Many students these days are forced to live at home due to the expense of living in halls or in a shared house, but this often means they will need to have transport in order to get to and from lectures.
Buying a car almost seems out of the question, but there are specific loans for students to buy a car. As a student, you should only buy a car if it is entirely necessary – if you do decide to get out a car loan, make sure you shop around to find the best deal and keep in mind:
- Affordability: It is not just the loan repayment you will have to budget for, cars are expensive and you will also have to pay
- Flexibility: You will want to go with a lender that gives you a choice of fixed rates and a choice of repayments terms to fit your circumstances i.e. you may want to choose a repayment term that matches your university course.
Our FREE car loan calculator compares all the leading UK lenders to find you the best car loan available.