For those with a 2nd/fun car

vintagevrs

Ok,

So I have a diesel car at the minute and its grand for work, do a fair bit of miles and its economical, but it's still a diesel every time I start it. I really like it and it is worth more to me than I would get if I sold it.

Started to look at something to put in the garage for the weekend, ideally a petrol, rwd with more than 4cylinders.

I would love an E46 M3, but how do I insure/tax something like this now? The car would be doing minimal millage, probably less than 3k a year. I can't justify taxing and ensuring something like that at full price as if its my only car. Is there any way around this? Im 29, full license, no points, 7 years NCB.


I think it's too much money but would love to know if there is a work around. As far as tax goes, it is what it is I suppose. I could do 3 months on/off. But the insurance, any companies look favorably at this situation?

Maybe something older, qualifies as vintage that ticks same boxes would be a better route to explore

Thanks

Kenny Logins

You might get a classic/limited mileage insurance policy as its a second car and you could then declare it off the road for however many months to save on tax.

dredg

Easiest thing to do is call the insurance companies - they all have different notions of what counts as a classic. I've heard that AIG count 15 years as classic.
For tax, declare off-road as needed.

corktina

Classic Jaaaag or similar is the way to go...pre 1980 and you get cheap tax and Insurance plus no NCT

dantastic

I recently bought a second, just for fun car. Like you I thought I had many many years of NCB but when I was talking to the insurance companies I got a bit of a land.

My years of no claims were already tied up against a policy. I was essentially being treated as a driver with no history at all. My arguing that I had been driving claims free for all these years and I would be halving the risks instead of doubling them all fell on deaf ears.

So talk to various insurers and see what they can do for you. And don't assume you have any no claims bonus...

Supergurrier

If there was a workaround for this is have a teediddlyeye for work and an E39 M5 for the weekend.

Unfortunately our tax system is retarded

vintagevrs

Yeah an e39 would definitely be an option but as you say, the system is against it. the only insurance company that will quote me on an m5 is one with the super high excess.

Think aig are closed today, if that 15 year thing is right an e36 would interest me. Not sure if an 80s jag would do it for me. But classic is one thing, but when it has performance it probably isn't cheap to insure

Cee-Jay-Cee

corktina wrote: »

Classic Jaaaag or similar is the way to go...pre 1980 and you get cheap tax and Insurance plus no NCT

Wouldn't be a fun car, heavy And slow on comparison to modern day cars. Expensive to maintain and not very attractive.

corktina

so? don't compare it with a modern car...hard to believe anyone wouldn't find a big Jaaag fun!

YbFocus

corktina wrote: »

so? don't compare it with a modern car...hard to believe anyone wouldn't find a big Jaaag fun!

Fun yes but not in a performance or fast driving role

vintagevrs

Any thoughts on this?

http://cars.donedeal.ie/vintagecars-for-sale/ford-capri-3-0-v6-essex/5811914

ba_barabus

vintagevrs wrote: »

Any thoughts on this?

http://cars.donedeal.ie/vintagecars-for-sale/ford-capri-3-0-v6-essex/5811914

Yep. It has no NCT.......

shawnee

230ce or better still 280ce merc 123 will put a smile on your face :P

ba_barabus

Lots of classics will put a smile on OPs face but he doesn't want one. OP if you're with Axa I have heard they will mirror your NCB on a second car

shawnee

vintagevrs wrote: »

Ok,

So I have a diesel car at the minute and its grand for work, do a fair bit of miles and its economical, but it's still a diesel every time I start it. I really like it and it is worth more to me than I would get if I sold it.

Started to look at something to put in the garage for the weekend, ideally a petrol, rwd with more than 4cylinders.

I would love an E46 M3, but how do I insure/tax something like this now? The car would be doing minimal millage, probably less than 3k a year. I can't justify taxing and ensuring something like that at full price as if its my only car. Is there any way around this? Im 29, full license, no points, 7 years NCB.


I think it's too much money but would love to know if there is a work around. As far as tax goes, it is what it is I suppose. I could do 3 months on/off. But the insurance, any companies look favorably at this situation?

Maybe something older, qualifies as vintage that ticks same boxes would be a better route to explore

Thanks

Read what he wants !!!!!

ba_barabus

shawnee wrote: »

Read what he wants !!!!!

Yes, he wants a performance car not a wafter

vintagevrs

To be fair not even sure what I want. Don't want a cruiser, but something that makes you enjoy starting it each time. number of seats not important but needs to be a hard top.

I'll keep browsing but I think even if I found something that I loved for decent money, the whole idea out paying for it as if its my primary car doesn't sit well with me

corktina

my fun second car became my even more fun first car.

13 years old, 68000 miles 151mph top speed, 0-60 in 7.7, 202 bhp.....cost me €2400.
€320 to insure. Road tax the size of the National Debt though.

If you go a bit older , say 1990-93, you will get it on Classic Insurance.

