PhD Student Trying to Buy a car

somethingcorporate

If you've had the stipend for a year and only have £1k in savings are you sure you could actually afford a loan? A £10k car over 3 years would be £300 a month and you dont appear to have saved £3.6k in this last year that you would need to cover it in the next 3...

Voyager2002

When I was doing a PhD I described myself as being a "researcher" rather than a student, and this should help a bit with getting credit.

The real issue is that I doubt if you can afford it. Before going any further, find out what your insurance would cost, taking account of your age and your driving history (or lack thereof). And don't forget that most PhD 'students' need to take some time for writing up after the funding finishes, and then face an indefinite period applying for jobs before getting anything relevant.

All in all, options such as cycling short distances; car-sharing with "Blah blah car' or similar; and trains with the student railcard, are likely to end up being far more affordable, less hassle and perhaps even more fun.