Insurance - 20 year old, E36 M3

[MiniMadMike]

Hi all,

Am currently after a new car, got 4k to play with and have found i can get an E36 M3 for that, which would be exactly the sort of thing i am after. However, after an initial play on gocompare.com I cant get the insurance cost below 3k! Can anyone suggest any ways of getting that price down? Maybe any good companies that might insure me cheaper? I live in a good area, no claims or convictions, car will be garaged etc. One thing ive been thinking - im 19 at the moment, turning 20 in a couple of weeks. If i wait to get insurance when im 20, do you think it would be much cheaper?

Thanks.

Mike.

[MiniMadMike]

I see. I managed to get it to £2700 with my mum and dad on the policy. I dont think its going to go much lower than that. I suppose now its just a question of whether i can really justify that sort of expense. It would be awesome to have a car like that, its just so much money to insure. I suppose i'll have to have a think. A

[MiniMadMike]

Hmm I understand your thoughts - I suppose I wouldnt want to peak too early so to speak. I was looking at E46 320i's before - thoughts on those?

[MiniMadMike]

Hello, sorry I haven't seen the replies until now.

Taken all comments on board - good advice but regarding keeping with hatchbacks until I'm older - I've had a couple of hatchbacks, then a couple of company BMWs which this car will be replacing, I don't really want to take a backwards step. After much investigation I have now decided on an E46 330ci. They are fairly high mileage examples, but I should be able to get a decent SE model with fewer than 100k miles for my budget. Insurance is £1600 which i think is very reasonable. Should be a good motor for a few years until I can get into an M3, or maybe a Boxster or something. Thanks for the useful info though guys, much appreciated.