Insurance pricing me out of an M4 at 29 YRs old??

[cerb4.5lee]

Mr Tidy said:

James6112 said:

thebraketester said:

How much did you expect it to be? What's a reasonable amount in your opinion?

£500 a year

Dream on.

I was paying nearly that to insure a 2.8i Capri when I was 29, and that was in 1988!

I remember not even being able to afford to insure a Fiesta RS Turbo back in 1993...all 130bhp of it!

I was completely gutted in all honesty at the time, and I ended up in a 2.9 Sierra XR4x4 instead. Don't get me wrong I loved the XR4x4(and it had 150bhp in fairness), however the Fiesta RS Turbo was the car that I really wanted though for sure at the time.

I genuinely feel for the younger generation nowadays though, because how the hell do they get into anything quick now?

[Mr Tidy]

cerb4.5lee said:

I genuinely feel for the younger generation nowadays though, because how the hell do they get into anything quick now?

I don't really!

They get there by giving up other things like I had to.

[cerb4.5lee]

Mr Tidy said:

cerb4.5lee said:

I genuinely feel for the younger generation nowadays though, because how the hell do they get into anything quick now?

I don't really!

They get there by giving up other things like I had to.

That is so true for sure!

Everything seems to be a given now I reckon. Gosh we're old farts!

[richhead]

cerb4.5lee said:

Mr Tidy said:

cerb4.5lee said:

I genuinely feel for the younger generation nowadays though, because how the hell do they get into anything quick now?

I don't really!

They get there by giving up other things like I had to.

That is so true for sure!

Everything seems to be a given now I reckon. Gosh we're old farts!

old farts maybe, but dont expect something for nothing, to the op, doesnt sound too much to me, 29 with a quick car, its going to cost, it always has. maybe look at a different car.

[TwigtheWonderkid]

AyBee said:

SuperPav said:

£200 a month/£2k a year does not strike me as a ridiculous insurance cost for an M4 for a sub-30 year old..

Maths/reading not your strong point? £230/month and there are 12 months in a year - £2.8k!

I wouldn't be at all surprised if £2800 if paid over 12 months becomes £2000/year if paid annually.

[fatjon]

Mr Tidy said:

Dream on.

I was paying nearly that to insure a 2.8i Capri when I was 29, and that was in 1988!

I pay less than that for an AMG A45S, supra 3.0T, a Cerbera 4.5 and an EV6 GT.

[Shiv_P]

I am 25, will probably be paying ~£1500 this year for an M2, and £300 for a 2005 Fiesta, and I have a fault claim 3 years ago!
I think it is very largely postcode & job description dependent

[Crudeoink]

I know this is PH, but, if you haven't already bought your own flat / home, you probably shouldn't be spending £2.8k/year on car insurance!

[Alex_225]

Shiv_P said:

I think it is very largely postcode & job description dependent

I've always worked in IT and regardless of sectors I've not noticed any changes, but I'm sure jobs make a difference.

One thing I did realise was post code. Chap on another forum was saying how much his insurance was on something like an E63 AMG and blamed his postcode. I was skeptical so did a price comparison and despite me living on the edge of a London Borough/Surrey it was half a quote using his postcode which was Manchester. I had no idea premiums were that hugely affected by it.

I can't grumble too much, I just bought a Saab 9-3 admittedly it's hardly a rocket ship (although 280bhp/4WD) and definitely not a theft magnet but Esure were willing to match my 13 years no claims on another car I have and it came in at £220 for the year.

[Steve H]

Mr Tidy said:

cerb4.5lee said:

I genuinely feel for the younger generation nowadays though, because how the hell do they get into anything quick now?

I don't really!

They get there by giving up other things like I had to.

How do they get into anything quick? A slightly warmed up Fiesta now is far quicker than the "performance’ stuff we used to drive!

The OP is looking at a car which goes better/faster/further than anything that was available in the late 80s when we were paying £500 (£1800 in todays money) to insure some stbox that managed half the performance with half the comfort, half the economy (ok that mattered less at under a quid a gallon ), with a tenth of the toys and would fold up like a paper bag when we stacked it .

But it was fun, and no speed cameras .



OP, I would say the same as others have, look at a 718 Cayman. Not as many ponies but a much more special car and a lovely thing to own .

[AmyRichardson]

cerb4.5lee said:

I remember not even being able to afford to insure a Fiesta RS Turbo back in 1993...all 130bhp of it!

.....

I genuinely feel for the younger generation nowadays though, because how the hell do they get into anything quick now?

In fairness just about any 1.6t hatch of today would wreck most "quick" everyman cars from 20-30 years ago, and most working 20-somethings can cover such an expense.

We're not talking about quick cars, we're talking about a near £100k, near 500hp machine that would have been a supercar slayer not many years back. Expensive for someone under 30 insure? And in other news...

[Avenicus]

Interesting ref BMWs.... I went from a 2014 VW Golf GTi to a 2017 BMW 540i touring and insurance doubled

[Pica-Pica]

Avenicus said:

Interesting ref BMWs.... I went from a 2014 VW Golf GTi to a 2017 BMW 540i touring and insurance doubled

New car, bigger car, more complex car, I would suggest.

[Donbot]

Seems mad to be paying insurance monthly on a £30k car. It's often around 30% APR.

I thought only desperate people do that.

[MightyBadger]

It will be cheaper for you to insure when you turn 30.

[alscar]

Donbot said:

Seems mad to be paying insurance monthly on a £30k car. It's often around 30% APR.

I thought only desperate people do that.

Agree. Just checked my Chubb policy renewal and for 12 instalments ,overall premium increases by 4% - APR for such is 7.6%.

[thelostboy]

Personally think the M4 is a bit of a chav chariot - and I've had one! The 4-door M3 looks better, and avoids the Bradford image.

If you're really keen, have you compared to an M2 just to see if it's the M4?

How about the modern classic variant, and way cooler 1M?

[Donbot]

alscar said:

Donbot said:

Seems mad to be paying insurance monthly on a £30k car. It's often around 30% APR.

I thought only desperate people do that.

Agree. Just checked my Chubb policy renewal and for 12 instalments ,overall premium increases by 4% - APR for such is 7.6%.

That's pretty good as far as monthly payments go. Whenever I've looked at the option the uplift is comical.

[alscar]

Donbot said:

That's pretty good as far as monthly payments go. Whenever I've looked at the option the uplift is comical.

Perhaps Chubb thought they are charging me so much already that any uplift might be too much of a p*ss take !

[Donbot]

alscar said:

Perhaps Chubb thought they are charging me so much already that any uplift might be too much of a p*ss take !

Haha maybe