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Essential Guide To Car Scrappage Scheme: Is your car fit for 'Scrap'?

The announcement of the Irish Car Scrappage Scheme has certainly generated a lot of interest from both the industry and the buying public. The opportunity to purchase a new car and save €1,500 doesn't come along often, and now that the dust is starting to settle on the Government's budget speech I thought it would be useful to take a look at the 'fine print' that usually goes with these incentives.

Self employed car insurance uk calculator Posted by Shane Teskey on 16 December 2009 in New Cars

Scrappage Scheme: Benefits for Buyers, But Conditions Apply

There’s no doubt that scrappage schemes can offer the buyer a rare opportunity to purchase a new car with a government discount, so it’s important to understand any special terms and conditions that may be the difference between your car qualifying as ‘Scrap’ or remaining on the road for the foreseeable future. Here is a concise overview of the main conditions of the Irish Government’s 2009 Car Scrappage Scheme:

General Conditions of the Irish Car Scrappage Scheme

  • Duration: The Car Scrappage Scheme will run from 1 January 2010 to 31 December 2010.
  • Relief Available: VRT relief of up to €1,500 will be available to qualifying purchasers of new vehicles.
  • Qualifying New Cars: The VRT relief will be provided where a new Category A car is purchased which is emission classified in Bands A or B (i.e. with CO2 emissions of 140g/km or less)
  • Qualifying Scrapped Cars: Things get a little trickier when it comes to the “old” car that must be scrapped, but here are the main conditions. The scrapped car:
    • Must have been registered in the State in the name of the purchaser of the new car for at least 18 months previous to the date of scrappage;
    • Must be 10 years old or more from the date of first registration;
    • Must be scrapped after 9 December 2009;
    • Must be scrapped within 60 days of the date of the new car being registered, OR have been scrapped within the previous 60 days of the date of the new car being registered provided the date of scrappage is after 9 December 2009;
    • Must have a valid NCT certificate of roadworthiness, OR one that has expired no more than 90 days prior to issue of the Certificate of Destruction OR documentation to indicate that it has been presented for and failed an NCT roadworthiness test in the previous 6 months;
    • Must have been insured for use on the road for at least 12 months in the 18 months prior to the issue of the Certificate of Destruction;
    • Being ‘scrapped’ means that the old car has been taken to an official End of Life Vehicles (ELV) authorised treatment facility and a Certificate of Destruction is issued by the facility in respect of the car. Further detailed information on the operation of the scheme will be posted on the Revenue website in the coming days.

Some Common Questions About the Irish Scrappage Scheme

Q. When will the Irish car scrappage scheme start?

A. The Scrappage Scheme will run from 1 January 2010 to 31 December 2010.

Q. How much of a saving can I make on the purchase of a new car?

A. A discount of €1,500 will be available when you scrap a 10-year-old-or-more car.

Q. Is there any restriction on what car I can buy when availing of the Irish car scrappage scheme?

A. Yes. The VRT relief will be provided where a new Category A car is purchased of emission Bands A or B (i.e. with CO2 emissions of 140g/km or less) and an old car is scrapped.

Q. Does the car being scrapped have to be registered in my name?

A. Yes. The car must have been registered in the Republic of Ireland in the name of the purchaser of the new car for at least 18 months previous to the date of scrappage.

Q. Is there an age restriction on the scrapped car?

A. Yes. The car must be 10 years old or more from the date of first registration.

Q. Can I buy the new car first and scrap my current car afterward?

A. Yes, but your car must be scrapped within 60 days of the date of the new car being registered, or have been scrapped within the previous 60 days of the date of the new car being registered, provided the date of scrappage is after 9 December 2009.

Q. Does the car being scrapped have to have a valid NCT?

A. Yes. The car must have a valid Irish NCT certificate of roadworthiness, or one that has expired no more than 90 days prior to issue of the Certificate of Destruction; or documentation to indicate that it has been presented for and failed an NCT roadworthiness test in the previous 6 months.

