Getting into a 550...

[ingelow]

Slightly odd post this folks, been lurking here for a long while but only just signed up...

I've lived in London for a long time, and have only just acquired a driving licence, I'm 27 now and have always put off car ownership as I've wanted something a bit special as a first car (bad plan it seems . Definitely not a boy racer, just want something which will allow me to appreciate driving (I've driven a fair bit before, just not on the road).

I've been looking at the 550 (always been a goal of mine, doubt I'd ever sell it, plan to do quite a few miles) as I favour that shape over pretty much any modern Ferrari and there's a few too many Porsches round my way - nice to be a bit different, but still understated (would love a Lambo, but maybe in a few years . Plan to take it easy for a few years, get used to driving at a slower pace before maybe getting into something else.

Now, I'm pretty sure the answer to this is going to be 'not likely' but I thought I'd ask all the same. Is there any way I can pick up a 550, park it on the street (Live in a flat with no underground carpark in a decent area and have read that a few do this), have zero no-claims and NOT pay arount 9 grand in yearly insurance?

Failing that, is there any other way to get the insurance down (I could afford it, but I don't want to chuck 10 grand a year away that could be better spent)? Something like pass plus or the equivalent?

The other option is something like ecurie / P1 which would probably suit me - but I doubt they'd touch someone with no experience (although I gather with P1 they give you lessons in how to deal with powerful cars)? I'd also need to have a little run-around to build up the no claims at the same time presumably.

If not, I suppose I'll just have to pick up an Audi or something for a couple of years, depressing thought

Thanks for any opinions - sorry if it's a bit of a ramble.

[Erik997]

Been there - bought my first car in the UK two years ago and got no credit for my foreign insurance policies (thats a whole different story..). Meant trying to insure a £65k+ Porsche with zero no claims, central London postcode, car parked on the street at the age of 28.

Most insurance firms wouldn't touch me (incl. Porsche themselves) and some of the quotes were £6-7k.

In the end the best deal by far was the CHUBB Masterpiece policy through Cheam Insurance Brokers (give them a call). Probably the best policy out there anyway (do a search to find out more) so I was very happy. It can be done but you will still pay a lot.

Sounds like an ambitious plan - good luck with it!.

Cheers.

[Thorny]

Also try Chris at Michael Ward associates - should be able to sort you out with something.

Re P1 i was a member for a yr and loved it and yes you do get driver training which you have to 'pass' if you are under 30 (I am) but it is a really enjoyable half day and you will be fine with that. They do ask you things like what were your last three cars though so not sure how your situation would be taken but give them a ring and see - they are a really nice bunch and i don't think their membership is full...

[ingelow]

Thorny said:

Also try Chris at Michael Ward associates - should be able to sort you out with something.

Re P1 i was a member for a yr and loved it and yes you do get driver training which you have to 'pass' if you are under 30 (I am) but it is a really enjoyable half day and you will be fine with that. They do ask you things like what were your last three cars though so not sure how your situation would be taken but give them a ring and see - they are a really nice bunch and i don't think their membership is full...

Yeah I've been thinking about that more and more actually - insure a little run around and use it as a daily driver - to build up the no claims. Then a P1 (seems a lot better deal than the ecurie equivalent to be honest) membership for a year. The advantage I've always seen there being you get a crack in a lot of different cars which might put me in mind for what I'd like to get into when it comes round to buying. Bit worried about the really top end stuff with my limited driving experience mind you.

Thorny, did you go from P1 to buying something specific if you don't mind me asking? Did you find it a good way of test driving the cars or was it too short a period in each? (you'd want to try them all right? )

I still think I'd want the 550 eventually though - I just love the shape. I'll give both those insurance recommendations a call in a bit and see what they say - fingers crossed. Thanks both for your help.

[bob-in-toon]

One little thing to bear in mind - be careful. I don't know how much driving experience you have but you wanna be careful jumping into such a powerful car straight away. My first car was a 1.8 beemer, not particualrly powerful and over the last 6 or so years i've worked my way up in engine size. And after having owned an M3, an esprit and now a 348 I can say that if I had had one of those cars as my first I probably wouldn't be here today to talk about it!

Good luck with the 550 though! - you should try confused.com, I tend to find them pretty good. Also Tesco used to be for me, not sure what they're like now

Cheers

[Troesma]

Thorny said:

Also try Chris at Michael Ward associates - should be able to sort you out with something.

Top bloke, he'll get you sorted

If you're serious about driving, maybe take a driving coaching course like those offered by HPC gatekeeprs; maybe expensive, but you won't regret it.

But regardless, the highest skill in driving (and the one most overlooked) is to know your limits.

Good luck.

[RogerB]

Ingelow - do you know what part of London you'll be in?? if relatively central you will be well served by using Masterpark's facilities (privately owned ex-NCPs offering 80% season ticket discounts to local residents), it will reduce your premium by 50% I would think - it did for my 550 parked in SW1.

[Anjum]

ingelow said:

Slightly odd post this folks, been lurking here for a long while but only just signed up...

I've lived in London for a long time, and have only just acquired a driving licence, I'm 27 now and have always put off car ownership as I've wanted something a bit special as a first car (bad plan it seems . Definitely not a boy racer, just want something which will allow me to appreciate driving (I've driven a fair bit before, just not on the road).

