Buying and running your
first car

Buying your first car is an exciting time ,  so here is a helpful checklist to make sure you don’t miss anything ...   

The Car

Unless you are Lewis Hamilton or your parents are very well off you are unlikely to be in a position to actually buy a brand new car. Therefore you may have to buy a car that is functional, second hand and safe, rather than brand new. This is a good thing as your insurance will probably be sky high,  so you'll want to look out for a bargain.

Hatchbacks are the most popular choices for first time buyers, with the Toyota Yaris, Ford Fiesta or Ka, Peugeot 206 or Vauxhall Corsa being the most popular models. Take a look at a publication like Auto Trader, or head to websites such Ebay or Fish4 for used cars. Go and see the car before hand and take it for a proper test drive. Did you know that the AA will come out and check a car for you for a minimum cost of £122 if you want an expert second opinion?

Servicing

If you buy a car privately, then you must make sure that it's serviced properly before you start driving it around. This includes making sure you have a valid MOT certificate for the vehicle, which can be checked online providing you have the paper certificate or a registration logbook. Servicing could be expensive if you buy a car in poor condition, but an MOT test for a car of up to 8 passenger seats costs £50.35.

Insurance

If you're under 25 and you've only just passed your test, you will find that most insurance quotes will be high - and certainly over £1000 if you're taking out a fully comprehensive policy. In most cases your insurance can cost more for a year than the car!!

Just like car tax, it is a legal requirement to have car insurance, so there's no avoiding it. The easiest way of shopping for car insurance is to do it online. There are plenty of sites out there that give extensive lists of insurance quotes if you enter your details correctly.

Car Tax

You'll need to get tax as well as all the other expenses, and for a year it's a standard charge of £115 for a year or £63.25 for 6 months on cars of under 1549cc engine size. You can apply online, or go to a local Post Office with your insurance details and get one immediately.

How do I pay for all of this?  

Car Costs

1. Car - £800+
2. Insurance - £850+
3. MOT - £50.35
4. Car Tax - £115
5. Petrol £20 per month

A lot of people get help from their parents when buying their first car. However, if you're not so lucky, you'll have to think about other options. A personal loan is often the preferred way of purchasing a first car, rather than using a credit card. Your car budget should reasonably be £800 - £1800 when all the expenses are considered, and if you don't get a bargain or you want to get a better deal then you should set your budget considerably higher - if you can afford it that is.

Remember, you will need to have some spare cash each month to pay for petrol to ensure you can actually use the car.

Don't forget, to consider breakdown cover especially if you have an older car that may not make it from A to B and back!!!

The most important thing is to have fun, enjoy your new found freedom and drive carefully.