Crashed :-(

[TW]Fox · 11 Jan 2010 at 15:01

Insuring a Punto with a 1400 excess then crashing it is not the actions of a 21 year old who can afford to buy and run a 20 grand 300bhp BMW. Sounds like a financial disaster waiting in the wings. Thought you were a student anyway?

Peerzy · 11 Jan 2010 at 15:19

[TW]Fox;15709957 said:
Insuring a Punto with a 1400 excess then crashing it is not the actions of a 21 year old who can afford to buy and run a 20 grand 300bhp BMW. Sounds like a financial disaster waiting in the wings. Thought you were a student anyway?

It wasn't a Punto :rolleyes:

I'd rather not get into a what I can and can't afford to buy/run in this thread, I'll make a new thread when I'm coming to the point of buying.

I am a student, however I'm currently on my placement year so working and do have the funds and wouldn't even consider financing a car.

[TW]Fox · 11 Jan 2010 at 15:22

Did you get a placement as CEO of IBM? Why waste your time going to uni if you have already been sucessful enough to earn 25k to buy and run a car like that. I swear half this forum has its head in the clouds. If you actually have that sort of cash in the bank it makes your insurance saving plan of fail even more mind boggling.

lordrobs · 11 Jan 2010 at 15:26

[TW]Fox;15710138 said:
Did you get a placement as CEO of IBM? Why waste your time going to uni if you have already been sucessful enough to earn 25k to buy and run a car like that. I swear half this forum has its head in the clouds. If you actually have that sort of cash in the bank it makes your insurance saving plan of fail even more mind boggling.

That does sum it up really.

Obviously this is a forum of motoring enthusiasts but the huge rush to get into the most expensive metal possible does seem to be getting a bit extreme.

There is plenty of time to buy into expensive metal once you have the well paid job, nice house etc. in the mean time there are stacks of cars out there that are great to own and drive for a fraction of the cost.

Peerzy · 11 Jan 2010 at 15:27

[TW]Fox;15710138 said:
Did you get a placement as CEO of IBM? Why waste your time going to uni if you have already been sucessful enough to earn 25k to buy and run a car like that. I swear half this forum has its head in the clouds. If you actually have that sort of cash in the bank it makes your insurance saving plan of fail even more mind boggling.

I did have an interview at IBM, not for the CEO though! I've not earnt £25k in the last year to buy a car. As I explained when I purchased my last car I had more money tucked away for future things anyway, plus I get 'paid' to go to University.

As for the insurance, it was a £1000 excess (young with mods) and £700~ premium or £1400 excess and £480~ premium. Having already owned the car for a year and not had any trouble keeping it on the road I took the risk.

lordrobs said:
Obviously this is a forum of motoring enthusiasts but the huge rush to get into the most expensive metal possible does seem to be getting a bit extreme.

There is plenty of time to buy into expensive metal once you have the well paid job, nice house etc. in the mean time there are stacks of cars out there that are great to own and drive for a fraction of the cost.

I've got seperate money aside for property. Although I do agree with the whole jump into the most powerful expensive thing isn't a good idea and although I could afford my 'dream' car (Mustang 4.8l GT) I'm thinking I'd rather get something cheaper but still fun now while I can still enjoy it (Honda S2000).

[TW]Fox · 11 Jan 2010 at 15:38

So you get paid to go to Uni, have 20k set aside for a flash car *and* enough money aside to buy a property?

All within 3 years of being proper working age?

Cash in transit robbery?

Being so wealthy the mind boggles at the steps you took to save a paltry 200 quid.

Most placements will net you circa 15k before tax and living expenses - IBMs placement scheme was 13.7k when I applied...

Peerzy · 11 Jan 2010 at 15:44

[TW]Fox;15710248 said:
So you get paid to go to Uni, have 20k set aside for a flash car *and* enough money aside to buy a property?

All within 3 years of being proper working age?

Cash in transit robbery?

Being so wealthy the mind boggles at the steps you took to save a paltry 200 quid.

I don't have enough to buy property, but there is some set aside for a house deposit etc....

Not all money is acquired through working (unfortunatly in my case).

There is no point wasting money, I felt confident enough that I wouldn't crash my car, it was £200 saved by risking £400. Not the end of the world and I gamble worth taking.

