insurance on 16 year old

Kannon

Hi,
Is there anyone that will insure a 16-year old vehicle. I've an option to buy a 1992 520 BMW but i can't seem to get a quote online. I'm 28 this month, have a full licence for a year and a half, no penalty points or anything. will be my first car insurance not as a named driver. anyone any ideas?
Thanks.

ShayK1

i just put in those details into www.quinn-direct.ie and it came back with €1,320.82

Fey!

I couldn't get a quote from AXA as my car is more than 3 years old.

Couldn't get a quote from Hibernian as I had a claim (€2k) 2 years ago.

peasant

Insurance broker is the way to go.

Most of the insurances quick quote facilities (phone / internet) are not geared towards dealing with anything outside the ordinary.

My yoke is 18 years old and LHD ..only got insurance because the broker twisted a few arms.

Profiler

I got a very good deal from a Broker on my first insurance as Policy Holder.

I went to Hibernian as that is who I was a named driver on my Parents policy with they said despite the fact that I had 7 years accident free they would only give me a 20% NCB.

Went to a broker who got me 50% NCB with... Hibernian :eek:

Difference in price was over €250 :rolleyes:

Guy:Incognito

Are you sure it's not your lack of NCB thats not getting you a quote?. The online systems tend to not quote for people with little /no experience and you have to ring instead.

I've never had a problem getting quotes online or otherwise for older cars.

Kannon

thanks lads. i rang quinn direct and they gave me a quote of €930.

A 16-year old BMW. what are the risks with getting a car like this? are BMW's any more troublesome than other cars when they get older? i'm just wondering what type of risks would be associated with getting an older car like this?

peasant

The biggest risk with any old car is neglect.

Cars from the early nineties generally speaking are quite durable. Engineering was solid by then, electronics minimal and most manufacturers had tamed the rust somewhat.

As these cars get older and loose value and (in Ireland especially) fall out of the market, the danger is that they end up with somebody who just wants a cheap car and not invest in anything but petrol for driving it. Service intervals get longer and longer, minor repairs aren't done until they grow into major ones and then the car is gotten rid off.

Take someone along who knows about cars, read up on the internet about the typical weak points for this model and then go over it with a fine tooth comb.

With something that old, it's got to be either in very good nick or you don't buy it at all (unless you can get it so cheap that sinking a few hundred into it for repairs won't matter)

Kannon

Thanks Peasant.

Well my mate told me he knows someone who is selling a 1992 BMW 520 for €1,000, with 46,000 miles on the clock (i think it was used just to drive to church on a sunday etc). This sounds like very little mileage to me, which would leave me wondering why it is so cheap. Possibly its just because it is this old. I looked around on carzone etc and there are a few around €1,200 / €1,500. I would relish the chance to own one of these, but it would be my first car and i'm a little concerned that it could look good on the outside but could be a sihtheap mechanically. I need a car though and this seems like a good opportunity. Tough decision.

peasant

Low mileage is one thing, low service is another.

Going by mileage alone, this thing could still be on it's second or third oil change ...which definetly isn't good enough for 16 years

colm_mcm

try First Ireland. they're excellent.

Guy:Incognito

peasant wrote: »

Low mileage is one thing, low service is another.

Going by mileage alone, this thing could still be on it's second or third oil change ...which definetly isn't good enough for 16 years

Has that engine got a timeign belt? If so it most likely hasnt been chanegd and you can probably see through it at this stage.