van insurance

Van Insurance For Young Drivers – A Comprehensive Guide

Regardless of the vehicle they want to drive; young drivers suffer from high vehicle insurance premiums. Young drivers who are looking for car insurance will find their premiums are much higher than those aged 25 and above. However, for young drivers looking for van insurance, the premiums are usually higher. Furthermore, it can be harder to find an insurance policy as many van insurance policies are only available to drivers over 21 years-old. Some policies are only available for drivers over 25. So, what can you do to obtain cheap van insurance for young drivers?

Why is van insurance for young drivers so difficult to acquire?

Car insurance premiums for young drivers increase because they are statistically more likely to suffer an accident on the roads. Similarly, van drivers aged between 17-24 are more likely to be involved in an accident when driving a van compared to van drivers who are older and that have more experience.

With this in mind, many insurers do not think its profitable or worthwhile to offer insurance to van drivers under 25. This is why only a small proportion of insurers offer van insurance to those under 25. Some insurers have lowered their age restrictions to drivers over 21, which is better, but only because they class van drivers over 21 as a slightly lesser risk and insurance premiums are still typically high to reflect this.

Fortunately, there are some insurers that do offer van insurance for young drivers. Furthermore, MyFirstUK works with the majority of them, to help young drivers to get van insurance at an affordable price.

van insurance

Why is my van insurance for young drivers quote so expensive?

The fact that insurance premiums are higher for young drivers is often due to the statistical likelihood that they are more likely to be involved in an accident. For example, one-fifth of drivers have an accident within the first six months of acquiring their licence. Furthermore, an 18-year-old driver is three times more likely to get involved in a crash compared to a 48-year-old.

As well as the risk of accidents for young drivers, there may be other factors to blame for your high quote;

  1. The type of van you drive

The type of van you drive will be used to calculate the cost of your insurance premiums. Aspects the insurer will take into consideration include;

  • Payload capacity
  • The engine size
  • Age of the vehicle
  • The value of the vehicle.

If you haven’t bought your van yet and are just shopping around for quotes, it may be worth considering a smaller, more efficient van. You can check which vans are the cheapest to insure by looking at the Association of British Insurers’ insurance groups for vans. Bear in mind, that while a van may cost a little more to buy or hire purchase, it could save you, in the long run, thanks to cheaper insurance.

The Association of British Insurers’ (ABI) judges which vans to class in each category based on a number of factors. For example;

  • If parts are expensive or rare, then it will cost more to repair and, therefore, more to insure.
  • If the overall cost to repair a van is high, then premiums will reflect this.
  • The bigger the engine, then it will be classed in a higher category by ABI.
  • The heavier the weight of the van, the more difficult it is to drive, so will be classed higher.
  • The performance of the make and model will determine how likely a claim will be made.
  • The greater number of security features the lower the category and premium will be.
  • Your personal situation

Your personal details will be taken into consideration when determining your premiums. Aspects that insurers will consider include your age and driving experience. Premiums will also take into account the number of convictions you have as well as your claiming history and no claims bonus.

Other personal information that could increase your premiums is where you live and where the van will be stored. On street parking will usually raise premiums, while keeping your vehicle on a private driveway will usually lower the premiums. The area in which you live can also play a large part in your premium costs. Unfortunately, this is usually unavoidable.

How to find cheap van insurance for young drivers

While van insurance for young drivers is usually expensive, there are ways that you can reduce your van insurance premiums and find more affordable van insurance that suits your needs.

  1. Choose the right van

As mentioned above, a bigger, more powerful van will be more expensive to insure than one with a smaller engine. It may be best to start with a smaller van and upgrade as you build up your no claims bonus. Check ABI’s groups for van insurance to find the vans which are cheapest to insure.

  • Shop around

Get in touch with MyFirstUK who will scour the market searching for the best van insurance deals for young drivers. Our team are on web chat, email and phone so you can get in touch easily, and we’ll do the hard work of comparing insurance quotes.

  • Increase your voluntary excess

If you have the funds available, then increase your voluntary excess. This will be the amount you will have to contribute for a repair. However, if you don’t have the money in the event of the claim, then the insurer will not have to pay out.

  • Add security measures

The safer your van is, the less likely it will be stolen or damaged which means you are less likely to claim on your insurance. From locking in a garage overnight to choosing Dashcam insurance from MyFirstUK, there is a range of security measures you can put in place.

  • Pay upfront

If possible, pay the annual premium for your car insurance compared to monthly instalments. Paying for a whole year upfront is usually cheaper than paying in instalments, you may even get one month of insurance free by paying in advance.

