Owning 2 Cars

Soldato
Joined
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Hi There!

How many of you own 2 cars? The reason I am asking is because I will hopefully be buying a new car next week, but I havent got round to selling my old one (anyone want to buy a 172 :p ).
I am planning on putting the 172 in the garage and making the insurance as low as possible, i.e. 3rd party or similar and then advertise it for sale.
Apart from the extra tax and insurance, are there any other implications to owning 2 cars? How do you all insure both cars? Under separate policies or combine the 2 cars into one policy? Im looking for the cheapest solution possible to owning them both until I sell one of them. Thanks.
 
panthro said:
Hi There!

How many of you own 2 cars? The reason I am asking is because I will hopefully be buying a new car next week, but I havent got round to selling my old one (anyone want to buy a 172 :p ).
I am planning on putting the 172 in the garage and making the insurance as low as possible, i.e. 3rd party or similar and then advertise it for sale.
Apart from the extra tax and insurance, are there any other implications to owning 2 cars? How do you all insure both cars? Under separate policies or combine the 2 cars into one policy? Im looking for the cheapest solution possible to owning them both until I sell one of them. Thanks.
Ive got a lovely 172 possibly for sale :D
*edit* just reread and see your selling yours and not wanting one :( as far as Im aware you have to have a seperate policy for each car, a lot of insurers do extra discounts for 2nd cars etc and you can severly limit the allowed mileage to reduce costs
 
panthro said:
Hi There!

How many of you own 2 cars? The reason I am asking is because I will hopefully be buying a new car next week, but I havent got round to selling my old one (anyone want to buy a 172 :p ).
I am planning on putting the 172 in the garage and making the insurance as low as possible, i.e. 3rd party or similar and then advertise it for sale.
Apart from the extra tax and insurance, are there any other implications to owning 2 cars? How do you all insure both cars? Under separate policies or combine the 2 cars into one policy? Im looking for the cheapest solution possible to owning them both until I sell one of them. Thanks.

2 seperate policies is the usual way. You 'might' ba able to get some extra ncd on the second policy but it's up to the insurer in question.

I'd try and stagger the tax and insurance on the two cars so that you don't get styung for both of them on the same month as well ;)

Paul
 
Buy the new car and make that the main car on your insurance policy. Then ask them to insure your 172 on the same policy on a temporary basis, for the time you think its going to take you to sell it.

I did that through directline when I got my new car but hadn't got round to selling the old car first. It cost me something like 25 quid to insure the old car on the same policy for a month and it gave me enough time to do what I wanted with it and sell it.
 
if you are garaging your 172, 3rd party insurance will be about as useful as no insurance, unless joe public runs into your 172 and runs himself over :D
3rd party won't cover theft from your vehicle nor damage to it so there is no point in having insurance, especially as you are garaging it? If the time comes where you need to insure (i.e for a test drive), then try dayinsure and insure it for that period.

However, i think it might be admiral, who will insure 2 vehicles under 1 policy, and this is likely to be the cheapest option for insuring both.
 
I have to have some form of insurance on the 172 incase it gets stolen from my garage, which although is highly unlikely, it still might happen.

Thanks for the replies guys :)
 
If you're leaving it for a length of time you might be able to get laid up insurance.

I own 3 cars (greedy me!), one on a normal policy, one on a classic policy, and one not insured, but when I take it for its mot I'll use one of the day insurance lot.
 
tblocksom said:
If you're going to put it in your garage (i.e. off the road), won't you be better off declaring it SORN and cancel the insurance on it?

But I will need it to take people on test drives, etc. Plus I would like to run it occasionally.
 
I own and drive 2 cars, both insured on the same poilcy, £89 in total for the pair a month but they are both group 15 and i'm using the pay as you go service. (monthly)

www.ecarinsurance.co.uk

Separate policies would cost me £100 in total.

