UNDER 21 and buying an M3?

[bryce86]

who's done it? i'd like to hear from ya's, and how mad the insurance was :yikes:

hey im bryce, im 20 from Scotland, and would love nothing more than to own an m3, but is it really possible? I currently drive a Cooper S but fancy a change now.

i could stretch myself to buy one but am i gonna get s h 1 t on trying to insure?

please, no-one make comments about daddy buying this etc, its not the case.

thanks and I look forward to hearing from ya's :)

ps. if u are under 21 could ya give ur age and an estimate of ur insurance for a year

pps. is it in your name? how years no claims? or is it through a parent?

thanks again!

[InvIs Inc]

where in scotland are you from dude?

[Juber]

Fair play mate, wicked having an M3 at 20!

Im 18 and driving my dads 520i. I have been since 17, i want an M3 but its insurance! :(

all the best

[LordNikon]

Your doing well to be driving a MCS @ 20 let alone an M3. IF you can afford to buy it get it, sure another £1500 wont be a problem for insurance.

Try online quotes for your area, the only true way you can get an idea as so much depends on postcode and location these days !

[sjj84]

Your doing well to be driving a MCS @ 20 let alone an M3. IF you can afford to buy it get it, sure another £1500 wont be a problem for insurance.

Try online quotes for your area, the only true way you can get an idea as so much depends on postcode and location these days !

Would have thought it would be a fair bit more than £1500 if it's a E46 M3 you are after. That's if you can get insured at all, alot of companies won't touch under 21's some even under 25's on a car like the M3

[m3cslboy]

i had a E36 M3 at 19 i paid around 5 back then a year. It was 2k more a year than a Civic Type R which i was running.

I had a CSL at 21(22 currently) thats set me back 4,700 a year. I have no NCB, fully comp (M3's can only be insured fully comp). Car is garaged , trackered and does less than 15K a year. Car has to be in your name to get proper fully comp insurance.

You could get cheaper insurance but i've been with my insurance company since i had my provisional licesne, plus my brokers veryu helpful. CiS is my insurance company.

If you can also afford to run the car then go for it, but a M3 is not a cheap car to run. Especially when things go wrong, which they do !

good luck with everything !!!!!!

[bryce86]

elephant came back with a quote of £1300.... BUT thats through my dads name, and thats in 1years time from today when I'll be turning 21. So how bad could it actually be for me just now? just cant seem to get anyone to quote online unless i say im 21.

does anyone know of anyone under 21 thats got an M3 and would it be possible to let them know of this thread, that'd be great.

Cheers!

Iv sent u a pm btw, invisiblekid.

[M5 SC]

Try confused.com and that will give you an idea of what your premium could be... in my opinion though it could be into the 3-4k bracket if you insure it now.

You could give adrian flux a call in the morning and see what they are saying, either way if you get it for under 2k bite there hands off!

Best of luck anyway and welcome to the forum! :)

[benny boy]

lmao i cant get insured on a m3 25 in two weeks time nearly 3 years ncb :mad:

[bryce86]

^ you should try elephant.com mate

[benny boy]

4k fora m3 e46 and 1k for my 318is wich im still not happy about way to much

[RDG 40]

im 24 and im always messing with quotes and its around 2.5k for me and ive got 4 yrs NCB.

It is all well and good having an M3 but do remember all the costs and can it be justified?? y not a 330 or something?

Servicing, parts, general costs etc are all twice the price.

Id have an M3 tomorrow but i dont see the point at the min when it would costs thousands to keep insured let alone run.

Good luck if you do though fair play.

[baz1985]

Mate, I'm 21 with 4yrs ncd. The best quote I received was £3500 fc, garaged, tracker, in good postcode, parents as named drivers, clean license etc etc. That figure is/was out of my reach. All UK Insurance Limited Co's (Tesco, Direct Line et al) have 23 as min age so they are a no go. Flux and all the ChavPower brokers couldn't give me quote on a 330. I guess you could try the named driver route, but only if you've got your own policy on another car, even for this you'll have to be 21 I'd have thought. Personally, I'd wait till you're a little older unless money is no object :)

[Saggers]

I usually have a look at autotrader for a rough idea.
I will have 5 years no claims at the end of this year and i'm still looking at paying 2k a year to insure a E46 M3. Im 22 - will be 23 at the time.