The team at MyFirstUK are here to help you get the most affordable van insurance for young drivers and will be on hand with ideas for how you can lower your premiums too. Find out more by getting a quote online!

learner driver insurance

Learner Car Insurance – What You Need To Know

Learning to drive can be incredibly exciting and stressful. While lessons may be expensive, getting your licence will give you the freedom and flexibility which can help you invaluably in the future whether it is for work, leisure or family life. That said, the freedom that driving gives you can cost a lot initially. As well as the cost of lessons, learners have many other costs to factor in such as the cost of a car, the cost of fuel, vehicle tax, learner car insurance and driving tests.

So, with such high costs with learning to drive, how can you save money through learner car insurance and do you actually need it? MyFirstUK dives into the world of learner car insurance so you can get the best price possible for your insurance.

Do you need learner car insurance?

If you are learning to drive with a driving school, then insurance is usually included in the price of the lessons. However, it is always best to ask your driving instructor whether they have insurance in place. If not, it may be your responsibility.

For most learner drivers, however, it is important to have some driving practice outside of the lessons with an instructor. When you are learning to drive and want to practice driving, then you’ll need to be supervised by a family member or friend. The supervisor must be at least 21 years old and must have held a full UK driving licence for more than three years.

If you are practising under supervision, then you’ll need learner car insurance regardless of whether you have your own car or are practising in someone else’s vehicle.

It is well worth practising in between lessons. The RAC even actively recommends that learner drivers should aim for over 20 hours of additional practice outside driving lessons.

So, in summary, if you want to practice outside of lessons, then you’ll need learner car insurance. If you are just having professional driving lessons from a driving school, then you probably won’t need learner car insurance.

What are the options for learner car insurance?

There are several ways that learner drivers can be insured before the pass their test, some of which include;

Short-term – Short-term learner car insurance is a specific policy to cover the individual until they pass their test. As it is short-term, you can select how long you need the insurance in place for. This could be a few weeks to a few months or longer. As it only covers the time you need until you pass your test, it is generally considered a cost-effective option.

Named driver – Another option for learner car insurance is for young drivers to be added as a named driver on another policy. Often parents are happy to add their children to their policy as a named driver. However, some insurers will not allow a learner as a named driver on the policy. Furthermore, if the learner driver has an accident which requires a claim on the insurance, the principal policyholder will suffer from a tarnished claims history and may lose their protected no claims bonus.

Own car – If you are lucky enough to have your own car to learn and practice in from the very beginning, then you can insure your own car from the very beginning. Just make sure to inform your insurer when you move from being a learner to a newly-qualified driver when you pass your test.

Hybrid –  MyFirstUK offers an exciting hybrid policy which covers you when you are a learner driver to after you pass your test. This way, you don’t have to pay twice for insurance, and your premium won’t rise when you pass your test. It is a fantastic money-saving solution that enables you to build up your no claims bonus quickly.

learner driver insurance

Why is having a learner car insurance policy a good option?

  1. All round protection

Typically, learner car insurance is fully comprehensive meaning you are fully protected and insured if you drive in your own car, a relative’s car or a friend’s car.

  • No claim bonus protection

If you have an accident or cause damage in a friend’s or relative’s car and have your own learner car insurance policy, then you will not affect their no claims bonus. However, if you are a named driver on someone else’s policy, then they may lose their no claims bonus. This provides peace of mind to both you and the car owner.

  • Flexibility

Learner car insurance is designed to be a short-term solution while you are learning to drive. This means you can have insurance in place for as long or as little time you need. What’s more, if you need a month or two longer, it is easy to arrange.

  • No hassle

It can be costly to purchase learner car insurance and new driver insurance in a short space of time. However, with the MyFirstUK hybrid policy, you only have to pay once. You can keep the same insurance policy for a year while you learn to drive and when you pass your test. This is a no-hassle solution so you can concentrate on making the most of your freedom when you pass your test, rather than searching for the cheapest young driver insurance policy.

  • Cut costs

Having learner car insurance in place allows you to get as much practice in between lessons. Not only can this help to build your confidence and experience on the road, but it may also mean you require fewer lessons which can help to save you money.

Find out more today

If you are not sure which learner car insurance option best suits you, then get in touch with the team at MyFirstUK, using your details, we can search the market to find you the cheapest options and discuss which ones may be right for you, whether it is a hybrid policy or short-term solution. Drop us a line, give us a call or web chat with our friendly team today!

first time driver insurance

How To Find Cheap Car Insurance For First Time Drivers

Young drivers and first-time drivers are known for getting a bad deal when it comes to car insurance. Learning to drive is incredibly expensive, and the costs associated with learning to drive have risen 18% since 2010. For drivers under the age of 25, they pay an average of £1,635 a year for car insurance alone. Whereas drivers over 25 spend an average of £712 per year, while drivers over 50 paying an average of £413 per year.

So, if you’re a first-time driver and looking to cut costs on your insurance, here are the top tips on how to find cheap car insurance as a first time driver.

Top Tips For Cheap Car Insurance For First Time Drivers

  1. Add responsible drivers to your policy

In most cases, adding a second driver to your insurance policy can push your premium prices up. However, in the case of young drivers, adding a second responsible driver to your policy such as older siblings or parents can reduce your premiums.

This is because first time drivers are seen as high risk. Adding a second or third driver who is older and has plenty of experience on the road can dramatically reduce the cost of your policy. It is important only to add drivers who are realistically going to drive your car. In some cases, you can even say how much they will drive your car. For example, you can put your Dad down as an ‘occasional driver’.

Adding drivers to your policy doesn’t always make it cheaper, and in some cases, it can actually increase your premiums. The best thing to do is try a few different quotes with different drivers and see which ones lower your premiums and which increase your premiums. Start checking for quotes today with MyFirstUK here.

  • Consider your cover options

For car insurance, there are three main cover options which are;

  • Third party only
  • Third party, fire and theft
  • Fully comprehensive.

Typically, third party only is seen as the cheapest as it has the lowest level of cover. However, insurers know that many people who chose third-party insurance are actually a higher risk on the roads. In some cases, fully comprehensive insurance can actually be cheaper as you are deemed a safer, more sensible driver.

Again, it is best to compare different quotes to see which is cheapest. However, for extra peace of mind, fully comprehensive can ensure you have the cover in place for a whole range of circumstance, giving you the protection you need if an accident is your fault.

  • Steer clear of modifications

Modifications may look cool on your new wheels, but they will often cost you significantly with your insurance premiums. Modifications are essentially anything that you’ve added to your car that isn’t part of its factory specification. If you add alloy wheels, extra bass for your music system or an additional exhaust, then you will need to state this on your insurance (otherwise it may invalidate your policy).

Usually, insurers will increase your premiums if you have modifications as they can increase the value of your car and therefore the cost of repair or replacement if they are stolen or damaged.

  • Choose a cheap car to insure

Certain vehicle makes, and models are considered cheaper to insure. There are 50 different car insurance groups, and it is well worth reviewing these groups when choosing your car. The cheapest cars to insure for young drivers are in the groups one to five.

Remember, faster cars are usually seen as a higher risk, especially if it is your first car.

  • Black box insurance

To help reduce the premiums for young drivers and newly qualified drivers, many insurers now offer black box insurance. The black box insurance, also known as telematics, monitors the driving style of the driver. This data can then determine how safe the driver is and subsequently lower the insurance.

Black box insurance helps by not only providing necessary data to prove your driving skills but can add peace of mind. Already half a million drivers in the UK have black box insurance and having telematics insurance reduces the crash risk by 40%.

At MyFirstUK, we specialise in finding the cheapest insurance for first time drivers and one of our specialities is black box insurance. If you want to save considerably on your car insurance, then telematics insurance may be the answer.

  • Dash cam insurance

If you don’t like the idea of having your driving habits monitored, then a dash cam insurance policy may be a better alternative. A dash cam can offer up to a 30% discount on car insurance as it monitors the action on the road and not your driving style. A dash cam provides the proof in the event of an accident or incident which can help to speed up the dispute process in the event of a claim.

What’s more, people often feel safer when having a dash cam in action. In fact, 40% of people claim they prefer driving with a dash cam on board as it provides peace of mind and evidence for a dispute or when your car is damaged, and it isn’t your fault.

At MyFirstUK, we offer dash cam insurance by teaming up with Next Base Dash Cams. With our dash cam policies, policyholders can receive a free Next Base Dash Cam as part of their policy. Furthermore, there is a free click and collect service at Halfords where Halfords will also install the dash cam free of charge too. If you want to reduce your premiums as a first-time driver, then get in touch with MyFirstUK who specialises in car insurance for young drivers. If you’d like to find out more about our dash cam policies and black box insurance, then get in touch with MyFirstUK by calling or speaking to us through live chat.

Last minute stocking fillers for cars!

It’s only days away until Christmas 2019 and the panic of last minute shopping is starting to settle in! Whether you need some quick gift ideas, secret santa’s or even just a stocking filler…we’ve put together some pressies that will be a sure fire win for a car lover:

Halfords Ice Scraper – £4.50

We all hate de-icing and scraping our windshields, especially in the blistering cold…in the morning! Halfords have a handy solution of an ice scraper combined with a waterproof ‘Mitt’ to keep those hands dry and warm! A bargain for only £4.50 and it’s one of the gifts that they’ll thank you for when the frost really hits in the new year!


Emoji Fresh Air Fresheners

The coolest car air fresheners on the market! Emoji fresh specialise in quirky shaped air fresheners in every popular emoji you can think of! Not only that, but you can also custom print almost anything and create your very own air freshener. From Kermit the Frog to odour eliminating mists, they have a perfect stocking filler for you! Check them out.