Q. Does the car being scrapped have to have valid insurance?

A. Yes. The car must have been insured for use on the road for at least 12 months in the 18 months prior to the issue of the Certificate of Destruction.

Q. Can I ‘scrap’ the car myself and keep some of its parts?

A. No. Being ‘scrapped’ means that the old car has been taken to an official End of Life Vehicles (ELV) authorised treatment facility and a Certificate of Destruction is issued by the facility in respect of the car.

If you have any questions about the Irish Car Scrappage Scheme pop them in a comment below and we’ll do our best to find you the answers.

Other Posts we've Written on This Topic

  1. Scrappage Scheme Costing Dealers Millions The current public sector go-slow is costing Irish dealers 2.5 Million Euro in unpaid scrappage...
  2. Budget 2010 – Scrappage Scheme, Should YOU buy? So now it's official! 2010 will see the introduction of a long awaited for scrappage...
  3. Scrappage Scheme Rules Relaxed for Spouses Changes to legislation mean you may have to bring a copy of your marriage certificate...
  4. New Band A Cars Qualifying for Scrappage Scheme Discount We've spent some time wading through the our car database to bring you a full...

205 comments so far

The new india assurance co ltd car insurance renewal Reply audrey December 19, 2009 at 1:03 am #

Does the scrappage scheme only apply to brand new cars or also used cars with low emissions?

Car insurance quotes online louisville ky airport Reply Admin December 19, 2009 at 4:53 am #

Hi Audrey

The scrappage scheme only applies to new cars purchased. Pre-owned cars do not qualify. We hope this helps.

Short term car insurance cheapest Reply joe conway January 13, 2011 at 3:22 pm #

hi.i want to register a new car this month for a scappage client but her car isnt 10 years old until february.can i do this and scrap her car within 60 days or do i have to wait until the original date of registration?

Cheapest temporary car insurance comparison Reply noel December 22, 2009 at 3:06 pm #

my car is 13 years old,its in my name 6 years,it has been privately taxed, driven on my garage insurance for the past 6 years all in my name,can i use this car for the scrappage scheme,to buy a new car.

Cheapest full coverage car insurance in indiana Reply Shane Teskey December 22, 2009 at 9:06 pm #

Hi Noel, thanks for your question. If your car has a current NCT or proof of just having failed one I can’t see any reason why it won’t qualify for the scrappage offer. Out of interest – what are you thinking of buying?

2 month free car insurance Reply noel December 23, 2009 at 12:40 pm #

Hi shane, Yes it has 2 year NCT. I am buying a renault scenic, thanks for your help. Noel.

Rental cars insurance geico lizard Reply Shane Teskey December 23, 2009 at 12:48 pm #

You should be fine so. Best of luck with the new car! Can’t say I’m surprised your going for a Renault. There’s some great value there at the moment.

Car insurance estimator mn state Reply jimmy January 10, 2011 at 8:08 pm #

if i avail of the scrapage on my old car, how long before i can sell the new one. im thinking of buying a new car for my friend but he is worried that i wont be able to transfer it into his name straight away.

Etiqa takaful car insurance melaka a Reply Roger January 8, 2010 at 11:39 pm #

Can I purchase a new car from outside the republic ( europe: uk, france, holland,etc) and bring it in, pay the VRT and then scrap my old car (96, owned for 7 years plus, nct, insurance etc complient) and reclaim 1500 euro back?
If yes, what is the way to proceed? Scrap first and resolve when first registering?
Will i need extra proof of the emissions for the imported car?
thanks

Gatwick car hire uk insurance Reply Shane Teskey January 10, 2010 at 1:26 pm #

Hi Roger,

I’m pretty sure that the scrappage scheme is available to you regardless of where your new car is first sourced. Just make sure that when it comes to paying the VRT in Ireland that it is in fact a ‘New Car’. I.e. one that has not previously been registered in any other country.

