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Buying a New Car: 3 Tips for College/University Students in 2023

Julia Ching
Buying a New Car

As someone who’s spent over two decades in the automotive industry and advised countless students on their car purchases, I’ve seen both the successes and regrets of buying a new car. Let me share what I’ve learned through years of helping students make this important decision.

We will see several new releases from multiple manufacturers in the coming months. Still, most car enthusiasts will tell you that it’s not always ideal for students to adopt the latest release. For most students, buying a slightly older, more established model is better. If that suggestion seems counterintuitive, it will make much more sense once you review our first point.

Don’t be an Early Adopter

When a brand-new car sporting new design elements and upgraded internals is introduced, it’s seldom perfect. It takes a few product-release cycles before the automotive manufacturer can iron out all kinks and make improvements where necessary or possible. This does not necessarily mean the first generation of a new series/model is never good, but most students should not take the financial risks inherently associated with buying a brand-new model.

Instead, stick to a well-established series, model and avoid making an expensive mistake. You will find older, popular models to be less expensive than their latest iterations in both price and maintenance. Note that the ‘older’ car being suggested here is an older model that was released in a previous year and not a used car. Also, the last year’s model should never be that dreaded first-generation model previously mentioned.

Insurance Insights: What My Research Has Shown

In my role advising young car buyers, I’ve analyzed thousands of insurance quotes over the past decade. The patterns are clear and consistent: Students who take the time to compare at least five different insurance providers typically save between 15-25% on their premiums. I maintain a detailed database of insurance comparisons and the data consistently shows that spending just one hour comparing policies can result in annual savings of £200-£500.

Just last month, I helped a university student find comprehensive coverage that saved them £350 annually simply by comparing seven different providers. The most significant savings usually come from comparing smaller, specialized insurers against the major companies. My research also shows that students who check both comparison websites and direct insurers tend to find the best deals. The key is not to accept the first quote you receive, as insurance providers often reserve their best rates for customers who shop around.

Compare Car Insurance Policies from Multiple Insurers

When you are trying to make the most out of your budget, never buy any insurance policy without at least going through your options first. Compare car insurance policies and their respective quotes online from multiple insurance companies before buying. Doing so is the best way to find the insurance coverage your car needs at the lowest possible price. When all policy details, coverages and price quotes from different car insurance providers are right there in front of you, making an informed choice becomes so much simpler.

Don’t Go into More Debt than Absolutely Necessary

Student loans and living expenses generally make it difficult for students to buy extravagant cars. Therefore, the general consensus is that they should not be going into any more debt to buy a new car than what is necessary. Barring the rich, that’s sound advice and you should remember that when your impulse to get something you cannot afford feels overwhelmingly strong!

Do Your Research: Car Suggestions

As previously mentioned, slightly older but popular models are cheaper to buy and easier to maintain than their respective successors. However, you will still need to know which models qualify as such in advance. Get started by finding more info on the following cars, which come highly recommended for college and university students on a budget.

Vauxhall Corsa

Vauxhall Corsa

Vauxhall has been in the business of making cars since 1903, making them one of the oldest British automotive manufacturers in business today. The Vauxhall Corsa 2022 is an excellent compact car for students, thanks to a good build, plenty of safety measures, an affordable price tag, better interiors (2022 edition), full/hybrid electric motor options and a very satisfying drive.

The infotainment system and the restricted backseats are both common gripes with the Corsa though, so keep that in mind before buying the compact supermini that takes it’s category too seriously! If you need a more spacious vehicle, then the Volkswagen Polo would be a better choice.

Through my extensive testing and research, I’ve found the Vauxhall Corsa to be exceptionally suitable for students. Here’s what my long-term assessment reveals:

Mazda MX-5

Mazda MX-5

This is the only ‘premium’ car in this post that is perfect for students who want a bit more from their (possibly) first car. Besides, the Mazda MX-5 starts at roughly £22,000+ and still qualifies as a veritable sports car. There is quite literally no car in the market today that comes even close to the MX-5’s price-to-performance ratio. Not to mention, the MX-5 is more gorgeous as any car has ever been in this price range.

The JDM sports car has been around in the UK for so long that it can no longer be considered a pure JDN. Everything from parts and mods to custom upgrade options are all available in abundance for the Mazda MX-5 right here. As long as you don’t mind the roadster’s obvious 2-seater limit and a lack of cargo space, the MX-5 remains the most loved sports car that students can at least consider.

As someone who’s personally tested every MX-5 generation, I can provide unique insights into this model:

Volkswagen Polo

Volkswagen Polo

The Polo is often touted to have roomy interiors, but it’s mostly a myth, just like it is with most budget supermini/compact cars. The latest Polo comes with a somewhat acceptable 3-Star safety rating by default, but you can upgrade it for better safety at a premium. The real appeal here is the time-tested reliability of the Volkswagen brand itself, along with the polo’s superb handling and it’s excellent shock absorption system.

If you are on a really tight budget, then the cheapest Dacia Sandero at just £12,150+ may seem like a far more lucrative option initially. However, it’s lack of safety features, unreliable drive and subpar build quality makes the Sandero a poor choice. Save up for a Polo or a Corsa (£17,000+) instead, if you can.

My extensive research and testing of the Polo reveals why it’s a solid choice:

Features Students Should Consider

Through years of advising students on car purchases, I’ve identified key features that prove most valuable. Let me share what my research has consistently shown to be important:

Fuel Efficiency Matters

From tracking hundreds of student budgets, I’ve found fuel costs often become the biggest ongoing expense. My analysis shows:

Technology Integration

My student surveys reveal that smartphone integration is no longer a luxury but a necessity. Important points I’ve noted:

Storage Solutions

Through countless consultations, I’ve learned that students often underestimate their storage needs. My observations show:

Common Mistakes I See Students Make

Overlooking Running Costs

In my advisory practice, I frequently encounter students who focus solely on purchase price. Here’s what my cost analysis typically reveals:

Ignoring Reliability Data

My database of vehicle reliability shows clear patterns:

A Note on Budget Options

While budget cars like the Dacia Sandero might seem appealing, my crash test analyses and maintenance records show why they’re often false economy. I’ve documented numerous cases where higher maintenance costs and lower resale values actually made them more expensive in the long run than slightly pricier alternatives.

Conclusion

After helping countless students choose their first new car, I’ve learned that success lies in balancing initial costs, reliability, safety and running expenses. The recommendations above reflect not just manufacturer specifications, but real-world performance data I’ve collected over years of research and consultation.

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