First time driver - Cheaper to buy a newer car for insurance?

Ninjavampire

When looking to buy a first car, would it work out cheaper to spend a couple of grand on a 10 year old car, or get something more affordable that falls within the 15 year bracket?

I've been reading the age makes a big difference on insurance but as someone with very little income, I'm trying to get a car as cheap as possible, looking at ones from 03 and 04.

For context I'm a 26 year old male who is waiting to get his full licence before I get insurance in my own name.

Special Circumstances

Ninjavampire wrote: »

When looking to buy a first car, would it work out cheaper to spend a couple of grand on a 10 year old car, or get something more affordable that falls within the 15 year bracket?

I've been reading the age makes a big difference on insurance but as someone with very little income, I'm trying to get a car as cheap as possible, looking at ones from 03 and 04.

For context I'm a 26 year old male who is waiting to get his full licence before I get insurance in my own name.

Age does make a difference, but the devil is in the detail.

Young, new licence = screwed.
30's, new licence = screwed. Possibly even worse.
The insurance guys assume you are a somebody with something to hide or somebody re-inventing themselves with a clean licence.

Hopefully you are just in some kind of magic sweet spot. Best of luck.



Hopefully this accurate summary of things said by insurance people will survive. Lately my accurate, correct and on-topic replies to peoples insurance questions have been going missing.



Weird huh?

Skatedude

You need a car less then 10 years old with a tiny engine (app 1L) on your own policy, Pay the sky high premium for a few years to get your no claims bonus which is everything .

And ffs, dont do anything stupid such as speeding or driving unaccompanied if you are a learner which could screw it up. pretty much the only way now.

pawrick

Main thing now seems to be to build up your no claims bonus followed by a small engine car which is less than 10 years old.

Try a few of the online quote generators to get an idea of what reduces your cost re experience and car type and it's age - get some random licence plate numbers off done deal to test it out. Some makes will cost more just because of their popularity with certain profiles and over all claim history for a particular model I've heard here.

Ninjavampire

So would it make more sense to pay say, 3 grand for an 07 car and get insured, or pay 1000 for an older car, like an 03, and try to get insured on it?

Liam McPoyle

Ninjavampire wrote: »

So would it make more sense to pay say, 3 grand for an 07 car and get insured, or pay 1000 for an older car, like an 03, and try to get insured on it?

Go with a newer car.

A lot of insurers won't quote for vehicles over 12 years of age.

You should always do pricing before you buy something though.

Atlantic Dawn

Car less than 10 years old would be best for starting off. Some insurers will cover cars 10-15 years, very few will cover cars over 15 years.