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AmericanRam

Car you currently drive?

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Looking for a bit of advice here as my eldest lad has just passed his test aged 20
and wants to get his own car.

I'm a completely rubbish Dad when it comes to this stuff as I hate the stress and expense of car ownership and the best thing I ever did was get rid of my car 4 years ago and bought a pushbike instead, so needless to say he doesn't want to hear my advice on the subject! :D

I'm gobsmacked though by the stuff he's telling me - he looked at a £500 15 year old second hand car and the cheapest insurance quote he could find was £1600?! That's with a black box AND with £750 excess. How does anyone afford this?

At what point does insurance start to become affordable? Bear in mind that my last insurance premium was £250 before I ditched my car.

Is he better off looking at newer cars? A 15 year old banger is inevitably going to die quite soon and not be worth fixing up

 

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1 minute ago, Mostyn6 said:

you're better off getting the car in your name, and have him as a named driver who collects his own no-claims.

You can't be suggesting that - as it is illegal :D

http://www.moneysupermarket.com/c/news/why-fronting-for-your-child-could-cost-you-dear/0036917/

Makes me laugh "the insurance companies take a dim view of it"...because after all ripping people off is THEIR job not yours!

The article does suggest that adding myself as an extra named driver can bring the policy price down (and is legal) so I'll have a look into that

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Car insurers still see anyone under the age of 25 as a 'young driver' - read reckless boy racer.

I'm 23, no claims/accidents in 5yrs, and still paying over £500 for insurance. 

Stick yourself on the policy, but if your lad is doing more miles in it, he has to be the main driver. At that age, insurance companies will mostly look at what your car is, rather than what's under the bonnet. Cars like Clios/Corsas/Fiestas are in more accidents, so are more expensive to insure. My insurance is cheaper while driving my current car (an '02 1.8 Toyota Corolla Verso, or dadwagon as its come to be known) than an older 1.2 Corsa.

You are indeed correct @LesterRam, my insurance includes 9% IPT. Cheers Mr Osbourne, you ar*e.

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35 minutes ago, Mostyn6 said:

just had to shell out best part of £900 after the turbo went on my BMW E46 320d.

I love the car, so had to shell out. Feel a bit gutted now though! 

Lucky the turbo didn't take out your engine.

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