AlexaJones
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I'm getting a fiat 500 when I go to uni for commuting and shopping and I'm wondering how much will it cost yearly after the initial costs?
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JAM11E
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(Original post by AlexaJones)
I'm getting a fiat 500 when I go to uni for commuting and shopping and I'm wondering how much will it cost yearly after the initial costs?
Hey,

Initial costs being just the price of buying the car?

Yearly you are looking at; VED (Tax), Insurance, MOT & Fuel Costs, Tyres. Don't forget to plan ahead in case something goes wrong and you need to have it repaied.
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AlexaJones
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(Original post by JAM11E)
Hey,

Initial costs being just the price of buying the car?

Yearly you are looking at; VED (Tax), Insurance, MOT & Fuel Costs, Tyres. Don't forget to plan ahead in case something goes wrong and you need to have it repaired.
Initial costs as in buying the car and any work it needs done as I'll be buying second hand.

Is there like any way I could estimate the cost of a car yearly?
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JAM11E
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(Original post by AlexaJones)
Initial costs as in buying the car and any work it needs done as I'll be buying second hand.

Is there like any way I could estimate the cost of a car yearly?
Of course there is, you mentioned that you will be getting a Fiat 500.

- Get an insurance quote from the comparison websites
- Find out how much the yearly VED (Tax) is
- Factor in your yearly MOT cost, the legal maximum cost of an MOT is just over £54.
- Work out estimated fuel costs by working out your estimated mileage (journeyprice.co.uk is a good tool for this)
- Get a quote for breakdown cover (this is a must buy)

You can't estimate repair costs as it can be anything. Good luck.
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AlexaJones
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(Original post by JAM11E)
Of course there is, you mentioned that you will be getting a Fiat 500.

- Get an insurance quote from the comparison websites
- Find out how much the yearly VED (Tax) is
- Factor in your yearly MOT cost, the legal maximum cost of an MOT is just over £54.
- Work out estimated fuel costs by working out your estimated mileage (journeyprice.co.uk is a good tool for this)
- Get a quote for breakdown cover (this is a must buy)

You can't estimate repair costs as it can be anything. Good luck.
How much would you recommend setting to the side incase of repair costs?


I will do those things tomorrow but do you think it would be possible to do all that for under £2000?
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RogerOxon
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(Original post by AlexaJones)
Initial costs as in buying the car and any work it needs done as I'll be buying second hand.

Is there like any way I could estimate the cost of a car yearly?
Not accurately, as you can't know if it will be reliable or not. You can calculate insurance, petrol, road tax, parking, maintenance, etc, but repairs are much more difficult to estimate. Secondhand cars are always a risk, more so if you don't have a proper inspection (do not skip this, including when buying from a dealer). They can be reliable, but they can also cost you a lot.

Cars are a constant drain on your finances, so I'd avoid buying one for as long as you can.

What's the parking situation at both ends of your commute?
How far are you going to be commuting?
Have you had insurance quotes?
How did you decide that you want a Fiat 500?
Have you researched common issues, and the cost to fix them?
Have you looked at crash safety ratings?
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RogerOxon
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(Original post by AlexaJones)
I will do those things tomorrow but do you think it would be possible to do all that for under £2000?
That depends on a to of other things, that you haven't specified, e.g. how many miles you will be driving, insurance and parking costs. Assuming that you're young, I doubt it though.
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alex282
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(Original post by AlexaJones)
I'm getting a fiat 500 when I go to uni for commuting and shopping and I'm wondering how much will it cost yearly after the initial costs?
In my opinion the most important money-saving decision when buying a car is to pay for it upfront instead of financing it monthly otherwise this will cripple your finances for years and give you poor value in the long-term. Before you buy the car get insurance quotes otherwise you never know, your insurance could be over £2k alone. For a Fiat 500 the tax, running costs, repairs and consumables will be less than other cars but all of this can still add up to a couple of grand a year for any car depending on how many miles you do
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IWMTom
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(Original post by AlexaJones)
do you think it would be possible to do all that for under £2000?
Lolno
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dangger
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Depending on your area insurance will be between £900-2000, Lets say £1200


Tax for a fiat 500 is £0-£150 depending on which model you buy (check this) lets say its £70
MOT £55
Fuel £10-20 Per week (Shouldnt be much in a fiat 500) Lets say £15 x 52 = £780 a year
Break down cover - £43 (Startrescue)

The total would be £2148 assuming that you dont have any issues with the car but obviously this heavily depends on your insurance and tax
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