Buying a new car with rego but no insurance

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  MondaySleeper on 12/02/2014 - 12:55

  +3

  1. Irrespective of you had a foreign licence valid for 9 years, you cant drive in AU without supervision when on L. When the used car is sold, CTP and Rego is must and I would expect its valid. If so you can drive but under the L's T&C. You don't need comprehensive as a must have but if you don't have, you are on your own if something happens.

  2. You can take it for Licence test but you need to make sure that Brake, Indicator etc are working fine. Again you need someone with FULL licence to take you there.

  3. Just because that you are going to appear for the Test on 26-Feb, don't buy the car. Chances are there, you may fail and what will happen? Do you have anybody else who will be driving, like your partner. I wish you get through the test but you cant be 100% sure.

  Anyway all the best for your test. Keep yourself calm and never rush.

  Sab

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  hello007 on 12/02/2014 - 13:09

  If you don't get comprehensive insurance - and you crash into a Lamborghini - who is fully insured - on your first drive - then be prepared to spend the next 20 years paying money to his insurance company, plus legal costs.

  Talking serious dollars.

  Suggest Coles Insurance - call them and ask for the premium with a high excess.

  I have a $1600 excess - which I have to pay if I have a smash thats my fault - but I only pay about $270 per year for comprehensive insurance - which helps protect me from the Lamborghini's insurance company suing me to pay for damage to his vehicle.

  Also - drive like a Nun - Stay at least 70m to 100m behind vehicles in front of you - because the car in front of him is about to slam on his brakes — and if you are too close behind — then you risk a nasty front and tail end collision.

  If you leave a large gap between you and the vehicle in front, dont speed, and allow ample time for trips — then you can brake slowly and gently and reduce your chance of being hit in the rear end by the idiot behind you who is surfing FaceTube and YouBook, sending SMS messages, trying to drive, and tongue fighting with his/her girlfriend/boyfriend!

  Good Luck.

  Be calm, sensible, no rush and be safe!

  • 

    ilostnemo on 12/02/2014 - 13:26

    +4

    third party insurance will cover the Lamborghini.

    Fully comprehensive covers yours and the other person.

    People who have bombs usually get third party fire and theft.

    If you stay 70m to 100m behind a car, this will attract other d1ckheads who will think that space is theirs and will change lane making it a unsafer environment.

    My mate used to work for RAC and he had a customer ring up as there car was written off during a test drive.

    The end result was the insurance company paid out and they received more than they would of, if they had sold it.

    Get cover from Day 1.

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  npc on 12/02/2014 - 14:58

  What a mess in question and answers:)

  • Why all this rush buying a car at first place? Get your license sorted then buy a car. Take a taxi or train before that.
  • You can certainly drive a car with no additional insurance, only CTP is compulsory.
  • Comprehensive insurance is something that you should consider to have or not. Keeping in mind you are going to buy a used car and all these crazy excesses…there is a chance you can happily live without it.
  • Third party property insurance is something worth having as car repairs are expensive in "straya", even hitting toyota will be painful for your pocket (not as painful as hitting lambo tho:)).Often it covers you from theft, fire and uninsured drivers for some value as well. It is also times cheaper then comprehensive.

  Insurance sales will disagree with me re comprehensive insurance:) They have to maintain their profits.

  • 

    Daabido on 12/02/2014 - 15:55

    Why do all you guys want this foreign trained driver to hit my Lambo?

    In all seriousness, I have seen many drivers with a foreign license who would have absolutely no chance of passing an Australian driving test. Some of them can barely drive in a straight line.

    The answers to your questions depends on how much your new used car is and whether you have assets you wish to protect.

    If you have any assets to your name you need insurance, otherwise it will go poof like a puff of smoke if you have an accident and are at fault.

    In Qld if you fail your practical driving test and have a foreign license you are no longer allowed to drive on that foreign license. It may be different in NSW… and stay away from my Lambo.

    • 

      npc on 12/02/2014 - 16:53

      If you have any assets to your name you need insurance, otherwise it will go poof like a puff of smoke if you have an accident and are at fault.

      No you don't need it, you just may want to have it, if you will feel yourself more comfortable having it. It may prevent your budget from stresses if you don't have any reserve.

      It also depends on how likely your asset will be destroyed or damaged and what are the chances that you'll be covered by insurance policy.

      However in longer term you'll always spend more for any type of insurance than you'll get in return. The only variable is how much more. Average John with Camry 1995 will make a profit for IC similar to the value of his car over 7-10 years. Does your car becomes a write-off every 10 years?

      RE Drivers..including overseas - i'm personally a fan of taxi drivers - they are unique and special:))

      I hope you lambo is insured, it might be costly to repair body kit after speed breakers here in qld, they are huge sometimes:)

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  coolstan on 12/02/2014 - 19:45

  sab2000 and hello007, thank you very much for your feedback and taking time to answer my question. I appreciate that.

  I now understand the difference between driving with and without comprehensive insurance.

  I am in no rush to buy the car just that after all the research and negotiation I found my dream car and I have fixed a deal so I want to finish it off. Instead of leaving it at the other person's hands I want to bring it home. They have requested if we finish off the formalities asap. And hence I am collecting and paying it this Saturday.

  If I decide to take the test I will only take a full license holder along with me. The car has rego until June so that technically means I can drive the car but at my risk. (Just understood that)

  sab2000, yes, I will be calm and thank you for your wish.

  hello007, will drive like a nun :D , yes I am thinking of paying a higher excess to keep my premium low and thank you for your concern.

  andyvolk, I am getting a Honda Civic 2012 hatch with smoking hot milano red color with just 8000km on it.
  (http://liveimages.redbook.com.au/redbook/car/spec/HOND29AU.j…) ITs really a new car so I would go for Comprehensive insurance. Thanks for your feedback though.

  Daabido, I have been driving in Oz for the last 5 years with my overseas license. So pretty please, you can relax in your Lambo. :) Thanks for your comment though.

  And, I've decided to take the test through a driving institute. Keeps everything simple.

  Thank you everyone!

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  zerocritical on 13/02/2014 - 08:01

  +2

  I totally agree with above comments for insurance from day one. There are options that you can look at:
  1. Go for month to month insurance and change the details once you get full licence. This should change the premium for next month.
  2. For annual premiums, I'm sure once your circumstance changes, your eligible extra premium you paid will be refunded. I got a refund when I added my wife's name on the insurance.

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  JediJan on 13/02/2014 - 12:33

  I also bought a vehicle before I had a full licence but I didn't drive it until I had my Ps sorted. In those days P platers often just took out the 3rd party propery damage insurance because comprehensive was so expensive at first. I was still taking driving lessons with a registered driving teacher, in his supplied vehicle, and also took my license test in that. If you take your own vehicle, you run the risk that any fault, even the most minor minor, is picked up and you have wasted your time and money with the booking, with a further wait for rebooking. Just not worth the risk. A registered driving instructor may also pick up on any bad driving habits you MAY have acquired over the years. Not many of the older drivers seem to perform the required head checks and many don't stop before the line at intersections; just an observation. I currently take my L plater son for lessons for experience (120 hours minimum) but he also has professional lessons. Seem to spend too much time pointing out the mistakes of others, and that is not only only the idiots who insist on tailgating a clearly plated L driver. Comprehensive insurance was quite reasonable really; 19yo son is a listed driver of my vehicle as a learner, and would pay same excess as me ($750) if he is at fault in a collision, premium $859 for the year; Youi. I have a great driving record though, probably what keeps It reasonable. Son will take his test in the driving school vehicle.