Nextbase 112 Dash Cam – £39.99

The popularity of Dash Cams has rocketed this year and is set to continue into 2019. They are a fantastic safety feature for any domestic or commercial vehicle and can even save you a bundle on your car insurance! Nextbase are leading the market in affordable but extremely high specification Dash Cams and their Nextbase 112 model comes in at just £39.99 from Argos! Or… if you’re looking to save on your car or van insurance, why not contact us for a quote on a Dash Cam policy and you could save up to huge 30%. Get a quote here.

Henry Car Bin – £7.75

Let’s face it, if it isn’t yourself, we all know someone who can’t keep their car tidy! This quirky little bin is the perfect gift to give your friend or family member no excuse not to little their car. Now just £7.75 from amazon, it’s collapsible design is non-intrusive and easily fits into most boots. Inspired by the famous Henry Hoover, who wouldn’t want this for Christmas!?

From all of us at MyFirstUK, we wish you the best of luck with your gift-buying, a very Merry Christmas and a Happy New Year!

Need to save money on your car insurance? Get in touch today.

winter driving

Driving tips for the Christmas period

It’s that time of year again where so many of us are counting down the days until we finish work, school or university. With the huge rush of shopping, commuters and increasing frosty weather conditions, young drivers should take extra care on the roads. MyFirstUK have put together some advice and a few tips for tips for December:

Waking up in the morning

Wake up early and de-frost your car!

We are all guilty of shutting off our morning alarm just to squeeze those extra 10 minutes in bed, especially during the winter months. However, when you get into your car and realise it’s completely frosted over, it’s going to make you either late which can lead to even bigger problems. Leaving in a hurry without de-frosting your windows is incredibly dangerous. Whilst there is no road law that says it is illegal to drive with snow on your car, the Highway Code stipulates that if driving in adverse weather conditions you must, by law, be able to see out of every glass panel in your vehicle (via RAC). Our Advice? Set your alarm just 10-15 minutes earlier in the morning and make sure your car is fully de-frosted BEFORE setting off.

Avoid the busiest days and times (where possible).

The week before Christmas will be the busiest on UK roads with many companies closing for the Christmas period and shoppers rushing to get their last minute presents in time. If you are intending to get those last minute deals, avoid the normal peak hours (4pm – 7pm) as this is when the roads will be at their busiest. Alternatively, consider a slightly different route that would cancel out motorways during these hours. Our Advice? Don’t rush! Take your time driving home or heading out shopping and avoid peak commuter hours. Download apps such as ‘Waze’ or Google Maps to get live traffic updates and routes that will help you plan your journey times.

scraping ice

Clean your car when you get chance!

Clean my car!? In this weather!? Yes…unfortunately as the frost hits our roads, so do the gritters which can build up in and around your vehicle, causing long term problems. We’re not suggesting a polish, but giving your car a general clean and removing that winter debris will do wonders! Our Advice? Wrap up warm when doing it!

Make sure your car is healthy

Imagine breaking down in the blistering cold just before Christmas…no thanks! Simple and quick checks should be carried out before you head out on long or daily journey’s. Your tyre tread should be at least above 3mm for this time of year to ensure maximum grip and safety on the roads. Volkswagen have put together a fantastic video on how to check this yourself:

Your oil and coolant levels should be also be topped up to ensure your car is healthy for the road!

Our overall advice? It takes very little time to put these tips into effect, and doing so could save you time, money and even your life, all of which we need around Christmas!

If you are looking for the best deal on young driver, learner or Van insurance, get a quote from MyFirstUK today.

convicted driver insurance

Advice for convicted drivers looking for affordable insurance

Being accepted for car insurance after a conviction can be difficult. However, getting insurance is essential, especially if you rely on driving for your work. For those who need to drive for their livelihood can risk losing their job and their home. In return, this can put an immense pressure on families and loved ones.

What Is Convicted Driver Insurance?

Convicted driver insurance offers the same level of protection as regular car insurance. However, it will take into account your previous convictions. Usually, convicted drivers are seen as a high risk to insurers, and high premiums typically reflect that risk. However, at MyFirstUK, we take into account your specific circumstances and your conviction to help find the best and most affordable insurance policy.

One of the ways we can help to find cheaper insurance for convicted drivers is through our dash cam insurance policy. The MyFirstUK dash cam insurance policy comes with a Nextbase Dash Cam. You can pick up the dash cam at your local Halfords store. The team at Halfords will install the dash cam free of charge, and you can drive away saving money on your insurance policy.

The dash cam helps to give you an added level of protection, giving you evidence in the case of any incidents and accidents. Dash cams can also help to keep the roads safer as well as giving you greater peace of mind when you’re out and about on the roads.

