First time car owners tend to forget a lot of the things that are involved in vehicle ownership; insurance, tax, fuel costs, storage / parking costs, maintenance and so on. There are a lot of things that need to be done throughout the life of your vehicle, regardless of whether you have chosen to purchase the biggest, most expensive four-by-four you could find or whether you bought a cheap second-hand motorcycle.
Start with the purchase of your vehicle; how much is that going to cost you? There are very few first time buyers who can actually afford to just pay for their vehicle. The chances are that you're going to have to take out a small loan to be able to buy the vehicle, shop around a bit first. There are plenty of options available to you but try your bank first. Arrange a meeting and talk about how much you want to borrow and why; banks are often able to offer their best deals to existing customers.
If you're a student with a part time job you may find that this could be the perfect use for your student loans if you have managed to save them up. On average a loan of £10,000 paid back over 5 years will cost you around £200 a month; though this can be subject to your age and income. Getting a loan without help from your parents or a guardian who is willing to act as a co-signer can be hard, but it is a little easier if you have a reliable job with an income of £15,000 each year or more.
Once you have the vehicle you need to insure it. Again this is something that is going to cost you on a monthly basis and the price will be subject to a range of factors including your age, location, gender, income, and so on and so forth. The cost of insurance will also depend greatly on the vehicle you select; remember a cheaper car is cheaper to keep in most cases, so if you don't have a lot to spend don't splash out on a big, expensive car as this will generally cost more to insure and sometimes even cost more to tax and fuel.
Take your time shopping around for a good insurance deal, but make sure you read the terms and conditions carefully and check company reviews; you don't want to find out when you need your insurance that you've been paying for it every month but they have no intention of paying out.
Tax is important and without it you won't be allowed to drive, even with a car, licence and insurance. Taxing your car is, thankfully, not too expensive and doesn't need to be done too often; smaller and more energy efficient cars are also cheaper for tax so you may find you lean toward these options, particularly as they make such good vehicles for young and first time vehicle owners. Keep track of when your tax runs out and avoid getting caught out, renew the tax early if you have to in order to ensure that it is done on time.
It is considered a criminal offence to drive without a valid tax disc, and a lesser but still criminal offence to fail to display your tax disc. If you don't properly tax your car it may cause your insurance to become invalid; you'll still be paying for insurance of course but if anything happens to your vehicle the insurance company probably won't be obligated to pay out or do anything about it. If this is the case it should be specified in the terms and conditions of your insurance policy, so be sure to read them carefully.
There is no point at all in having a vehicle if you can't afford to run it. Don't bother buying a car unless you know you can afford to fill the tank every week; you might not need to but there are other costs involved in running a car. The vehicle will need to pass an MOT every now and then, you'll need to put cleaner fluid in for the window wipers, water in for the radiator, oil for the engine and deal with any general maintenance tasks that arise such as changing tires, changing brake pads, fixing cracks in the windows and so on. There is a lot that has to be dealt with when it comes to a vehicle and there will be times when something completely unexpected happens so you should be sure that you're prepared for those occasions.
Finally, where are you going to keep your vehicle? Does your property have on street parking? A garage or drive? Who do you need to contact to arrange dedicated parking? In urban areas this is much more of a problem than in rural areas and in many cases you will have to contact your local council in order to get a parking permit for your street or area. You may even find that you need to rent or purchase a parking place or garage where you can keep your car. In order to ensure that the vehicle is safe from damage and or theft it is important that you have a place for it where you can find and access it easily.
If buying a second hand vehicle be sure to run checks to ensure that the vehicle has never been written off or stolen.
If looking for a quick sale of an old vehicle one of the most effective options is a scrap my car service.
Article Source: http://EzineArticles.com/?expert=Kate_B_Critchlow
Article Source: http://EzineArticles.com/8542547
Start with the purchase of your vehicle; how much is that going to cost you? There are very few first time buyers who can actually afford to just pay for their vehicle. The chances are that you're going to have to take out a small loan to be able to buy the vehicle, shop around a bit first. There are plenty of options available to you but try your bank first. Arrange a meeting and talk about how much you want to borrow and why; banks are often able to offer their best deals to existing customers.
If you're a student with a part time job you may find that this could be the perfect use for your student loans if you have managed to save them up. On average a loan of £10,000 paid back over 5 years will cost you around £200 a month; though this can be subject to your age and income. Getting a loan without help from your parents or a guardian who is willing to act as a co-signer can be hard, but it is a little easier if you have a reliable job with an income of £15,000 each year or more.
Once you have the vehicle you need to insure it. Again this is something that is going to cost you on a monthly basis and the price will be subject to a range of factors including your age, location, gender, income, and so on and so forth. The cost of insurance will also depend greatly on the vehicle you select; remember a cheaper car is cheaper to keep in most cases, so if you don't have a lot to spend don't splash out on a big, expensive car as this will generally cost more to insure and sometimes even cost more to tax and fuel.
Take your time shopping around for a good insurance deal, but make sure you read the terms and conditions carefully and check company reviews; you don't want to find out when you need your insurance that you've been paying for it every month but they have no intention of paying out.
Tax is important and without it you won't be allowed to drive, even with a car, licence and insurance. Taxing your car is, thankfully, not too expensive and doesn't need to be done too often; smaller and more energy efficient cars are also cheaper for tax so you may find you lean toward these options, particularly as they make such good vehicles for young and first time vehicle owners. Keep track of when your tax runs out and avoid getting caught out, renew the tax early if you have to in order to ensure that it is done on time.
It is considered a criminal offence to drive without a valid tax disc, and a lesser but still criminal offence to fail to display your tax disc. If you don't properly tax your car it may cause your insurance to become invalid; you'll still be paying for insurance of course but if anything happens to your vehicle the insurance company probably won't be obligated to pay out or do anything about it. If this is the case it should be specified in the terms and conditions of your insurance policy, so be sure to read them carefully.
There is no point at all in having a vehicle if you can't afford to run it. Don't bother buying a car unless you know you can afford to fill the tank every week; you might not need to but there are other costs involved in running a car. The vehicle will need to pass an MOT every now and then, you'll need to put cleaner fluid in for the window wipers, water in for the radiator, oil for the engine and deal with any general maintenance tasks that arise such as changing tires, changing brake pads, fixing cracks in the windows and so on. There is a lot that has to be dealt with when it comes to a vehicle and there will be times when something completely unexpected happens so you should be sure that you're prepared for those occasions.
Finally, where are you going to keep your vehicle? Does your property have on street parking? A garage or drive? Who do you need to contact to arrange dedicated parking? In urban areas this is much more of a problem than in rural areas and in many cases you will have to contact your local council in order to get a parking permit for your street or area. You may even find that you need to rent or purchase a parking place or garage where you can keep your car. In order to ensure that the vehicle is safe from damage and or theft it is important that you have a place for it where you can find and access it easily.
If buying a second hand vehicle be sure to run checks to ensure that the vehicle has never been written off or stolen.
If looking for a quick sale of an old vehicle one of the most effective options is a scrap my car service.
Article Source: http://EzineArticles.com/?expert=Kate_B_Critchlow
Article Source: http://EzineArticles.com/8542547
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