The Capri looks as if it may be OK, but as said, seems to have no NCT so probably a bit expensive. Has cheap tax though and they are a hoot to drive and easy to maintain.

ba_barabus

Well if you'd consider a classic but it has a soft top with a safety cage frame for safety what about a Triumph Stag. Lovely sounding V8. Thing is though go for a classic you'll have serious maintenance bills.

ba_barabus

corktina wrote: »

my fun second car became my even more fun first car.

13 years old, 68000 miles 151mph top speed, 0-60 in 7.7, 202 bhp.....cost me €2400.
€320 to insure. Road tax the size of the National Debt though.

If you go a bit older , say 1990-93, you will get it on Classic Insurance.

The Capri looks as if it may be OK, but as said, seems to have no NCT so probably a bit expensive. Has cheap tax though and they are a hoot to drive and easy to maintain.

Tbh a Ford Crapi is a very good option due to ease of maintenance and repair.

kona

Pre 80 mini , 1380 7 port x flow straight cut gears. You will not have more fun.

Big Nasty

Plenty of fun pre-80 classics out there that will cost you cq. €250p.a. to insure fully comp and €56p.a. to tax, meaning you can drive it whenever you want. That Capri would do the job nicely if it was '79 but seeing as it is ZV'd I would doubt you would get too many Gardai that would know that it should be NCT'd anyway.

corktina

that's not th point. If it caught fire fro instance with no NCT I'm pretty sure the Insurance wouldn't pay out.

Big Nasty

corktina wrote: »

that's not th point. If it caught fire fro instance with no NCT I'm pretty sure the Insurance wouldn't pay out.

If you had an accident in your ST and the test was out do you think your insurance co would / should pay up?

MetzgerMeister

OP - have you considered an RX8? I know it's no M3 but it's an excellent car nonetheless. You can buy them very cheaply and there is also a way of re-registering it as a 1.3 and then taxing it as such.

corktina

Big Nasty wrote: »

If you had an accident in your ST and the test was out do you think your insurance co would / should pay up?

that's what I said...what an odd statement. I never drive my cars with no NCT, in fact it is booked for the 26th and isn't actually due until next February.

Big Nasty

corktina wrote: »

that's what I said...what an odd statement. I never drive my cars with no NCT, in fact it is booked for the 26th and isn't actually due until next February.

If, for what ever reason, you couldn't get to a test centre on time you would still be covered by your insurance though.

vintagevrs

So looks like a classic its the way to go for something that won't cost a fortune on tax and insurance

kona

Nct has nothing to do with road worthiness.

kona

MetzgerMeister wrote: »

OP - have you considered an RX8? I know it's no M3 but it's an excellent car nonetheless. You can buy them very cheaply and there is also a way of re-registering it as a 1.3 and then taxing it as such.

There's a reason why they are cheap

shawnee

vintagevrs wrote: »

So looks like a classic its the way to go for something that won't cost a fortune on tax and insurance

Yeah that's what I said w few posts back !!!! Some decent performance classics out there if you know what you are looking for.

Supergurrier

Loud NoISES !

corktina

Big Nasty wrote: »

If, for what ever reason, you couldn't get to a test centre on time you would still be covered by your insurance though.

yes but not fully covered, third party minimum cover.

Big Nasty

corktina wrote: »

yes but not fully covered, third party minimum cover.

You may be right but if I had an '80 classic I have to admit I wouldn't bother me bollix testing it and take the chance. It would be kept better than most modern cars regardless.

kona

Big Nasty wrote: »

You may be right but if I had an '80 classic I have to admit I wouldn't bother me bollix testing it and take the chance. It would be kept better than most modern cars regardless.

Test is designed for modern cars, try getting a classic through a test, unbelievable hassle.

Red Kev

OP, if you can't afford to tax something like an M3 (or if you baulk at the thoguht of it) then I'd be inclined to think that you can't afford to run a high powered car, be it classic or not.

Taxing and insuring cars like this are just a part of the overall running costs, some classics will break your heart with some of their bills, and modern cars aren't much better. I've had both classic and serious sports cars (911's) and bills can be very hefty. If you have a good classic it'll cost you money, a bad one will break you financially.

If I was you I'd go for either something in the category of a post 2000 MR2 , tune it if you want to make it faster and don't get too hung up on a 6 cylinder) or a Lotus Elise if you have that kind of money.

If you want to go classic, then a BMW E24 might suit, if you want something that'll break your bank but make your heart glow every time you sit in it then a Lancia Fulvia could be a good start.

Big Nasty

kona wrote: »

Test is designed for modern cars, try getting a classic through a test, unbelievable hassle.

Actually most classics (including 80's stuff) are exempt from pretty much everything bar structure, bushings and tyres.

kona

Big Nasty wrote: »

Actually most classics (including 80's stuff) are exempt from pretty much everything bar structure, bushings and tyres.

Not at all.

Big Nasty

kona wrote: »

Not at all.

