Worth waiting a couple of months longer...

[Jimbob 2705]

Hi All,

Looking at getting a Clio 182 as my second car, but in a bit of a dilemma at the moment regarding insurance

Basically I'm 19 soon (May) which I'm waiting until then as insurance drops massively compared to now while I'm 18 (almost £2000 difference!!)

I passed my test in the start of July 2013, so if I insure it as soon as I'm 19, I'll only have of been driving 1 year and 10 months whereas if I wait a couple of months longer I'll be driving for 2 years, which will save me about £300-400 per year

What I'm wondering is it worth waiting those extra couple of months (until I've been driving 2 years) and save myself that £300, or is there a way I could insure it for the couple of months then update my policy (so I've been driving 2 years) to drop the price? (Guessing it doesn't work like that unfortunately!)

Other way I could see is to insure as soon as I'm 19, cancel the insurance after 2 months (pay the £50 fee or whatever it is) then start a new policy again once I've been driving 2 years, as that would work out cheaper in the long run

Have tried a search on Google but struggling to find anything if I'm honest...

Many Thanks,
James

 

[H182]

Best just to wait IMO.

 

[coverman]

Patience is a virtue , priced @ £2000

 

[Jimbob 2705]

Thanks both, I think waiting is the most sensible option, but really want one, and the start of July seems ages away haha!

Just worked it out, round figures with all mods listed, 15000 miles, £300 excess:

£1500 per year when driving two years
£1600 for a year (2 months at £150, +£50 cancelation fee, 10 months at £125)
£1800 per year if I started it as soon as I'm 19

 

[Neil@greenlight]

Its worth waiting mate as you will then always be on the correct year or driving....A lot of insurers give a discount if you have held a full licence for over 3yrs so next year you will qualify (rather than being 2 weeks behind)

Kind Regards
Neil

 

[Goodj]

OP, you realise that you'd be spending the worth of the car every year? For a shopping trolley with an oversized engine?

It's going to cost you significantly more to run than your Corsa, the insurance is just one factor.

Sure, you're probably about to say how #yolo and that living at home you've got no bills to worry about etc. But in a few years you'd look back and go "wow, I actually pissed £5k away on insuring THIS?....I could have used that money and bought something actually good!"

Just a thought, from an old man.

 

[Knuckles]

You seem very switched on, I think you should wait.

You'll appreciate it more.


Although, if you can afford a second car, go for it lol.

Thanks both, I think waiting is the most sensible option, but really want one, and the start of July seems ages away haha!

Just worked it out, round figures with all mods listed, 15000 miles, £300 excess:

£1500 per year when driving two years
£1600 for a year (2 months at £150, +£50 cancelation fee, 10 months at £125)
£1800 per year if I started it as soon as I'm 19

They should've taught maths that way in school lol!

 

[Jimbob 2705]

Its worth waiting mate as you will then always be on the correct year or driving....A lot of insurers give a discount if you have held a full licence for over 3yrs so next year you will qualify (rather than being 2 weeks behind)

Kind Regards
Neil

Thanks Neil, never thought of that! Good advice

OP, you realise that you'd be spending the worth of the car every year? For a shopping trolley with an oversized engine?

It's going to cost you significantly more to run than your Corsa, the insurance is just one factor.

Sure, you're probably about to say how #yolo and that living at home you've got no bills to worry about etc. But in a few years you'd look back and go "wow, I actually pissed £5k away on insuring THIS?....I could have used that money and bought something actually good!"

Just a thought, from an old man.

I understand that I'd be paying a large amount of the cars value in insurance but I compared it with my Corsa, and if I'm honest it doesn't save that much = £800 vs £1200 (no mods listed), by the time you add Modifications on for each, there isn't that much difference (less than the original £400 difference) so it's a case that I'm going to be paying quite a high insurance already.

I completely understand what your saying, but having had my Corsa almost 2 years, it's just starting to get that little bit boring, and as much as I love it, I'd happily pay an extra £400 for a Clio 182!

But thanks for the advice, appreciated!

You seem very switched on, I think you should wait.

You'll appreciate it more.

Although, if you can afford a second car, go for it lol.

They should've taught maths that way in school lol!

Haha, your too kind! Although when it comes to money I always try to do my research


Basically what I've worked out, is that getting the car 2 months sooner will cost me £100 more :

£1800 per year as soon as I'm 19, so that's 1800/12 = £150 per month
So £150 x 2 = £300

Cancel fee = £50

£1500 per year once driving 2 years, so that's 1500/12 = £125 per month
£125 x 10 = £1250

Add it all up = £300 + £50 + £1250 = £1600 for a years insurance (meaning only £100 more overall)

This would also mean my insurance would fall under my correct year of driving, like Neil kindly pointed out

Problem is the effort of going through the cancellation progress which I'm not sure how easy it all is....

Food for thought anyway - It all depends how long it takes me to find the right one anyway!!

 

[Goodj]

Cancelling won't be too hard, especially if you're paying monthly.

 

[Knuckles]

I may just be being cynical here but.

For the £100 saving, and the very real possibility of insurers* trying to shaft you** when trying to cancel and start fresh, I wouldn't bother. It's £100 and time and effort.


*not all insurers are thieving cod pieces.

**i base this on no factual data other than the unanimous opinion that insurers are pricks and will shaft their nan given the chance... See * #1 to see I'm not contradicting myself

 

[Goodj]

There is also that ^ yes.

Thinking about it, the £100 saving will be chewed up within 3 fill ups as you'll probably do about 50% mpg while you grin and redline the old trolley everywhere.

Since you'll need to be feeding it high-octane unleaded* this will soon go through your perceiving savings and to boot you'll now have to get well involved with premium tyres else 70% of the point of the car will be compromised. Mods will soon become an obsession and then you're talking about more insurance calculations

*or get worse MPGs and a quite noticeable impact on performance

 

[Jimbob 2705]

Been thinking about this a bit more, and would still happily pay £100 to drive 2 months sooner.

The issue I can see is that wether or not I will get a full refund (for the 10 months not used) and also will they retake be back on if I just cancelled (which I highly doubt)

Obviously waiting 2 months is the best idea but when your desperately want one it seems so far away lol

 

[Sash]

That's if in 2 months time he quotes are still correct.... They can increase too....

 

[Goodj]

When you cancel, you will get hit with an admin fee and it'd take expert timing to get a full 10 months. Any part-month wouldn't be refunded.
Bear in mind that within 5 minutes of buying a 182 you'll start feeling inadequate because you've got no lowz, or big zorst, or a remap specifically designed to help you fail MOTs. And you wont be getting insured on a car with those without having your trousers considerably pulled down. £100 will actually be a pittence in comparison.

But hey, kids gotta have their toys