i'm thinking of getting a car on finance because im p***ed off of buyin cars that just go boom on me.

basically i got banned from driving when i was 17, so now i'm only really able to get insured TPFT without insurance way too high.
so ive been looking into a few cars from dealerships but when i phone the insurance to enquire about prices etc they say i can only be insured at FC because the car is over X amount, but they are able to insure TPFT is the car i own is below X amount.

Now if i went about doing this (insuring the car lower than its value) is it illegal? or is it just stupid incase i have a crash etc and they won't pay the full amount of the car if i crash?

thanks

It wouldn't be illegal, but I dunno if it would invalidate your insurance, not certain, but I think they just wouldn't pay the full amount if you claim.

I've put a lower value for what my old car was worth and an independant inspector came to evaluate the value of the car and the cost of damage and declared it worth more than what I claimed it was worth.

Yer insurance companies will find anything to avoid paying out on nowadays... you have a crash, and you have told them the car was at a lower value than what you paid for it, and err errrrr you lose the car and it render's your insurance invalid.

The problem that it will actually be classed is summit like using deception to fraudualently obtain motor insurance... in other word's you won't have a leg to stand on, even moreso, because you bought the car on finance, so cannot disprove how much you paid for the car...

You can however get finance insurance, which means the finance will be paid in the event of an accident, but you would still end up with no car, and there is nothing to say that using deception to obtain motor insurance will not affect this either!!

so i would be able to insure it at a lower value, but if i have an accident i'm basically buggered? looks like i'm guna have to save and buy a car right-out then.

Fully comp will pay out to fix your car if you crash it

third party (FT) will pay nothing to fix your car anyway, only the things you hit. They will pay out if it burns or gets nicked.

Your choice on the risk v's affordability.

so basically its not illegal to under value the car, but if i crash and its my fault i'm basically buggered, but could still be ok if its not my fault?

nope its not illegal to under value your car...but not at all a good idea..esp if you have finance on it as you would still be liable for the difference.
...so all in all NOT advisable!
have you looked through a specialist insurance broker that deals with people with past convictions etc.... might be worth a try

here's a story for you pete...

Lad i work with had a Saxo 1.1 on finance, he paid 8 for the car in 1999, he drove the car for a couple of years all fine and dandy, he then went out and caused a crash (not sayin you will but you get the jist) he was only 3pf&t. his finance people said to take Fully comp but he did not. 9 years down the line he still owes 8k.

For the extra say 20quid a month for instance (what 8 pints?) you can be rest assured that even if their was a crash it will be covered.

How old are you pete? if you are under 21 don't some Dealers do a Free years insurance with their cars? Vauxhall, Citreon?

Pete,

Buying a car on finance won't cover you if it goes "boom" as you say.

I had an L-reg 306 XTDT that I bought on finance. It was 2 years old when I got it. In the first year it totalled up around 8-10k in warranty claims through the dealer. When I decided enough was enough, I looked at the resale value vs the Finance. I had to keep the car for another year before I could get rid and pay the finance off.

i'm 20 at the moment and 2 insure a car with a 1.2 engine i'm looking at 1300 TPFT. fully comp is in the region off 2800-3500. and thats with specialist insurers that deal with convicted drivers.

say for instance tho i took out finance and paid fully comp 4 the 1st year, but when its up 4 renewal the next year, the car will depreciate and you may change companies so would have 2 give all your details again you would then be able 2 re-value the car would'nt you?

you will have another 1 years no claims then pete so maybe your insurance will be cheaper?

just gave citroen a ring then. they do an offer of 1 years free insurance on the c2 vts models.

unfornuatley tho its not available until i'm 25 and i'm not allowed to have had any convictions/accidents within the previous 5 years.

so i think a trip to carcraft may be in order!!

don't do car craft pete they will have you off big time.

thought about a loan from the bank instead? cheaper intrest rates, also you will get a better deal with them when you pay with cash.

thought about the Fiesta Zetec S Mk6?

Why does everyone want to wizz round in the fastest car possible - if they can afford it or not ...

If your struggling to insure a car, get something with a smaller engine for a year or so, save your money and get something better at a later date.

Somewhere like car craft will still pull your pants down, and IIRC you have to insure the car still.

There are plenty of low ins group, nippy car out there...

fiesta mk6 zetec s is a group 8insurance as far as i know so hardly a record setter.

personally i would look at a cheap corsa 1.4, mk4 fiesta etc, plenty quick enough for your age.

my 53 plate vectra 1.8 sri is only a 7/8 !!!

My focus 1753cc turbo Diesel is a group 6, and may calibra 2000cc 16v is a group 14.

it's not always engine size they go on. The grouping takes into account how appealing the car is the a theif. they are more likely to staell a 1300 starlet turbo than a 1700 diesel astra.

Remember this when buying a car. if it looks pretty it's going to be a higher group.

I've just been ass raped for insurance.

Admiral turned out to be the cheapest for me with a big ass deposit of £450 followed by 10 monthly payments of £190.

fooking hate insurance , however car is now insured

gutted joe

i just tried money super market for a 4x4 i have my eye on

My 1.6 Astra MK4 SXI is 99bhp and only a group 6

I think my 1.8 114bhp carisma is about group 7 lol

The joys of a fast family car

IG doesnt always reflect the performance and doesnt always affect the insurance adversely... my 420 is a G12 insurance but a lot of that actually has to do with the fact that if it is in a crash, with it actually being Jap as it is a Honda Civic, repairs to bodywork etc cost a premium. The fact that it is more powerful across all engine's then competitor's at the time doesnt help, but it doesnt make that much difference.

Im paying £329 fully comp with breakdown cover/audio cover/NCB protection/windscreen cover on the Rover and im 21. So the insurance companies arnt always bad.

I suppose the Beemer is seen as a desirable car to thieve's, someone you're age is also probably blacklisted for driving such a car as it tend's to be boy racers and show off's who own beemers at you're age, and also you have you listed the modification's as they will see the performance mod's and instantly double the premium!

Joe, didnt you say you had a crash and lost your NCB before you got the beemer? As you are under 21, because you have once had to claim, you're insurance will remain high for quite a while.

It's shit, but they will see you as a major risk.

Fair point matty, it has some bearing on performance, but if Pete wants a car and the ability to insure it then a low ins group car is a good way to go.
the misus's corsa is something like group 2 for a 1.2
They drive pretty nicely for a diddy little car

Our Fiesta 1.4 is on an 04 plate and for me and the missus it's 7ton a year Fully comp in her name with my 2 bans declared.

oh and the cars a group 4 insured with swinton.

Focus 2.0's are only a Group 8, better mpg than the 1.8 and cheaper on the insurance. 1.8's are group 12 i think.

missus fiesta 1.3 is bout £320 fully comp, 10+ yrs ncb, 8000 miles driven a yr roughly (until i pass and that will soon change), declared sp30, and we live in a fairly quiet area with low crime rate