Is your car your pride and joy, or are you ready for a change? Let us know and you could win a £300 John Lewis voucher | No thanks

Buying the right used car 'crucial for car insurance deals'

Wed, 02 Dec 2009
Young drivers and their parents have been advised to buy a used car that will net them savings when it comes to car insurance.

Representative of cover firm Gocompare.com Lee Griffin said: "The choice of car can make a dramatic difference."

He also noted that for some youngsters whose parents were paying for their autos, being added onto their policy could be the best choice.

"Insuring a slightly older car on a third party, fire and theft basis could be the most pragmatic solution," he commented.

His words could be of interested to the 13 per cent of mothers and fathers the firm revealed were put off getting a car for their children because of the cost of cover.

Mr Griffin noted that with lessons and purchase amounting to some £5,731, many parents were discouraged from making that investment.

Last month, the AA revealed research findings suggesting car insurance premiums were rising at the fastest rate since 1994.

At the time, director Simon Douglas expressed concerns that cover was becoming unaffordable for young drivers.

If you want to know how to find the best deal for your car insurance, finance or warranty, visit our car insurance calculator.
ADNFCR-1081-ID-19490782-ADNFCR

Comments

Add a comment

 

Ask Honest John

Value my car

Amount to borrow
Sorry. The minimum loan amount is £1000
To pay back over

My credit score

Best available rate 9.20%

Total repayment £8,930.17

Total cost of credit £1,430.17

£186.05

48 monthly payments

Apply now

Representative example

Borrowing £7,500 over 4 years with a representative APR of 25.4%, an annual interest rate of 25.4% (Fixed) and a deposit of £0.00, the amount payable would be £239.77 per month, with a total cost of credit of £4,008.96 and a total amount payable of £11,508.96.

CarFinance 247 Limited is acting as an independent credit broker

Universal Square, Devonshire Street North, Manchester, M12 6JH