Car Insurance & Other Running Costs

[col88]

What's everyone paying at the minute? My renewal has come through and it is £194 a month for a 1.6 focus. I have been driving for 5 and a half years..ok I had a small bump last year on the way to the Fax game so my no claims bonus has been halved to 2 years and I have 3 points on my licence but I still feel that this price is ridiculously high or is it just me? 

My car is on finance costing me £207 a month (I would have bought a cheap runaround outright but I simply did not have a grand to pay upfront)

Petrol as we all know is ridiculously high and it costs me £180 a month travelling to work and back (this doesn't include social use)

Car tax I think is £180 and MOT £50 a year so say £20 a month (not allowing for any repairs)

TOTAL: £601 a month to run a car

I personally think this is ridiculous. And before I get any comments such as "well don't have a car then if you are not happy paying that price" I couldn't really do without due to the poor poor transport links. It would take me 2 hours (4 buses or 1 bus and 2 trains) to get to and from work - a half hour journey by car. I am seriously looking at moving on works doorstep and ditching my car altogether although I know I will really miss it  i simply cannot afford to run a car and have my own place, really winds me up as I am a hard worker and I can't even have the basics

[Torn Sock]

Surely there must be a cheaper car insurance than that? I know it takes into account paying in monthly installments but even so it is still disgraceful, espec if you have 2 years NCB! Sounds obvious but have you tried go compare/money supermarket/any of the other comparison websites?

As a thought can you get a loan from a bank next time it is up for renewal? Pay it off in 1 go and pay the bank back in 12 months? I bet the rate is cheaper than the 1 the insurance firm offers?

[Big E]

how old are you and do you live in a ghetto as that is ridiculous?

Try admiral. they have always been pretty good with me.

[GSF]

Rip off.Just phone them up and tell them you will not be renewing with them,the quote will soon come down.When you get the cheaper quote telll them you will think about it and then shop around.These brokers prey on people forgetting the deadline thus allowing the policy to continue automatically.I once phoned a broker at 11.30 am with the policy due to expire and then a new one continue at noon the same day,and canceled,just for the hell of it.

[Waldorf]

I'm guessing by your user name that you're a bloke of 23-24, insurance won't start coming down until you're 25 usually. I'd also guess that as you drive 30 mins each way to work you couldn't go for a limited mileage policy, or one of those policies where they fit a tracker in your car. You should be able to reduce your premium by increasing your excess, but bear in mind that will increase the amount you will be responsible for if you have to make a claim. I'm guessing also if you've got a newish car its from a Ford dealer, under one of those "we'll buy it back in 3 years" type schemes. Might be worth considering if you could swap it for, say, a 1.2 Fiesta or similar - check first what the insurance would be but I'd assume much cheaper than a 1.6 Focus for you. If you went down this route it might be worth considering a diesel model too, to reduce your fuel costs. I'm not for one minute suggesting that you do, but if you drive everywhere at mach one you'll also notice a big saving in fuel if you take it easy. The other things to bear in mind are, as others have said, ring around and get on the net. Look for a company who specialises in younger drivers - when I was your age (guessing 23ish) Co-op where miles cheaper for me. Good luck with it!

[Stanley Leisure]

I'm with Admiral, they're pretty good.

I only passed my test a couple of years back and bought myself a pretty rapid car (Mini Cooper S 1.6) but I only pay about 900 a year - my car's parked on the street, too.

When I renewed, it was about £100 cheaper.

[col88]

Thanks all for your replies..much appreciated. Although I have pretty much explored all of these avenues to no avail  i have tried compare the market, money supermarket, go compare etc and there is only one company which can beat it (by about £50) and for this reason I don't see the point in changing because when you go with a new company you always have to pay £300-400 one off payment and then £190 a month or whatever it is and I don't have money to stump up. As for my car finance as you say there is a clause in it that I can call it quits half way through and it will be half way through in June so I am almost certainly going to do this and then either try to save a few hundred quid over the coming months and buy an old 1-1.2L car and then just get 3rd party insurance (although I got a quote for a 1.2 Clio just to get a rough idea and that was coming out at £140 a month 3rd party)  Or I can downsize and get a car on finance paying upto £120 per month. I suppose I do live in a ghetto living in Widnes  To be honest it could actually be much worse because I went halves on a flat in Manchester with a mate end of October (luckily only a 6 month rental as I am not enjoying living in Manchester) but when I looked for a quote for there they told me it would be £480 a month!!!! Luckily I spend as much time in Widnes as I do Manchester so my car can continue to be registered in Widnes..the joys of car insurance eh!!

[Coulton]

That level of insurance cost is absurd.  Would it be an option to sell your existing car and buy a new car with 1 or even 2 years' free insurance?  Good way of building up your no-claims bonus and also with a new car you get a minimum 3 year warranty.  

[col88]

And yes I'm 23 so I think I will have to wait til I'm 25 to see any significant improvement  

[col88]

That level of insurance cost is absurd.  Would it be an option to sell your existing car and buy a new car with 1 or even 2 years' free insurance?  Good way of building up your no-claims bonus and also with a new car you get a minimum 3 year warranty.  

Good idea mate but I can't sell as it is on finance but as I say I am probs getting rid in June. I have tried to get them deals in the past but you need to have a clear licence and no accidents usually to get the free insurance deals 

[Peter]

I pay circa £750 a year with SAGA,  with a maximum no claims bonus and a limited mileage of 7000 miles a year.  I used to be with LV but they put it up by £120 one year with no explanation at all.

Petrol about £120 a month, Road Fund £260.

The biggest single cost for me is when I have to change the tyres - about £110 a tyre.

I would not be able to watch the Vikings without it, though.

[Torn Sock]

I found that there wasn't a significant fall once I got to 25 on the premium (also it isn't 25 but when you get to your renewal date) but you do lose the £250 "inexperienced driver" (had been driving 7 and a half years!) compulsory excess.

Bunch of robbing bounties!! Good luck

[col88]

I found that there wasn't a significant fall once I got to 25 on the premium (also it isn't 25 but when you get to your renewal date) but you do lose the £250 "inexperienced driver" (had been driving 7 and a half years!) compulsory excess.

Bunch of robbing bounties!! Good luck

  oh dear not looking good. Although hopefully by the time I'm 25 I will have another 2 years NCB and my points will be removed

[col88]

Sidetracking a little from the subject what do people think about these new cars running on electricity? I myself don't really see the point. Although I'm sure they will improve the spec in the coming years I think the maximum charge at the minute is 200 miles or something. But no matter what the maximum battery charge is I still don't really see the point because the cost of them (obviously with them being a new concept) is really high..the one I seen was £22000 and the car was really ugly..even without paying for petrol (say £180 a month) it would take 4/5 years of not paying petrol to recoup the extra price you paid for the car by which time you would probably want a new car anyway

[Peter]

The company car of choice from my previous employer is now the Toyota Prius.  It reduces the income tax liability tremendously, but it is a hybrid rather than just electrically powered.