Congratulations, you’ve obtained your provisional, or even your full licence and the much-anticipated time has come for you to invest in your first car. Unfortunately, the cost of the car is the least of your troubles; you may think you’re saving a fortune by purchasing a good ole-fixer-upper; when in fact, this approach could accelerate the cost of your insurance premium, especially in Ireland. As featured in the Irish Times, we have brought you some top tips on what to consider when making your first car purchase. Read our guide below.
Engine Size & Model
It is always best to go for a smaller engine size, particularly as a learner driver. Cars with lower engine sizes measure at a lower risk so in-turn, your insurance premium may be cheaper. Some of the old-reliables consist of the Opel Corsa, Renault Clio, Volkswagen Polo, Ford Fiesta and VW Polo. The newer the model, the cheaper your insurance premium is likely to be.
Have you ever considered driving green? Purchasing an electric car may seem expensive but there is far less cost involved when you drive eco-friendly cars. There are fewer fuel costs involved, insurance is usually significantly less and the government provides multiple incentives to help reduce your motoring expenses. Plus your road tax will we be cheaper too. We understand the restrictions associated with e-driving, such as lack of charging docks and the initial cost. However, if it suits your lifestyle, why not go for it? You’d be saving yourself cash while simultaneously saving the environment. It’s a win-win really?
If you’re not in a position to go green, improvise by purchasing a hybrid or make sure to research the fuel efficiency of whatever car you decide to purchase.
Ask For Different Quotes for Different Cars
Jonathan Hehir, Managing Director of Coverinaclick.ie, advises not to be afraid of asking for multiple quotes when shopping around for car insurance. If you are unsure of what model to go for, ask your insurance broker for multiple quotes; you may be surprised at which ones come out cheapest.
“Don’t be afraid to ask for different quotes for various cars. Check the differences between third-party fire and theft and comprehensive, according to the value of the vehicle. And remember that some insurance companies specialising in insuring young drivers are only available through certain brokers.”
Make sure you purchase from a reliable seller
Whether you choose to purchase from a used car dealership or go privately, it is crucial you perform extensive research before buying. Ensure you purchase from a reputable dealership or buy somebody you know. If you are not in a position to do this, bring somebody along with you to view potential purchases, preferably someone with experience in car shopping.
Try Not to Purchase Cars Over 10 Years Old
One of the biggest issues in insurance right now is that Irish insurers are reluctant to cover, or outright refuse to insure cars that are over 10 years old. This policy, grounded in actuarial data, penalises at the youngest, and most cost-conscious, motorists.
You should also be wary of the mileage your first car has racked up. The more mileage, the less valuable (usually). It’s possible the previous owner drove his car for 5 years and only drove 5,000km, while it is equally as possible that a previous owner racked up twice that, in half the amount of time. Its also important to find out how well kept the car was, how regularly was it serviced and does it have an up to date NCT certificate.
Has this blog made your decision easier? Check out other blog on how to save money on your car insurance.
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