Fast Car, Young Driver, Inevitable Insurance

[developer]

My youngest (a mad petrolhead) has been saying how he wants a Subaru WRX STi when he's got a full licence (he's a couple of years away yet).

I've explained that the limiting factor will be insuring one, so as a bit of fun, and to get him to understand/realise this for the future, we hit a comparison site.

For the purpose of the exercise we declared him as 20 (he's only 16) and the car was a 2006 2.5 WRX Sti - value £14K.

I'm sure you know what's coming, however....

 

[Charles Morgan]

He might save a bit with a higher excess and he'd probably get a slightly better finance rate for the instalments at Wonga.

 

[Ted]

Daaad!
Could you put me on YOUR insurance?

 

[C240Sport97]

that's hilarious

what was his reaction?

 

[Spinal]

What's the minimum amount of "pocket money" you need before you can self-insure?

Wasn't that much more from what I remember

M

 

[The Polisher]

...... and then we wonder why so many young drivers drive un-insured?

 

[Gaz C220-Vito]

7k a month? Thats a serious paper round.

 

[Abdul]

...... and then we wonder why so many young drivers drive un-insured?

Exactly this.

I remember nearly 7 years ago paying £1600 TPFT on my first car (18), it was a tiny weeny Polo 1.4 TDI (3 cylinder ) colour concept and I thought that was extortionate!

My younger cousin tried insuring the exact same car in a lower risk area last year for his first car and it came to £3500 TPFT.

 

[developer]

that's hilarious

what was his reaction?

Let's say the penny has started to drop, which was the object of the exercise.

 

[Harrythedog]

So a Corsa it is then!

 

[jamesfuller]

That is mad, and for a twenty year old at that. My worst quote was £23k at the age of 18 on a F355. By the time I turned 20 my big cars where down on limited mileage policies for under £5k. Took more legwork then without the comparison sites!

Out of interest, next time you use a comparison, scroll down and see what the highest quote is. Even now when my insurance is usually in the hundreds as opposed to thousands, there are some stratospheric quotes from some going up to nearly ten grand!

 

[Terry_]

Lets be honest though, a teenager in a wrx sti is a frightening prospect!
I wouldn't want to insure one

 

[jamesfuller]

I've just realised why its so high, you ticked windscreen cover and breakdown cover. should knock a few quid off!

 

[jamesfuller]

Lets be honest though, a teenager in a wrx sti is a frightening prospect!
I wouldn't want to insure one

Quoted for a 20yo. Three years experience possible!
And the fine for no insurance is?

 

[developer]

Lets be honest though, a teenager in a wrx sti is a frightening prospect!
I wouldn't want to insure one

We refrained from putting his age as 18, because I think he thought that by 20 he'd have a chance of getting one.

He realises the problem now.

 

[jamesfuller]

As a petrol head, he must be gutted! at this rate he will be 30 before he gets more than 4 cylinders.

 

[Deleted member 37751]

My pals first car at 17 was an XR3i followed by a Peugeot 405 SRi and then a Golf GTi, all of which were written off in the first year!

 

[jamesfuller]

My pals first car at 17 was an XR3i followed by a Peugeot 405 SRi and then a Golf GTi, all of which were written off in the first year!

Is this 'your mate Dave'

 

[m2287]

You can still have a nice "fast'ish"car when you are young... I had an SLK 230 when I was 20 and that wasnt exactly slow although it wasnt rapid, Insurance was only around £1100 IIRC.

 

[balge]

Quoted for a 20yo. Three years experience possible!
And the fine for no insurance is?

good point...

https://www.gov.uk/vehicle-insurance/driving-without-insurance

"If you’re caught driving a vehicle you’re not insured to drive, the police could give you a fixed penalty of £300 and 6 penalty points.
If the case goes to court you could get:

• a maximum fine of £5,000
• disqualified from driving

The police also have the power to seize, and in some cases, destroy the vehicle that’s being driven uninsured."