The Costliest Universities To Keep A Car At | Car News, Reviews & Buyers Guides

The Costliest Universities To Keep A Car At

May 30, 2017 by Perrys Content Team in Buyers Guides

A new study has uncovered the universities students should dodge keeping a vehicle at, should they want to have any loan left after forking out for parking, insurance and fuel. Our motoring journalist, Tim Barnes-Clay, reports.

By working out the overheads of keeping and owning a car at British universities, latest research can tell which educational establishments are vehicle-friendly, and which undergraduates would be at an advantage leaving their motor at home.

Imperial College London crowned the register of the priciest universities to keep a set-of-wheels. In spite of London students getting a bigger loan than other scholars, owning a motor while reading for a degree at this university will gobble up approximately 75 per cent of their student loan. Oxford, Sheffield, Cambridge and Norwich are also among the costliest universities to own a vehicle at.

The five priciest universities to keep a motor at:

University % of student loan spent on parking % of student loan spent on petrol % of student loan spent on insurance % of student loan spent on overall costs
Imperial College London 41% 6.55% 27% 75%
University of Oxford 45% 8.47% 21% 74%
Sheffield Hallam University 29% 8.40% 29% 67%
University of Cambridge 53% 8.47% 22% 64%
Norwich University of the Arts 32% 8.33% 22% 62%

London students needing to park near to campus for the day throughout term time can anticipate splurging more than two fifths of their student loan (£4500, 41 per cent) on parking alone. Then they can expect to pay another £720.10 on fuel. This, as well as the yearly cost of car insurance, which for a 17-20-year-old in the area is £1872 (22 per cent). Then, three quarters of a student loan (75 per cent) is likely to be spent on simply maintaining a motor in London.

The University of Oxford, while ranking the second most expensive uni to own a car, offers at least some respite from digging deep into your pockets. Oxford enjoys the second most low-cost average car insurance price (£1745). This means students who elect not to park up at the university can still see a large fall in costs.

The study has also revealed the most generous universities to keep a motor at. Notwithstanding the south of England’s reputation for being costly, vehicle ownership there is relatively economical. The five easiest-on-your bank balance universities to keep a car at are either in the south or the midlands.

The five cheapest universities to keep a motor at:

University % of student loan spent on parking % of student loan spent on petrol % of student loan spent on insurance % of student loan spent on overall costs
Southampton Solent University 9% 8.47% 22% 40%
University of Sussex 10% 8.40% 23% 41%
University of Brighton 10% 8.47% 23% 41%
University of Exeter 14% 8.40% 19% 42%
University of Leicester 9% 8.40% 25% 42%

Those student drivers looking to run a vehicle while at university might want to be aware of which areas are more predisposed to car crime. Crime records for vehicle villainy in the last two years reveal that University College Birmingham is the hottest for vehicle theft (99.961/100). Nearby Aston University, Birmingham City University and then Sheffield Hallam University come next.

A spokesperson for Car Parts 4 Less, the firm behind the research, commented: “It’s great to get some solid statistics that definitively show where is best to keep your car at university, and that the south is actually not as exorbitant as you’d think. Unsurprisingly, keeping a car at university in London is a huge cost, however there are other transport options available in the capital.”

With all the above in mind, our guide to the four most economical cars for students might help you keep your motoring costs down, if you need to run a motor at uni.

1. Vauxhall Corsa

Capable of 50mpg and sitting in the lower vehicle excise duty tax band, a five-door, 1.0-litre, 5 2008 Vauxhall Corsa is a top motor for students. With an inexpensive price-tag, an efficient powerplant and in the cheap insurance group 2 category, it’s also roomy enough to transport fellow students around. In addition, it’s easy to get hold of and comes with a variety of trim levels. That said; it’s best to avoid the more athletic Corsa models, which can inflate insurance fees – so keep to the basic versions of the Vauxhall instead.

 2. Renault Clio

Another low-cost hatchback is the French-made Renault Clio. This is a popular first car choice, and while a tad more expensive to purchase than the Corsa, it’s a sophisticated, entertaining run-about that gives good value for money. Go for a 1.2-litre 2006 model to keep the purchase and insurance costs down.

 3. Ford Fiesta

Ford’s Fiesta has been around over 40 years now, and is perennially well-liked by first-time buyers. The supermini offers good space and it’s cheap to buy and run. Indeed, this hatchback is ideally matched to city living and this makes it especially appealing to uni students.

4. Ford Ka

With exceptionally low road tax, bargain-basement insurance and excellent running costs, the Ford Ka, while generally pricier than the majority of cars on this list, is a good car for students. Very popular with women drivers, the Ford Ka’s raised seat position gives a top view of the road ahead.

Contact us at Perrys to find out how we can help you get in to any of the cars, listed above. There might be other vehicles that’ll suit your needs, too.

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