Buying Your First Car

You’ll know that feeling when you pass your driving test; no more buses, no more relying on Mum or Dad’s taxi, that next stage of independence. Of course, after the test, there’s the next step; buying your first car. Now some new drivers will head straight to the showroom for their first set of wheels, whilst others, like this writer, may wait a few years before buying a car.

Because it is common knowledge that motor insurers see young drivers as a very high risk, and premiums can make your eyes water. Even with a black box that monitors how well you drive, you’ll most likely not see a premium below £1,000! What’s even more alarming is if, say, you bought a 1997 Ford Fiesta at £200, the cheapest insurance you can get will set you back just over £2,500!

We reckon the Citroen C1, along with the Peugeot and Toyota counterparts, is perfect for a first car, with its high MPG and low maintenance costs. These are things you will want to consider when buying your first car. Some top tips when choosing an insurance-friendly car:

- Definitely avoid cars with larger engines, as your premium will sky rocket. That Fiesta ST will have to wait a bit, unless you reckon a premium of £5,600 is cheap! Also avoid cars with any kind of modifications; be they mechanical or cosmetic.

- Try and avoid cars with turbochargers, as these can have a negative impact on your premium. We got a quote for another Clio, same engine at 1.2l but turbocharged, and this put up the cheapest quote by nearly £200. Bizarrely the Ford Fiesta with the 1.0l Ecoboost (which is, essentially, a turbocharger), has similar premiums to the C1, although this may have something to do with Ford’s MyKey feature. (Restricts maximum speed to 80mph and the volume of the stereo, to name a couple of features)

- Insurers are also trying to discourage drivers from taking out third party cover due to higher risk; you will find third party quotes not including black boxes, for this reason.

- As mentioned before, having a more experienced driver as a named driver can drive down your premium, however having one of your parents down as the main driver and yourself as a named driver, when the opposite is true is a massive no-no. This is illegal and will, most certainly, result in the insurer not paying out.

- Increasing the voluntary excess can reduce your premium, though you also need to consider if you can afford to pay the excess if you need to claim. Many insurers require a compulsory excess, so you should look out for this as well. This varies greatly between insurers; some don’t require a compulsory excess, whereas others will require as much as £500, regardless of voluntary excess.

All in all, it’s worthwhile for you to shop around, ensuring that both the car and your first insurance premium fit within your budget. Don’t forget that, as long as you don’t have an accident, your insurance premium will be significantly cheaper in the second year, and so on.