Best insurance for young person + high performance/luxury cars?

AmDaMan · 7 Dec 2009 at 13:06

Elephant for me by far. Not a luxury car but a group 20 (which is well known for giving silly quotes). It was reasonable for my age (23).

A lot of the better ones require you to be 25. Flux or LV, can't remember which have an exemption list :/

Dr Who · 7 Dec 2009 at 13:30

Sky or Adrian Flux are good for those combos

Sin_Chase · 7 Dec 2009 at 13:35

Adrian Flux insure me on my S at 23 for silly low amounts

They don't even want extra cash to put an aftermarket exhaust on.

Being part of a recognised owners club helps, some may even have direct affiliations with them which are well worth looking into.

SeatIbiza · 7 Dec 2009 at 14:48

jellybeard999 said:
Try some of the more niche companies - Adrian Flux, Quinn, Noel Dazely (sp?) etc

noel dazely insured my on the RS4 @ 25 for £1250 all mods declared and repaired like for like. That was with 1yr ncb

I reinsured this year for £750, all mods declared, 2yrs ncb and that is with Admiral I think. The only difference is no repaired like for like on the mods but I figured if i ever crash it's eitehr a) going to write the car off or b) not damage the mods all that much (brakes, ECU, suspension, ARB's).

It's weird how insurance companies work - i still think they just pluck figures out of the air!

Firestar_3x · 7 Dec 2009 at 14:54

SeatIbiza said:
I reinsured this year for £750, all mods declared, 2yrs ncb and that is with Admiral I think.

You sound like one of those guys on Traffic Cops trying to blag having no insurance.

"My insurance is with Admiral, i think, oh wait actually its with Churchill or perhaps Swinton, no its 100% with Admiral".

Still sounds like a good quote.

Hatter The Mad · 7 Dec 2009 at 15:02

Adrian Flux comes out the highest for me, quoting £4680.7 for a 2009 330i.

Sin_Chase · 7 Dec 2009 at 15:06

How old are you?

Hatter The Mad · 7 Dec 2009 at 15:08

Sin_Chase said:
How old are you?

22

Sin_Chase · 7 Dec 2009 at 15:09

How long have you had license and any NCB?

[TW]Fox · 7 Dec 2009 at 15:12

I think you'll one day regret the day you decided to spend 30-40 thousand quid on a 3 Series, personally, especially at 22.

It's the sort of car you buy when you've got everything else you might need in life, or the company is paying.

Or its depreciated. Which a 2009 hasn't. You'll buy it for £30-40k and in 3-4 years time somebody will take it off your hands for £10k and get the same, the same enjoyment, for tens of thousands of pounds less.

I'm sure it seems really attractive to you now, but you will regret it.

Get a 2003 330i instead. 90% of the experience. All you miss out on is the 'latest model'. It's not even any slower really.

Sin_Chase · 7 Dec 2009 at 15:14

Does seem a little strange to be conscious of saving a couple of grand on insurance by waiting a year but happy to spend 30k on a car :x

If you are 22 and have 0 NCB then I doubt you will get ANY sensible insurance from anyone.

AmDaMan · 7 Dec 2009 at 15:21

Exactly, what's the fuss over a couple of thousand insurance when you are spending 30k+ ?

Kudos on having 30k disposable income at 22 btw!

Sin_Chase · 7 Dec 2009 at 15:23

AmDaMan said:
Exactly, what's the fuss over a couple of thousand insurance when you are spending 30k+ ?

Kudos on having 30k disposable income at 22 btw!

Financccccce!

For all we know it's a 15grand car at CarCraft.

[TW]Fox · 7 Dec 2009 at 15:24

Still suprised his quotes are so high on a 330i, I insured my 530i at 22 for about a grand. An E60 530i valued at £30k at the time was.... £10 less.

Sin_Chase · 7 Dec 2009 at 15:25

Well, we don't know his history or NCB so 4.5k might be about right

Hatter The Mad · 7 Dec 2009 at 15:34

Sin_Chase said:
Financccccce!

