The Guide To Buying Student Cars

Maybe you got a car for your 18^th birthday and it’s up and died on you mid-uni year and now you’re stuck for transport, maybe you didn’t get one from your folks to begin with; either way – if you find yourself vehicle-less in university, or really, your early 20’s no matter what you happen to be doing with yourself study-/employment-wise, using our handy guide to buying student cars that are appropriate and on a student budget that will stand you in good stead:

Treat the following words as law and you’ll cruise into your post-uni life (or your 30’s) debt-free and with your vehicle in good nick:

1. Thou Shalt Buy Used

Buying a new vehicle on a student budget is really not possible (unless you’re one of those students who won’t be paying for the car yourself, and that doesn’t count, or unless you have an incredibly high-paying job on the side). Buying a used car that’s just as good as a new car, however, is possible. By choosing a gently used second hand vehicle of 2 or 3 years old, you are avoiding carrying the burden of depreciation – most cars have depreciated by the bulk of their total depreciation value by the time they are 3 years old. This is a great way to get high quality affordable student cars which is much better than taking too much debt on a new car.

2. Thou Shalt Not Buy Privately

Buying a car privately through/from the owner can go one of two ways: spectacularly well (you get a good car for a good price), or spectacularly poorly (you get a pile of scrap metal for what you thought was a good price, or you get lured to a back alley and mugged if you’re not so lucky). By buying your second hand vehicle through a dealership, such as WP Motors, you know things are on the up and up, and you’ll have more protection in terms of lemon laws and options to purchase extended warranties etc.

3. Thou Shalt Be Money-Smart

In the long run, if you’re financing a car, you’re paying more money. If you can at all afford to buy the car cash, pay cash. If not, put down as big a deposit as you can manage to avoid paying more interest on the outstanding monthly premiums, and thus more the car overall.

Do you have any tips for students or young working professionals who are looking to avoid going into debt in order to purchase a vehicle?

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