The anual policy is a lot cheaper, but if i only keep one car for a month and change it, it saves lots of hassle. Or even if i want to cancel the policy all together.
 
I insured a garaged vehicle with Liverpool Victoria a couple of years ago for fire and theft risks for about £80 a year. Best bit was when I later converted it to a fully comp policy they gave me the NCB for the period of the F&T insurance as well.
 
blueboy2001 said:
I insured a garaged vehicle with Liverpool Victoria a couple of years ago for fire and theft risks for about £80 a year. Best bit was when I later converted it to a fully comp policy they gave me the NCB for the period of the F&T insurance as well.

I was also going to say that some insurers offer a garaged policy. I was offered one for my Stag while it is off the road, but I'll probably MOT it this week or so and insure it properly. I was going to strip it back down over the winter, but I'm not sure what to do at the moment...

Anyway, back on topic, it's worth asking around some of the more obscure, specialist, insurers such as footman james (classic cars really, but they do owner club deals on moderns, I think), Adrian Flux, LV, and so on (It may be worth joining a club too, my garaged Stag insurance quote was about £40 a year).
 
johnny6 said:
Buy the new car and make that the main car on your insurance policy. Then ask them to insure your 172 on the same policy on a temporary basis, for the time you think its going to take you to sell it.

I did that through directline when I got my new car but hadn't got round to selling the old car first. It cost me something like 25 quid to insure the old car on the same policy for a month and it gave me enough time to do what I wanted with it and sell it.

Agreed, just having this same problem now, I stupidly took out another policy online when they said I could have put the new car on the same policy. Now I might have to sell my old car in a hurry I guess as they will only allow so many days grace to transfer over the no claims. :confused:

Oh yeah and I have to return my no claims proof back to the same company..hehe
 
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what car are you replacing the 172 with?

I have a 172 and have been thinking about getting something else next year, dont think I will get another hot hatch tho as theres not many cars that are noticably quicker than a 172
 
FishThrower said:
what car are you replacing the 172 with?

I have a 172 and have been thinking about getting something else next year, dont think I will get another hot hatch tho as theres not many cars that are noticably quicker than a 172

Hopefully if my deal goes through, a BMW 330Ci. I am fed up with french build quality. If not then possibly a Honda S2000. Will know by the end of this week.
 
2? I own 3 :)

And im looking at buying a 4th :D

I must however add that they are:

MK3 1.4 Golf - Has been off the road for about 14 months now. No tax or MOT. Needs a new gearbox, rear boot lock and the drums have seized. Trying to get a recond gearbox and will then be selling it for around £500-600, hopefully. Car starts first time as well.

1.816v Corrado - Never thought i would own a white car but looked good. bought as a run around and had an accident after about 4 weeks of owning it. Needs new drivers sill, 1/4 panel and wing. Chasis is not twisted but i havent the room to repair it. Looking to sell, but would like £1K. The parts alone are worth more.

Corrado G60 - Off the road and needs some TLC. Amazing body but ive got to replace all the copper brake pipes and get some goodridge hoses. Engine needs some work and the charger needs reconditioning.

All SORN at the moment :(

Looking at getting another Rado as a run around while i try to get rid of the 1.8 and the golf.

Insurance wise, you can get multicar policies. I am 25 with 3 points (SP50) and was looking at £940 TPFT for all three cars, only using the G60 as a run around.
 
I phoned my insurer elephant and they wanted an extra £63 a month to insure my 172 for temporary cover on top of my policy for my (prospective) new car :(

Will phone about now and see what I can get.
 
I used to have a Rover 416 as well as my mr2. Whilst the Rover did way better mpg it just worked out so much less to just own the one car because -

2x Insurance
2x Tax
2x MOT
2x Service items (£££££££££)
2x fuel bills (for me anyway...my Rover was to get me to work my mr2 was for weekends, but ended up driving about equal miles in each car).

The only advantage is that if one goes wrong you have another as i found out.
 
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