Is Having a Car on Campus Worth It?

Having a car on campus is one of the best conveniences a college student can have.

A car allows you to fully experience all amenities and attractions in the area as well as simply commute comfortably. You no longer have to wait for crowded buses or text all of your friends hoping that someone gives you a ride. Simple daily tasks such as getting to class, going to the gym, and buying groceries become faster and more convenient with a car.

Ultimately, a car provides you the freedom to make spur of the moment plans and provides a higher level of independence. But these benefits can come at a large cost including:

• The initial purchase price
• Monthly loan payments
• Gas
• Routine maintenance
• Car insurance
• Repairs

Depending on the city, parking also may be scarce and expensive. All of these factors can add up to several thousands of dollars each year.

To decide if having a car is worth the costs, the most important considerations are the infrastructure of the city and your personal situation. Some suburban cities are spread out and make travel difficult without having a car. Other cities have great public transportation or perhaps have all necessary amenities within biking distance, making a car less useful.

Do some online research and talk to current students and alumni about whether having a car is worth it. Next think about your personal situation:

• Where would you go on a regular basis?
• How much more convenient and how much time do you save if you had a car?
• What are your projected costs?
• Will you have to work—or work more hours—to afford a car on campus? Will that jeopardize your grades?

Having a car is no doubt one of the best luxuries of college life; you must decide if having one is worth the financial obligation for your situation.

If you decide that having a car on campus will work for you, contact the professionals at Hopewell Federal Credit Union. We can help you save for this goal or provide an auto loan that fits your spending plan. Stop by or call us today.



Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: