If you’ve just passed your driving test, freedom is at your fingertips. But can you actually afford to run a car? Running a car can be an expensive business, all for reasons you might never have thought about.
Everyone knows that young driver car insurance can be expensive, so no doubt you’re ready for that. Telematics insurance might be able help you there, but there are a few other things that you need to bear in mind.
MOT and road tax
Not only will you need car insurance to get on the road, but you’ll also need to pay road tax and have a valid MOT certificate too. MOTs become a yearly expense once your car is three years old.
The price of road tax can vary depending on your car, with some lower-emissions cars costing less. Always make sure to check the cost of road tax before you buy a car. Road tax is often higher for diesel cars, which can make getting on the road more expensive if you decide that a diesel car is the best option for you.
Getting your car through its MOT can be pricey if it fails for any reason. After your car has failed, you will need to get any issues fixed before putting your car in for a retest. Make sure that you can afford the cost of an MOT before buying a car, especially if it’s got only a few months left on its MOT certificate.
Fuel
Fuel prices have also been on the rise. Petrol prices have increased by 3.3p, and diesel by 3.4p. Diesel is usually more expensive, but diesel cars are also more economical on longer journeys. So, if you only plan on doing short trips regularly, buying a petrol car may suit you. Also, fuel prices differ everywhere you go - so shop around in your local area.
Tyres
Tyre treads have to be above the legal level, so you should check them regularly and replace them when they drop below 1.6mm. If you keep on top of them and replace tyres as and when they need to be replaced, this will prevent a big blow to your pocket if they all drop below the limit at once.
Congestion charges
If you live or work in certain cities, you will also have to pay congestion charges. If your car doesn’t meet the Euro 4 emissions standard, you’ll have to pay an additional emissions surcharge too! So, if you frequently travel into the city, a car might not be the best option for you!
You also have to pay a toll charge if you pass through the Dartford Crossing in Kent, so bear that in mind if you travel that way frequently.
Servicing and breakdown cover
Don’t forget that you will also have to pay for your car to be serviced if you don’t want it to lose its value or wear more than necessary. If your car breaks down, and you don’t have breakdown cover in place, you will have to pay an emergency call out fee. You may also be required to pay a set charge per mile your car is towed. So, invest in breakdown cover, or make sure you have some money put aside just in case.
Getting your first car is exciting, but make sure that you’re also putting aside some pennies to cover the cost of anything that could go wrong.
Correct at the time of publication. Information in this article has been gathered from various sources, therefore WiseDriving cannot be held responsible for any view or opinion expressed herein.