I appreciate the 3rd degree but I won't be answering any more questions untill I make a 'New car' thread, cheers.

ci_newman · 11 Jan 2010 at 15:51

I think that we need a role reversal on this forum

We should start recommending that people take out huge finance agreements to own a car that is clearly beyond their reach.

Call it Darwinian car ownership or something.. It could be fun to watch the results.

(Not that I'm implying the O/P is planning on taking out finance to buy a car)

-Ad- · 11 Jan 2010 at 16:01

[TW]Fox;15710248 said:
So you get paid to go to Uni, have 20k set aside for a flash car *and* enough money aside to buy a property?

All within 3 years of being proper working age?

Cash in transit robbery?

Being so wealthy the mind boggles at the steps you took to save a paltry 200 quid.

Most placements will net you circa 15k before tax and living expenses - IBMs placement scheme was 13.7k when I applied...

Fox, you really do brighten up my days sometimes

Honestly, £1400 excess is ridiculous. Hey I'm a careful driver and don't dream of crashing, but **** happens. £1400 is a large some of money considering the car, age and place you are at in your life.

It's good you're not hurt and have learned your lesson that you must learn to drift around large clumps of ice

Gaygle · 11 Jan 2010 at 16:16

Peerzy said:
It wasn't a Punto

I'd rather not get into a what I can and can't afford to buy/run in this thread, I'll make a new thread when I'm coming to the point of buying.

I am a student, however I'm currently on my placement year so working and do have the funds and wouldn't even consider financing a car.

Good god. Are you seriously considering buying and running a 335ci? I feel when your buying thread comes around, it'll go the same way as the thread you made when you were utterly convinced that the Bravo was the best car on the road and it was a good idea to spend 11k(?) on one.

matt_fsr · 11 Jan 2010 at 16:26

Peerzy - You're not on the Fiat Forum by any chance are you?

[TW]Fox · 11 Jan 2010 at 16:46

Gaygle said:
Good god. Are you seriously considering buying and running a 335ci? I feel when your buying thread comes around, it'll go the same way as the thread you made when you were utterly convinced that the Bravo was the best car on the road and it was a good idea to spend 11k(?) on one.

The amusing thing was that it was full of people telling him to spend a bit less on something a bit more interesting like a 330Ci and he kept telling us he didnt like that sort of car. Now he likes it enough to drop £20k he managed to amass before even starting Uni (at the age of what 18) on one :confused:

Doubtful we'll get the usual OMG ITS HIS CASH crew but some people really do set themselves up...

Moeks · 11 Jan 2010 at 16:50

[TW]Fox;15710863 said:
Doubtful we'll get the usual OMG ITS HIS CASH crew but some people really do set themselves up...

What's the point anymore, waste of time.

bam0 · 11 Jan 2010 at 16:58

I once had a £1250 excess on £500 car, it made full comp cheaper than TPFT and meant I got things like £50 windscreen replacement. Although in this case it doesn't seem to make quite as much sense.

LiE · 11 Jan 2010 at 16:59

£1250 excess so you gain access to £50 windscreen replacement? Genius.

DiG · 11 Jan 2010 at 17:00

[TW]Fox;15710248 said:
Being so wealthy the mind boggles at the steps you took to save a paltry 200 quid.

Can I just make the point that a lot of very rich people are so because they are so tight with there money, the richest people I know regularly go out of their way to save a couple of hundred

Not saying this guy has or hasn't got the money, just wanted to make that point!

bam0 · 11 Jan 2010 at 17:11

msm722 said:
£1250 excess so you gain access to £50 windscreen replacement? Genius.

Did you fail to read the whole (rather short) post? That level of excess was cheaper than TPFT, and I'm never going to claim on it anyway for a £500 car, so yeah, it was quite a good idea.

spaz · 11 Jan 2010 at 17:16

Seems a bit weird trying to save £200, then spending probably double that on your remap, speaking of which, given the ludicrous excess, that must've added a fair whack to the premium? Mods have never been cheap for me to add to my insurance for some reason!

Jono8 · 11 Jan 2010 at 17:41

this thread makes me laugh

To OP. How have you, by the tender age of 21, managed to acquire enough money to splash 20k on a car and have enough to put a deposit down on property?

Also seems like an insane excess to have if you have 40k or so sitting in the bank :confused:

Lord-Jaffa · 11 Jan 2010 at 17:59

Without any no claims bonus, having a crash on your record (if you do claim that is) and being 21, I can safely say you wont be having any major insurance savings schemes on an S2000