College is a stressful yet exciting time in a young person’s
life. A new found independence comes
with a new appreciation for frugality as most college freshman aren’t pulling
in significant amounts of income, if any at all. We thought we would help by giving a few tips
for that college student that is looking for their perfect vehicle to get them
through the collegiate career.
Buy a pre-owned vehicle
Paying money for books and tuition, which can
cost in the thousands to tens of thousands of dollars, is not the time to rack
up a bunch of debt. Although brand new
vehicles look pretty, you can find just as nice of a vehicle that is just as
dependable for way less money than you would pay for new. New cars depreciate so quickly that you can
end up owing more than the car is worth a lot quicker with a brand new one.
If you do need to finance, finance smartly
Sit down and figure out your budget. You need money to live on, food, rent,
utilities. You don’t want to put
yourself in a position where your car payment is not leaving you with any money
to live on. Also consider that having a
car, means insurance payments, fuel money and regular maintenance to keep your
vehicle running in tip top shape.
Research gas mileage
When looking for a vehicle, it is important to
consider your daily commute. Trucks and
SUVs may look nice and be fun to drive, but if you have a 30 mile commute to
and from class every day, you may want to consider something that is more fuel
Make sure you check your insurance rates on a
Take the time to call your insurance company to
find our your premium before you buy your vehicle. College students typically don’t get the best
rates based on their age and lack of experience on the road.
Do you research before you purchase
Check things like, how much a basic oil change
is, how much do brakes and rotors cost, are there any known problems that you need
to be aware of to prepare for up front; don’t be afraid to ask questions
College can be a stressful time but it’s also meant to be
some of the best years of your life. Let
making a vehicle purchase be part of the good times!