I've been looking at the 550 (always been a goal of mine, doubt I'd ever sell it, plan to do quite a few miles) as I favour that shape over pretty much any modern Ferrari and there's a few too many Porsches round my way - nice to be a bit different, but still understated (would love a Lambo, but maybe in a few years . Plan to take it easy for a few years, get used to driving at a slower pace before maybe getting into something else.

Now, I'm pretty sure the answer to this is going to be 'not likely' but I thought I'd ask all the same. Is there any way I can pick up a 550, park it on the street (Live in a flat with no underground carpark in a decent area and have read that a few do this), have zero no-claims and NOT pay arount 9 grand in yearly insurance?

Failing that, is there any other way to get the insurance down (I could afford it, but I don't want to chuck 10 grand a year away that could be better spent)? Something like pass plus or the equivalent?

The other option is something like ecurie / P1 which would probably suit me - but I doubt they'd touch someone with no experience (although I gather with P1 they give you lessons in how to deal with powerful cars)? I'd also need to have a little run-around to build up the no claims at the same time presumably.

If not, I suppose I'll just have to pick up an Audi or something for a couple of years, depressing thought

Thanks for any opinions - sorry if it's a bit of a ramble.

Couple of things:

i) Driving the 550 in town will not be a problem - easy to drive, great visibility - and you wont go fast!

ii) Leaving it on a street is not a big issue - I left mine and several Lambo's parked on a street in Balham - with no issues.

iii) Insurance shouldn't be more than 4-5K - with 0% no claims - really - the value of the car will be somewhere between 40-70K max. But you will defo. need a tracker.

iv) Don't forget to take the 550 around tracks - you'll be gobsmacked at how flattering the car is. And as it is probably one of the best GT cars ever made - so you must do all the european track days you can, travelling in comfort and style!

Enjoy!

Anjum

[Thorny]

ingelow said:

Thorny said:

Also try Chris at Michael Ward associates - should be able to sort you out with something.

Re P1 i was a member for a yr and loved it and yes you do get driver training which you have to 'pass' if you are under 30 (I am) but it is a really enjoyable half day and you will be fine with that. They do ask you things like what were your last three cars though so not sure how your situation would be taken but give them a ring and see - they are a really nice bunch and i don't think their membership is full...

Yeah I've been thinking about that more and more actually - insure a little run around and use it as a daily driver - to build up the no claims. Then a P1 (seems a lot better deal than the ecurie equivalent to be honest) membership for a year. The advantage I've always seen there being you get a crack in a lot of different cars which might put me in mind for what I'd like to get into when it comes round to buying. Bit worried about the really top end stuff with my limited driving experience mind you.

Thorny, did you go from P1 to buying something specific if you don't mind me asking? Did you find it a good way of test driving the cars or was it too short a period in each? (you'd want to try them all right? )

I still think I'd want the 550 eventually though - I just love the shape. I'll give both those insurance recommendations a call in a bit and see what they say - fingers crossed. Thanks both for your help.

That was actually my plan, join P1 as a 'test drive exercise' and see what I liked, the conclusion I came to was that the cars were awesome but there were few I'd want to own and drive daily - those were 997, M5/M6 and AMV8 - wnt for 997 (which i'd owned prior to P1 too). While I was in P1 i had a Range Rover Sport which was great, practical car normally and fun supercars whenever I wanted!

[ingelow]

Troesma said:

Thorny said:

Also try Chris at Michael Ward associates - should be able to sort you out with something.

Top bloke, he'll get you sorted

If you're serious about driving, maybe take a driving coaching course like those offered by HPC gatekeeprs; maybe expensive, but you won't regret it.

But regardless, the highest skill in driving (and the one most overlooked) is to know your limits.

Good luck.

bob-in-toon said:

One little thing to bear in mind - be careful. I don't know how much driving experience you have but you wanna be careful jumping into such a powerful car straight away. My first car was a 1.8 beemer, not particualrly powerful and over the last 6 or so years i've worked my way up in engine size. And after having owned an M3, an esprit and now a 348 I can say that if I had had one of those cars as my first I probably wouldn't be here today to talk about it!

Good luck with the 550 though! - you should try confused.com, I tend to find them pretty good. Also Tesco used to be for me, not sure what they're like now

Cheers

Careful is right - I think I'd be too scared thrash this on the road Those gatekeeper courses sound very interesting. Does anyone on here have any experience with them - they don't seem too expensive, and I'd definitely be willing to try one if people think they're worthwhile? (they look a bit on the 'limit' side of things though). I don't suppose having completed one of those would help with the premiums?

I suppose if I went the P1 route, I could build up to it in the lower class cars - although that doesn't really help with the overall road hours / experience...

[ingelow]

One other thing I forgot to ask (sorry for the long list), I've seen it mentioned that being a member of a car club can help insurance wise - obviously I've seen the LCUK stuff on here, is there an equivalent anyone could recommend for a 550?

Thanks for all your thoughts guys - very much appreciated.

[rs48635]

Don't give up on the no claims route.
I got my first car when I was 27, but had previously been driving on my girlfriend's policy. Rang her insurer for a quote when i got my own car, and they matched her 60% no claims on my first ever policy. Jurassic Park!