In some cases, insurers will refuse even to offer convicted drivers insurance; this can mean the search for insurance can be stressful and time-consuming. At MyFirstUK, we will search the market on your behalf and come up with the best deals and policies based on your requirements. Our specialist advisors have excellent connections with the best insurers who offer policies for convicted drivers. Our experienced team members can help to secure the right level of insurance at the best price.

convicted driver insurance

Which Type Of Insurance Is Best For Convicted Drivers?

There are three different types of insurance available for convicted drivers; Third Party, Third Party, Fire and Theft and Fully Comprehensive. At MyFirstUK, we offer all three options for convicted drivers.

Many convicted drivers, opt for Third Party Only insurance as this is generally seen as the cheapest option. However, insurers know that convicted drivers will usually choose Third Party Only insurance as it is cheaper and therefore insurers believe this insurance bracket is riskier. Subsequently, insurers often make Third Party Only insurance more expensive. Comprehensive insurance is usually chosen by safer drivers and therefore can often be a cheaper option, despite giving drivers a higher level of protection.

It is worthwhile asking the advisor to find a range of policies for Third Party and Fully Comprehensive to work out which is cheaper. You may discover that you get more for your money with Fully Comprehensive convicted driver insurance.

Remember, insurance is a legal requirement and to ensure you do not receive another conviction; you will need to make sure you have adequate insurance in place.

Top Tips On Lowering Convicted Driver Insurance Premiums

  1. Increase the excess

One of the best ways to lower your insurance premiums is to increase the amount of excess you will pat in the event of a claim. Of course, this amount needs to be affordable for you. Do not raise your excess too high otherwise you may not be able to afford to make a claim.

  1. Use a dash cam

Dash cam insurance can help to lower your premiums by keeping your car safe and providing valuable evidence in the event of an incident or accident.

  1. Park safely

Keeping your car in a safe place such as a driveway or garage can not only help to keep your car in a safe place but may also lower your premiums.

  1. Reduce your mileage

Doing less miles will usually mean you are less likely to be in an accident. If possible, lower your mileage and you may save money on your premiums. However, don’t lie about your mileage, if you do make a claim and your mileage is over the limit, this could invalidate your insurance.

  1. Don’t reoffend

Reoffending will increase your premiums. It may make you unable to get insurance until you are no longer a convicted driver. If you reoffend, your current policy may be cancelled. Reoffenders are also more likely to face tougher sentencing.

  1. Driver Rehabilitation Courses

Driver rehabilitation course are designed to help convicted drivers become safer drivers. These courses teach the laws of the road and consequences of not abiding by them. Upon completion of the course, some insurers will lower their premiums.

What Driver Convictions Can We Help With?

  • Convictions for driving without insurance
  • Unspent non-motoring convictions
  • Penalty points for speeding
  • Previous bans or disqualification from driving
  • Drink-driving ban
  • Drug-driving ban
  • Convictions for dangerous driving
  • Convictions for failing to stop after an accident
  • Traffic light offences.

MyFirstUK can help to find insurance for drivers with a range of convictions. Find out if we can help you to find the right insurance for your conviction by getting a quote.

student saving money

Are you a Student Driver? Here’s some tips…

A student life is never cheap. Tuition fees, accommodation costs and living expenses all quickly add up to eye-watering amounts. The last thing you want to add to your budget is car insurance. However, when you have invested time and money into learning to drive, it would be a shame to miss out on the freedom of driving your car. After all, as a student, a car gives you greater convenience, practicality and more opportunities for your adventures during your student days.

To help you save as much money as possible as a student, MyFirstUK offers specialist car insurance for students. We search for the best deals to save you money but also save you time too.

Why Do I Need Student Car Insurance?

If you have a car and use it, then your vehicle needs to be insured. Even if you leave your car at home when you go to college or university, your vehicle will still require insurance or, if it is not in use, it will need a Statutory Off Road Notice (SORN). It is important that you always have insurance or a SORN in place so that you can comply with the Continuous Insurance Enforcement legislation. Failure to do so is an offence and may lead to a fine.

student

Save Money With Car Insurance For Students

Many students fall into the 17 – 25-year-old age category which is typically considered as high-risk by insurers which often means expensive insurance premiums. Added to the higher risk for accidents and insurance claims due to lack of driving experience is the added concern that students and their universities tend to be located in cities, which can also increase car insurance premiums.

Furthermore, students will often live in areas with higher crime rates. As well as this, there are usually fewer options for safe places to park the car, all of which work against students to increase their premiums. However, for many students, a car is crucial and a fantastic opportunity to explore the area with friends and fellow students. MyFirstUK wants to make it as easy as possible for students to enjoy their car at university by finding the best deals and the cheapest student driver insurance.

