Tag Archives: Porsche

Renting vs Buying A Super Car

LamborghiniIf you are in the financial position to rent or buy a Ferrari, Porsche, Lamborghini, Aston Martin or another make of high performance car, you will need to decide which is the best option and you will also need a super car insurance quote. As with most things, there are for and against both options so let’s have a look at some of them. As a result, you may be better able to decide the best way forward.

Renting – For

  • Depreciation – as you will never own the vehicle you are not going to be bothered if the value of the super car you are driving drops in value.
  • Servicing/Mechanical Repairs – you are unlikely to be responsible for paying for the regular servicing of the vehicle or if it breaks down and needs a mechanical repair. The only thing that you may need to pay for are replacement tyres should one or more be punctured.
  • Poor Credit Rating – you will need to check with the rental company but you may find that you only need to put down a deposit and that no credit reference search will be required which means that it would not matter if you have a poor credit score.
  • Change the Car – if you decide say a couple of months into renting the Ferrari that you fancy driving around in say a Lamborghini, Aston Martin or Porsche then, subject to the terms of the rental agreement, you may be able to change it without any financial penalty enabling you to try out different super cars.
  • Possibly Less Expensive – when you take into account things like car loan repayments, servicing, possible depreciation and repair costs that you would have if you bought the car then you may discover that the monthly rental cost is lower than the overall monthly cost involved in buying the vehicle.
  • Selling the Car – this is something you will not have to worry about as you can just return it to the car rental company when no longer required.

Renting – Against

  • Repairs to Bodywork and Alloys – if you have a dent or scratch on the bodywork or alloy wheels then, depending upon the size of it, you will be responsible for the cost of having it repaired/possibly claiming on your high performance car insurance policy with these repairs either having to be done before you return the vehicle at the end of the rental period or completed once the vehicle has been returned to the rental company and then charged to you.
  • Ownership – you will never own the vehicle. So, as a limited number of supercars may actually go up in value due to them being so rare, you will not benefit financially if that were to happen.

Buying – For

  • Value – whilst most cars reduce in value as soon as they leave the forecourt, there are certain rare super cars that may actually increase in value meaning that when you come to sell the vehicle you may get more for it than you paid for it.
  • Self-esteem – let’s be honest, most car lovers would want to own the likes of an Aston Martin, Ferrari, Lamborghini or Porsche and to do so must make them feel very good about themselves.
  • Buying outright – if you are able to pay cash for the super car then you will not have to worry about monthly rental payments or finance repayments.

Buying – Against

  • Maintenance – you will be responsible for having the car serviced and for having any Aston Martinmechanical repairs undertaken. You may initially have a period of time/miles where your warranty covers you for such things but at some point, that will no doubt come to an end and you will have to meet the maintenance costs.
  • Adverse credit score- if you have a bad credit file then you may find it difficult to arrange finance towards buying the car or the lender may charge you a very high interest rate.
  • Sale of super car – if you wish to change the vehicle for another one then you will be responsible for selling your existing vehicle or putting your car in part-exchange and may not achieve the sale price you would have hoped for.

As you can see, there are pros and cons of renting and buying a super car. Ultimately, the decision is yours but we hope that we have provided you with food for thought.

Here at AIB Insurance, we have many years experience in arranging high performance car insurance. We have a bespoke, vetted panel of quality insurers who will provide a competitive quote to insure your super car without any obligation. So, if you are looking for outstanding Lamborghini car insurance, wish to buy Ferrari car insurance, need an Aston Martin insurance quote or want to buy Porsche insurance then why not give us a call on 02380 268 351 and we will be pleased to assist.

Check out some of the vehicles we’ve recently insured!

We’ve been arranging motor insurance for almost any type of vehicle for many years now.  From the modern super car through to the classic and vintage car owner including military vehicles, from the motorhome or kit-car enthusiast to those who modify or import cars we tailor insurance around our clients needs.

 

With a variety of the UK’s leading insurer partners our clients can arrange ‘agreed value’ cover, business use, salvage retention and discounts for garaging, security or limiting the mileage.

 

But can you name the 6 vehicles below we’ve recently insured? No cheating!

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Introducing Daley Grice

Daley Grice

Airsports Insurance Bureau (AIB), the niche and high net worth insurance broker, has appointed Daley Grice as Specialist Insurance Consultant within the personal lines and high net worth team.

