In February, it was revealed that almost 350,000 university students had decided not to live away from home in 2017. The reason why so many people had elected to miss out on this important aspect of university life is because of the high costs involved. Paying rent, buying groceries and investing in cleaning products, these can all add up over the duration of an academic year leaving students facing serious financial difficulty. Most of the time, even the highest bands of student loans are unable to cover these costs. Therefore, many students have instead made the difficult decision to continue living at home, driving to campus for lectures and seminars instead.
Living at home, however, can create its own set of problems for university students. Public transport can be equally as expensive as living on campus. Price hikes have seen rail tickets increase by up to 10 per cent over the last few years, whilst student railcards are usually unacceptable during peak times. Furthermore, owning a car is out of the realm of possibility for most students. There is a solution to the problem though: no deposit car finance from companies such as Check Car Finance.
Car finance has become an increasingly popular alternative for money strapped, financially conscious university & college students who need a car to drive to campus. Because they do not require you to pay the full sum upfront, instead letting you buy a car over many months, it is a much easier way to manage your money as a student. You can, for instance, pay off the vehicle in instalments as your student loan comes in. Furthermore, car finance allows you to think more long term. Having said that, you may not need a car with a huge boot to fit a crate for your pet but might need to think main reasons for your purchase with the near future in mind. You can pay small instalments whilst in education with an aim to increase these payments once you are in paid employment after graduation.
Car finance is not always ideal for university students because a handful of lenders require deposits before entering into an agreement. However, this is not the case with Check Car Finance. Our no deposit car finance means you do not have to make an expensive and unfeasible lump sum payment before getting behind the wheel of a car. It makes our car finance a perfect alternative for students living at home and looking for a cheap, efficient way to commute by car to university.