Mine is under that, when I call the insurance and say I'm the owner of the S3 they stop me because they see it as an A3.
But I notice only some companies support this.
S3 owners under 25
- Thread starter James.B8
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Mine is under that, when I call the insurance and say I'm the owner of the S3 they stop me because they see it as an A3.
But I notice only some companies support this.
I got tricked into this with Elephant a few weeks back. My dealer said it is illegal for them to do it.
I called back up and spoke to a very nice chap in India, who informed me that the information given to me was wrong and as long as they are made aware it has options that were paid for in the market value of the car... they are fine. He was really apologetic and even better, my policy adjustment made it £20 a month cheaper than it originally was.
S3GURI
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I'll definitely give them another call. And see what they say? Elephant and admiral are under the same company so don't see it being an issue.
Does anyone know if there is a reference online that says this?
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James Clatworthy
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I worked for admiral, their stance on the situation is.. that if you have reversing sensors, they are more expensive to replace than a standard bumper, therefore they should be disclosed.. however, i dealt with numerous incidents where this was an issue that admiral just then replaced the bumper, due to misunderstanding... they would never invalidate your insurance for things like this, unless you had an un-insurable mod, or un-insurable conviction from their end, otherwise they just backdate the cost and deduct it from your pay out. I personally, don't disclose my optional extra's as you can argue they are covered in the estimated value of your car (which you pay a premium for) when you insured it. HOWEVER, i must stress this is only my opinion..
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What you've got to remember is most of them can't afford a S3 in the tradition sense of saving up / bank loan to purchase a car outright, but are using a PCP so never actually fully outright pay £40k+ for the car. You can see this with the way cars are now advertised it's not £XXXXX on the road price anymore but £XXX per month. Think of it more like a mobile phone contract for £XX per month you can upgrade every 12 / 24 months etc to the latest model handset & it's a similar situation with PCP's on cars which works well for a lot of people.
James Clatworthy
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even if i had 40k cash, to buy one i'd still PCP it so the spare 30k can be invested to offset depreciation...
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I'm sure if any of us actually had £40k in the bank we'd find something more interesting to spend it on rather than an S3 (no offence to any S3 owners). It would be interesting to know the break down of how most new cars are purchased as I would imagine the majority of private purchases would be on PCP's these days. (I see Audi are having one of their 10 day sales events... currently 10.9% APR on a PCP lol ).
James Clatworthy
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I'm using my existing A3 as a deposit for mine which has given a decent size deposit for the PCP and plan to pay off the finance with a bank loan after a few months (so keeping the deposit contribution), yes the monthly payments will be slightly more but it'll be over the same term and I'll own the car at the end to do with as I please. I just can't get my head around paying 6.9% APR with Audi but 3% with a high street bank, but I appreciate everyone's got different opinions.
However, when I get my next car in 3 years I'll likely have a mortgage so probably have to opt for a PCP then to lower the monthlies.
However, when I get my next car in 3 years I'll likely have a mortgage so probably have to opt for a PCP then to lower the monthlies.
Yes they are under the same umbrella so definitely give them a call. I'm going to call them up when I get 10 minutes this week, to ask someone in the UK what they were on to!
He quoted me what was on his screen "Modifications are changes made to the car after the car has left the manufacturer, not including optional extras". I have one, an exhaust mod which I declared for the box delete.
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Found this on Elephants website
"Can I modify my car?"
Modifications are allowed but due to the amount of possibilities there are when modifying your motor you would need to declare them all when getting your quote to see if we are able to cover your car with them in place.
If you have a policy and intend on modifying your car during the term, you will need to let us know beforehand so we can let you know how that will affect your policy.
You also need to let us know about optional extras such as the chilli pack on a MINI.
"Can I modify my car?"
Modifications are allowed but due to the amount of possibilities there are when modifying your motor you would need to declare them all when getting your quote to see if we are able to cover your car with them in place.
If you have a policy and intend on modifying your car during the term, you will need to let us know beforehand so we can let you know how that will affect your policy.
You also need to let us know about optional extras such as the chilli pack on a MINI.
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This is one of those things that annoy me about what should a simple process, other than us geeky forum types is a regular punter buying a 15yr old Mini going to have the remotest idea if the car has a Chilli pack or not!. Fair enough most insurers would probably accept a claim if you didn't declare some options as your declaration is 'to the best of your reasonable knowledge' but you can bet some insurers would try & weasel out grrr!.
Not sure how anyone can have a different 'opinion'....? It's pure fact that you will save thousands being on a lower APR and not having a balloon payment not getting any smaller, but still having interest charges on it. Great idea to do it the way you are!
All I will say is the best of luck actually getting the headline rate from the high street banks.....!
