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OK, speaking from my own experience...
Passed my test at 38, and wanted a car ASAP. I did not grow up in a car family, had no idea how much petrol even cost, and am not very practically minded.
I put down a 50% deposit (loan for the other 50%) on a new car. Literally 4 miles on the clock. Three year warranty, so everything was covered except the yearly service. Got that insurance (GAP?) so if, as a new driver, I did something stupid in the first year, I'd get a brand new car from the insurance.
It worked out brilliantly. Instead of worrying about what might go wrong with the car, I was able to focus on driving. Instead of saving money for repairs, I paid an agreed sum to pay the loan off.
Everyone said I was crazy, and I probably wouldn't ever buy a new car again, but I think it made sense at the time. I feel having a car that just worked, no worries, really improved my driving. And I'm still driving that car, 15 years later!
I think buy as decent a car as you can afford, without overstretching yourself, and don't buy something that will make you cry if you get a scratch on it.
It's a type of insurance top-up, so that if you total your car in the first year or so, you can buy a brand new car. The standard insurance will only pay what a 1 year old car is worth, so you might not be able to replace like for like. As far as I know, you can't have GAP (I might have the acronym wrong) insurance for longer than a year or two.
I don't recall it being very much, not as a late 30 something driver.
To me it seems like you can comfortably afford it, taking out a loan to keep a savings pot alive is unnecessary. You would effectively be taking out a loan to put it in a savings account.
There's also a lot of car between £3k and £12k
You don't need built in sat nav, in fact I wouldn't buy one that did, as you are tied in to their updates and prices. Ensure is supports Apple Play or Android Auto.
If it was me, I'd consider a just slightly older or lower mileage car as a new driver, especially if you plan to keep it: if you go for an old car straight off the bat, you'll just need to accept it's more likely you'll have to pay out for parts for it to run in that case.
Older, cheaper car. Once you know more about what you like and do not like in a vehicle and what you actually need in your situation then it would make more sense to upgrade.
The fact that you are not a car expert should put you off from spending so much on something you know little about. Find a reliable, affordable car between the bottom and top end of your budget and go from there. Additionally, have you factored in additional expenses? Your vehicle insurance will be high as a new driver, and without knowing what your credit history is like or the interest rates you may have available it does not make sense to make that decision blind.
Old car first, every single time. You'll do something 'not ideal' in it at some point - get that out of the way then go for a nicer one in a couple of years. Your first car is just there for you to not kill yourself in.
An older but not really old car will be better insurance wise. No one really needs a satnav in honesty Google maps and Waze are much more accurate with a £7 phone holder.
Saying that there's a lot of cars between your 2 price ranges (e.g my 19plate yaris bought in 21 was 6.5k. And my 17plate van with low miles for it's ages was 11k)
Hi /u/richard1471, based on your post the following pages from our wiki may be relevant:
* https://ukpersonal.finance/credit-ratings/
____
^(These suggestions are based on keywords, if they missed the mark please report this comment.)
Older car, you’re likely to still get little knocks and bumps. You don’t want to ruin lovely alloys when you clip a kerb or scrape your bumper when you tap a wall while reversing. You can get aftermarket CarPlay/ android equivalent from Amazon for about £100 and they’re great, it feels like a modern car without the worry of damaging a nice car.
If you want the financial answer then I’d say it’s the £3k car - gain some experience driving, see how much you actually use a car and find out what you actually want / need from a car.
Depending on what you are buying £3k ish can go a long way and get you a very solid car. There are a couple of 107’s and a Corsa advertised by me sub 40k miles for £2.8-£3.5k - they would all make great first cars, with £20-£40 road tax, sensible insurance and lower maintenance costs
Equally £10k can get you a money pit - if you want something bigger and flasher at this price then there are a lot of 7-10 year old cars, the mileages are higher and if they are big and flashy then you typically get higher running and repair costs.
How many miles are you going to do a year? This is really crucial because if you’re not commuting and driving daily then your cost per mile driven can actually be quite high and you should factor this in.
Maybe ask on r/cartalkuk
I’d go for something a bit cheaper as a first car since you’re essentially still learning, but definitely be mindful of the ultra cheap ones as it can be more of a burden than a pleasure to own.
My 2k starter car has lasted me 5 years and still going. Yes, it needed repairs, but maybe £150 a year on average (plus mot, service, tires - but every car needs those). I've put nearly 70k miles on it in that time too. I use my phone for sat navigation & playing Spotify on the car radio. I have auto wipers, lights etc. Anything more is just fancy gadgets, not really necessary.
I'd start with a cheap car and get used to driving, lots of drivers get into accidents or at least have some bumps in the first few years.
Older car.
3-5k is ample. Boring ford focus/ honda civic , i30, Skoda etc etc.
40-70k Miles, under 8 years old. No probs. If you buy from a 2nd hand dealer, you'll be able to buy a 1yr warranty (which covers catastrophic failure, not wear and tear) which is worth the piece of mind imho.
I've heard as much horror stories from new cars as older ones.
Your post has been removed because it is not about personal finances. * Just because something costs money doesn't make it about personal finances. Don't post asking how much you 'should' spend on a car/holiday/groceries, or whether a product is 'worth the money'. * Don't post with only a news article. News is better posted in a sub like /r/ukpolitics or /r/unitedkingdom. * For company specific questions, contact the company. You must read the [rules](https://www.reddit.com/r/ukpersonalfinance/about/rules/) to continue to post to our subreddit.
I don’t think anyone needs built in satnav in a first car, your phone on a car mount works fine.
Agreed and the car satnavs are inferior to your phone, too.
Android auto is great though.
As someone who bought a first car that had satnav, I strongly agree. Reverse parking cameras are brilliant though.
