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Insurance of an “Englishman” in Poland

Insurance of an "Englishman" in Poland

Insurance of an “Englishman” in Poland Cars from the UK – Regulations, Documents, Finances 2023-04-06 Although often the reason for importing a car from Great Britain to Poland is the desire to obtain parts, this is not a rule. Cars with the steering wheel on the right side may have their avid supporters who like to drive them also on continental roads, regardless of any complications and inconveniences. Like any vehicle, such a car requires insurance and registration to be allowed to drive. What does “Englishman’s” insurance look like in practice and what costs can be expected? How to insure the “Englishman”? How much does UK car insurance cost? Why is civil liability insurance more expensive?   You will find all the answers below. We invite you to read! You may also be interested in: ABI categories – what is it? What is SORN and when do you need it? What is V5C and what does it look like? How To Insure The “Englishman”? The condition for obtaining a Polish registration number for a car imported from the British Isles is the introduction of several modifications to the vehicle’s construction (read also: Registration of a car from England in Poland). Exactly the same changes are expected by insurance companies before they agree to conclude an OC or AC policy. Modifications do not interfere with the construction of the car and in the case of popular models they do not cost more than PLN 2,000. More will have to be invested in modifications if they concern more expensive, new or niche cars.  What modifications are we talking about: headlight adjustment replacement of cartridges in the mirrors relocation of the rear fog lamp to the left side speedometer replacement   As you can see, the information about the need to move the steering wheel from the right to the left side is missing from the above list – because it has not been done since 2015. After completing the above works, no company will refuse to insure your “Englishman”. How much does “Englishman” insurance cost in Poland? Concluding an insurance policy for a car from England looks exactly the same as for a car bought in Poland. The most advantageous offer can be found at the intermediary’s office, via the hotline or by contacting selected companies directly. There are even legends about the costs of such insurance – some sources say that the policy can be 300% more expensive, others that not necessarily. Where is the truth? It is difficult to clearly determine how much the policy costs and how much more expensive it is between the imported and native car, because many variables are taken into account here. Technical data of the vehicle, place of registration, experience and age of the driver – these are selected factors that affect the cost of insurance. Some examples of offers are presented below: Toyota Yaris – Diesel – 1.3 engine: standard OC PLN 400 / OC “Englishman” 713 PLN. Audi A3 – Petrol – 2.0 engine: standard liability insurance PLN 469 / civil liability insurance PLN 821 Honda Civic – Petrol – 1.4 engine: standard OC PLN 410 / OC “Englishman” PLN 687.   The calculations provided come from the Mubi comparison website from January 2022. The hypothetical driver here is a man aged 37, who has had a driving license for 17 years and has not reported any damage in the past year. What are the differences in the rates offered, depending on the vehicle registration address? Cheapest offers: Offers in Poznań: from PLN 383 Offers in Warsaw: from PLN 391 Offers in Lublin: PLN 390 Offers in Starogard Gdański: PLN 395 Why is civil liability insurance more expensive? From the point of view of the insurer, the design of the car imported from Great Britain affects the level of safety of the driver and passengers. If the buyer does not decide to switch the steering wheel from right to left, then many maneuvers will be difficult. The first one that will probably come to your mind is overtaking – which is also risky for continental cars. Nevertheless, the costs of the policy are proportionate, as always – cheaper, older, smaller cars can still be insured at a relatively low cost. Looking for a company you can trust? If you want to talk about cooperation – contact us! We guarantee you the highest level of service and professional advice. contact us

How to take a car in instalments in the UK?

How to take a car in instalments in the UK?

