Insurance on an M3

[Jonjo]

Car insurance is up for renewal on 18th feb, so naturally the car hunt begins again. Was looking at cupra Rs a while back but after having a scan around on some insurance sites some bigger, better cars are coming into my insurance price range. Im 21 at the minute and (touch wood) will have 5 years NCB come feb 18th.
Ive just had an insurance quote for a 2002 bmw m3 come back to me at pennies over £800.
Its with bell insurance and the excess is high at £750. Now im doing this quotes as if I have the 5 years ncb now. With insurance prices set to change for men next month, maybe going down a bit. Im really toying with an m3 now. Just need to sit down and smack myself round the head while looking at running costs. I only do about 500-600 miles a month, some months alot less.

SHALL I?:slayer: atleast a 330ci sport anyway.

 

[Ziggy122]

can you really afford the £750 excess should you have to start a claim?

Im paying the same £800 but i refuse to pay £400 some insurance companies want for me + any volentary excess they want me to pay as well

Ziggy

 

[Most Easterly Pandas]

can you really afford the £750 excess should you have to start a claim?

Im paying the same £800 but i refuse to pay £400 some insurance companies want for me + any volentary excess they want me to pay as well

Ziggy

A matter of weighing up the value of the car and if it would be worth OP ever making a claim. Don't have to claim and pay the excess.

 

[Jonjo]

A matter of weighing up the value of the car and if it would be worth OP ever making a claim. Don't have to claim and pay the excess.

Car value being £7-£7500

£750 excess isn't really a problem either.

Dont want any comments like "your only 21, you will only crash it" comments either

 

[Ziggy122]

Car value being £7-£7500

£750 excess isn't really a problem either.

Dont want any comments like "your only 21, you will only crash it" comments either

Nobody has said such

tbh - if you've been driving for 5 years like me and had no accidents because you behaved then i do think its fair if you have the cash to enjoy a nice motor

I love my punto too much anyway

Ziggy

 

[Jonjo]

I know, but there are a few on forums who like to pick on the younger drivers as soon as they hint at performance.

No digs at anyone who has posted so far because the majority of the forum are accepting.

Going to start car shopping middle of Jan, relook at insurance then and see where it goes.

 

[Ffoxy]

On the weekend, just for fun, I looked on "Confused" to see what my Insurance would be on a brand new 62 plate Focus RS, £29,000, 300Bhp.

£149!

Comp, Protected NCD, £150 excess, Hire car, windscreen covered & legal cover.

Still wont be buying a Ford, but interesting.

 

[Ziggy122]

i like to play with insurance quotes for amusements

a 1.2 8v (60BHP) is about 800 for me
yet a 1.4 16v (95+Bhp) is only 850......

£50 for an extra 50% - Sounds sweet!

ziggy

 

[ChrisUK]

I'd say do it but the E46 3 series is ****e, Even in M3 guise. Unless you get a 100% clean model it will be nothing but expensive misery in the garage every other week with sensor / electronic faults.

Absolutely nothing is accessible in the engine bay either making every little job very expensive.

 

[TallTom]

Jonjo,

Only thing I have to say really is insurance is about 1/3 of the rough running cost every year.

Get what you can afford to run! All the parts will have what people call "M" tax on them, but they are only built for that car so would expect build costs to be higher.

For example look at a OEM front disk and pads and the cost of the parts before labour.

I could buy an M3 and run it, but it would cost me a fortune (for what in comparison) and I want to have more disposable income first!



Quick "Man Maths"

Quick really simple example for you, my Abarth Vs the 1.2, like for like replacements on brakes

My front Pads £120, Disks are around £300 I think, then the "Labour"

1.2 Say £100-£150 if that for parts, and roughly same labour

Then look at tyre costs and know that you will mince the first set getting used to the throttle modulation

 

[Jonjo]

Jonjo,

Only thing I have to say really is insurance is about 1/3 of the rough running cost every year.

Get what you can afford to run! All the parts will have what people call "M" tax on them, but they are only built for that car so would expect build costs to be higher.

For example look at a OEM front disk and pads and the cost of the parts before labour.

I could buy an M3 and run it, but it would cost me a fortune (for what in comparison) and I want to have more disposable income first!



Quick "Man Maths"

Quick really simple example for you, my Abarth Vs the 1.2, like for like replacements on brakes

My front Pads £120, Disks are around £300 I think, then the "Labour"

1.2 Say £100-£150 if that for parts, and roughly same labour

Then look at tyre costs and know that you will mince the first set getting used to the throttle modulation

I know, I know!
have a family friend who is a BMW mechanic/technician (whatever they call them these days) so there is discount to be had there.
I will weigh up the options in January and see what position i'm in.

 

[TallTom]

I know, I know!
have a family friend who is a BMW mechanic/technician (whatever they call them these days) so there is discount to be had there.
I will weigh up the options in January and see what position i'm in.

Yes discount for the labour is good, I mean pads and discs you can do yourself.

Parts, the discount could be say 33% but they are still going to be I reckon at least 300% of the part value of said 1.2 grande punto, or old escort!

P.S they wont get you discounts on tyres, last I checked decent one are £200 a corner roughly and the last thing you would want is a £90 corner tyre on a powerful car in the winter.....