Young driver's car insurance too high? Buy a new car.

Is it time to buy a new car? Your young driver's car insurance could get cheaper if you do.

I read an interesting news item recently about a 17-year-old male who had paid £1000 to insure his Citroen Saxo 1.6 VTR whilst he was learning to drive in it and who, when he passed his test and wanted to drive the car unsupervised, was asked by the insurance company to pay an extra £600 to cover the remaining six months of the policy.

He was apparently outraged at the appalling nerve of the car insurance firm, so he and his father made such a noise about it that their local paper made a news story out of it.

I was encouraged to read a barrage of abusive comments under the online story asking why it was deemed 'news' and why did this young man feel aggrieved when he was asking the insurers to cover a completely inexperienced driver in a powerful car, and why hadn't the pair done their homework beforehand.

According to Parker's, the 1999 Saxo VTR model has a top speed of 120mph, 100bhp and is insurance group 7. It's not difficult information to find out and when you are buying a car to learn to drive in, it's the sort of data that it is financially advisable to get hold of. As a 17-year-old male new driver, unless your dad is an oil sheik, you ought to be thinking about buying a smaller, less powerful car that will keep your young driver's car insurance costs down.

However, in the current economic climate, with the car industry in its direst situation since 1996, this could be a really good time to buy a new car, which could be cheaper to insure because of the plethora of safety features now incorporated as standard.

Many manufacturers are offering 0% finance deals to tempt customers through their massive glass doors and although you might have to stump up a hefty deposit, you can't get better than 0% on a loan. Or you might be lucky enough to find a dealer taking a percentage off the list price. The media is littered with stories of up to 50% being taken off the price of a new car and even of 'buy one get one free' deals. That means you could split the cost of a new car with a friend or relative.

According to Netcars.co.uk there may also be great deals to be had when buying used cars. Manheim Auctions has revealed that the average wholesale value of second-hand cars fell by 21% in 2008 and a spokesperson for the firm suggested that prices were likely to stay low for some time in 2009.

One of the main things that young drivers should think about when buying their first car is the cost of keeping the car running, and that includes your young driver's car insurance. If you've found a car that you like the look of, find out about its insurance grouping, then ring your insurance company or ring three and find out what deals they could do you on your car insurance quote. If the price of the cover is too high, you may have to think again about the car. There's plenty of motors out there and if you plan to keep it for a while, thinking long-term about the cost of keeping it on the road is a really smart move.

Digg!

 

 

 

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