KEEPING A CAR AT UNIVERSITY? AVOID THESE FIVE UNIVERSITIES AT ALL COSTS

  • Keeping a car at Imperial College London costs up to 75% of a student loan [5]
  • 4 out of the 5 cheapest universities to keep a car at are in the south
  • University College Birmingham the worst for vehicle theft

Car Parts 4 Less has revealed the universities students should avoid keeping a car at should they want to have any loan left after paying for petrol, parking and insurance.*

By calculating the costs of owning and keeping a vehicle at universities across the UK, Car Parts 4 Less can confirm which campuses are car-friendly, and which students would be better off leaving their car at home for the semester. [1]

Imperial College London topped the list of most expensive universities to keep a car. Despite London students receiving a higher loan than other students, owning a car while attending this university will eat up approx. 75% of their student loan. Oxford, Sheffield, Cambridge and Norwich made up the rest of the top five most expensive universities to own a car.

The five most expensive universities to keep a car at are:

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University% of student loan spent on parking [2]% of student loan spent on petrol [3]% of student loan spent on insurance [4]% of student loan spent on overall costs [5]
Imperial College London41%6.55%27%75%
University of Oxford45%8.47%21%74%
Sheffield Hallam University29%8.40%29%67%
University of Cambridge53%8.47%22%64%
Norwich University of the Arts32%8.33%22%62%

London students wanting to park close to campus for the day during term time can expect to spend over two fifths of their student loan (£4500, 41%) on parking alone [2], with a further £720.10 spent on petrol (based on local prices) [3]. This, alongside the annual cost of insurance which for a 17-20 year old in the area (£1872, 22%) [4], totals three quarters of their student loan (75%) spent on maintaining a car in London.

For students at the University of Oxford, who come in second most expensive, it’s not all bad news; this area boasts the second cheapest average insurance price (£1745) [4], meaning students who choose not to park at the university can still see a huge drop in cost.

Car Parts 4 Less has also revealed the cheapest universities to keep a car. Despite the south’s reputation for being overpriced, car ownership there is pretty cheap; the five cheapest universities to keep a car at are either in the south or midlands.

The five least expensive universities to keep a car at are:

University% of student loan spent on parking [2]% of student loan spent on petrol [3]% of student loan spent on insurance [4]% of student loan spent on overall costs [5]
Southampton Solent University9%8.47%22%40%
University of Sussex10%8.40%23%41%
University of Brighton10%8.47%23%41%
University of Exeter14%8.40%19%42%
University of Leicester9%8.40%25%42%

Those looking to keep a car at university may want to note which areas are more prone to vehicle crime. Crime rankings for vehicle theft in the last 24 months show that University College Birmingham is the worst for vehicle theft (99.961/100), closely followed by Aston University, Birmingham City University and Sheffield Hallam University, which is also the third most expensive city to keep a car at. [6]

A spokesperson for Car Parts 4 Less said: “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 extortionate as you’d think!

“Unsurprisingly, keeping a car at university in London is a huge cost however there are many other transport options available in the capital. Hopefully our guide on the most cost-effective cars for students can help those who have to have a car, keep their costs down.”

To see which cars are the recommended top 5 for students, visit our blog here: http://blog.carparts4less.co.uk/2017/05/top-student-cars/

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