Car insurance question...

[Piggywinkle]

So... my fabulous stepdad has offered to give me his car as he's getting a new one. I've been looking for insurance policies but the monthly cost is putting me off. I have a few hundred pounds from a bit of luck that befell me lately. Does anyone know if I can voluntarily up the initial deposit in order to bring down the subsequent monthly payments?

 

[dgirllamius]

i think you can up your volantary excess and that'll bring the monthly payments down. I took some out a while ago and managed to get the monthly payment down a bit by putting 500 excess rather than 250

 

[beth_terri]

Not sure but you'd be best ringing them. Also DO NOT take the price you see on the Internet. Phone them and say so and so quoted you X amount can they beat it (we got ours £500 cheaper doing this!!!) xx

 

[Chezzz]

i couldnt when i wanted to with admiral same with diamond (same company though)

i hate paying it monthly, my policy is only £700 and i pay £79 a month totalling around £950!! but we couldnt afford the £700 upfront with LO this year

you may be able to with some companies. my deposit was only £79 x

 

[Piggywinkle]

i think you can up your volantary excess and that'll bring the monthly payments down. I took some out a while ago and managed to get the monthly payment down a bit by putting 500 excess rather than 250

I'd rather not bump up my voluntary excess as it already stands at £250 and the car is only worth £500 - In the event of an accident I'd probably be able to scrape £250 together but I would seriously struggle at £500

 

[Piggywinkle]

i couldnt when i wanted to with admiral same with diamond (same company though)

i hate paying it monthly, my policy is only £700 and i pay £79 a month totalling around £950!! but we couldnt afford the £700 upfront with LO this year

you may be able to with some companies. my deposit was only £79 x

The total payment using instalments is just over £600. They want around 80 deposit with 42ish a month for the next 11 months. I calculated that if they let me pay a deposit of £200 then it would bring my subsequent payments down to a more manageable level but I'm not sure if this is something that insurers will do. I only got the prices online tonight when it was too late to call them

 

[Chezzz]

i couldnt when i wanted to with admiral same with diamond (same company though)

i hate paying it monthly, my policy is only £700 and i pay £79 a month totalling around £950!! but we couldnt afford the £700 upfront with LO this year

you may be able to with some companies. my deposit was only £79 x

The total payment using instalments is just over £600. They want around 80 deposit with 42ish a month for the next 11 months. I calculated that if they let me pay a deposit of £200 then it would bring my subsequent payments down to a more manageable level but I'm not sure if this is something that insurers will do. I only got the prices online tonight when it was too late to call them

who was it with? most of these places are open until 10ish, but could ring them tomorrow.. admirial & diamond dont let you up to deposit though.. wish they did!! insurance is so bloody expensive.. i want to put my OH on my insurance.. they told me would make my monthly payments £147. they can bugger off at that price!!
eta: if your cars only worth £500 they'd probably write it off so i dont think your excess would matter would it? mines £500 but my cars worth a fair bit lol :/

 

[Piggywinkle]

i couldnt when i wanted to with admiral same with diamond (same company though)

i hate paying it monthly, my policy is only £700 and i pay £79 a month totalling around £950!! but we couldnt afford the £700 upfront with LO this year

you may be able to with some companies. my deposit was only £79 x

The total payment using instalments is just over £600. They want around 80 deposit with 42ish a month for the next 11 months. I calculated that if they let me pay a deposit of £200 then it would bring my subsequent payments down to a more manageable level but I'm not sure if this is something that insurers will do. I only got the prices online tonight when it was too late to call them

who was it with? most of these places are open until 10ish, but could ring them tomorrow.. admirial & diamond dont let you up to deposit though.. wish they did!! insurance is so bloody expensive.. i want to put my OH on my insurance.. they told me would make my monthly payments £147. they can bugger off at that price!!

It was a company called Premium Choice - they're only open until 8pm

I'm a named driver on DH's car so we checked with his insurance first. They wanted 110 a month more than we pay now! Cheeky gits.

 

[Mummy2B21]

I'd give them a call tomorrow 9/10 times the price changes when you do it over the phone where they ask for a bigger or smaller deposit but im sure they will be able to offer you a solution. My insurance is up for renewal middle of this month and I have been quoted £503 with a deposit of £132 and 10 monthly payments of around £37 this year that im just finishing was £80 deposit and 9 monthly payments of £77, so that shows my insurance now was alot more than my new quote but they wanted less deposit over longer months, so you could ask to put a bigger deposit and longer monthly payments x

 

[Tegans Mama]

I'd call them, but I do think that 40something a month is fine. My insurance on my 94 plate micra was £110 a month, but I was a new driver then

 

[Piggywinkle]

Turns out that most online/phone brokers can't alter the initial deposit. I have gone with the high street broker Swinton (actually called my local branch) who matched my lowest online quote and let me up my deposit to pay only £35 for the next ten months. Happy

Thank you all for your help

 

[Tegans Mama]

Glad you sorted it

 

[Chezzz]

Turns out that most online/phone brokers can't alter the initial deposit. I have gone with the high street broker Swinton (actually called my local branch) who matched my lowest online quote and let me up my deposit to pay only £35 for the next ten months. Happy

Thank you all for your help

ah thats brilliant