That's right

[TW]Fox;15477055 said:
It's the sort of car you buy when you've got everything else you might need in life, or the company is paying.

Well, maybe. I could pay cash - but I am choosing to finance because I still want to have access to that cash over the next two years. I won't be missing the monthly payments, and the discount I'll be able to negotiate when taking finance combined with the scrappage scheme discount will just about cover the cost of taking the finance. As for the rest, well, I can appreciate the price of the finance in exchange for having access to cash over the next two years.

Or its depreciated. Which a 2009 hasn't. You'll buy it for £30-40k and in 3-4 years time somebody will take it off your hands for £10k and get the same, the same enjoyment, for tens of thousands of pounds less.

This wouldn't lessen the enjoyment I'd extract from it throughout my years of ownership......... maybe.

I'm sure it seems really attractive to you now, but you will regret it.

Doh

[TW]Fox;15477143 said:
Still suprised his quotes are so high on a 330i, I insured my 530i at 22 for about a grand. An E60 530i valued at £30k at the time was.... £10 less.

I don't understand it either.

AmDaMan said:
Exactly, what's the fuss over a couple of thousand insurance when you are spending 30k+ ?

Because it is a couple of thousand quid. Being in a position where I could afford to own and maintain a car of that value doesn't mean I'm foolish

If I could happily wait for a year or so and save that money, I would. I don't see what is wrong with trying to save thousands here :shrug:

Cyanide · 7 Dec 2009 at 15:34

Hatter The Mad said:
Adrian Flux comes out the highest for me

Same here, 3 times what I'm paying with Admiral :eek:

Jez · 7 Dec 2009 at 15:38

This is a huge mistake. While i do not know your financial situation it is fair to assume that this purchase qualifies as a lot of money to you.

Seriously, dont bother. The time to be buying 30k cars is when the money can simply be released from somewhere and not be an issue.

Why on earth do you have 30k sitting around at the moment anyway? What a dire waste of capital.

[TW]Fox · 7 Dec 2009 at 15:38

Hatter The Mad said:
Well, maybe. I could pay cash - but I am choosing to finance because I still want to have access to that cash over the next two years

I'm not going there after having many arguements over this logic with Dolph in the past

I won't be missing the monthly payments, and the discount I'll be able to negotiate when taking finance combined with the scrappage scheme discount will just about cover the cost of taking the finance. As for the rest, well, I can appreciate the price of the finance in exchange for having access to cash over the next two years.

Wait... scrappage?

You are going to order a brand new 330i because you can get SCRAPPAGE discount on it? This has gone from a curious situation to really rather bizarre. Seriously, what?

A 330i with any sort of half decent spec you'd actually want is going to run to about £35k after discount. THIRTY FIVE THOUSAND POUNDS. On a BMW 3 Series. Come on man, please see how ridiculous this is.

What does it offer that a £7k E46 doesnt thats actualy worth the cash?

How long have you spent in E90's? I've used loads. Even a few fully loaded ones. They are nice cars but... they are not £35,000 cars. Absolutely no way.

This wouldn't lessen the enjoyment I'd extract from it throughout my years of ownership.

You honestly wouldnt mind the fact that 3 years in a 3 series could potentially cost you about £20-25,000 just in DEPRECIATION? That doesnt concern you in the slightest?

With that sort of attitude towards cash I doubt your fortunate position is going to remain so fortunate for long :eek:

Because it is a couple of thousand quid. Being in a position where I could afford to own and maintain a car of that value doesn't mean I'm foolish If I could happily wait for a year or so and save that cash, I would.

So wait a year or two and buy the same car for £10,000 less!

Hatter The Mad · 7 Dec 2009 at 15:38

[TW]Fox;15477055 said:
Get a 2003 330i instead. 90% of the experience. All you miss out on is the 'latest model'. It's not even any slower really.

I don't want to risk getting a turd, and I sucker for the gadgets (which is part of the ownership experience, as sad or whatever that may be).