Affording a car at 17 years old - How to do it?
So I live in the UK and passed my test just this month. I'm desperate to get a car but don't know if it is possible. My Mum does not drive so I can't just put insurance on a parents car before you mention it.
My Dad wants to buy me a car for about £750 and I'm just worried at that price it will break down and the insurance quote will be more than the actual car. I know that no matter what I have to spend a heap on insurance being 17. I make roughly £175 a month but am thinking of asking for more hours at work. I've seen that a lot of cars come with good deals on insurance such as Corsa you only pay £99 or a Fiesta where Ford pays £3500 on insurance but this is only on new cars.
So my question is what is the best thing to do? Do I buy a new car and pay a heap for free insurance or go with my Dad's advice and buy a cheap car and just hope for the best?
No, you absolutely do not buy a new car at your age (and can't enter into a legal finance contract anyway).
Quit guessing. Contact insurance companies and get an ACTUAL QUOTE on what it will cost you.
You do not earn enough to own a car… Your insurance will be close to £3.000 a year. If your lucky… Then there's the road tax… Mot… Service.maintenance… Fuel.etc… Every penny you earn will be needed just for car… They are just not worth it
You just can't afford to run a car, if you only earn £175 a month - it's as simple as that.
If you buy a basic, small car for £750, it will cost you around £6,000 - £7,000 a year to run (insurance, fuel, maintenance, wear and tear, etc.). That's about £500 - £585 a month. Can you see the problem?
Oh, and the insurance deals you've seen are for drivers aged 18 (and often 21) or over.
You have to have the insurance in your name or at least be declared as the primary driver as the it is called fronting and is a fraud.
At £750 it should be possible to get a reliable car.
Your income is the issue.
Just running a car is not cheap. Servicing new tyres, fuel and tax as well as insurance.
You won't qualify for those cheap insurance deals. You'll need anything from 3,000 to 10,000 to insure depending where you live. And that's on a group one or two car. There's no cheap fix. Don't go on a parents policy. That's fronting. Insurance fraud. Then your cover will be really expensive.
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