A Porsche is cheaper for you to insure than a Ford Fiesta! But why?

Read Time: 3 minutes

👋 Hey guys - Noah here,

Ever wondered why your "starter car" insurance costs seem so crazy these days?

I've just discovered something that will BLOW YOUR MIND about car insurance for young drivers...

The Porsche Paradox

Right now, a 17-year-old can get CHEAPER insurance on a Porsche Boxster than on a Ford Fiesta!

I know what you're thinking... "Noah's lost it!" 

But stick with me, because this is actually true, and understanding why could save you serious money.

Let's break down these cars:

Porsche Boxster:

• Engine 3x larger than a Fiesta

• Could smoke most cars on the road

• Typically costs £20,000+

Ford Fiesta:

• Smaller engine

• Pre-owned models usually cost around £5k.

• It’s Britain's most popular first car

So why is the Porsche Cheaper to Insure?

Insurance companies don't just look at the car's power or value. They look at WHO typically drives these cars and their accident history.

Think about it:

• Loads of young drivers buy Fiestas

• More young Fiesta drivers = more accidents

• More accidents = higher risk to insurers

• Higher risk = sky high premiums

But with the Porsche Boxster:

• Hardly any young drivers own one

• Fewer accidents involving young drivers

• Lower perceived risk to insurers

Result: Surprisingly lower premiums!

What This Means for You

Look, I know most of us can't afford a Porsche (yet! 😉). But this shows us something crucial:

The most popular choice isn't always the cheapest. 

Try looking at less popular first cars to get a cheaper insurance quote.

Less popular cars don’t need to cost more either! The Suzuki Celerio 1.0, Daewoo Matiz, Hyundai Getz or Smart forfour are all not popular and cheap.

Need Help Covering Those Insurance Costs?

Car insurance is always going to be expensive, and saving to pay for those prices can seem impossible.

I've been getting TONS of messages from you guys asking how to afford these crazy insurance prices.

So, I decided to put together a detailed guide on my eBay reselling store which helped me afford my first car's insurance → https://stan.store/noahxboa/p/ebay 

Let me know if you've found any other surprising insurance hacks - I'd love to hear them!

Chat soon,

Noah

P.S. If you found this useful, forward it to a mate who's looking to get their first car. They'll thank you later! 

See you next time!

Disclaimer: None of the above is financial advice. This newsletter is strictly education and should not be taken as investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and always do your own research.