How to take a car in instalments in the UK? Finances, Guide 2023-04-06 Buying a car in installments is a convenient solution not only in Poland. Drivers in Great Britain also willingly use this option when looking for the best installment loan offers. While we all know our home market well and know where to go for such a loan, living in the UK as a foreigner can feel a bit lost. Can you buy a used car with a loan here? How to take a car in installments in the UK? In this article you will learn: Car loans in Poland. What is worth knowing about car loans in the UK? Creditworthiness in the UK – Credit Score. Where to take a loan to buy a car in the UK?   You may be interested in: How do you drive an “Englishman” in Poland? What is V5C? ABI categories – what is it? Car loan in Poland If you want to buy a vehicle with an instalment payment, we usually go to several banks or agencies. We initially ask about the current offer, the interest rate on the loan, the number of instalments and the possibility of early repayment. Alternatively, if you buy a used car in a second-hand shop or from a car dealership, we can ask about the possibility of crediting here. This solution is so popular that there is no longer even a need to appear in the seller’s office in person. We will get to know offers for credit or leasing online, using websites specialised in this field – for example here . If the buyer can demonstrate an impeccable credit history, he chooses the most advantageous offer and concludes the contract. Is it similar in the UK? Car loan in the UK – what is worth knowing APR – Annual Percentage Rate – annual interest rate. Debt-to-income – the ratio of the applicant’s total income to his fixed monthly expenses. Each lender has its own guidelines as to the maximum percentage of the loan instalment in the borrower’s liabilities. Some banks recognise that the instalment cannot exceed 40% of income, others that 30%. Early Repayment Charge – a fee charged by the bank / company in the event of early repayment of the loan than provided for in the concluded contract. Set Up Free – usually a fixed fee that the bank / company imposes right after granting the borrower a loan. Secured Personal Loan – an element of the concluded contract is a declared object (car, real estate), which constitutes a pledge in the event of the loan being unable to be repaid. This, of course, is not a collateral that the lender uses because of, for example, late repayment. The pledge will be seized only when the borrower declares that he is no longer insolvent. The advantage of such a clause is the bank’s greater flexibility in granting the loan amount or lowering the standard interest rate. Unsecured Personal Loan – similarly to the point above, it is a loan without collateral in the form of a pledge. It usually results in a higher interest rate and/or less freedom to adjust the repayment period of the loan. PPI – Payment Protection Insurance – another form of security, this time with greater benefit for the consumer. In this case, the bank proposes to pay a certain amount once or as part of an instalment, as insurance against loss of job or part of income.  PCP – Personal Contract Purchase – a type of contract that is closest to the known leasing. The buyer makes a deposit right after concluding the loan agreement, then pays monthly instalments in the agreed amount, and at the end has the option to pay the final amount (balloon payment) and become the owner of the vehicle. If the borrower resigns from paying the balloon payment, then the contract ends and the car is returned to the dealer. HP – Hire Purchase – instalment loan spread over monthly payments, but the deposit must be settled in the agreed amount first. It is worth noting that in the case of the last two offers (PCP and HP), the borrower becomes the owner of the car only after making the last instalment or final repayment – i.e. balloon payment. Buying a car and creditworthiness As in Poland, British banks and credit companies use the credit score before agreeing to conclude a contract. Credit Score is a parameter that expresses the creditworthiness of the applicant on a point scale. Importantly, each bank or other entity you ask for an assessment of your creditworthiness develops such a scale on its own. An example rating based on the Historia Creditowa website: 961 – 999 points – the highest level, showing an excellent credit history. You can go to the most demanding facilities without fear, you can also count on a wider range of offers presented to you.  881 – 960 points – good ability, sufficient to apply for loans also in more demanding banks. In this case, however, you will receive fewer offers and they will not always be the best offers that the facility has prepared for its clients. 721 – 880 points – you will receive a loan, but the terms will certainly not be very favorable. You won’t be able to afford every car model. 561 – 720 points – ability at a low level, insufficient to obtain a positive opinion in most banks and branches. If you manage to win the favor of the lender, then you can be sure that the interest rate will be high, and the contract may be subject to additional security. 0 – 560 points – a very low ceiling, which indicates that you have most likely struggled with debt repayment in the past. Perhaps there are still liabilities on your account after the due date – loan instalments, bills. In this case, you will not receive another loan for sure. You will even have trouble concluding a subscription contract for the telephone, internet or even car insurance that you plan to buy. A car in instalments