Temporary insurance/tax etc

krautmick

I guess I must be starting to approach my midlife crisis. You see, I have a familiy with 2 kids, and therefore my motoring priorities are focussed on space, safety, fuel economy and comfort, like any other family father would be.

The thing is, that doesn't mean I wouldn't fancy cruising around in a convertible or coupe if I could. The thing is these cars are just not practical for a family, as everyone knows all to well I guess.

Now, I happen to have space. Space to store more than our 2 cars we have and I keep looking at great deals on old "semi" sports cars, some of which going for less than €2,000.

I would love the idea to get one of those (soon to be) classics, and take them out for the odd spin. However I have no idea how that would work out with respect to insurance and road tax. It doesn't make sense, for a car that may be driven for only a few weeks a year, to be fully taxed and insured.

Any advice?

Mr Benevolent

Temporary tax and insurance is usually as expensive as taxing and insuring it for a year. I'd spend my money on a classic 30 year old Porsche or an MX-5.

mickdw

Yep, you would have to go the classic route. This means €50 annual tax and classic insurance of something around €300 per year provided you have an everyday car.
If you buy a modern car, you will be looking at taxing it in 3 month blocks at least and could cost anything up to 400 per quarter.

MugMugs

krautmick wrote: »

I guess I must be starting to approach my midlife crisis. You see, I have a familiy with 2 kids, and therefore my motoring priorities are focussed on space, safety, fuel economy and comfort, like any other family father would be.

The thing is, that doesn't mean I wouldn't fancy cruising around in a convertible or coupe if I could. The thing is these cars are just not practical for a family, as everyone knows all to well I guess.

Now, I happen to have space. Space to store more than our 2 cars we have and I keep looking at great deals on old "semi" sports cars, some of which going for less than €2,000.

I would love the idea to get one of those (soon to be) classics, and take them out for the odd spin. However I have no idea how that would work out with respect to insurance and road tax. It doesn't make sense, for a car that may be driven for only a few weeks a year, to be fully taxed and insured.

Any advice?

Well if she is classic the TAX reflects this. If it isnt then just tax in 3 month stints...

In relation to Insurance there are a few options.

If she is classic then the premium will usually reflect the vehicle is only a two day a month job and should be lower.

If she isn't classic yet then you can insure the vehicle and then lay it up. This means you return the cert and disc to the insurer and the vehicle remains insured for fire and theft. Then when you want to run her again, call them and get your cert and disc back.... You'll then get a refund for the premium not used for RTA insurance at the end of the year. This could potentially be costly with Admin fee's though....

Your best bet is to speak to a Broker who could better advise you.

Otis Driftwood

Id agree with the guys above re going for a classic/vintage car.

I used to work for FBD and they have special membership rates for members of the Irish Vintage Society.Depending on the car type Ive seen annual policies for TPFT for under 200 bucks(you dont need to worry about having an NCB to use either).They wont offer additional benefits like breakdown cover and if I remember correctly they will not offer comp either but if its only going to be an occasional weekend run around then who cares!

toby08

buy something pre 1980 48 euro annual tax and average insurance of 170. no nct

krautmick

Ok, I see what your folks are saying. In other words, there is a grey area for cars that are not considered "classic" yet.

Can someone tell me then, what the insurance definition of a "classic" car is and what falls within or not of that definition.

As for comp insurance, I guess that only makes sense for cars that have a significant collectors value etc, and I believe there are special insurances for that. Otherwise, I guess the only relevant thing is 3rd party.

The one thing I wondered about is this. My family car is in for repairs at the moment, so my insurance is transferred to a rented car. If its that simple to transfer insurance temporarily, would it be possible to transfer insurance to another car you owned, e.g. for the weekend and then transfer it back. The only problem remaining then would be road tax.

mike65

TAX system says 30 years regardless of make/model but insurance companies seem to start at around 20 years depending on model.

Oh wait isn't there a cut off now at 1980?

krautmick

Well, on the "classic cars" trading sites, I see cars with 1990 registrations though?

Is there a definition of a "modern classic" in Ireland, similar to what is apparently used in the UK?

gofaster_s13

If you can't justify the cost of tax and insurance for the year then you'll find it hard to justify the running costs of a classic car, unless you can maintain, service and repair it yourself, a classic vehicle can cost serious$$$$$ as you'll find there's always something to be done with them.

krautmick

Accepted, but what I am looking at is stuff like this:

http://www.cbg.ie/car_detail.aspx?ID=4446701

I wouldn't dream of buying a 1996 Convertible for anything else than the occasional fun ride. I don't consider this to be an expensive investment (e.g. compared to buying a Porsche 911 for €25K) and the running costs would be low, yet I would probably get the same kick out of driving this car than driving a 911 cabriolet.

I just wonder if there is a way for me to buy e.g. that 1996 car, park it in my garage for most of the year to keep it protected, and only take it out occassionally when the weather is nice (which we all know you'd never run out of fingers for when counting it).

gofaster_s13

krautmick wrote: »

Accepted, but what I am looking at is stuff like this:

http://www.cbg.ie/car_detail.aspx?ID=4446701

Don't embarrass yourself with MGF's and the like, get something a bit more hairy chested ie Triumph Stag, 3.0l, rwd, skinny tyres, vague steering = great fun with a V8 soundtrack:D

http://cars.donedeal.ie/for-sale/vintagecars/2186059

krautmick

I just picked the first thing that popped up on CBG, I'm not particular about that car by any means. It's the principle of insuring a e.g. 1990-1999 car at the moment that I am interested in.