Sunday 6 February 2011

Cheap Car Insurance

As one of my money-saving ideas, I have been thinking for a while about handing back my company car and saving a load of income tax. I have a little saved and have been getting quite excited about what car I might buy. However there appears to be a problem... even though I have been searching for the cheapest car insurance, I can't afford fully comprehensive cover. If I were to spend my nest-egg on a car, I wouldn't want to risk losing it by insuring only third party.

I have come up with a compromise, I won't spend my savings, I will get a super-cheap car that someone wants to off-load (there are always cars that people are glad to get rid of if you know the right people..). It will need to be a car that is cheap to insure, so it won't need to be top of the range - I will insure that for a couple of years on third party to see if I can build up some no claims bonus, then maybe I will be in a position (hopefully with more eggs added to the nest!) to purchase something a bit flashier... Actually, I have never really gone out and bought a car that I liked for myself, I have always 'made do' with cars that friends or relatives were selling on... It would be really nice one day to actually buy a car that I wanted!

No comments: