Would you risk 3rd party F&F?

gareth.e

gareth.e

gareth.e

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I've been doing some more on-line quotes...

Now it's unlikely I'll be buying an M5 any time soon.. BUT

Turns out I could be insured for as little as £2300 on an M5 3rd party f&f.... Compared to £6900 Fully comp most people usually quote me with a £1000+ excess

In my eyes It might well be worth risking a 7.5k M5 as even if you were to bin it.. Then it's still going to be worth something in parts and you've just saved like nearly 5k in insurance...

Would you risk it for a biscuit?!


It might seem silly money to some people but for some cars I think I would risk it!
 
Where does a 19 year old get a 14k car budget from? The loans company?

As I said, if you cant afford to insure an M5 you cant afford to run an M5. The reason why it's a huge quote is becuase a 19 year old will crash an M5.
 
I wouldn't but then on my car 3rd party is no cheaper. If I owned a car worth more, I wouldn't risk it either.

Why do I get the impression you're thinking of buying one on finance and using 3rd party? An excellent idea I might add, you'll be paying for the car long after you crash it.
 
[TW]Fox;12947963 said:
If you can't afford to comprehensively insure an M5 you cannot afford to run an M5.
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Would you expect the running costs to be considerably greater than £4600pa on average? (not including fuel etc.)
 
[TW]Fox;12947989 said:
Where does a 19 year old get a 14k car budget from? The loans company?

As I said, if you cant afford to insure an M5 you cant afford to run an M5. The reason why it's a huge quote is becuase a 19 year old will crash an M5.
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I'll be 20 :p

Basically I've got monies accumulated in my bank accounts, I'm earning money part time now.. And I'll be In full time employment for a year starting next summer with basically no out goings as I will be living at home :)

p.s I'm not seriously considering this... (yet) I'd rather have something else :p
 
Dogbreath said:
Would you expect the running costs to be considerably greater than £4600pa on average? (not including fuel etc.)
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Not including fuel? Is he going to run it on air?

The costs could easily reach that sort of level if he's unlucky, yes. It's a 4 door saloon which will do 0-100 quicker than a Ferrari F355. It's not a 19 year olds car.
 
gareth.e said:
Basically I've got monies accumulated in my bank accounts, I'm earning money part time now..
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This thread is ridiculous.

We had a thread like this once. A guy called Jollygreen spent £14k on an Elise at a similar age and used TPFT insurance after a 10 page thread telling him how stupid it was.

Within a year, he wrote the car off, owed £12,000 on a car that no longer existed.

You cannot afford to run a car like this, so stop thinking about it.
 
sr4470 said:
You had your answer.

Buy something remotely sensible...a Civic maybe? There is really no point in risking it with an M5 and throwing the money away\getting into debt.
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Civics are spotty kids cars :p

I want a real car.

You would be in shock if I showed you some of my ideas :D


The most current plan and most sensible by FAR!.. Is buy my mum an mx5 use it part time for a year while I'm back then give it to her as a present :) then when I'm 21 I'll be out of uni with a years ncb... and lots of money burning a hole in my pocket.


edit: Oh.. And there's no way I would be stupid enough to fund the car on a loan, that's just asking for a kick in the ass..
 
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gareth.e said:
Would you risk it for a biscuit?
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Someone's been listening to far too much crappy real radio :p

I was 3rd party fire and theft on my old MK6 Escort - car was only worth £500 or so, didn't make me feel much better when a deer killed the car at 70mph early one morning :(

I was fortunate enough to be able to buy another car as a replacement - for me though if my cars worth anything above 1K I'd go fully comp. If I was buying an M5 I wouldn't even consider 3rd party fire and theft though :eek:
 
gareth.e said:
Civics are spotty kids cars :p

I want a real car.
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Hello, there's a credit crunch on, some really nice stuff can be had really cheap. Get yourself a nice big 8 to 12 year old saloon, top trim level, then bend over and take the insurance cost like every 19 year old has to.
 
gareth.e said:
Civics are spotty kids cars :p

I want a real car.
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I didn't say a Type R with lots of bling did I?

gareth.e said:
The most current plan and most sensible by FAR!.. Is buy my mum an mx5 use it part time for a year while I'm back then give it to her as a present :) then when I'm 21 I'll be out of uni with a years ncb... and lots of money burning a hole in my pocket.
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A student with thousands to spare, who works part-time? I call shenanigans.
 
If I could be bothered i'd work out exactly how much he'd need to have earnt since his 18th birthday in order to have £14,000 sitting in a savings account but.. i cba.

We'll just go with LOL K THEN.
 
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