<p>So, I'm a college student about to enter my sophomore year. I'm living off campus this year, especially since the cost of housing has gone up significantly. The walk to campus from my residence is about 25 minutes one-way, and I have classes from as early as 8am to as late as 8pm.</p>
<p>I'm considering buying a car this year, but after looking at the insurance rates, it has got me thinking if buying the car is worth it. So far, I've justified the purchase for the following reasons:</p>
<p>a) Buying groceries (Supermarket is 4.5 miles away)
b) Gym (School gym is not an option, gym is about 2.5 miles away)
c) Classes (I CAN get up and walk at 8am and walk there again at around 6PM for my evening class, but it's about the ease factor)</p>
<p>The basic insurance I've found is $170/month from Liberty Mutual, or $249 for a more advanced coverage. I don't know whether I'm purchasing a new or used car yet. Also, getting parking on campus is easy, and only costs $75 a year for the sticker. Purchasing the car is not my concern, neither are the rising prices of gases (ahh), but it's the insurance that worries me.</p>
<p>So, opinions? And also, does anyone have any tips on lowering the premium? I already qualify for the B+ student discount and the safety features on the car. Mind that I'm an international student, so being placed under parents isn't an option :o.</p>
<p>It’s not worth the insurance until your senior year . 25 min walk to campus hardly requires a car. Gym and groceries you can take the bus much cheaper.</p>
<p>From what you’ve written, there is no great reason to get a car for just the “ease” factor unless there is more than you’ve written. If you’re paying over $170-$249 for insurance, you could easily pay less for cab fares to get to & from the grocery store even weekly! You could buy a bike & pedal to the locations you mention easily or catch a bus. If you share the cab with other students, the cost is lower still. If you catch a ride, you may make a friend and can treat him/her to a meal that you prepare from the groceries.</p>
<p>A car is a significant expense–purchasing, insuring, maintaining (including repairs), tickets, gas, etc. If you don’t HAVE to have a car, really try to keep doing without one. </p>
<p>By the way, why is the campus gym not an option? Most schools are charging you fees for you to use the gym. Walking to & from class–morning & evening will help you keep fit as well. For the gym, can’t you bike? Share a ride? Find other means of getting there & back?</p>
<p>How is your public transportation system? How much do you have to spend on a car? No one is going to lease to an international student with, I’m assuming, no credit. Therefore, you’d have to buy it up front. </p>
<p>How are you worried about the $170/month insurance but not the price of a new car?? FWIW- just driving my car around campus and work costs me less than $20 every other week.</p>
<p>25 minutes walking - that’s what, 1.25 miles? Consider a bicycle, that’s what I’m doing. Not the most ideal option (especially for the supermarket in your case) but it does work and it’s a lot faster than walking. </p>
<p>@Romani maybe he has enough money saved up to buy a car. I know I had the capability of buying a used (crappy) car last summer but I didn’t have the capability of paying for the insurance or gas. My insurance quotes have already gone down substantially in that time frame but it’s still pretty pricey. I might get a car next summer if I get a nice internship, especially if it’s somewhere with bad public transportation.</p>
<p>e: As for lowering your premium, the only thing I can think of is altering your birth certificate and all your IDs so you can say you’re older but I’m pretty sure that’s very illegal ;)</p>
<p>I’m in a very similar situation to you, and I suggest you to consider getting a bike.</p>
<p>25min walk = 10min bike ride (and much less time wasted parking)</p>
<p>4.5mi supermarket = 15min bike ride, but also a good workout; a 6-gal milk crate on the back of your bike carries up to a week’s worth of groceries for two people.</p>
<p>Since you already rode your bike to the supermarket and classes, the gym sort of becomes unnecessary. That equals time saved. If you insist on targeted workouts for your upper body with certain equipment, the bike ride there will be a nice warmup.</p>
<p>My road bike costed me $400 after the milk crate and all, and it costs me $100/yr to maintain it well.</p>
<p>^ $100/year? Jeez that means you replace the bike every 4 years…what are you doing that’s so expensive? My bike is 10 years old and the only thing I do is oil the chain every couple of months.</p>
<p>^ Haha, fair enough. If that’s the deal then I highly suggests he asks for a relatively cheap car and have them use the extra to pay for insurance.</p>
<p>I was an avid cyclist for several years until I quit and picked up BodyBuilding - Thus the gym is still a necessity.</p>
<p>@others</p>
<p>I’ve saved up for a new car, however I’ve looked at the depreciation value of my preference cars and have found that a used might be a better option, even with the out of warranty (I know some certified have an option of additional warranty). So, I’m probably going for a used. I’d be the one paying for insurance, so I’m still searching around for the lowest premium. Still looking at kbb, edmunds and other websites to calculate the total cost.</p>
<p>And a motorcycle… I live around extremely hilly areas, I’d rather not risk my life, and the snow… oh the snow during those months. As for the insurance, I’m still waiting on a reply from my university regarding work study. I’d rather work off the insurance than pay for it from my own pocket :).</p>
<p>I’ve saved up for a new car, but with the heavy depreciation a used car might be the better option. Edmunds and KBB have been truly useful! As for the insurance, I’m still waiting for a reply from my university about work study - I’d rather work off the insurance. And the motorcycle option… a) My area is extremely hilly, b) I’d rather not risk my life and c) oh the snow.</p>
<p>^ Personally wouldn’t touch a car with more than 100k miles on it. Too likely you have to start replacing expensive parts with expensive labor. Hell most people are too lazy to even do oil changes (or pay someone to do them).</p>
<p>I think I am ina similar situation. I made plans to purchase a car but I was never able to find a summer job, and towards the end of July I decided it was no longer worth the search as it would be unlikely to get hired for just four weeks. I will not wait untili school starts back, since I do have a job on campus. So if you also have an on campus job it should be easy to budget ( until the summer). Also try to get on your parents car insurance plans, it will be much cheaper, likely half price than the 170 you mention.</p>
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<p>Edit: Just read that your an international student. Can you purchase the car in full? That way you do not have to get full coverage.</p>
<p>Also do you live near a Zip Car? Could be helpful.</p>
<p>I plan on purchasing the car in full. That way, it’ll lower my total premium insurance and I won’t have to pay any extra financing taxes (and leasing is too expensive in the long run, especially with the high price of insurance, and the minimum insurance needed).</p>
<p>I’m under 21, so ZipCar is not an option (sigh). My university has no special contracts with ZipCar too.</p>
<p>I’ve decided that I’m going to wait for a reply from the financial aid office. I’m going to apply for a job on campus, and if I can attain one then it’ll cover my insurance costs. Ultimately, I’m still debating on the new vs used. In the long run, a new car would cost about ~3,000 more (of course, depending on the make of the car, depreciation rate and a bunch of other factors) than a used one at the ones I’m looking at. Also, I was looking at insurance rates of a 2007 Subaru vs a 2011. The 2007 had an insurance premium of $193 for State Minimum, whereas the 2011 had an insurance premium of $167 for State Minimum (just as examples).</p>
<p>I’ve also thought of getting a job on campus, getting an SSN and possibly building credit (for example; I heard ATT reports to the credit bureau). Any opinions?</p>