The Benefits and Risks of Owning Your Own Car for Students

Published: October 27, 2023

What is one of the fundamental decisions for college students to make during their studies? Is buying a car a luxury or just a necessity? In the overwhelming majority of instances, learners struggle to earn their living at college, which makes the idea of purchasing a car unreal. At the same time, students who know how to work hard, stay goal-oriented, and save money can start a new chapter of their lives by buying their own vehicle.

Getting a car is one of the accomplishments that keeps students motivated and inspired to keep working and making maximum effort to earn a decent living. The question is how reasonable it is to buy a car while at college. Why should students consider purchasing the vehicle? Are there any risks or downsides?

As with any other undertaking, owning a car at college has tons of advantages, but also several disadvantages which should be obligatorily taken into account. Keep reading if you want to make the right choice you will not regret. Weigh all the pros and cons of the experience and decide what car you want to get first.

Merits of Having a Car at College

Owning a car is undeniably one of the achievements for college students. It is usually a result of hard work, persistence, and unlimited motivation. Apart from the extra self-confidence owning the car can give, it offers a plethora of other benefits that should be taken into account:

● Maximum flexibility and independence

● Freedom to travel

● No need to use public transport anymore

● An opportunity to see your family often

● Less time spent getting to college or work

Flaws of Owning a Car

Do you anticipate the freedom to travel and get to places in no time? Keep in mind a few downsides that will make your purchase a bit less inspiring:

● Cost. It is definitely the biggest disadvantage of owning a car. In most instances, college students find it hard to make ends meet, and getting a vehicle will add to the struggles. Apart from the cost of the car itself, you should also consider regular check-ups and other expenses related to its maintenance.

● Parking fees. Driving to places fast is undeniably one of the most impressive advantages, but spending time to find a parking spot is a downside. Moreover, chances are you will have to buy a parking pass, which will also affect your budget and add to your monthly expenses.

● Gas prices. Fuel is a must. Be ready to fill up your car every now and then, spending considerable sums of money on your comfort.

How to Choose the Car

Are you convinced that buying a car at college is 100% worth it? Then, you should skip the analysis stage and go straight to planning. Choosing the best vehicle is quite a time-consuming and tedious task that will require much of your energy. Make sure the process will not affect your mood and academic success. If you need some time to consider the purchase, you can always take advantage of the best mba essay writing service that will have your back with urgent college assignments while you analyze the market and detect the most impressive and affordable car.

It is finally time to make the choice. What are the aspects to be taken into account? Are there any recommendations on how to choose the best vehicle out there? Surfing the web, you may come across various comments from experienced students sharing helpful tips that will make your choice much simpler and more reasonable. Check out some of them before you make a move:

● Mind your budget. Are you determined to get a fancy car that will impress everyone around you? Do you want to get a loan to purchase a dream vehicle? Analyze the market and find the best option that will both satisfy your needs and suit your budget. Chances are that college students have a lot of other expenses, so new debts may not be the best decision. Focus on the vehicles you can afford; it will help you enjoy the comfort of owning the car and will prevent you from extra stress caused by the necessity to pay off the loan.

● Think about maintenance. Buying the car is important, but taking proper care of the vehicle is not less demanding. Although most students are too excited about purchasing the car and they forget about this aspect, it should also be considered during the decision-making process. Even if you can afford to get a specific vehicle, you should also analyze other expenses you must cover to keep it functioning properly. Start with the fuel consumption, maintenance, accessories, and similar items you must buy.

● Get advice. Even though this point is frequently skipped and ignored, it may help you thrive with the undertaking and buy the best car out there. What may seem a real challenge for you is a no-brainer for an expert. Contact your friend or an acquaintance who could help you make the right choice. 

Founder, Editor-in-Chief Carmelo Pickel is the Founder and Editor-in-Chief of Keep Driving, with almost 20 years of experience working in the industry. Before founding Keep Driving, Carmelo held leadership roles for over a decade on top automotive dealership corporations across North America, handling various leadership roles in Sales, Marketing, and Incentives.
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