Looking to buy but insurance is a problem. Help?

Wow, nice job.
As you say, there are insurers around that will insure you, you just have to look for them. http://www.keithmichaels.co.uk/ may do it, look for specialist exotic insurers/sports car insurers. Perhaps you could enquire at local supercar dealerships?

 

Try Aon thats who i use, not sure about age though. Good Luck.

 

Your going to struggle at the moment in terms of insurance. Also if i was going to buy a 430 or any other such car on finance, right now i simply wouldn't bother. Its very hard to get finance at the moment (i have a friend who has 3 times the value of the car he wanted to buy in his account and they still refused him credit) and even if you do, the deal you get will stink. I was 22 when i bought my 360 and even back then it was hard, i got the family to put all cars on one fleet policy which made the yearly insurance amount half decent. Without the fleet policy it wuld have been ridiculous and i wouldn't have bothered. 2 years later and no claims and no issues, the price came down, a lot.

If i were you i wouldn't bother at the moment, the market for these types of cars is going to keep falling and for a while, things like finance and insurance will be not worth the bother.

Just my thoughts.

ps - please don't evey put a Skyline in the same sentence as a Ferrari again (if i knew how to do smilies i'd put one here

 

imo you'll be better off with a 355 to start with, pay cash, no major worries about depreciation, maybe slightly lower insurance cost and a great car.

 

I think right now its a much more sensible way to go (although i'd buy a 360 over a 355 as its a far better car in every department IMO) Get a more expensive car whenever this economic crap has passed. Plus as i say, there are a lot of 430's for sale at the moment, people can't get finance so prices are going to drop IMO.

I've had my eye on something for a while, but i would have financed it because i need cash for my business's and when i looked at the deals i decided against it. I have a new business launching end of Sept and hopefully when that settles down this current crap will be over and i'll have a look again. (although i change my mind every day at the moment).

 

Couldn't agree more. It'll get you used to Ferrari ownership, insurance will less of an issue, it's plenty quick enough to start with, it's drop dead gorgeous, and people don't think of it as an old Ferrari yet so it fits your profile. Oh, and it sounds great too. If you feel the need to upgrade in two years then things won't be such a surprise and you can go after what you really want. Also, depreciation on the F430 will then be much less.

BTW, I may sound like an old fart (38 actually) now, but if you're smart you put at least couple of hundred pounds aside every month and start building equity and liquidity. You'll thank me in a 10, 15 years time.

Congrats on the job - I only start making decent money 15 years after you! Enjoy it!


Onno

 

Hey, I'm 21 and recently purchased a F430 Spider in May. I've had high insurance group cars in the past like a S500 and my other car (Jaguar XJR) so I thought insurance would be fine, just a little more obviously. I'm was with a Norwich Union minifleet of around 15 cars and before the F430, the insurance was around 5.5k. I ordered the Ferrari in November so I had a good 6 months to sort out the insurance and trust me it was an awful experience! I had all these brokers onto it and the first person came back with 54k!! Yes 54k for a year....Most people just put the phone down but finally after pleading with Norwich Union we managed to get the insurance for the F430 down to 7.5k. So overall the insurance fleet price went to 15k (also bought a new C-class).

The car was on its way so I just accepted the insurance.....well just this week (WEDS) my insurance guy called up and told me that Groupama have a new minifleet policy and they have got my whole fleet down to 12k.

PM me if you need any help mate, trust me I tried so hard for so long that I must've spoken to every prestige insurer in the country!!

 

hi there,

Been there in the same situation over insurance. As you mention most insurers wont touch you until your 25 or pay some rediculous premium, when i was 17 bought a new punto at a cost of £6.5k but the insurance wanted £7k Norwich union that was, ive still got the quote somewhere.
Anyway to get to the point although Im only driving a mondial, Ive insured it with elephant.co.uk fully comp cost £800 Im now only just 24. No hassell or anything only thing was, there breakdown cover is expensive so buy a separate RAC/AA... personal cover. I know of other people on here using them another guy is about 25 with a 348 insured with them.

 

IIRC on the 355 the engine has to come out for the cambelt change and it doesn't for the 360. I assume there are other accessability and therefore cost issues with the 355.

 

what the hell do you do at 21 to be able to afford to LOOK at these cars??? well done whatever it is lol

I'm in no position to give practical advice, i havent tried to insure a Ferrari, however the sensible option would be to go for something like a 355, avoid finance. Its worth paying through your teeth for insurance, but when you eventualy come to look at the big cars you will be in a better position to purchase one.

 

Bit of a change from the 430 you initially decided on !

Mind you the 355 is a much better looking car

Look here : www.the355.com

 

Pharmaceutical engineering perhaps (nudge wink) since I can think of no other branch of engineering that pays well !!!

 

Although not all agree (I'm one) they rule is that the newer a Ferrari the more compromised on looks and charactuer it is. But the 360 was a big improvement on the 355 and the 430 is another big improvement on the 360 in terms of everything apart from looks.

I personally think the 360 is the best value 'supercar' on the market. Considering you can get a very good one for £45k-£50k, its a bargain. On another note, im no fan of the 430, i'd have a 360 CS over a 430 every day of the week. 430 Scuderia is interesting, but i've never driven one or even heard one. You then also have the heavy price tag with the 430 Scud and im just not sure i could pay that amount of money for one, when i'd rather buy a 288 GTO, F40 and use a bicycle for everyday use.

Besides, which person who buys a 430 Scud will ever actually use the car for the reason it was created? I just don't understand anyone who pays £200k for a track car and never uses it on a track.

 

Agree with all you say Chris

 

Complete and utter nonsense!

The 360 isn't a patch on the 355 in terms of looks or sound or driver involvement! It's a dull car, further spoiled by badly executed "driver aids". The 430 however is at least a decent drive, still seriously lacking in the looks dept, but at least it's lost the wide-mouthed frog appearance of its older sibling!

 

It's my opinion Clive and im entitled to it. The 360 for me, is a far better car in every single department, including looks. Thats why i bought one over a 355.

Maybe you should grow up and not rubbish people's opinion as complete and utter nonsense. Its a bit pathetic.

 

430 better????

one word. Stradale.