If your old car is just lying idle I suggest you bring it along to an ATF (Authorised Treatment Facility) and obtain a Certificate of Destruction. You’ll need this when claiming your scrappage discount on the VRT of your new car. Be sure that you have your dates carefully worked out though as the car being scrapped must be scrapped within 60 days of the date of the new car being registered, OR have been scrapped within the previous 60 days of the date of the new car being registered provided the date of scrappage is after 9 December 200.

Lloyds insurance ireland car Reply roger January 15, 2010 at 8:03 pm #

thanks Shane – interesting
Roger

Canned haggis sainsbury Reply Rosaleen February 17, 2010 at 12:43 am #

Hi
My car is not 10 years old ’til 31 may 2010, so I was looking on some of the car maker websites. Some makers are only giving 1250 on scrappage and then their 250 bonus! (kia for one!). Whats the story?? Is this legit??

Why are some cars given more discounts than others? Nissan Pixo has 1500 while micra has 3000 off. What gives?

Cheaper car insurance if married can one spouse Reply Shane Teskey February 17, 2010 at 11:14 am #

Hi Rosaleen,

The scrappage scheme on offer from the government will be the same on every car. I.E. Up to 1,500 off the vrt of the car. I say ‘up to’ because some cars have a vrt amount that’s less than 1,500.

The different offers you mention above are additional discounts added by the manufacturer. These will differ from car to car so it pays to shop around as you’re doing!

Car insurance 17e Reply David February 17, 2010 at 9:42 pm #

Hi Shane,
I know you’ve probably been asked this a thousand times but i was told at a dealership that it was not possible.

If my brother purchases a new car and scraps his old one can he transfer ownership of the new car to my father right after the purchase of the new car or does he have to hold on to the new car for 12 months or so?

Dad has a 00 car and it qualifies for scrappage but he would rather keep this one and get my brothers scrapped and this is the reason my brother is looking at scrapping his car and buying the new one in his name.

Any info would be great!
Regards
Dave

Anygator car insurance Reply Shane Teskey February 19, 2010 at 7:15 pm #

Hi David,

You’re brother is entitled to sell his car whenever he likes! Of course he will be the first registered owner of it but he doesn’t have to keep it for any minimum of time.

Hope this helps!

Insurance compensation for car accidents Reply David February 20, 2010 at 11:54 am #

Thanks Shane,

Will effect the warranty on the new car when my brother transfers the new car to my father?

Regards
Dave

State limits for car insurance Shane Teskey February 20, 2010 at 9:53 pm #

Nope. Warranty stays with the car irrespective of the owner.

Contact details for 1st central car insurance Reply Michael February 17, 2010 at 11:10 pm #

I have a 1992 Nissan Sunny which we have owned for almost 18 years. It is been taxed and insured since then and has current NCT. I want to scrap it but find I am ineligible. When I purchased the car in 1992 and went to insure it, PMPA as it was then would not allow me to insure 2 cars (we run two cars) so my wife had to insure it in her name While I have always been a named driver, I am ineligible for scrappage as I have not personally insured it for 18 months.
This is crazy as the car has been in the family at the same address for 18 years and still not eligible for scrappage. The bank will accept a untility bill in my name for my wife when she goes to open an account. Why not revenue. I am really really annoyed.

Average car insurance rates in ga Reply Shane Teskey February 19, 2010 at 7:14 pm #

Hi Michael,

Take a look at Brian’s comments also. I’m thinking of petitioning Revenue on this!

Stolen car insurance claim malaysia airlines Reply Brian February 18, 2010 at 4:05 pm #

Hi Shane,

I have the same scrappage problem as Paul and Anne -this nonsense about the Insurance Policy. I am the registered owner of a car which is 13 years old, fully taxed and insured and valid NCT to Dec 2010.

Did a deal on 19th January and paid deposit. Produced all documents and garage advised that car qualified. Am awaiting delivery as I ordered a colour that was not in stock. Now find I am in no-mans land because goal posts appear to have moved.