Remember that affordability counts with mortgages, so outgoings with PCP will count against how much they will lend
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Yeah what I meant by opinion was some people are just happy to pay the monthly PCP payment including the interest as they see that as their monthly expenditure for a car which is totally fine, I get that to a certain extent and considered it myself.Not sure how anyone can have a different 'opinion'....? It's pure fact that you will save thousands being on a lower APR and not having a balloon payment not getting any smaller, but still having interest charges on it. Great idea to do it the way you are!
All I will say is the best of luck actually getting the headline rate from the high street banks.....!
Remember that affordability counts with mortgages, so outgoings with PCP will count against how much they will lend
I guess what I mean is at this moment in time I can't justify paying the PCP and paying all that extra interest and in effect pay back all of the money I've had discounted by the dealer in the form of the monthly payments.
Interesting point about mortgages, most of my friends that are in that position have waited to buy a house before taking out another PCP that way they know what their monthly expenditure is and how much they can spend on a car. Also don't have to declare it as a monthly commitment as the mortgage is already sorted
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Little update on the insurance front (I'm not under 25 though sadly)
Phoned Direct Line today regarding my renewal of £649 (£364 last year for the R32!) declared all options, none of which made any difference and added Mrs H which saved me an extra £117.70 taking it to £531.30 - result!
Phoned Direct Line today regarding my renewal of £649 (£364 last year for the R32!) declared all options, none of which made any difference and added Mrs H which saved me an extra £117.70 taking it to £531.30 - result!
Brilliant....Axa won't insure me 
...
22yo, 4 years no claims driving for 5, firefighter in the nuclear industry and firefighter in the emergency services as well. Live in a nice area down a private road...
...22yo, 4 years no claims driving for 5, firefighter in the nuclear industry and firefighter in the emergency services as well. Live in a nice area down a private road...
James Clatworthy
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Try Admiral James, i've Just had my renewal from Admiral.. they wanted £1052... managed to get it down to £670 so i'm happy with that
They came in cheapest on go compare actually.
Blimey that's a big knock down. How did you manage that? I'll give them a ring later! Cheers
maybe there is a benefit being old then, im 41 this year and i pay..... wait for it.....................187.00 with mods declared. think thats with privilage and i have over 9 years NCD (i think they only go upto 9 for discounts) If i remember i was only paying 160.00 for my R32 with mods declared.
Blimey even then that's still cheap!! I've agreed to stay with my current insurer and I'm paying £910 for the year now
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You old fart lol I paid around £360 for the R32, S3 is £531.30
yeah i think its cheap, my mate has his m3 which hes paying silly money 200 a year and its heavily modified
yeah i assumed the s3 would be cheaper but then it was newer. but i saved on road tax massively. does it still count if i still act like im 22. Actually ill let you know as i have 5 a side next week and i havent played in a year. I reckon they will stretcher me off.
I really don't understand how these insurance companies work. Some guys on here are paying half of what I'm paying and are of a similar age. Maybe it's because of my job?
I never have either to be honest, I know job counts whether you use it for travelling to work and who you add to the policy. If it makes anyone feel better I remember paying 2500
To insure a Renault 5 turbo when I was 18 lol
To insure a Renault 5 turbo when I was 18 lol
I have considered getting another car for a daily but I dunno.
Haha well I've never paid that much thank god
Might be wrong, but I reckon area, job and age are the biggest factors.
I think it's probably age because I can't see why a being a fire fighter in the private sector and emergency services is bad and can't see why where I live is bad as it was rated one of the best villages to live in the U.K.?
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Really don't understand how there is so much variation for people it's crazy!!
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Yeah I don't get it either - I went on all of the comparison websites & all of the insurers I could think of not on them & the lowest comp policy, protected no claims etc, to match my AXA policy was LV @ £420, then Direct Line @ £447 & then AXA @ £470. None of the oddball little companies you usually get quotes from on the comparision websites came in at all... maybe insurance is no longer the easy money it once was with all the whiplash claims etc?.
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James Clatworthy
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I basically threatened to cancel my policy, which knocked £210 off some how... took off a load of extra's and rubbish, and the paid on a one off.. worked out quite well in the end
soo....i got my car on friday and when im entering the reg into insurance and comparison sites its not coming up with the car...guessing because its just going through the system but im sure its made my quotes go up and these will only be estimates as they have no reg to put it with yet..***
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I had the same issue Matt, Direct Line couldn't find it on the phone even though it did come up on their site by that point!
They're not cheap to insure though, I've just paid £530 and I'm 30 with 9+ years NCB (not sure how many tbh) driving since I was 18. In comparison I paid £360 for the R32 last year.
value of the car, is it what we paid? cos now ive driven it away and put 200 miles on its probably knocked off a good chunk already....id honestly be happy at ~£1700
