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The motoring gutter...BenzBoy
@benzboy
Club Retro Rides Member 7
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Nov 11, 2010 19:56:03 GMT
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I've got a brand new Citroen C1 VTR+ leased for the Mrs for £100 deposit, £100 a month, 3 years warranty, no mot's, i'll not put tyres on it while I have, it does 65mpg and is group 1 insurance. It always starts and has lots of airbags. If you average it out on fuel and repairs you'll not run a car cheaper unless you're handy with the spanners and friendly with the local scrappy. I agree it's not for everyone but you know what you'll spend every month as it won't give you any un expected bills so you can spend the money on something you actually like, like my Rover. It keeps you out the gutter. I suppose everyone's circumstances are different, but if I had £100 a month to spend on a retro I'd be laughing, despite having to MOT it, fix it if/when it breaks etc. That's a fair old wedge. I realise that a new C1 is ideal for some people but to me that seems like an awful lot of money for the sake of not having to MOT your car for a bit. I would argue that you can run a retro car for much less than the monthly payments on a new car.
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Seth
South East
MorrisOxford TriumphMirald HillmanMinx BorgwardIsabellaCombi
Posts: 15,538
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Nov 11, 2010 20:04:10 GMT
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Indeed. That's a hundred pounds a month with no financial return whatsoever. Putting £100 a month towards a car with some inherent interest/value and you can eventually see it back.
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Follow your dreams or you might as well be a vegetable.
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Nov 11, 2010 20:24:54 GMT
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Yeah,i was worried about losing my no claims,so i have ended up having my mates k plate metro off him,so i can insure it on a normal policy.Its not all bad though as i can use it as a winter hack and save the escort getting ruined over winter
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Nov 11, 2010 20:29:14 GMT
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Ah, but you guys are handy with the spanners. When you're not it's not so great when it spits it's dummy out and you're stuck paying garage rates. When I ran an older car as a daily I started out with a lovely £1500 Carlton GSi 3000 and through stupidity, mechanical failure, rust and mis adventure I ended up running around in a £200 Sierra with a missing window that 4 weeks after I got it blew it's head gasket and was scrapped. I went from £1500 to 0 plus I spent maybe £300 trying to keep them on the road. I then had to get a loan for £500 quid (as I had no cash) to get a car to get to work that I ended up selling for £200. when it's failed it's MOT and I couldn't afford to fix it. That's the gutter.
I could have been running around in a new car for the money I spent never mind all the times I was late for work, broke down on the way to job interviews, was stuck on the hard shoulder in rush hour and had petrol p*ssing out a ruptured tank onto the garage forecourt. Now I get to have my SD1, use it a couple of days a week to get to work, take it to bits, faff about with it at my leisure and enjoy it.
This plan only works when a car's under manufacturer warranty though as 5-10 year old moderns can be the worst of both worlds.
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Nov 11, 2010 20:34:57 GMT
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I'm with buckingham insurance and have found them great so far.had a claim(non fault) last year and they couldn't have been more helpful,paid me out £875 on my transit that I considered scrap and I kept the van.they gave me a nice veedub t4 thingy,paid me up quickly and the passengers both got 1600-2000 in personal injury claims.
To a answer a few questions above,never heard about the vat registered bit,and I was!!I was always part time trader/no premises.best to be honest about what you do,it never made any major difference to my policy.they say you need evidence of trading but that could be anything really,I've sold 5 cars in the last few months that were never in my name,you don't tend to as a trader,so recipts would be fine. In our game,it's easy to move cars that possibly never existed if you know where I'm coming from,as said a lot of retros get broken at the end of their useful lives rather than sold on so that can be used as evidence of trading.
Their a great thing to have but as stated above be careful as to the restrictions on the policy.up until this year I've been able to drive anything other than cosworths(remnant from the 80's) but this year it was all manner of cars,subarus,evos,bentleys,rollers,m3's(oddly not m5/6???) Etc.
There were restrictions on the percentage of sporty cars(up to 25% of business),turbo cars etc etc.
It's not terrible but worth considering.It also mentioned older cars as well,but just restricted to tpo.
Cheap though,even as business use only £715 for me and the missus.she drives a merc ml and I had a grand Cherokee 4.0l at the time so it would have easily cost that.
Interestingly for another £200 I could basically be covered on anything so I may do that if circumstances change.
Great for taxing cars too as they don't need to be in your name so there's no hassle when selling.you can always charge people to tax a car for them as well!!!
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Nov 11, 2010 20:35:06 GMT
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Just watch the exclusions on a Trade policy if you've got a 'normal' day job to get to - more often than not, commuting to your day job will be excluded.
So then you've got to insure the commuter separately which kinda defeats the object.
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@pistonbroker on Twitter
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Nov 11, 2010 20:42:40 GMT
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Just watch the exclusions on a Trade policy if you've got a 'normal' day job to get to - more often than not, commuting to your day job will be excluded. So then you've got to insure the commuter separately which kinda defeats the object. All you have to do is say "please include SDC on it too" and they will.
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Nov 11, 2010 20:50:32 GMT
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and some exclude cover if the car is at home unless you specify "trading from home" or "home cover required".
