Model 3 Insurance - Young Driver

[rerola]

Hey there, I've just made the initial deposit for a SR+ Model 3 and I now need to sort insurance out and stuff.

I've been trying to search for insurance options but it seems like no one wants to insure me based on the fact that I'm 19. I only managed to find one quote for £14000 which is just absurd.

Has anyone been in a similar situation or have any advice for this situation. Any help would be appreciated. Thanks.

 

[Tony Hoyle]

It's a performance car. The major insurers won't insure you but I've heard that there are specialists. It will be expensive.. You might find yourself accepting that 14k quote!

You could try Novo.

 

[Durzel]

Not being funny but don't you think it would've made sense to check insurance before buying it?

I think you will struggle even as a named driver (if any insurance company will even allow that). It's a Group 50 car that does 0-60 in ~4 seconds.

 

[TezzyMod3]

If you’re a learner, learner insurance is really cheap and usually don’t take into account the car.

Otherwise, try ringing direct line and the likes.

 

[MrBadger]

Just curious, what sort of figure were you expecting?

 

[TezzyMod3]

Expect to pay £2000-2500 atleast?

 

[mrobins64495]

Hey there, I've just made the initial deposit for a SR+ Model 3 and I now need to sort insurance out and stuff.

I've been trying to search for insurance options but it seems like no one wants to insure me based on the fact that I'm 19. I only managed to find one quote for £14000 which is just absurd.

Has anyone been in a similar situation or have any advice for this situation. Any help would be appreciated. Thanks.

Well that was stupid... without sounding judgey but who buys a Tesla at 19... as someone else said it’s a performance car, and I’m not sure it’s the wisest choice.

Also I’m not sure I’d buy a car before checking the insurance that’s just daft.

To give context I’m 29 with 11 years no claims, and my insurance is still over £1000... my Vauxhall’s Corsa back at 19 cost me £2500...

 

[pgkevet]

I'm not sure whether to be sympathetic or not. It all depends on your personal circumstances. back when i was 19 I drove an Austen A30 that cost £27. A similar quality car now would cost... about £27. I had to bang on the B pillar to get the indicator flag to pop out and drilled holes in the footwell to let the water back out when it rained. I could ony afford insurance ;cos I was able to use the NCD from 2 yrs of a honda 50. You don't want to hear it but unless your a dot.com wiz or youtube champ buy something cheap and put the money away towards a mortgage deposit.

 

[booyaka76]

£40k car at 19....that's some paperround.....

Outside of the slightly negative comments above - insurance for ANY car at 19 will be crazy.

I'd be stunned if you find a quote under £10k......If you pay that amount, then I would call that stupid paying that amount for insurance.

 

[Tyberzann]

Tried adding someone older as a named driver? I know that can help. I'm 27 now and didn't learn to drive till 21 and mine were still high then when i brought a brand new Focus ST. You may have to look around and hope that you find that gem of an insurer.

 

[Durzel]

I'd be amazed if any regular insurance company will insure anyone under 21, maybe even 25 on the car.

Obviously some will quote but the premiums will be eye watering.

 

[eddycrim]

In fairness to the insurance company if i was 19 and I had my model 3 it would definitely be wrapped around a tree. So 14 grand would be a bad bet on their part.

Meby that's just me though.

 

[ivangr]

i’m going to sound like an old man.

you will more than likely crash the car at such a young age. it’s too fast and at 19 you are still full of piss and vinegar. (yes, you are)

the insurers calculate risk carefully, based on fact and figures. they are betting you will probably crash it. it’s not age discrimination.

i do feel for you though because if tesla’s were about when I was 19 i’d be in the same position probably.

save your money to go live on your own, buy a house, buy a zoe, buy an oculus quest, do some travelling.

buy the fast car later.

 

[mrobins64495]

I'd be amazed if any regular insurance company will insure anyone under 21, maybe even 25 on the car.

Obviously some will quote but the premiums will be eye watering.

i’m going to sound like an old man.

you will more than likely crash the car at such a young age. it’s too fast and at 19 you are still full of piss and vinegar. (yes, you are)

the insurers calculate risk carefully, based on fact and figures. they are betting you will probably crash it. it’s not age discrimination.

i do feel for you though because if tesla’s were about when I was 19 i’d be in the same position probably.

save your money to go live on your own, buy a house, buy a zoe, buy an oculus quest, do some travelling.

buy the fast car later.

Well said, seconded.

 

[ivangr]

aside from insurance, will you even be able to get finance for that amount at 19?

 

[rerola]

Just curious, what sort of figure were you expecting?

Like anything below 5k would be reasonable tbh

 

[rerola]

aside from insurance, will you even be able to get finance for that amount at 19?

I would be paying by cash

 

[Tony Hoyle]

Like anything below 5k would be reasonable tbh

I think you'll be lucky to get it that low.

 

[booyaka76]

I would be paying by cash

I'll throw this out there and bite....

Cash? for a £40k plus car.....

At 19, spend £10k on a car, £2k on insurance and enjoy it, save yourself the money of a £40k car, £5-10k insurance premiums and the likelyhood of wrapping it round a tree at some point in the near future.

That way you have £20-£25k in your pocket to spend the summers in Ibiza on holiday and a large house deposit for the future.

Don't spend £40k plus on a car at 19.......Mate of mine spent £10k plus about £20k modding his car between the ages of 19-22.....Crashed it twice, repaired under insurance twice and at the age of 22, couldn't no longer get insurance from ANYONE.....

 

[rubberfish]

Best bet is to get your parents to be owner and main named driver and put you on the insurance as a secondary driver, will still be pricey but probably less so. I drove my dad’s Volvo Turbo more than he did back in the 90s when I was 17 and never wrapped it around a tree, but then again the 0-60 was 9.6!