Car costs

Buying your first car can be one of the most exciting stages of learning to drive, and is a significant achievement. However, the price of a car is only part of the amount of money you will spend on your car over the course of owning it. So what other costs will you need to factor in when you’re ready to own your own car? These are some of the things you’ll need to consider.

Car tax

If you own a car in the UK you’ll need to make sure you have the car tax for your vehicle. How much tax you pay depends on a number of different factors, including when the car was registered, plus either its engine size or CO2 emissions.

Car tax is broken down into bands, and you can use the governments tool to work out how much you’ll be paying here> https://www.gov.uk/calculate-vehicle-tax-rates 

Insurance

Insurance is an essential factor for any driver, as it protects you and other drivers in case anything goes wrong on the road. Unfortunately, the cost of insurance for young drivers can be eye-wateringly high, but its important to make sure you have a policy that covers you for any eventuality.

MOT

By law, any car over three years old must pass a yearly test to check they are roadworthy. This MOT test ensures all vehicles are safe to drive. There are over twenty thousand approved MOT centres in the UK, and the tests tend to only take between 45-60 minutes. However, if your car doesn’t pass its MOT test, the centre is, by law, not allowed to let you drive it away.

Fuel

Fuel is the most frequent of the upkeep costs on this list, as you’ll need to make sure you’re regularly topping up the tank in your new car. Fuel prices tend to rise year-on-year, so its always a good idea to check how fuel efficient your car is before you buy.

Servicing

To avoid any nasty surprises on the road, its essential that you need your car regularly looked over for any issues. While there is no one-size-fits-all approach to servicing, a good rule of thumb is to check in to a reputable garage every 12,000 miles to make sure everything is operating as it should.

 Owning and running a car can be pricey, but if you stay aware of the costs before the incur, you can enjoy your new-found freedom on the road with peace of mind!

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