Oct 012018
 

New car checklistFor many young people, owning a car is a rite of passage. But, with so much choice available and with many young people on a tight budget, selecting the right student car can be tricky.

Warranty Direct has put together some helpful tips to help student motorists make the right decision, from buying your first car to beyond.

Where to start

When looking at potential vehicles, you can be tempted to go to the first car that catches your eye. However, it’s important to keep your budget in mind when choosing what’s right for you.

Firstly, you need to decide whether to buy a new or used car. Although initially more expensive, newer cars are normally more advanced in terms of safety, technology and fuel efficiency. This could save you money in the long-term.

On the other hand, a new car can lose around 40% of its value in the first year, so you may be left out of pocket when you go to sell it later.

Statistics also show around one-quarter of young drivers are involved in a crash within two years of passing their test. So with this in mind, it might be more cost-effective not to purchase a brand-spanking new vehicle until you have a little more experience on the roads.

Don’t get caught out with insurance

For the majority of students, expensive car insurance is far from ideal. Drivers aged between 17-24 can expect to pay over £1100 for their insurance policy.

Limited driving experience and a greater likelihood of being in an accident account for this high rate. However, there are ways for students to keep their insurance costs down.

For example, adding a more experienced named driver on a student’s insurance policy can shave an impressive 13% off their insurance premiums.

Younger drivers can make further financial savings by opting for a black box insurance policy. This is where the insurer fits a telematic tracker – which records speed, braking and cornering behaviour – to your vehicle.

 In fact, according to recent figures, 60% of the cheapest black box deals are for under-25s, compared with 50% two years ago.

Factor in reliability

It’s important students know what they need from a vehicle, not just what they want. Factors such as safety, cost and reliability need to be considered; particularly if you’re facing a lengthy commute from home to your new student accommodation.

Look out for vehicles with low repair and maintenance costs and features such as light steering and user-friendly controls.

Using tools such as our Reliability Index to see which vehicles are the most reliable could help you avoid expensive maintenance issues further down the line.

If you’re willing to look beyond flashy alternatives, the trusty Ford Fiesta is a good bet for students on a tight budget. The Fiesta scores highly in the reliability stakes and suits the needs of most young motorists.

Fuel for thought

For cash-strapped young drivers, one of the major drawbacks of owning a car is the cost of keeping a vehicle on the road.

With fuel costs rising, it’s worth looking out for the most fuel-efficient models on the market.

It’s also important to account for vehicle tax, MOT tests and the general cost of upkeep for your new vehicle. On average, it costs around £472 to maintain a used car over the course of a year.

It might be worth considering Just Add Fuel options which combine finance, breakdown, servicing and tax costs into a single monthly installment if your heart’s set on a brand new vehicle.

Owning a car can give you your first taste of ‘grown-up’ responsibility, so it’s important to think wisely if you want to experience the joy of the open road on a student budget.

Oct 052015
 

It’s the beginning of another week here at Warranty Direct and, as per Monday tradition, we thought we’d share a roundup of the latest motor news we’ve noticed gaining noticable traction on our social feeds.

Peugeot 107 crowned most reliable ‘student car’ – BT News

 

 

 

 

 

Warranty Direct revealed the most reliable “student cars” last week, and the winner is was a surprise. The 2005-2014 Peugeot 107 was found to be the most reliable car for the university student lifestyle of working, sleeping, drinking or whatever it is they get up. Other cars featuring in the list include the 2008-2015 Honda Jazz and the 2002-20120 Nissan Micra.

Car Smoking Ban Comes Into Force – BBC News

 

 

 

 

 

New driving laws came in effect on the 1st of October this month with the ruling banning smoking in vehicles containing passengers under the age of 18. This new rule affects drivers in England and Wales with Scotland possibly to follow suit soon. If a driver is caught breaking this new rule, they will receive a penalty fine of £50. The BBC News article looks at the pros and cons of the new rule as well as how much force will be put in by authorities.

New Car Buying Rights – The Telegraph

 

 

 

 

 

 

Also coming into effect from the 1st of October was the brand new Consumer Rights Act. Described as the biggest overhaul of consumer law for a generation, it brings in some new legislation especially in the realm of buying new cars. New car owners can reject a faulty car within thirty days of delivery and, even after that period, claim a full refund if the first car repair doesn’t fix the vehicle’s problems. The Telegraph article breaks down the important information car buyers need to be aware of.

Don’t forget we share more motoring news through our social media feeds so follow us on Facebook, Twitter and Google+ to be up to date with the motoring world as well as the latest news from Warranty Direct.

Have a great week!