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Young, limited funds, high insurance and a desire for a British classic...

I am young at 21, with one years only full UK license holding (2 in August). I have around £2500 available to buy a classic car, with Insurance, Road Tax (although ideally looking for Road Tax free) and to MOT/repair with. The consequences of this situation mean I really, currently cannot spend much more than that tight budget.
My ideal cars are Rovers. The P6 is where I am looking but also at the P4. The cost of 3 litres and P5B Rovers has written them off.
Most insurance companies for classic vehicles have been really unhelpful either through extortionate offers or refusing on age, having no second car or it being the wrong car (for example, only cover Morris Minors etc. for below 25).
I would like to know what kind of advice you could offer and if there is any British classic you could recommend or a way one might be able to secure a Rover P6 (ideally 3500) at this level of funding?
Thank you

Asked on 5 April 2013 by pigeons99

Answered by Keith Adams
That's a tough one, because to get a classic insurance policy, you really need to be 25 and certainly have to be running a newer car as a daily - as the classic will be seen as secondary to this newer car. And on that basis if you're looking for a Rover P6 and your budget is limited to £2500 including insurance, it will be tight. Very tight.

It might be worth talking to a specialist such as Adrian Flux or Footman James anyway, as they might underwrite the car as your daily driver, as long as you declare a limited mileage and agree a value. They are both very receptive to younger drivers with specialist cars. And they aren't the only ones. Also, join the owners' clubs (Rover Sports Register or Rover P4 Drivers' Guild) as they almost certainly offer discounted insurance schemes for club members with affiliated companies.

Budget around £1000-1500 per year for your insurance, which won't give you masses to play with to purchase your car. But it's doable if you shop around and aren't looking for an immaculate P6. Besides, we all love a rolling project.

You don't say if this will be your only car, but I am assuming it will be. Please get back in touch if it isn't.
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