I am specifically named on the insurance policies as named driver ( I was previously the principal driver but changed that to my wife for family reasons to ensure compliance with law in relation to insurance policy!). Have been on to Revenue Commissioners who have simply stated that car does not qualify but cannot explain why this stipulation about insurance has been included.

I would be interested in joining a group of similar affected people to challenge this. Have started to email TD’s and Ministers as they have power to change before they vote on Finance Bill in April. Suggest everyone else does the same.

Safe auto car insurance 1 800 number Reply Shane Teskey February 19, 2010 at 7:12 pm #

Hi Brian, You’re not alone on this one. It looks like there may be many people in the same position as you. What do you think – should we start a petition and try to lobby Revenue for a change in the rules?

Car insurance online instant proofreading Reply Michael February 19, 2010 at 7:27 pm #

A small amendment to the Finance bill would sort out the problem. The anomaly arises largely due to the fact that a person could only insure a single vehicle – don’t know if this is still the case or if it was actually a legal requirements. I have already contacted some TDs on this but we need to do more.
Why not try to get the SIMI to get on the case? They pushed hard for the scrappage scheme. I emailed them but did not even get a reply. The rule clearly discriminates against families who own more than one car – this might be an agrument against the present situation.
I always understood that under our Constitution, the family is a unit and most financial transactions accept this. Again, this might be an argument for a derogation in the case of family owned vehicles.

Military discount car insurance uk Reply catherine February 21, 2010 at 12:42 pm #

What insurance documents need to be presented in order to qualify for the scrappage scheme? Do you need to get an up to date insurance letter from the insurance company confirming insurance cover was operational or will certificate issued at start of insurance year (i.e. 1.3.09 to 28.2.10) suffice?

What other documents are required and do you have to organise scappage documents yourself and present to garage or does the garage that you are dealing with do this for you?

Car insurance for convertibles Reply Shane Teskey February 23, 2010 at 3:12 pm #

Hi Catherine,

The insurance certificate should be fine for confirming the name on the policy. Your dealership will handle all of the other paperwork for you but you’ll need to bring along the vehicle licensing certificate and the NCT certificate (if applicable).

Can i insure a leased car Reply Paddy Comyn February 22, 2010 at 5:44 pm #

Hi guys – Paddy Comyn here from The Irish Times Motors. I would like to talk to anyone who has had problems with the scrappage in terms of the terms and conditions.

Paddy

Car waiver insurance uk home Reply Michael February 24, 2010 at 10:09 am #

Annex F of the 2010 Budget speech sets out the details of the scrappage scheme. They are as outlined on the top of this page. The insurance stipulation states:
‘Must have been insured for use on the road for at least 12 months in the 18 months prior to the issue of the Certificate of Destruction’.
Someone someplace amended this to include the restrictions included in the version on the Revenue web site !
We need to get back to the original conditions immediately – one presumes that this is what the Minister indented.

Car insurance questions and answers uk Reply Paddy Comyn February 25, 2010 at 5:21 pm #

Hi guys – got this today from the Dept of Finance -

“Since the inception of the scrappage scheme on I January 2010, it has become clear that many vehicles are acquired for use as ‘family vehicles’ and are frequently registered for VRT purposes in the name of one spouse, but insured in the name of the other spouse.

Accordingly, the scope of the scheme under Section 102 of the Bill, has been extended by providing that any reference to a “person” in the relevant subsection of the section may in the application of those provisions be construed by the Revenue Commisioners as a reference to either the person concerned, or to that person’s spouse.
Consequently documentation in the name of one spouse is to be taken into account for the purposes of the other qualifying under the scheme. Following this change, documents relating to vehicle ownership and vehicle insurance can be presented in the name of either spouse in order to qualify for the repayment of VRT.”

Low cost car insurance in nj new jersey Reply Joan Johnson February 25, 2010 at 6:42 pm #

Hi Paddy,
That’s good news for the married couples but unfortunately it does not help the parent/ child “family car” situation ( or the partners one!). Any chance they might move another inch ?

