Bought a car, didn't realize insurance costs were so excessive. Advice?

darronk

Hi. Title says it all really. I bought a car on a PCP deal from Suzuki, for a new model Suzuki swift, mid way through last year. At the time it seemed like a good deal, and due to the fact it hadn't yet been registered, I couldn't get really accurate insurance costs.

My insurance costs on this are absolutely rocketing at the moment. Everything the salesman has told me is a load of rubbish (I was clearly told at the time that the insurance would cost no more than my existing car, yada yada yada) even though it turns out it's actually a group 35! I did do the shopping around for insurance thing, but I couldn't get anything that accurate at the time.

I'll get an accurate settle figure in the morning, but it's still got an outstanding balance of £14500.

What would your advice be in this situation? If I sell privately then I'd be looking at £10500 max roughly.

Advice?

John_G_Jones

The Swift is a pretty low grouping car, suggesting that there’s something about you if your costs are going up. Have you tried looking on the comparison sites to find out if you can get cheaper cover elsewhere?

Your point about not being able to check before you bought makes no sense, you could have got quotes for the exact model without your particular car being registered. I always call up my insurers and ask about whether they will cover my next car before I switch, and how much it will be, and the price has always been honoured if I do go ahead and change vehicles.

I know it’s too late for you this time round, but please bear it in mind in the future.

In a similar vein, you have spent a lot of money on a pretty basic car. An awful lot of money. You could get a nearly new one for under £10,000 which would still have the warranty.

Anyway, as for this time around, how much more per year is your insurance than on your last car, and is it really going to save you money to switch and buy another car rather than accept that you are paying a bit more? Insurers tend to increase the premium when a car is new to you, so any replacement may still cost you more than you want to cover.

JamoLew

Which model is it ?

Highest insurance group I can see for a Swift is 27

marlot

https://www.carbuyer.co.uk/reviews/suzuki/swift/hatchback/mpg



"The latest Swift’s insurance groups span from 22 if you buy the 1.2-litre SZ3 model, to 25 for the SZ-T Boosterjet and 27 for the SZ5 Boosterjet. Choose the 1.2-litre SHVS mild hybrid and it slots into group 23, while the Boosterjet with SHVS is in group 27 out of 50. These are surprisingly high for an affordable supermini, and could rule out the Swift for younger drivers, whilst making it expensive to insure versus its rivals. Skoda Fabia insurance groups range from two up to 12, while a Peugeot 208 GT Line Pure Tech is in group 15 and a MINI Cooper is in group 18."

Goudy

I checked out the new Suzuki Swift Sport when it was launched and was quite shocked at the insurance quotes I was getting for one, particularly when it's only really a warm hatch with 140 bhp and I've 20+ years NCB and a clean license.

I believe the Swift Sport model is group 35, which is a lot higher than cars like the VW Polo GTi and Fiesta ST200 which nudge the 200bhp mark and are group 28.

Dean000000

Goudy wrote: »

I checked out the new Suzuki Swift Sport when it was launched and was quite shocked at the insurance quotes I was getting for one, particularly when it's only really a warm hatch with 140 bhp and I've 20+ years NCB and a clean license.

I believe the Swift Sport model is group 35, which is a lot higher than cars like the VW Polo GTi and Fiesta ST200 which nudge the 200bhp mark and are group 28.

But....but....how did you do this without knowing the car registration?

See op, that’s how you do it.:money:

foxy-stoat

Still scratching my head;

How would a car salesperson know how much your current insurance costs and what the new premium would be? I would of paid zero attention to that.

No way you would of been able to get insurance cover on the car without the insurance company quoting you a premium. No way they would be able to do that without the vehicle details.

If you bought the car June/July 2018 how is your car insurance now be rocketing? Are you a young driver with a black box and your premiums are increasing by the way you are driving?

neilmcl

This has got to be one of the lamest excuses for trying to get out of a PCP.

I also don't get how your insurance is "rocketing" when you bought the car middle of last year. It's only February, surely you're nowhere near insurance renewal yet.

Is there more to this than you're telling us?

bigisi

darronk wrote: »

Hi. Title says it all really.

No it doesn’t. Because this:

Darron wrote: »

My insurance costs on this are absolutely rocketing at the moment.

Makes no sense whatsoever. How are they rocketing, insurance is for the year and doesn’t go up midterm normally so what do you mean?

Darron wrote: »

I'll get an accurate settle figure in the morning, but it's still got an outstanding balance of £14500.

What would your advice be in this situation? If I sell privately then I'd be looking at £10500 max roughly.

Advice?

Advice would be not to take a £4k hit to save a few hundred in insurance fees.

Browntoa

Part of research

Look at cars

Check how much to insure

Make decisions

Pension_Geek

bigisi wrote: »

No it doesn’t. Because this:



Makes no sense whatsoever. How are they rocketing, insurance is for the year and doesn’t go up midterm normally so what do you mean?




Advice would be not to take a £4k hit to save a few hundred in insurance fees.

Indeed, you only bring your insurance costs down by having it and generally speaking, not using it.

If you are on a black box, you are clearly driving in a manner that's unsuitable.