Can I afford a van to live in on 9000 pounds a year?

John786
John786 Online Community Member Posts: 24 Listener
in Money and bills

So when I bought my first car a long time ago it didnt cost that much it already had an MOT and road tax, I handed over 900 odd pounds,  then I got the cheapest insurance I could and didnt drive it much so fuel wasnt much. 

So from my memory it doesn't cost that much. Am I wrong? 

I wont drive it that much. 

Can you advise on what the costs will be per year? (make the decisions as if you were in my situation and you were buying a cheap van to LIVE in the back of)

(like a flat but Ill just chuck a mattress in the back)

Comments

  • John786
    John786 Online Community Member Posts: 24 Listener

    Ok mates I found a van for only 700 pounds on my first search on ebay, it has 200,000 miles on the clock and its a small van almost the size of a car.

    There are other bigger vans for more money like 1000 odd

    How likely is this 700 pound van going to break down in a major way financially?. 

    Is it foolish to buy a van this cheap? Why? (most are thousands even tens of thousands)

    The next biggest cost is the insurance correct? How much is that 200 pounds?

  • Chris75_
    Chris75_ Online Community Member Posts: 3,619 Championing

    How long is a piece of string? Car insurance varies greatly, depending on area, age, disability, vehicle.

    is there a reason you are going to live in a van? The maintenance of the vehicle could soon mount up, especially with an old vehicle. I wouldn't be surprised if insurance companies would consider the vehicle as a motorhome, and i imagine that won't be cheap.

  • OverlyAnxious
    OverlyAnxious Online Community Member Posts: 5,179 Championing

    200,000 miles is very high mileage. Things will break on it. If you can do the work yourself with used parts from ebay or breakers yards then it's not so bad. But garage labour is so expensive nowadays. Not far off £100 an hour in some areas!

    Road tax has been increasing every year. Depends on engine size up to year 2001. Then CO2 emissions from 2001 to 2017. Without knowing the year, type of van, and engine size, it's difficult to estimate that. Something like a Transit van can easily be £300 a year in road tax.

    Insurance depends on your area, your job and your no claims bonus. Insurance could easily be £1000 a year for an unemployed person with 0 no-claims in a rough area.

  • Wibbles
    Wibbles Online Community Member Posts: 2,896 Championing
    edited October 20

    Site fees can be expensive (£15-£30) per night

    https://ukvanlife.co/van-living/
    https://www.motorhomeprotect.co.uk/news-faqs/news/how-much-does-van-life-cost-in-the-uk/

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