Car insurance nyc average Reply Paddy Comyn February 25, 2010 at 6:54 pm #

That I don’t know yet, but I have asked. The answers take a while

Gnaas car raffle insurance Reply Odel February 27, 2010 at 6:35 pm #

Hi

My husband has a Citroen Berlingo (VAN) 1999. I was wondering if this would qualify for the scrappage scheme?

Average car insurance rates raleigh nc craigslist Reply Shane Teskey March 2, 2010 at 2:19 pm #

Hi Odel, Unfortunately not. Scrappage only applies to passenger cars.

A plan car insurance bournemouth hospital Reply Mary C February 28, 2010 at 8:23 pm #

I want to buy a car and I’m not eligible for the scappage scheme, so I’m wondering if it would it be possible for a friend to purchase a new car under this scheme, thereby getting rid of her old Micra by scrappage. Then some time after the purchase was made, I would swap/sell my 6 yr old car with/to her , as she doesn’t need a new car these days. She would benefit from the swap by getting my newer car ultimately, and I would drive the brand new one. Of course we’d have to work out the finances between us. But does this fit with the terms and conditions?

Insurance car write offs Reply Shane Teskey March 2, 2010 at 2:18 pm #

Hi Mary,

Thanks for your comment. Short answer is yes. If your friends car qualifies for scrappage there’s nothing to stop her purchasing the new car and selling it on to you afterwards.

Shadle insurance paso robles car Reply sara March 2, 2010 at 9:26 pm #

Hello
I wonder can you shed any light. I have been insured on my partners 99 Clio for 3 years. He transferred it to my name last August so I could build up my own insurance history.
He owned and was insured on the car from 1999 to August 2009. Is there any way either of us would qualify for the scrappage scheme? I so badly want to avail of it.
Many Thanks
Sara

Royal sundaram car insurance proposal form Reply Shane Teskey March 3, 2010 at 6:49 pm #

Hi Sarah,

If the ownership of the car was transferred to your name last August you’re going to have to wait until 18 months have elapsed before it qualifies for scrappage. Hope this helps!

1000 a month car insurance Reply helen March 3, 2010 at 1:02 am #

hi…I have a 97 fiesta which has been registered in my name for 2 weeks…I have however had it for a year but had not re-registered it until now as it was a family friend who sold it to me…I have a valid nct but have not yet been insured (only learning on private ground) I have ordered a new car will I not be able to avail of the scrappage scheme???

Tamora car insurance Reply Shane Teskey March 3, 2010 at 6:44 pm #

Hi Helen, unfortunately not. Your car doesn’t qualify as it hasn’t been registered in your name for the required duration nor do you have an insurable interest in it for the required 12 months. Sorry!

Bank of america world mastercard car rental insurance Reply Shane Teskey March 4, 2010 at 2:58 pm #

New blog post about latest changes to scrappage scheme and how one ‘spouse’ can qualify on behalf of another http://www.motorcheck.ie/blog/car-dealers-to-check-marital-status-for-scrappage-discount/

Phone number tesco insurance car Reply Matt March 5, 2010 at 6:27 pm #

Hi Shane,

I’ve a 98 ford fiesta that cost 700euro and was crashed. It has front damage and the garage say its going to cost over a thousand euro to repair, so i was thinking of getting rid of it by scrapping it for cash. Can I do that?

Vw modified car insurance Reply Shane Teskey March 9, 2010 at 10:04 pm #

Hi Matt,

Getting any kind of cash for scrap at the moment is difficult. You could try calling one or two of your local scrapyards and see if they’ll offer you anything. It’s more than likely that they’ll just offer to scrap the car for you without charge. If you get a couple of hundred euro for it that would be a great result.

Health insurance exchange santa maria car Reply paul March 14, 2010 at 11:46 pm #

Hi, I’m about to complete a scrappage deal this week. The car I’m scrapping has broken down in the last few days. Am I legally bound to to have the car repaired or can i have it towed to the car dealer?

