dann2707 Posted July 27, 2012 Report Share Posted July 27, 2012 Just done a quote for me with 2 years no claims. £1154 annual premium if I were to pay it off in one lump sum. Which is pretty good to say its a 1.8 engine, 115 bhp motor. And i'm 20. However I don't have that much, as anyone my age wouldn't really. So to pay it monthly it goes up to a TASTY £1605 !! with installments of around £135 or something. Extra £500 to pay it off in monthly installments, which I think is a bit of a joke! Any tips? Or anyone else wish to rant. Didn't wana stick it in the car thread. x Quote Link to comment Share on other sites More sharing options...
george_seamons Posted July 27, 2012 Report Share Posted July 27, 2012 Put it on a 0% credit card and pay it off over the year? Quote Link to comment Share on other sites More sharing options...
dann2707 Posted July 27, 2012 Author Report Share Posted July 27, 2012 My credit card only goes to £500 Quote Link to comment Share on other sites More sharing options...
Muel Posted July 27, 2012 Report Share Posted July 27, 2012 Bank of Mum offers good rate I hear? Quote Link to comment Share on other sites More sharing options...
dann2707 Posted July 27, 2012 Author Report Share Posted July 27, 2012 DAds offered to pay for deposit, thats whole point of this. Quote Link to comment Share on other sites More sharing options...
BradJohnson Posted July 27, 2012 Report Share Posted July 27, 2012 Could be worse.. I got quoted £11,000 on a 1.0L Yaris. Cheapest i can get it on my mam and dad's policy. and even that is £3,300. No driving for me anytime soon. Quote Link to comment Share on other sites More sharing options...
Prawny Baby Posted July 27, 2012 Report Share Posted July 27, 2012 So glad I tagged onto the back of the previous generation in terms of insurance! first year in the Mini was £450, went up to £990 after a crash in the first year, then back down to £600. First year in the audi aged 19 was £1500, and that dropped straight to £900 when I was 20, most I ever paid was £1600 for an M3 at 21. Bad luck mate, those prices sound very high to me. Dodgy post code perhaps? Quote Link to comment Share on other sites More sharing options...
Tomm Posted July 27, 2012 Report Share Posted July 27, 2012 Can you get another credit card? That would be the best plan. That amount extra, just so you can pay in instalments is crazy. Quote Link to comment Share on other sites More sharing options...
Pashley26 Posted July 27, 2012 Report Share Posted July 27, 2012 (edited) If you can't afford to pay it, you can't afford to drive your car and need to get something smaller and cheaper to insure. Simples. *edit, actually that's not even that expensive? What are you complaining about, that's not bad at all! I'm only a year older than you and you know the sort of shit I drive, that said I've got double the no claims you have. Edited July 27, 2012 by Pashley26 Quote Link to comment Share on other sites More sharing options...
dann2707 Posted July 27, 2012 Author Report Share Posted July 27, 2012 Jardo. I wasn't saying the price was a lot, £1100 is cheap for my 3rd year driving imo. I am more annoyed that they want £500 extra to pay in installments. Don't give me that bullshit of if you can't afford to pay you can't afford to drive. You are the most irritating person on this forum without a doubt. 1 Quote Link to comment Share on other sites More sharing options...
Jake. Posted July 27, 2012 Report Share Posted July 27, 2012 I'm going to get insurance without no claims on my mums car as a 'second driver' for £800 a year I think? Not sure how it works but it seems pretty cheap compared to others... Quote Link to comment Share on other sites More sharing options...
Skoze Posted July 27, 2012 Report Share Posted July 27, 2012 Buy an old car. I like old cars. 1 Quote Link to comment Share on other sites More sharing options...
Pashley26 Posted July 27, 2012 Report Share Posted July 27, 2012 (edited) Jardo. I wasn't saying the price was a lot, £1100 is cheap for my 3rd year driving imo. I am more annoyed that they want £500 extra to pay in installments. Don't give me that bullshit of if you can't afford to pay you can't afford to drive. You are the most irritating person on this forum without a doubt. Well if you can afford it why bitch about it? Go get a loan, or a credit card? But you say you can't get one... Not being able to get credit means you are what is known as a sub-prime lend. Basically means you are more likely to default because you don't have credit history; it's very rare that insurance companies refuse for monthly installments because they deal on high APR's to subsadise the people that do default. It's hardly a difficult concept. Stop being a willy to me, it's getting really tiring. You say I irritate you, well people who post stupid things that are answerable by common sense about insurance f**k me off too. Because we all have or had to pay it. So man up and borrow it off Daddy if you can't afford it. Or do what Matt says and buy an old car, they rock and then you have a car that isn't shit and cheap insurance and can pocket the difference in initial purchase cost for when it breaks. Edited July 27, 2012 by Pashley26 Quote Link to comment Share on other sites More sharing options...
dann2707 Posted July 27, 2012 Author Report Share Posted July 27, 2012 I wouldn't risk buying an old car for the risk of it not passing the MOT. I know my car sailed through its last one with no advisories. I just don't understand how Elephant charge £500 more for monthly installments. Beyond me. Jardo you don't need to reply to this. cheers. Quote Link to comment Share on other sites More sharing options...
