Student insurance
If you are a student and looking to buy a car, but don't want to be paying for it for the rest of your life, here is some advice on choosing a car that won't break the bank or lead to the most expensive insurance premiums.
Can you please explain leasing to me?
Car leasing is when you lease a vehicle from a specialist leasing company. This is almost like owning a car in that you are responsible for maintaining and insuring the vehicle, but you don't have to pay for the cost of a new car upfront. You will normally be expected to pay a deposit and then payments can be spread. Often leasing will cost more than buying your own car, particularly if you opt for an older model second hand car.
How can I pay less for my car insurance?
Shop around for online car insurance quotes when looking for insurance or if your existing policy is up for renewal. Changing your policy or the way you pay for your insurance could save you money over the policy term. Look out for deals being offered through your student union.
Consider buying a car that will be cheaper to insure. Small cars, that are light on fuel, have relatively cheap running costs and inexpensive spare parts will also mean lower premiums to you.
Modified cars cost more to insure so quell the boy or girl racer in your soul and stick to the factory standard models. Any modification to your car will increase your car insurance premium.
Consider increasing your voluntary excess as this will bring down your car insurance premium. Bear in mind that if you are in an accident this will end up costing you more.
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