Google car insurance us Reply Shane Teskey March 15, 2010 at 7:04 pm #

Hi Paul,

You can have it towed there if you like. There’s no stipulation that the car has to be running perfectly. After all – it’s going to be scrapped anyway!

Car insurance 1996 ford f 150 Reply Bob March 16, 2010 at 12:07 am #

Hi,
No problem getting eligibility for the scrapage scheme, but any ideas on what you actually have to hand over when it comes to scrapage day? I gather it doesn’t even have to be drivable. Does it need to have a steering wheel, mirrors, spare tyre, any tyres at all? Bodywork??

Bisiluro car insurance Reply Shane Teskey March 25, 2010 at 5:13 pm #

Hi Bob,

Thanks for your question. The legislation in this area is a little unclear. From speaking with one of the Authorised Treatment Facilities (ATF) the advice is that the car must be ‘complete’. I would take this to mean that all the necessary parts should be intact with nothing obvious missing. Had you something in mind?

High risk drivers car insurance Reply Michael March 17, 2010 at 7:56 pm #

Hi,

Ive a 00 renualt megane since 01 but it has been off the road since june08 because I was not using it. I now have the car back on the road from this month because I need it for work but I have been told that I dont qualify for the scrappage scheme as the car was not insured for the past year even though its my car since 01.

Car hire excess insurance mondial travel Reply Shane Teskey March 25, 2010 at 5:08 pm #

That’s right Michael. The car has to have been insured by you or your spouse for 12 of the previous 18 months.

Zero depreciation car insurance icici lombard Reply Jenny March 22, 2010 at 1:43 pm #

Hi Shane,
I have a Toyata Yaris 1999 which i bought in Aug 2008. It’s been insured in my name and has the NCT also so I should be okay for the scrappage scheme. My question is if I buy a new car under the scrappage scheme how long before i can sell/transfer ownership of the car. The plan is that I buy a new car which would be registed in my name bought by my funds and then transfer ownership of it to my father, who in turn will transfer ownership of his 2005 Yaris to me. I know that it’s playing the scheme a little but I’m sure others are at it too. There is no bother if we have to wait to transfer the ownership as we’ll both be insured on both cars, but it would be nice to have it sorted if possible straight away. Can’t find the answer to this anywhere.

Just wanted to say that this is a great website, thanks for the info.
Jen

Reis classic car insurance Reply Shane Teskey March 23, 2010 at 10:07 pm #

Hi Jenny,

Thanks for the compliments on the site. We aim to please!

Regarding selling your new car to your Dad. This isn’t a problem as there isn’t any stipulation on how long you need to keep the car in your name. Once you’ve bought it it’s yours to sell / give to anyone you like.

Best of luck with the new car.

Silent night mattress topper sainsbury Reply Paddy Comyn March 23, 2010 at 9:36 pm #

I am going to look into this tomorrow Veronica / Shane

Paddy

Car insurance for teenagers uk Reply Veronica March 24, 2010 at 12:44 pm #

Thanks Paddy. I hope you have more luck than I have had trying to sort out this problem. Thanks for your help and look forward to hearing from you.

Best car insurance deals singapore Reply Kate March 27, 2010 at 10:01 pm #

Hi Shane. I’m driving a car that my partner owns since October 09. It is a 1992 Vectra. It is his insurance and I’m a named driver. He has had it insured since date of registration in his name ie October 2009. It is NCT’d until 2011. Prior to that it was owned by an old man since 1992 and was insured until October 2009. What is the possibility for us using this vehicle in the scrappage scheme?

Blue 3 wheeled disabled car insurance Reply Shane Teskey March 30, 2010 at 8:13 pm #

Hi Kate, Unfortunately your car won’t be eligible for scrappage until it’s been in your partners name for 18 months. That would be March 2011 but I doubt that the scrappage scheme will still be in place then. Have you tried getting it valued under one of the manufacturers scrappage offers? There’s some great value out there at the moment.