How Do I Get The Best Student Driver Insurance?

Tailored Cover – Get the right policy for your needs to save you money, whether you take your car to university or leave it at home.

Reduce Your Mileage – It may help to reduce your premiums if you lower your annual mileage if you can reduce the amount of driving you need to do.

Check For Offers – Student discount can apply to car insurance too. Don’t forget to ask for any ongoing student offers.

No Claims Bonus – Keep building your no claims history through university to lower your premiums in the future.

Value For Money – MyFirstUK will compare the market for you and look for the best value deals to suit your needs.

Pay Upfront – Paying upfront for a full year is often cheaper than instalments. However, we offer flexible payment option with low deposits too.

Type Of Car – The type of car you choose will dictate the cost of premiums, small and practical will be cheaper than sporty and powerful.

Add Named Drivers – Adding other drivers, with plenty of driving experience, which use your car can lower your premiums.

Black Box Insurance – Pay a premium based on your own driving style and habits rather than that of your peers.

Consider Parking Places – Parking your car in a safe place such as a well-lit neighbourhood, or a driveway can save you money.

No Modifications – Pimping your car can add to the premiums, avoiding modifications can help to keep costs low.

Increase The Excess – If you can afford to pay more in the event of a claim, then it may reduce your overall premiums.

Check Your Cover Options – Third-party insurance is not necessarily the cheapest, check quotes against fully comprehensive options too.

Add Security Measures – Anti-theft devices can all help to keep your car safe from thieves and lower your insurance premiums.

You can search for a quote online or chat with our helpful advisors via web chat or on the phone.

car keys in hand

Best way for a young driver to buy a new car?

As a young driver buying a car, trying to balance cost, comfort, aesthetics and practically factors can be an almost impossible task.

Purchasing a vehicle is becoming ever more difficult for young drivers to afford. Do you take out a lease deal? Is buying outright from a dealer the way to go? We have summed up some pro’s and con’s for all the popular buying avenues to help you young drivers make the right choice.

leasing a car

Leasing a vehicle.

Taking out a ‘lease’ on a vehicle is usually a fixed short term agreement  (2 – 5 years) which incurs monthly payments.

The Positives:

  • A lease enables you to pay for your car on a fixed monthly basis, without having to purchase a vehicle outright.
  • You will be able to drive in a higher priced, better specification car than you could afford buying outright.
  • Most leases are for new or late model vehicles that are covered by manufacturers warranty.
  • It is very often as simple as handing back over the keys when your lease term is complete, without the worry or hassle of selling your vehicle.

The Negatives:

  • Monthly payments although somewhat ‘easier’ can build up over time making it very difficult to save your cash for other life events.
  • Nearly every lease agreement will limit you to the amount of miles you can drive per year, or as a whole. The more miles you need, the higher the monthly payments. Not only that, but if you exceed your agreed mileage agreement, you will have to pay an excess penalty, which can be anywhere from 5p to 30p per mile.
  • You must return your vehicle in excellent condition, or risk paying large amounts of ‘wear-and-tear’ charges. Some agreements will even state that any damages must be fixed by an approved garage or by the manufacturer themselves, which can be very expensive compared to local garage prices.

Verdict on leasing a vehicle:  

Mid 2018 statistics saw that over 1.6 million people in the UK lease a vehicle. But is the right choice for young drivers? If you are in a position where you don’t have a lot of savings to put towards buying a car, then it does seem like a sensible choice. However, consider buying a very economical vehicle with low monthly repayments, and also think hard about your mileage requirements in relation to your education or employment. For example, if you are a post-graduate with uncertainties about employment, is it wise to take out a lease that will restrict your daily commute?

Buying a vehicle outright from a dealer:

Are you in a position where you could buy a vehicle in one full payment from a dealer?

The Positives:

  • Perhaps the biggest positive is that the car is YOURS. You own the vehicle entirely.
  • You are not restricted to any miles.
  • There are no monthly payments to pay on the purchase of the vehicle itself, allowing you to begin saving again.
  • You are free to modify the vehicle to your pleasing, which lease agreements often restrict. However, please note this may increase your insurance premium.
  • You are free to sell the vehicle at any time that might reflect a change in your personal circumstances. This can also include part exchanging your vehicle for a better one at a reduced price.

The Negatives:

  • Cars by nature are one of the most rapidly depreciating assets you can own. Unless you are buying a classic vehicle or a car with an appealing custom specification, you will only be able to re-sell your vehicle years later at a fraction of the cost you bought it for.
  • Depending on your budget, most young drivers will only be able to afford a second hand vehicle that has some significant miles on the clock. The older the vehicle is and the more miles it has done, the more likely you will run into problems with maintenance and repairs down the line.
  • Buying a second hand vehicle will more than likely have no manufacturers warranty due to it’s age.