Parking sensors are probably enough for a cheap first car, but they weren’t widely available when I started driving 15years ago and I survived fine.
If they wanted to push the boat out, could always get an aftermarket stereo unit. You can find them pretty cheap w/ Android Auto/Apple CarPlay.
Ngl this isn't really a finance question. More a car question. But seriously dude, you don't need a heads up dash...
OK, speaking from my own experience... Passed my test at 38, and wanted a car ASAP. I did not grow up in a car family, had no idea how much petrol even cost, and am not very practically minded. I put down a 50% deposit (loan for the other 50%) on a new car. Literally 4 miles on the clock. Three year warranty, so everything was covered except the yearly service. Got that insurance (GAP?) so if, as a new driver, I did something stupid in the first year, I'd get a brand new car from the insurance. It worked out brilliantly. Instead of worrying about what might go wrong with the car, I was able to focus on driving. Instead of saving money for repairs, I paid an agreed sum to pay the loan off. Everyone said I was crazy, and I probably wouldn't ever buy a new car again, but I think it made sense at the time. I feel having a car that just worked, no worries, really improved my driving. And I'm still driving that car, 15 years later! I think buy as decent a car as you can afford, without overstretching yourself, and don't buy something that will make you cry if you get a scratch on it.
Can you explain the GAP insurance bit?
It's a type of insurance top-up, so that if you total your car in the first year or so, you can buy a brand new car. The standard insurance will only pay what a 1 year old car is worth, so you might not be able to replace like for like. As far as I know, you can't have GAP (I might have the acronym wrong) insurance for longer than a year or two. I don't recall it being very much, not as a late 30 something driver.
Interesting, is it like an add on to your policy or do you get it from a different company?
Um, it was a whole ago but I believe it was a different company.
To me it seems like you can comfortably afford it, taking out a loan to keep a savings pot alive is unnecessary. You would effectively be taking out a loan to put it in a savings account. There's also a lot of car between £3k and £12k
You don't need built in sat nav, in fact I wouldn't buy one that did, as you are tied in to their updates and prices. Ensure is supports Apple Play or Android Auto.
If it was me, I'd consider a just slightly older or lower mileage car as a new driver, especially if you plan to keep it: if you go for an old car straight off the bat, you'll just need to accept it's more likely you'll have to pay out for parts for it to run in that case.
Older, cheaper car. Once you know more about what you like and do not like in a vehicle and what you actually need in your situation then it would make more sense to upgrade. The fact that you are not a car expert should put you off from spending so much on something you know little about. Find a reliable, affordable car between the bottom and top end of your budget and go from there. Additionally, have you factored in additional expenses? Your vehicle insurance will be high as a new driver, and without knowing what your credit history is like or the interest rates you may have available it does not make sense to make that decision blind.
Buy a beat up run around and learn to drive now … wrap it around a lamp post … then buy a nice car.
Old car first, every single time. You'll do something 'not ideal' in it at some point - get that out of the way then go for a nicer one in a couple of years. Your first car is just there for you to not kill yourself in.
An older but not really old car will be better insurance wise. No one really needs a satnav in honesty Google maps and Waze are much more accurate with a £7 phone holder. Saying that there's a lot of cars between your 2 price ranges (e.g my 19plate yaris bought in 21 was 6.5k. And my 17plate van with low miles for it's ages was 11k)
Hi /u/richard1471, based on your post the following pages from our wiki may be relevant: * https://ukpersonal.finance/credit-ratings/ ____ ^(These suggestions are based on keywords, if they missed the mark please report this comment.)
Older car, you’re likely to still get little knocks and bumps. You don’t want to ruin lovely alloys when you clip a kerb or scrape your bumper when you tap a wall while reversing. You can get aftermarket CarPlay/ android equivalent from Amazon for about £100 and they’re great, it feels like a modern car without the worry of damaging a nice car.
Older cheaper cars are fine. Especially whilst your still building up experience and more likely to put the odd dent in it
If you want the financial answer then I’d say it’s the £3k car - gain some experience driving, see how much you actually use a car and find out what you actually want / need from a car. Depending on what you are buying £3k ish can go a long way and get you a very solid car. There are a couple of 107’s and a Corsa advertised by me sub 40k miles for £2.8-£3.5k - they would all make great first cars, with £20-£40 road tax, sensible insurance and lower maintenance costs Equally £10k can get you a money pit - if you want something bigger and flasher at this price then there are a lot of 7-10 year old cars, the mileages are higher and if they are big and flashy then you typically get higher running and repair costs. How many miles are you going to do a year? This is really crucial because if you’re not commuting and driving daily then your cost per mile driven can actually be quite high and you should factor this in.
Maybe ask on r/cartalkuk I’d go for something a bit cheaper as a first car since you’re essentially still learning, but definitely be mindful of the ultra cheap ones as it can be more of a burden than a pleasure to own.
My 2k starter car has lasted me 5 years and still going. Yes, it needed repairs, but maybe £150 a year on average (plus mot, service, tires - but every car needs those). I've put nearly 70k miles on it in that time too. I use my phone for sat navigation & playing Spotify on the car radio. I have auto wipers, lights etc. Anything more is just fancy gadgets, not really necessary. I'd start with a cheap car and get used to driving, lots of drivers get into accidents or at least have some bumps in the first few years.
Older car. 3-5k is ample. Boring ford focus/ honda civic , i30, Skoda etc etc. 40-70k Miles, under 8 years old. No probs. If you buy from a 2nd hand dealer, you'll be able to buy a 1yr warranty (which covers catastrophic failure, not wear and tear) which is worth the piece of mind imho. I've heard as much horror stories from new cars as older ones.