Car insurance type malaysian Reply Shane Teskey April 1, 2010 at 2:07 pm #

Any lessons to be learned from the UK?

As the scrappage scheme comes to an end in the UK, many in the motor industry are worried sales will now fall.

However, Industry body, the SMMT is not overly concerned. “While the 2010 market is expected to dip, the recent increase in fleet and business demand is expected to soften the impact of the end of the scrappage scheme,” it said.

Read More http://www.motor-trade-insider.com/index.php/2010/03/scrappage-scheme-ends/

Source


A well-known writeup on software development stated the following:

Your “use case” should be, there’s a 22 year old college student living in the dorms. How will this software get him laid?

This frank statement hides some amazing truths inside of it, many of which relate to things far beyond software. The key principle, though, is that things that are successful are things that make it easy for people to do other things that make them happy. That’s why college students are notoriously bad at personal finance: it’s not easy and it doesn’t make them happy. Personal finance is often about the long term, and in the sheltered environment of college, the farthest goal in the future is getting a job in a few years – anything beyond that is pretty hazy for almost everyone.

So how can personal finance ever reach out to college students? The only way that personal finance management works in the life of an average college student is if it’s easy and if it brings either some happiness right now or a lot of happiness in the future.

Most lists for saving money in college that cover things like getting only the best loans and how to “optimize” your FAFSA fly right over the heads of most college students – I’m not ashamed to admit that I ignored them completely. These lists must have been written by people who have forgotten what college was actually like.

Given that, here are ten positive personal finance steps that any college student can take that meet all of these criteria: they’re realistic, easy, and they bring happiness both now and later.

Ten Tips for Personal Finance Success in College

1. Get some free money.

Take your semester stipend and put it in an ING savings account. It will take about ten minutes, and if you ask me for a referral code, ING will give you $25. It will earn 4.5% APY interest, which means if you put $2,000 in there now and withdraw it in two months, you’ll get $14.71. The longer you put your stipend in there and the more you have, the more cash you get for nothing. Whenever you need cash to pay the university, you can just click your mouse a few times and get the cash out.

2. Make it automatic.

When you’ve got that ING account, set it up so that it withdraws a few bucks every week from your checking account. The money will be automatically saved for you, a little bit at a time; you don’t have to worry about it or even think about it. Even if you can just swing a buck a day, you’ll wind up with about $400 at year’s end; check out the George Washington plan for more details.

3. Look for cheaper entertainment.

I used to sit in the dorm and play video games all the time and I’d buy a new one about every two weeks. Why spend so much cash when I could have just found a video gaming club on my college campus? It turns out that there was one, with lots of meetups, rooms full of consoles on weekends, and lots of game swapping going on. Look at the list of all of the student organizations on your campus. At most large colleges, there’s one to meet almost every interest; if you’re at a smaller school, get one started: just print up a flyer, hang it up in a few places, and get the ball rolling. You can keep doing whatever you enjoy doing, except you’ll meet new people who like the same stuff and it’s cheaper because you might not have to invest nearly as much in it. Even better: look for interesting free stuff you might not have done otherwise.

4. Don’t get any credit cards.

There’s no good reason to have a credit card in college; just be lazy and don’t fill out the application. If you don’t have the cash, wait a few weeks. I spent five years after graduation dealing with the credit card debt I racked up in college buying stupid stuff; don’t let the same thing happen to you.

5. Eat in the cafeteria.

Eat as many meals as possible in the cafeteria; unless something very weird is going on at your school, it’s much cheaper in the long run than even making your own food, let alone eating out. It might not be gourmet, but it can be incredibly cheap and (reasonably) nutritious, so don’t pass it up.

6. Look for free stuff.

When I was in college, especially in the dorms, I used to get tons of freebies from people looking for my business. If you hear about giveaways on campus, go get some. The same thing goes for on-campus clubs; the biggest thing I regret now is not going to club meetings when they had free food; not only would it have saved on the chow, but I could have met some new people, too.