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1941 Wolseley Not Rod - 1956 Humber Hawk - 1957 Daimler Conquest - 1966 Buick LeSabre - 1968 Plymouth Sport Fury - 1968 Ford Galaxie - 1969 Ford Country Squire - 1969 Mercury Marquis - 1970 Morris Minor - 1970 Buick Skylark - 1970 Ford Galaxie - 1971 Ford Galaxie - 1976 Continental Mark IV - 1976 Ford Capri - 1994 Ford Fiesta
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Nov 12, 2010 15:41:19 GMT
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I kinda like being in the motoring gutter.
The most i've ever paid for a car, was my Civic, 18 months back, £800, and thank the lord it's been a Gem, paid for it's self twice over in that time, I'm very happy. It's also where my 7 years NCB lives.
2-3 months back, i had a real fancy for a Volvo S60 D5! Why not, i'd always rolled old cars my whole life, now i had a bit of cash in the bank my girlfriend and i agree'd i deserved it. Insurance was a nice price, so hell to it. I drew £4000 out the bank (i was looking at a £4000 budget, around a 2002-2004, +/- £1000). I looked at a few cars, did my reserch. Then it came down to the fact i've been rolling £250 motors for soooooo long, i s**t my pants at the thought of spending THAT much of my hard earned savings on a car, a car that would prove no more reliable than my others, so i put the money in the bank, that was the end of that! I still want one, I'm just too damn scared to get one!
My two oldies, the fiesta and the Sierra, Both reliable, economical and cheap (sub £200 a year each to insure, classic car ghetto style, although the fiesta DOES earn NCB i can use on moderns later, the Sierra don't). Plus, worse comes to the worse, despite what i've spent over the years, if anything (god forbid) did happen to em, it's not a £4000 Volvo Sat with busted engine or wrecked or whatever.
I did go though a real rough patch with knackers a few years back, basicly mine got written off, i needed another ride fast! That's how that started, but I'm not like most of u lot, i don't change cars on a weekly/monthly basis when I'm bored, Change/buy them when there is a reason to. So I'm less likely to get stuck with a money pit, i stick to the same ones for the long term, i know them better, and get value for what i've spent on them. Not a dig at those who swap cars often, it's just how i do things ;D
Interesting thread ideas tho! I like!
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rob0r
East of England
Posts: 2,743
Club RR Member Number: 104
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The motoring gutter...rob0r
@rob0r
Club Retro Rides Member 104
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Nov 23, 2010 18:13:56 GMT
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As a followup to this thread... I took Dez's suggestion and tried to get some quotes for trade insurance. Norton came through with a policy which will cost me £870 - all modifications/ages/imports on a TPFT basis. I did it on the basis of selling and breaking, also declaring a premises (the farm) and my home. Currently I pay £750 between two E32s, and I also have two Land Rovers to consider insuring as well as my E21 project that will be coming on the road next Spring.
To be honest I'm pretty happy with that especially as most of my insurance headaches will disappear. If I use my NCB from my current personal policy, what will happen to them in the future if I finish the trade policy?
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E30 320i 3.5 - E23 730 - E3 3.0si - E21 316 M42 - E32 750i ETC
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Nov 23, 2010 19:28:45 GMT
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classic car policies won't cover you for commuting, plus with most companies you have to have an everyday car on a normal insurance policy.
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Seth
South East
MorrisOxford TriumphMirald HillmanMinx BorgwardIsabellaCombi
Posts: 15,538
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Nov 23, 2010 21:03:40 GMT
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classic car policies won't cover you for commuting, Yes they will!!!
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Follow your dreams or you might as well be a vegetable.
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stevea
Part of things
Posts: 281
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Nov 23, 2010 21:19:21 GMT
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I have two cars with Peter James insurance and despite not asking for it, commuting was included and un-limited mileage and it was still cheaper than the rest.
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Nov 23, 2010 21:23:49 GMT
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things must have changed then in the last few years
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Seth
South East
MorrisOxford TriumphMirald HillmanMinx BorgwardIsabellaCombi
Posts: 15,538
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Nov 23, 2010 21:25:38 GMT
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things must have changed then in the last few years Well, I've never had a problem in 18 years...
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Follow your dreams or you might as well be a vegetable.
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rob0r
East of England
Posts: 2,743
Club RR Member Number: 104
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The motoring gutter...rob0r
@rob0r
Club Retro Rides Member 104
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Nov 23, 2010 22:26:50 GMT
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I don't really need commuting since I work from home and when I don't I have a company hire car, in the near future I will be getting a proper company car.
Another reason why it's so tempting is the fact I'll have no fuss with modifications - what a breath of fresh air!!
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E30 320i 3.5 - E23 730 - E3 3.0si - E21 316 M42 - E32 750i ETC
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skinnylew
Club Retro Rides Member
Posts: 5,623
Club RR Member Number: 11
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The motoring gutter...skinnylew
@skinnylew
Club Retro Rides Member 11
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Modern daily for no claims duties and abuse, classic policy for occasional use and enjoyment. Well it works for me
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Cheapest quote i could get for trade insurance was about 800 quid, that probaly sounds reasonable to some of you but i got a quote off Highway on their specialist 4x4 policy for the Vitara for £160 fully comp in the end, for 200 they'll throw in breakdown cover that includes home start and as its a 4x4 policy, its covered off road, for both damage and breakdowns, I'm actually wondering what sort of AA van they'd send out if i was half way up Ben Nevis with a broken axle.
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Volvo back as my main squeeze, more boost and some interior goodies on the way.
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