You're right, I'm wrong.

I don't have any experience of this.

kona

Big Nasty wrote: »

You're right, I'm wrong.

I don't have any experience of this.

Well you must be because you still do emissions , brake test, headlights, suspension.

shawnee

Have a 123 280ce for last few years, has cost me very little on maintenance and is easy to work on. It has plenty of poke and will do 120 mph if I want to :p Tax 56 insurance around 175.

vintagevrs

Red Kev wrote: »

OP, if you can't afford to tax something like an M3 (or if you baulk at the thoguht of it) then I'd be inclined to think that you can't afford to run a high powered car, be it classic or not.

Taxing and insuring cars like this are just a part of the overall running costs, some classics will break your heart with some of their bills, and modern cars aren't much better. I've had both classic and serious sports cars (911's) and bills can be very hefty. If you have a good classic it'll cost you money, a bad one will break you financially.

If I was you I'd go for either something in the category of a post 2000 MR2 , tune it if you want to make it faster and don't get too hung up on a 6 cylinder) or a Lotus Elise if you have that kind of money.

If you want to go classic, then a BMW E24 might suit, if you want something that'll break your bank but make your heart glow every time you sit in it then a Lancia Fulvia could be a good start.

2-3k dead money every year is a huge consideration regardless of how much money I had, that still wouldn't sit well with me.

Truckermal

I am in the very same situation op but I am going for a Luxobarge, I have been talking about one for 4 years now so its time for a V8 outside the house..

Sobanek

vintagevrs wrote: »

Yeah an e39 would definitely be an option but as you say, the system is against it. the only insurance company that will quote me on an m5 is one with the super high excess.

Or.. you can call around instead of using the online quotes :rolleyes: I got a quote for a 535d on the phone, while the online system was refusing to quote.

vintagevrs

Sobanek wrote: »

Or.. you can call around instead of using the online quotes :rolleyes: I got a quote for a 535d on the phone, while the online system was refusing to quote.

That was me calling around, brokers and insurance companies direct. Thanks for the tip though :rolleyes:

CianRyan

kona wrote: »

There's a reason why they are cheap

Yeah, people don't understand them.

If I was you, I'd go for something pre-80, has the obvious bonus of not having to NCT it, and **** does go wrong on old cars!

Also, I'm gonna be a prick and suggest a first gen MX5/Eunos Roadster.
They're class. :pac:

Supergurrier

So class people buy them and then don't drive them !

CianRyan

Supergurrier wrote: »

So class people buy them and then don't drive them !

Working on that.

300ZX, 6 speed twin turbo. :cool:

farna_boy

@ OP: I know a vintage car seems like a good idea in principle but in reality it will probably cost more than a 7 litre Corvette in the long run, especially if something goes wrong. An MX-5 is probably a good start, but if that isn't good enough, overall you would probably be better off going with something a bit more modern and if needs be, take the hit with the tax etc because there is less of a chance of something going wrong.

For example, if you bought an old Jag and something went wrong, the Jag parts probably have a premium anyway but it's also old, so rarer, so more expensive. On the other hand, if you went out and bought, I don't know, a new 350z/ XKR/ Impreza, and took the hit on the tax, there is probably less chance of something going wrong. Also, if something does go wrong, it will be a lot easier to find someone who knows how to repair it and it would be a lot easier and cheaper to source parts.

If it comes to it, save up for another few months to pay the extra tax/insurance because it could save you a fortune in the long run.

Actually, another option could be just to buy a track car. I don't know what the story with insurance would be but at least you wouldn't have to pay the tax (AFAIK).

Sobanek

vintagevrs wrote: »

That was me calling around, brokers and insurance companies direct. Thanks for the tip though :rolleyes:

My friend had his 2001 M5 insured with AXA back when he was 27, so it's definitely possible :rolleyes:

Low Energy Eng

farna_boy wrote: »

@ OP: I know a vintage car seems like a good idea in principle but in reality it will probably cost more than a 7 litre Corvette in the long run, especially if something goes wrong. An MX-5 is probably a good start, but if that isn't good enough, overall you would probably be better off going with something a bit more modern and if needs be, take the hit with the tax etc because there is less of a chance of something going wrong.

For example, if you bought an old Jag and something went wrong, the Jag parts probably have a premium anyway but it's also old, so rarer, so more expensive. On the other hand, if you went out and bought, I don't know, a new 350z/ XKR/ Impreza, and took the hit on the tax, there is probably less chance of something going wrong. Also, if something does go wrong, it will be a lot easier to find someone who knows how to repair it and it would be a lot easier and cheaper to source parts.

If it comes to it, save up for another few months to pay the extra tax/insurance because it could save you a fortune in the long run.

Actually, another option could be just to buy a track car. I don't know what the story with insurance would be but at least you wouldn't have to pay the tax (AFAIK).

Similarly, while taxing an M3 will cost a fortune, it drives the cost of the car itself down, it's all relative.