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

New website offers solution for hard up young drivers

Published 12 June 2013

Young drivers get a hard deal when it comes to getting on the road. According to Confused.com the average cost of insurance for a young driver is more than £2000 a year, and then there’s the cost of maintenance, repairs, tax and the car itself.

However insuredcarsonline.com promises to offer a solution, in part thanks to telematics based insurance which monitors driving and, according to insurethebox.com, can reduce accident rates by 40%. What’s more, buyers can drive away in a brand new car.

Insuredcarsonline.com offers buyers a choice of brand-new, dealer supplied car with protected three or four year insurance based financed with a low inital deposit. Monthly payments cover the car and the insurance, along with the tax disc, maintenance costs and tyres – and prices start at £169 per month. Cars offered include the Ford Fiesta and Vauxhall Corsa.

The telematics box and insurance are provided by Quartix and installation is free – with the benefit of there being no curfew, so drivers can drive when they have to. Insured Cars Online’s managing director, David Fitton, says: “People are starting to realise what a fantastic idea it is. Everybody is going to end up with telematics boxes in the end.”

 

Comments

Stu Stirrat    on 16 June 2013

Very interested in this - unfortunately at 16 June the InsuredCarsOnline web site is still under construction...

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