure, they work on car type + age more than groups these days.
All the boy racer small cars flash up as disproportional times as involved in collisions with young drivers and that hikes the risk points up.

izools

Hazzer wrote: »

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:

I don't see the application being approved if it's his first credit card.

If Tesco have offered monthly installments of £200 a month this is likely to be the best he'll get.

Much like car insurance, credit scoring is based on risk. He will probably find it impossible to get prime credit just yet, he will have to build up a credit history on sub-prime cards like Vanquis or Capital One for a couple of years before he's considered prime enough to get a 0% card.

I passed my test at the age of 24 and even then it was £1,100 to insure a Diesel Peugeot 306! Admiral were the cheapest, but they did charge an additional £300 for paying monthly, which was ridiculous, but still cheaper than the next best insurer.

Admiral might be more expensive for him initially but they do provide "Bonus Accelerator" policies which award an NCD every 10 months instead of every 12.

I bought this and now my insurance has more than halved.

Well, it would have if I kept the Peugeot. I have a proper car now!

Crazily enough, it is more to insure my 2.4L Diesel Volvo S60 than it was a three litre petrol BMW 5-Series :eek:

izools

billbennett wrote: »

That's nothing...

When I was renewing my insurance last year, I got this quote...

Bloody nora, what were you insuring? Rowan Atkinson's F1?

tberry6686

Vikipollard wrote: »

It should be based on length of driving history, and what is in that history itself.

That negates all of the diversity umbrella strands and acknowledges that the 30-year old who has just passed their driving test also has no experience of solo driving just the same as the 17-year old does.

It should be compulsory to have the black box for all anyway. I agree that statistically, the under 25 age group may well have a greater number of recorded accidents. However, the business people who drive aggressively up my a*se because they don't think they should have to sit behind someone doing 70mph in a 70mph zone and then race up behind someone else and slam the brakes on again would have to pay proportionately more as well for their pathetic driving 'style'.

Ok lets base it on driving history. new drivers have no history therefore the risk cannot be assessed so cannot be quoted. So no new drivers insurance.

Very few companies take into account being a named driver on someone else's policy so that would severly limit new drivers (and will almost certainly see the policy holders premium ramped up as well).

As far as the black box goes, if it is used for cheaper insurance fair enough, but if it was to be mandatory then no way. The government already get far to much information about people as it is, add knowing when I drive, how I drive, speed I drive, where I go to, how long I stay etc and George Orwell would have been correct with 1984, just a little later.

For people driving like t***s, let the police deal with them (although they don't seem to bother to much about driving standards where I live)

claire16c

Macca83 wrote: »

I started driving 3 years ago. My initial quotes came out at £2500. My mistake was to go through the comparison sites. I found that once i went to individual sites the cost came down quite considerably. Got my first years insurance at £380

I agree.

My insurance with Direct line or Tesco who I tend to alternate between, is always around £300-400. Even when I had had one accident and lost my no claims it was only just over £400.

When I typed it in to comparison websites some were coming up around £1000 or more!

lippy1923

izools wrote: »

I don't see the application being approved if it's his first credit card.

If Tesco have offered monthly installments of £200 a month this is likely to be the best he'll get.

Much like car insurance, credit scoring is based on risk. He will probably find it impossible to get prime credit just yet, he will have to build up a credit history on sub-prime cards like Vanquis or Capital One for a couple of years before he's considered prime enough to get a 0% card.

I passed my test at the age of 24 and even then it was £1,100 to insure a Diesel Peugeot 306! Admiral were the cheapest, but they did charge an additional £300 for paying monthly, which was ridiculous, but still cheaper than the next best insurer.

Admiral might be more expensive for him initially but they do provide "Bonus Accelerator" policies which award an NCD every 10 months instead of every 12.

I bought this and now my insurance has more than halved.

Well, it would have if I kept the Peugeot. I have a proper car now!

Crazily enough, it is more to insure my 2.4L Diesel Volvo S60 than it was a three litre petrol BMW 5-Series :eek:

I think the OP said they had already sorted it out, so I assume that means he was accepted

Theres no way I would accept paying by monthly DD and be charged an extra £300.
If young drivers cannot get accepted for 0% credit cards straight away, try getting your parents to get one in their name for you, and pay them back monthly. If they are willing to do that for you, then its got to be better then coughing up £££'s.