Daley has over 5 years of experience in the insurance industry, and brings with him a wealth of knowledge and transferable skills to nurture new and existing clients. He joins from Business Choice Direct where he worked within the commercial sales department, focussing on courier and taxi business.  Prior to this Daley worked at both A-Plan Insurance and Ageas both locally in Eastleigh.

Daley David HayeThe division Daley joins within AIB specialise in meeting the insurance requirements of individuals and companies that may have high net worth, performance and exotic cars.  AIB can cover vehicles such as Ferrari, Porsche and McLaren as well as collections of classics and vintage vehicles and modified, kit and imported cars.  They have a broad selection of products for unusual and non-standard homes, such as thatched, flood risk and clients with higher sum insureds as well as being able to cover unoccupied, holiday homes and rentals.

Daley was born in Winchester and attended Toynbee School in Chandlers Ford.  He has 2 small children, still lives locally and his claim to fame is he once met and spent a morning training with boxing legend David Haye at his gym.

Councillor Murray Johnston

 

In other news AIB are delighted to announce experienced team member Murray Johnston recently won the local election whilst representing the Liberal Democrats and is now Councillor for Rowner and Holbrook within the Gosport Borough.

Welcome on board Daley and well done and congratulations Murray.

 

 

Simply Porsche Event – A Great Day Had By All!

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Porsche

Porsche

 

 

 

 

 

 

 

On Sunday 5th June, the fourth Simply Porsche event took place in Beaulieu at the historic National Motor Museum and it will come as no surprise to our many clients to read that AIB Insurance were in attendance once more. With so many Porsches on display covering many decades, a number of motoring stands to look at as well as your ticket also providing access to the museum if you arrived in your Porsche you are sure to have enjoyed a superb day out especially as the weather was so kind to us.

The huge selection of Porsches to admire included the likes of the 911, 914, 924 and 928 classics and more recently manufactured models such as the Cayman and Boxster. In fact, as the 924 had been around for 40 years and the Boxster for 20 years, these models were parked in a group. It was a tremendous opportunity for lovers of this elite sports car to meet and talk with like-minded individuals.

Hopefully, you will have taken the opportunity to participate in the People’s Choice Awards by casting your vote as to which you felt was the most popular Porsche attending the event. As well as being presented with a prize and trophy the owner of the winning vehicle proudly drove their Porsche at the front of a line of Porsches within the grounds.

Yet again, the ladies of AIB Insurance were well received by a number of our valued Porsche owner customers at our stand who have kindly favoured us with arranging their specialist motor insurance to cover their beloved sports cars for many years. We met several long- standing customers who have attended this event on more than one occasion but it was also lovely to meet some clients for the first time. We are sure that you will agree, to be able to “put a face to a name” is undoubtedly beneficial to everyone.

We look forward to meeting you at next year’s Simply Porsche event.

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Porsche

Porsche

 

 

 

 

 

 

 

Thousands Of Uninsured Cars Seized

FerrariOwners of motor vehicles are well aware that, unless declared SORN (Statutory Off Road Notification) and kept off the public highway, it is a legal requirement to insure their vehicles. Therefore you may be somewhat surprised to read that Churchill Car Insurance has found that over 27,000 cars have been seized by 23 of the police forces around the UK so far this year because they do not have any insurance on them. In the whole of 2014, there were over 70,000 cars seized.

The worst area is in London where the Metropolitan police force has had to seize almost 10,000 cars. West Yorkshire police force is in second place having seized over 4,000 cars so far in 2015.

You may have thought that it is motorists that own older vehicles that are more likely to not bother to insure their cars. Well, surprisingly, a significant number of cars that were taken off the road by the police due to not being insured were luxury cars. The list includes 10 Bentleys, 3 Lamborghinis, 2 Ferraris, 40 Porsches, and 1,767 BMWs.

LamborghiniSo far this year, 1,892 cars that have been seized have been sold at auction generating over £1 million. Interestingly, the most realized for one car in the last three years was £217,933. There have also been 6,736 cars scrapped raising further funds.

The penalty for someone not insuring their car is £300 plus they will get 6 points on their license. In addition, the cost of arranging car insurance will be more expensive for many years to come. Therefore, it does seem rather shortsighted of those people that are not bothering to insure their vehicles.

Here at AIB Insurance, we arrange car insurance on numerous makes and models including some of the luxury makes mentioned above. So, why not get in touch with us on 02380 268 351 and speak to an experienced member of our team to obtain a competitive quote.