Budget to buy a used car

How much do you need to buy and run a new or used car monthly? Find out how to calculate the cost of buying and keeping your car on the road

Do you know how to budget to buy a used car? Find out how to calculate the cost of buying and keeping your vehicle on the road.

 

 

How to work out a budget to buy a car?

Buying a car is an exciting time whatever your age, but first, you need to consider, Can I afford it!

Pick out the car you would like to buy and estimate the finance and running cost on a monthly basis, consider the following:

  • Repayments on the finance -Monthly.
  • Insurance – Monthly.
  • Vehicle tax – Monthly.
  • Your expected fuel usage – Monthly.
  • Maintenance (include servicing and replacement tyres) – Monthly.

Now you can do the maths! Can you afford to own that car?

Yes! Great, double check your figures and proceed to finance and buy the car. Young Car Driver can help you in our Finance Hub.

No! Not surprising that’s the usual answer. Time for a rethink!

Dare we suggest looking at a similar model but with a smaller engine! The car should cost less, and the running cost will undoubtedly be lower!

 

Do you have a car to sell or part exchange?

If you already own a car are you going to sell or part exchange? You could sell the car privately, part exchange the car with a dealer or sell directly to someone like webuyanycar.com.

 

Do you need finance to buy your car?

If you are lucky, you may have the cash and can buy a car outright, but very few people do this.

Most people end up taking out car finance, and this may be the way to go for you.

See our Car finance section options for young drivers.

Buying a car

Other Young Car Driver information – buying a car

Buying from a car dealer

A dealer gives you benefits, but the car will cost more...

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Car Hire Purchase (HP) finance

car hire purchase for young drivers as seen young women in her new car bought on hp

HP finance available even if your credit score is not good...

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Buying a car privately

private-buyer

A car will be less buying private but so will your legal rights...

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Test driving a car

Book testdrive now

Whats the car like to drive - does everything work - do you like it......

Read More

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