Dro and car insurance

lisa271_2

Hi my dro ended on June this year.im aware that it stays on my record for another 5 years but have a couple of questions about a new car and insurance I'm hoping someone can answer
Am I still only allowed a car worth £1000?
Will I have problems getting car insurance in instalments.when I actually had the dro I just carried on with the new insurance quote but now I'm thinking of getting a new car(approx £2000) and would like to shop around for insurance quotes but really cant afford to pay it yearly.
Many thanks

sourcrates

If your DRO has ended, then you were released from all restrictions on the date that it ended.

I never had any trouble paying car insurance monthly, its a legal requirement to have insurance, so less emphasis is placed on your credit file, than say for other types of borrowing.

Its more of an identity check they do on you, to make sure you are, who you say you are.

MalMonroe

The problem with paying monthly, aside from the fact that it does cost a bit more is that it's considered a loan by the insurance company.

I've also had a DRO in the past and kept a car running before, during and after the six year period but I always try to pay the annual sum because I don't want to have any loans at all. Not even car insurance.

I'm currently looking round for a new car and have been quoted an annual insurance policy of £167 for a 62 reg plate Citroen C1 via compare the market and I think it's really good but that's just my initial search. 

If you shop around you could find a really good price. It's worth it. 

sourcrates

MalMonroe said:

The problem with paying monthly, aside from the fact that it does cost a bit more is that it's considered a loan by the insurance company.

I've also had a DRO in the past and kept a car running before, during and after the six year period but I always try to pay the annual sum because I don't want to have any loans at all. Not even car insurance.

I'm currently looking round for a new car and have been quoted an annual insurance policy of £167 for a 62 reg plate Citroen C1 via compare the market and I think it's really good but that's just my initial search. 

If you shop around you could find a really good price. It's worth it. 

I use a broker, who take a very small fee, £6 I think it is a year, but I am a platinum customer, so get a range of benefits, not only do I receive the (genuine) cheapest quote, I can also pay monthly, interest free, get a free courtesy car, and breakdown cover, plus legal assistance, all for no extra cost, they also protect your no claims bonus too, again for free, so I find that to be a cracking deal.

I shop around at every renewal, but cannot find a deal to beat the one I've got.