i think you over estiamte the cost of your insuranc,

for my 1.6 16v fiesta, as a 17 year old and its my first car, i got a quote of 1200, ive since fited, 16" alloys, full rs turbo arch kit, turbo bonnet, escort rs turbo front breaks, mongoose exaust, mk4 dash set up, k and n

and it took it up to about 1400, and 50 quid of that was an admition fee