Kiss

The chances are that as soon as you can, you’ll want to drive. It gives you greater independence and more choice in how to gain the most from your life. But before you get behind the wheel, it’s worth considering the costs involved.

Provisional Licence
To learn to drive in the UK, you need to have a provisional licence. You can apply by filling out a form at your local post office, or online. A fee of £50 is required, as well as official documentation to prove your identity.

Driving Lessons
You can normally find approved driving schools using your local directory, or on the Driving Standards Agency website. Prices vary, and you could pay anything from £15 – £25 per lesson (generally lasting 1 hour), so shop around for the best deals. Some companies offer bulk lessons that you can buy, and could save you money.

Theory Test
Before you can take your practical test, you’ll need to pass the theory to prove that you are road savvy. The test consists of 2 sections, multiple choice questions and a hazard perception test. The test costs £30 and can be booked online.

Practical Test
So you’ve had your lessons, passed your theory test and are ready to take the big one. Speak with your driving instructor before booking to ensure you’re ready. Test prices range from £62 – £75, but you’ll also have to pay for insurance and car hire for the test duration. You can book online.

Pass Plus
Statistics show that new drivers are more likely to have an accident in the first two years after passing their test, due to lack of driving experience. The Pass Plus scheme is aimed at new drivers to not only make you a better driver, but it could reduce your insurance premium. For more information on Pass Plus, see this link.

Buying Your First Car
Although you’ll want to go out and buy the car of your dreams, you need to take a step back and work out how much you can spend – not just for the car, but for running costs (car insurance, MOT, road tax, petrol, repairs and servicing). There are plenty of finance deals out there for first time buyers, and always loads of second hand cars – which gives you the ability to haggle for the price. As always, shop around for the best deal check out directgov for more information.

Running Costs
The running costs for your car won’t necessarily come cheap. You need to ensure that your car is taxed, passed a MOT (which can cost anything from £54) and that you are insured (Pass Plus, mentioned above, can reduce your insurance premium.).

Insurance can be a minefield, but by law you need it and it protects you, your vehicle and other motorists against liability in the event of any accident. It provides financial compensation to cover any injuries caused to people or their property. There are 3 types of insurance:

Third Party – is the minimum legal requirement. This level of cover ensures that compensation is available for injury to other people (including your passengers) or damage to other peoples’ property if you cause an accident. It doesn’t cover any costs that you incurred by you.

Third Party Fire & Theft – The same cover as above, but it includes if your car is damaged by fire or stolen.

Comprehensive – The same cover as third party fire and theft, but also includes cover for your car if it is damaged in an accident.

Look here for more information regarding insurance

For more information about managing your money, check out whataboutmoney.info.