The reasons for getting a car are obvious. For instance, according to a survey by Uswitch car insurance, most of us – 35% – want to our car to help us become independent.

Next up is travel flexibility with 22% appreciating how the car can help make traveling potentially simpler. Then there are the 11% who simply need a car for work – 1 out of 6 of us do – with a further 11% needing a car as an alternative to public transport.

The big ‘but’

That’s all fine so far – but Uswitch’s research has revealed how little many of us know about the actual cost of running a car once we get one. For example:

  • More than 1 in 4 young drivers don’t think about how much the car will cost to fuel.
  • 36% of new drivers don’t know how much an MOT costs. Also, research by Halfords reveals that 1 in 6 drivers can’t stretch to the price of an MOT renewal.
  • The worst news? 71% said they’d drive without an MOT, which means a £1,000 fine – that’s way, way more than the cost of a MOT.
  • 54% of new drivers aren’t aware of breakdown services like the AA or the RAC. Remember, you’re most likely to buy a used car as your first motor because of cost ergo it’s more likely to breakdown. That means being a member of a breakdown service is vital unless you want to end up stranded and paying through the nose to get a local garage out with a tow truck.
  • 38% drivers don’t know how much car tax costs – head here to learn more about how much you will pay per year.
  • Perhaps most worrying of all is that 1 in 4 drivers are not even aware that you need to have car insurance to drive your vehicle on the road. And it’s a big, big cost – according to data, the average price for a new driver in the first year is just over £1,700.

Uswitch car insurance’s in-house expert, Leoni Moninska, says that “once you’ve obtained a driving licence and decided you want to buy a car, there are a range of factors to consider. You’ll need to ensure you’re financially prepared for the commitment and decide what car is right for you.”

Buyer beware

Moninska recommends several steps to ensure you don’t come undone when calculating the true cost of owning a car.

For instance, make sure you know all the costs listed above as well as considering where you are going to actually drive, say, to and from work. Are there any toll roads? Congestion charges?

You should also try and figure out your average mileage per month plus put aside some contingency cash to cover any repairs or maintenance your car might need.

Even where you park can have an impact on your costs – if you have a drive, great but if you need to park in the street, you may also need to consider the cost of a parking permit.

In other words, it all adds up. So before you splash the cash on that used car bargain, we recommend you do some homework first so your first car doesn’t come with a nasty sting(s) in the tail.

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