[zarnd]

i'm 22 and i looked at getting an e39 M5 to replace my 530iA Sport with, for me a five series is cheaper to insure than the equivalent 3 series. an M5 for me with two years no claims as the 5 is my weekend car, was £4,500 p.a which is absolutely ridiculous, as much as i want one i can't justify that cost! unfortunately i will be waiting another two and a half years before i will realistically be looking to change to an M car! an M3 will be the same if not more to insure for me for some reason

personally, whilst i can afford to buy a secondhand e39 from BMW i can't afford the insurance and feel sick at the thought of the maintenance costs on it!

if you do manage to get insurance on it, good luck to you!

[paulm3]

i was 22 when got my m3, cost me £1400. now @ 23 costs me just under 1k. so might b worth waitin a extra year?? unless u can afford it.. then go for it.
im with elephant and have 2ync

[bryce86]

hey guys, just read through all your post, firstly i gotta say ALL your cars are stunning ;) secondly, thanks for the great advice, im in a similar situation as zarnd - I can afford the car, but im not paying ridiculous prices for insurance. iv came across some stunning 3ers on e46fanatics.com earlier. only thing that bugs me is they still lack that "beefy" look of the m3.

here's a wee pic of one i like, what ya's think?

[phat///M3]

You're all gonna hate me but I'm 24 and my insurance fully comp on the M3 is 880 € p.a. No accidents since I've been driving (i.e. 6 years NCB), so great to not have to pay crazy UK insurance quotes...

[J2D]

I'm 25 mate, costs me £830 a year, thats limited milage of 5000 miles, tracker, garaged with full protected NCB, with Bell Direct.

The bloke who bought my E36 M3 convert off me had just turned 21, he was paying £4k!!!!!

My insurance for my E46 M3 coupe was cheaper than E36 M3 convert!! mad I know but was all cos the old one was a soft top!

Its well worth trying bell direct though, I fold they were the cheapest by miles.

Good luck tho mate

[bryce86]

thanks

just gonna try Bell just now.

Best quote iv had so far - using confused- is £2950/yr. Thats through my parents aswell.

[RDG 40]

to be honest dont go down the through parents route if you are the owner and you drive it the most it is against the law for you not to b policy holder. Just food for thought they are catching on to this these days and you wont get a pay out if ought happens.

[bryce86]

Bell says... All drivers have to be over 21yo. :(

[bryce86]

to be honest dont go down the through parents route if you are the owner and you drive it the most it is against the law for you not to b policy holder. Just food for thought they are catching on to this these days and you wont get a pay out if ought happens.

Fair point buddy but how would they know who drives the car more?

ps iv sent u a pm.

[InvIs Inc]

another factor is where ur actually living aswell dude... if u living in a high risk area for car crime ur gunna be paying more for that aswell :(

[zarnd]

i was 22 when got my m3, cost me £1400. now @ 23 costs me just under 1k. so might b worth waitin a extra year?? unless u can afford it.. then go for it.
im with elephant and have 2ync

just out of interest mate, was that in your own name!?!

[benny boy]

Well direct line just quoted me £650 for my 318is next year and a m3 for £1800 so im happy lol [cool

[Cannondale99]

Hi there,

I'm 20, and drive a 523i SE. My own car, which I purchased, and I insure it for £1,450, fully comprehensive, with Direct Line, and 2 years no claims under my belt. I purchased the car when I was 19, with 1 years no claims, and was paying £2,300 for insurance, but now I've got another years no claims, and I'm 20, it's come down a lot.

However.....

In March, I passed my Airmen Selection Tests for the Royal Air Force, and then went on to passing my selection interview. Today, I've had my RAF Medical, and I've passed this too, so, when I join the RAF (there's still a small "IF"), I'll be treating myself to an E36 M3 Evo Vert. I've got a couple of quotes too, cheapest was £3080 with Admiral, fully comprehensive of course. With the large increase in wage in the RAF from my stupid supermarket job at the moment, I'll happily pay this :)

Just hope I pass the 9 weeks of military training, which is next! :D

[Mikedav]

Im 23, my 330Ci Sport is 540FC . 6 years NCB and with Directline. Quotes for an M3 were in the £1200 range, which isn't too bad, but its the running costs you really need to consider. I made the decision to go 330 because I didn't like the kind of M3 my money would buy, and by all accounts here the general running and service costs aren't just higher - they are triple....

I cannot comprehend spending any more than £1500 on insurance for anything less than a Ferrari or top end Porsche.