My daughter's left her car with me to store while shes in germany for 2 years and i want to know if anyone has used a pay as you go car insurance. I am going to have to give it a run know and then.
Pay as you go car Insurance
Comments
How much is the car worth?
Might be better off selling it and putting money in term deposit.
By the time you pay rego and insurance you could be a couple of grand down. Then there is the depreciation.
Unless it’s a classic car or something.Its an $80000 investment car
Investment car? Almost all cars depreciate in value.
Member since 2014 and you don't know the ol' OzBargain BMW investment car joke? Shame on you!
Well according to google, I found this https://www.choosi.com.au/car-insurance/pay-as-you-drive-car…
So your options are to get a lower KM insurance policy.I am using it for both our cars (full comprehensive), and it works out cheaper than buying unlimited km policy.
Why don’t you just sell it on behalf of your daughter ?
What’s the point of the car siting around for 2 years ?
My daughter's idea to keep it she's still paying the rego, she just likes the car,depreciation doesn't bover her as she tends to give em to charatie and get a tax break whitch is better then a trade in. Its a 2009 Hyundai i30 shes just had new tyres fitted before she left and it runs well. I thought well i can garage it and take it for a run once a fortnight thats why i asked about Insurance.
Yes I have got Pay As You Go. Works much cheaper if someone doesnt drive the car much.
I have also claimed on it - no problems at all. You need to buy minimum set of Ks everyone which you shouldnt exceed. Low the Ks bought lower the insurance. Given it is a 10yr old car and most of time will be garaged and you are only going to drive in once in a fortnight - probably not worth having an insurance at all except 3rd party property.
Is Pay As You Go cheaper than 3rd party property ?
No PAYG is expensive as it is comprehensive insurance.
give em to charity and get a tax break
I need to know more about this!!
There's a charity called " Hand Break Turn " there are others, who need old cars to teach teens how to work on them. I went to trade in my Magna for a new Golf and they only offered me $500 as trade in. I gave it to Hand Break Turn they valued it at $1600 gave me a receipt which helps a bit towards your tax, not a lot but better then giving to a car dealer to make a profit.
So that's pre-tax deduction right?
talk to your insurer about having it registered under your household policy. I suspect they'll say no.
Forget the rego and insurance, just drive it around the block once a month and don't get caught.
Third party fire and theft. Cheap and will insure it against catching fire or being stolen, the two biggest risks for cars in storage.
Cancel the rego for 2 years. It will work out a lot cheaper and just get a roadworthy done when she comes back.
I don't understand what pay as you go insurance is - does that mean if you never drive the car then you have no insurance? What happens if you never drive it but somebody steals the car out of your garage?