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I own a car in central london (unnecessary I know). The fixed costs every year include: about £350 for insurance, £10 road tax, £250 MOT + service
Biggest drawback is congestion charge which kind of defeats the purpose of driving into central london.
If you then factor in depreciation and variable costs it’s probably cheaper to Uber every time
What zone? If zone 2 or closer just don’t bother
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Probably Zone 3. I like driving so I'll be using it for road trips
Vastly depends on the car - my brand new car costs about 1k a year for MOT, insurance tax etc
Ah yeah probably - when I got my first insurance policy in the uk (female and they used to discriminate by gender) I think it was about £700 - my brother’s was 2.5k. Assuming you’re not 18 though, I’m sure yours won’t be that expensive!
Chief
Average driving speed in central London is 10mph due to traffic.
You also have to pay congestion charge daily, parking and ULEZ depending on the vehicle
Chief
I generally avoid routes going through the congestion zone, but took me some time to learn the “free routes”
£800-£5,000 yearly maintenance depending on if you get a Ford Fiesta or a BMW X7
Pro
Depends
Parking in my area (new build) is £300p/m to rent a spot or £50k to buy one
I don't drive
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That's a ridiculous price for a monthly rent, so I'll do my best to avoid that type of building
Related question: I'm 32 and have a non-UK licence for the longest time but just got a new UK one. Will I be still categorised as a new/young driver and be offered high insurance rates?
Your insurance is likely going to be higher due to the lack of no claims bonus (ncb) years
As a car owner in London Zone 3: don't own a car. Unless you really need one to go to the shops or do the school run, a car in London is a giant money pit.
Yea with two kids I think you're screwed. I have only one, and the car seat on the isofix is hard enough to manage.
It also depends on where you live! The parts of town where you need cars tend to have good places for people to park them. My street probably has half a spot per door number in total, and that counts the houses lucky enough to have off street parking. I'm also 3 minutes walk from a station with direct trains to London Bridge. A car for me is half luxury, half way to project economic advantage, in no way a true necessity.