Verdict on buying outright from a dealer:

This all depends on the amount of money you have and are willing to spend on a vehicle. Always remember that most vehicles depreciate in value and you should never ‘impulse buy’ something like a car.

 

PCP (Personal Contract Purchase):

Think of this like a personal loan to help pay for the vehicle, but not at it’s full price. Essentially, you put down a deposit payment and ‘borrow’ an amount of money that reflects how much the vehicle will decrease in value over the period of the deal (usually 2 – 4 years). The amount left over is what the lender believes the car will be worth at the end of your agreement term, and also what you will have to pay IF you want to own the vehicle outright. If you don’t, you can simply hand the car back over.

The Positives:

  • A PCP is often a lower monthly payment plan than a standard lease or hire purchase.
  • You might not be able to get a brand new car, but it will certainly be a late-model with decent mileage that you would not usually be able to afford outright.
  • The end of the agreement is flexible. You can give the car back, buy it or even part exchange any equity for a new PCP deal.
  • Some PCP deals include maintenance packages that are very worth while, and can save huge amounts on future repairs, especially if your agreement in quite long (4 years+).
  • The lender will ‘guarantee’ your vehicle to be worth a certain amount at the end of the deal, giving you peace of mind about any re-sale problems. Also, it many cases most PCP vehicles are worth slightly more than this value allowing a little equity to go into another deal.

The Negatives:

  • During the contract period, you do not own the vehicle.
  • Similar to a standard lease, Mileage limitations do apply and costs will incur if you go over them.
  • Although standard wear and tear is considered, again you will be required to fork out for any damages to the vehicle at the end of your agreement if you wish to return the car back to the lender and walk away.

Verdict on PCP:

If monthly payments are tight, but you really need a reliable, decent vehicle, PCP could be a great option for you. The flexibility at the end of the deal gives you options if you’re uncertain about your financial situation at the time. However, if you see yourself having the same vehicle for many years to come, it may be best to consider getting a personal loan or hire purchase for the full value of the vehicle.

Buying privately:

You’ve probably scanned a website such at Auto Trader and seen a pretty good deal on a private sale. But is it worth jumping at?

The Positives:

  • Buying privately can save you money off the bat. You can snap a great deal from a seller looking to make a quick sale and even use your negotiating skills to get the price even lower.
  • Buying privately can also save you a huge amount of time.
  • An honest seller can give you very detailed information about the car, which a dealer with hundreds of cars will not.

The Negatives:

  • Unless a legal agreement is drawn up, you loose most warranty clauses or ‘money back’ privileges a dealer will give you, especially if you pay cash.
  • Unless you ‘know your stuff’ about cars, you can often blindly buy a vehicle without knowing any major problems it might have.
  • Most other purchasing avenues such as leases throw in maintenance packages which can save you a lot of money in the long run. If you buy privately, any problems (large or small) are now solely your problems.

Buying privately verdict:

If you get the right deal, at the right time, from the right vendor… you can definitely save a huge amount of money buying privately. But that’s just it, getting that perfect deal is very hard to come by which makes buying privately a risky avenue. Our advice would be to take a family member or friend with you who knows about vehicles that can help you make the right decision. Always test drive the vehicle first, and get a professional opinion where possible.

Looking for the best deal on your car insurance? Get a quote from MyFirstUK today! We specialise in getting the best deals for young drivers.

Lamborghini Learner

Learning to drive in a Lamborghini!

When learning to drive, you are more than likely to get behind the wheel of a pretty economical, safe and secure vehicle. But wouldn’t it be cool to learn to drive in a Super Car? Well That’s exactly what we helped make happen!

MyfirstUK teamed up with Tom Exton, founder of LDN Muscle and TGE TV to see what it’s really like to put a driving student behind the wheel of a Super Car.

Tom met Katie, who was currently learning to drive and offered to give her a driving lesson of a lifetime by putting her behind the wheel of his Custom Lamborghini Aventadaor SV. Katie has only ever driven in 1 other vehicle before, a Toyota Yaris…bit of a difference Katie!

A nervous Tom takes Katie for a warm up lap explaining the basics of the Lambo, stressing that it doesn’t have any duel controls a learner might expect their instructor to have!

So what happened? Check out the full video below:

Are you looking for Learner or Young Driver car insurance? Get a quote from us today!

MyFirstUK is excited to offer a new hybrid policy that can cover you while you are learning and when you pass your test. Many young drivers struggle with the expense of paying for learner driver insurance and then paying again for newly-passed cover. Our hybrid policy means that you don’t have to pay a penny more when you pass your test. This money-saving solution means you can put your hard-earned cash to better use.

Our hybrid annual policy gives you to the coverage you need, without paying twice. What’s more, with the hybrid policy, you can start to build up your no claims so that you can reach your no claims discount as quickly as possible!

Call us today on 0333 305 5116 for the very best deal on your car insurance!

young driver insurance

Young Driver Insurance – Everything you need to know

For many young drivers, enjoying the freedom of the open road and the liberating feeling after passing your test is cut short when you discover how expensive young driver insurance can be. For those who have just passed their driving test and those under 25-years-old, car insurance premiums are high.

As car insurance is a legal requirement, young drivers need to do all they can to reduce their premiums. Aspects such as choosing a sensible, low insurance group car, installing a black box to monitor driving habits and taking further driving courses can all help to reduce premiums for cheap insurance for young drivers.

On average, young drivers will have to spend over £1,000 on car insurance. This is because young drivers are considered to have less experience and those between 18 and 24 years old are considered riskier on the roads. This is further evidenced as around 19% of young people have claimed on their insurance within the first couple of years of driving.

At MyFirstUK, we want you to be able to enjoy all the benefits that driving can bring. This is why our team of experienced insurance advisors will scour the market to bring you the best deals. We only work with insurers who are pre-approved for their young driver insurance benefits. With our expertise and our trusted insurance providers, we can find the cheapest deals with the best coverage so that owning a car is much more affordable and enjoyable.

young driver

When choosing car insurance for young drivers, there are three main options to consider;

Third Party – This is the minimum level of cover you can need by law. This coverage will only pay out if you cause damage to other people’s property or need to pay compensation or injury-related costs to other people. Third party insurance does not cover you as the driver; it also won’t cover repairs or replacement of your vehicle.

Despite having the lowest coverage, third-party insurance is typically the most expensive as the drivers that usually choose this policy are 18% more likely to crash.

Third Party Fire And Theft – As well as the coverage you receive with third party insurance, this type of policy will also cover you if your car is stolen or damaged by fire. This type of insurance can be ideal for those with a cheaper vehicle. However, similar to third party insurance, it is often not the most competitive policy available.

Fully Comprehensive – This type of insurance has the highest level of cover. It will cover damage to third party vehicles as well as damage to your own vehicle. It will also cover a high range of causes of damage such as accidents as well as fire and theft.

Fully comprehensive insurance used to be the most expensive. However, younger drivers then started to opt for third party and third party fire and theft insurance to get a cheaper deal. As the risk in these categories increased, so did the premiums. Now, fully comprehensive is often the cheapest insurance option available.

checklist

How Can I Find Cheap Young Driver Insurance?

Choose the right car

It is worth checking the insurance rating for different vehicles before you buy. Choosing a car in the lowest insurance band could save you a significant sum on your premiums and work out as a better deal in the long run.

Add an experienced driver

If you are the main driver, you need to state this on your insurance, but adding an older and experienced named driver to your policy can lower your premiums. Don’t use the driver to ‘front’ your policy; it could invalidate your insurance.

Improve security

Insurers may lower your premiums if you improve security for your car such as parking in a safe place, in a good area or location and implementing a high spec alarm to ward off thieves. Using car safety devices can also help too.

Choose the right cover

You may find policy prices surprise you, choosing insurance with the most cover such as fully comprehensive, may well be the cheapest on the market. Ask MyFirstUK to compare different cover options to find you the best deal.

Avoid car modifications

Making your car more luxurious and powerful may seem like a good idea, but these modifications are likely to hike up your premiums. For cheap insurance for young drivers, stick to production-only models.

Improve your driving

Obtaining extra driving skills and experience with advanced driver qualifications can lower your premiums as insurers will see that you are a lesser risk. Taking time and tests to prove your safe driving skills will help you feel more confident on the road and may lower your premiums too.

Consider night curfews

Some insurers will make their policies cheaper by imposing night curfews. For example, some insurers may ask that you do not drive between 11 pm and 6 am as this is the time when the most serious accidents occur. Check your policy carefully to see if you have a curfew as driving during curfew could invalidate your insurance.

Increase your excess

If you have some cash saved up, it may be worthwhile increasing your voluntary excess on your insurance. This means that you will have to pay for repairs and replacements up to a certain amount. By increasing your excess, it can lower your overall premiums.

Black box insurance

Many insurers now offer black box insurance to young drivers. This is considered a much fairer way to determine premium costs and could save you a lot of money. Ask MyFirstUK about the best black box insurance policies that analyse your driving style rather than your demographic.

 

What can MyFirstUK do for you as a Young Driver?

At MyFirstUK, we will search high and low to bring you the best deals and offer all the help we can to help reduce your premiums and make enjoying the freedom of the open road much more affordable. We can check through all of the insurance options to find the cheapest insurance for young drivers. As each insurer is different, we will review the terms carefully to ensure you are making the right choice for you and your vehicle.