Pashley26 Posted July 27, 2012 Report Share Posted July 27, 2012 (edited) I'm going to reply to it just to piss you off. My 1955 Ford 100e has never once had as much as an advisory for any MOT over the 10 years I have owned it. It's something called maintenance, people who drive a car all year and then throw it in for an MOT and see what it fails on are morons. In fact, touch wood I've never had a car fail or even get an advisory on an MOT. The answer with regards to why Elephant charge an additional £500 if you pay monthly doesn't change though; Not being able to get credit means you are what is known as a sub-prime lend. Basically means you are more likely to default because you don't have credit history; it's very rare that insurance companies refuse for monthly installments because they deal on high APR's to subsadise the people that do default.. Edited July 27, 2012 by Pashley26 Quote Link to comment Share on other sites More sharing options...
dann2707 Posted July 27, 2012 Author Report Share Posted July 27, 2012 f**k me i'm fuming !!! 1 Quote Link to comment Share on other sites More sharing options...
Skoze Posted July 27, 2012 Report Share Posted July 27, 2012 I know i like to pick holes in Jardo because it's pretty awesome sport, but that post is pretty much bang on and even has some proper legit information. There's your answer the the £500 price hike... In all seriousness though, old cars are so good. Don't buy a shit one to start with and you'll have no MoT issues (or buy a really old one like mine which won't ever need testing again come november...) learn proper hands on mechanical stuff, pay shit all for classic policies and drive something that's immeasurably cooler than a Focus. Quote Link to comment Share on other sites More sharing options...
Martin Reynolds Posted July 27, 2012 Report Share Posted July 27, 2012 Depends on the Insurance Company. Mine only charge 3% interest for monthly payments Quote Link to comment Share on other sites More sharing options...
Pashley26 Posted July 27, 2012 Report Share Posted July 27, 2012 (edited) Thanks Matt, keep up the sport. He could always be really awesome and go pre 1960, then he wouldn't even have to MOT or tax it. Don't want to labour the point, and I appreciate this is the time to step away from the keyboard; however the first paragraph of this link explains it perfectly and might be a little bit of an eye opener for other scenario's - http://en.wikipedia....ubprime_lending *edit* Martin, are you a home owner? My insurance is paid in one lump now, but when I got my name on a property it dropped my interest rate on my insurance by a noticeable chunk. Edited July 27, 2012 by Pashley26 Quote Link to comment Share on other sites More sharing options...
Martin Reynolds Posted July 27, 2012 Report Share Posted July 27, 2012 Thanks Matt, keep up the sport. He could always be really awesome and go pre 1960, then he wouldn't even have to MOT or tax it. Don't want to labour the point, and I appreciate this is the time to step away from the keyboard; however the first paragraph of this link explains it perfectly and might be a little bit of an eye opener for other scenario's - http://en.wikipedia....ubprime_lending *edit* Martin, are you a home owner? My insurance is paid in one lump now, but when I got my name on a property it dropped my interest rate on my insurance by a noticeable chunk. Not a homeowner, they charge 3% to all motor insurance paid monthly Can I pay by direct debit or credit card? Yes you can, direct debit provides a monthly instalment facility which in the first year of use is based upon a 20% deposit paid by cheque or credit card followed by 9 equal monthly instalments. In subsequent years the direct debit is based on 10 equal monthly instalments. The direct debit facility is charged at 3% on the initial balance. Credit card payment can be used for the annual premium. 1 Quote Link to comment Share on other sites More sharing options...
Pashley26 Posted July 27, 2012 Report Share Posted July 27, 2012 NFU Mutual work on the same basis; when factoring in the real life costs the online searches are never the cheapest. Dan, honest advice. Give Brentacre a call, they are bloody brilliant and their interest rates are low because they are a "specialist" and not a website used by every Tom Dick and Harry. I know a fair few people on here are insured with them and rate them very highly. They quoted me very well, but couldn't offer any vehicle cover so I couldn't use them. NFU Mutual do unlimited any vehicle cover from any age if you are interested in that, as far as I know they are the only insurance company to openly do so without charge. Quote Link to comment Share on other sites More sharing options...
Prawny Baby Posted July 27, 2012 Report Share Posted July 27, 2012 Jardo, I'll give you this one, you were right. Perhaps not the most tactful in the opening post, Dan can afford it seemingly, he just doesn't want to so is having a moan. Everything you say about affording / owning a car is right though. it does my f**king head in reading on SSS all the time how skint people are, and bitching and moaning about the price of mods and remaps and the like. if you're that f**king skint, you shouldn't have a sodding turbo'd Leon!!!!!! and you certainly shouldn't be trying to modify it! If you chose to buy a car that suits your income in the first place, you'd never find yourself in that situation. Not saying that situation applies to you Dan, but it happens a LOT on forums everywhere! Insurance is wank though, if they asked me to pay £1600 to insure a diesel focus, I'd tell them where to stick it and catch the bus. Quote Link to comment Share on other sites More sharing options...
Martin Reynolds Posted July 27, 2012 Report Share Posted July 27, 2012 Anyway dan, insurance is a joke. I was with admiral, paid like £1000, and after being with them for a year, being a year older, and a year's extra no claims bonus, they put my premium up to £1200. I looked elsewhere and got it for £600. Quote Link to comment Share on other sites More sharing options...
dann2707 Posted July 27, 2012 Author Report Share Posted July 27, 2012 Where is that extra £500 coming from though? I just don't understand it. I *will* end up paying it. Like you say, i'm just having a moan haha Quote Link to comment Share on other sites More sharing options...
Martin Reynolds Posted July 27, 2012 Report Share Posted July 27, 2012 I know insurance companies usually charge 20-30% extra for paying monthly, the extra £100 could be admin charges? Im not sure, its all a f**king con. to be honest i dont blame most people for driving without insurance, when it ends up like this Quote Link to comment Share on other sites More sharing options...
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