I'm thinking of buying a car. Does it sound wise?

I am going into second year student currently taking driving lessons. I've starting saving for a car and insurance at the same time but I don't yet have a job.
I was wondering if it would be smart for me to buy a cheap car under £1000 once I pass and save up enough to cover it, road tax, insurance and other extras, even though my only income at the moment is Student Finance? Also, after that does anyone have a rough estimate on how much per year it would cost to maintain a small car like a Nissan Micra or something?
Thanks.

Reply 1

Mr.wong

9

New driver is really expensive. I have a black box and have my parent name on my insurance and it still cost about one grand to insure. MOT £30 - 40, road tax around £100 - 200 and road side assistant £70-80.

Edit: You still need to put fuel in it, depending where you are going and the car that you are getting. It cost me £30 or so per month.

(edited 8 years ago)

Reply 2

domonict

17

Original post by Indeterminate

Obviously, a car is a great investment for anyone with any budget. ! :smile:

Huh?

I would be more worried that I could't park it.
Many university towns are very hot on student parking and don't issue on street residents permits to students. Also many unis do not permit student parking on campus, and even ban ( dunno how!) parking St,ident cars within one mile of the campus.

A student with a car has servicing and insurance to cope with before going a mile.
They also become the taxi service for everybody else, it often costs them to give free lifts.

Reply 3

jooswolde

OP

1

Original post by Indeterminate

Obviously, a car is a great investment for anyone with any budget. It gives you complete freedom and helps you live life on your own terms.

In your case, a Micra is fine but your insurance will be through the roof when you pass. Since the running costs for a Micra are as low as they come, you'll just need to take care of the insurance. However, you should only get it once you're sure that you can afford all the costs! :smile:

Thanks for your help! I may start job hunting just in case by some miracle I pass soon! :smile:

Reply 4

jooswolde

OP

1

Original post by Mr.wong

New driver is really expensive. I have a black box and have my parent name on my insurance and it still cost about one grand to insure. MOT £30 - 40, road tax around £100 - 200 and road side assistant £70-80.

Edit: You still need to put fuel in it, depending where you are going and the car that you are getting. It cost me £30 or so per month.

Is road side assistance essential or can I get away without it? And yeah I have to get my own insurance as my mum won't do joint with me. Never did I think I would need to use Compare the Meerkat/Market until I saw how high insurance was XD

Reply 5

Mr.wong

9

Original post by jooswolde

Is road side assistance essential or can I get away without it? And yeah I have to get my own insurance as my mum won't do joint with me. Never did I think I would need to use Compare the Meerkat/Market until I saw how high insurance was XD

I got road side assistant because I don't want to be stuck on the motorway or on the side of the road without anyone to help. If you know anyone that can fix cars and is close to you, you can get away with it. But if you call up AA or RAC they charge you quite a bit of money to tow your car to a garage.

Adding your parents' name to it doesn't mean they have to drive the car, it means that it will bring the insurance down a bit.

(edited 8 years ago)

Reply 6

jooswolde

OP

1

Original post by Mr.wong

I got road side assistant because I don't want to be stuck on the motorway or on the side of the road without anyone to help. If you know anyone that can fix cars and is close to you, you can get away with it. But if you call up AA or RAC they charge you quite a bit of money to tow your car to a garage.

Adding your parents' name to it doesn't mean they have to drive the car, it means that it will bring the insurance down a bit.

Ahh ok may have to look into that thanks :smile:

I'm thinking of buying a car. Does it sound wise?

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