7. Empty out your pockets at the end of each day.

At the end of the day, dump out the change in your pockets and put it in a jar. Keep building that jar up, then go deposit it in a bank at the end of the semester. I used to keep change on hand for pop – in other words, I’d just waste it. I wish now I had put it in a change jar and cashed it in once in a while.

8. When you go buy something, ask around and see where it’s cheapest.

I used to be a music addict, and for the first year I was in college, I just shopped at the local Sam Goody’s. When a friend finally informed me about a local music shop, we went there and it was about $7 cheaper per CD. I never browsed at Sam Goody’s again, and actually wound up hanging out a fair amount at the local music shop. I also eventually started buying some clothes at Goodwill, once I got over a mental block about how it was for poor people. I was in college; I was poor. This general concept is usually true for about anything; just ask people who have been around for a while where the cheapest places are to buy stuff.

9. Get an interesting job.

Go to the general office for your major and ask if there are any jobs available for undergraduates. If you’re in the sciences, there’s almost always something available; in most other majors, there’s at least a chance of it. Get that job and find out if the things happening there excite you and also earn a little cash. You’ll probably quickly figure out if you’re in the right area with your studies, plus you’ll have some more money on the side and a job that doesn’t sound like you’re a loser when you’re talking to the opposite sex.

10. Keep yourself up.

Take a shower every day. Wear some deodorant. Shave. The cleaner you are, the better you’ll feel about yourself, and the less likely you’ll be to spend money on stuff that you don’t need.

One last thing: if it makes you feel good, do it. This might be a shocking finisher to a list of personal finance tips, but you’re in college, and now is the time to experiment. You’re going to do stupid things you’ll regret later and you’re going to do some great things you’ll never forget. Just keep an eye on the debt you’re going to have to deal with after college; your future self will thank you even more than you can imagine for keeping that debt low.

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    Car insurance myths

    Compare insurance costs for different new cars

    Sort out the car insurance facts from the fiction with our guide to the myths and realities of cover on the road.

    See also:

    • FAQs on car insurance
    • Beginners' guide to car insurance
    • Cut the cost of cover

    If you have queries about your car insurance, there's often an expert on hand to tell you all you need to know.

    The problem is that the 'expert' is usually a chap propping up the bar in your local and he's talking a lot of nonsense very loudly.

    Car insurance - along with speed cameras and the price of fuel - is one of those subjects that everyone has an opinion on.

    But this can lead to misconception and downright confusion, which doesn't help when you're trying to work out which policy is right for you!

    Here Gocompare.com looks at some of the most common beliefs about car insurance and shows you which are true and which are false, helping you better understand your policy.

    1. I'm covered third party to drive any car so long as I have my own fully comprehensive policy

    Maybe. Many motorists believe that they can hop in a friend's car and drive it so long as they have their own fully comprehensive policy. This is true with some policies but not all, so, if you want to drive someone else's vehicle, check with your insurer first and try our article on cover to drive other cars.Anha self insured fund d b a car

    2. Third party policies are always the cheapest option

    False. Drivers are often surprised to find out that a fully comprehensive policy can be as cheap - and sometimes cheaper - than third party only or third party, fire and theft.

    All sorts of factors are taken into account when you get car insurance quotes, including your age, occupation and the area in which you live.

    Using a good price comparison tool will help you see the available options.

    3. It's cheaper to stay with my existing car insurer as I'll get a loyalty discount

    False. Unfortunately, you don't always get rewarded for sticking with the same insurance firm. In fact, auto-renewal of insurance is one of the big consumer cash wasters and significant savings can be made by shopping around and comparing deals.

    Gocompare.com doesn't charge customers for using its service and we don't add fees or commission to the quotes you compare

    If you get a lower quote elsewhere but do want to stay with your existing insurer, contact them to see if they can match your lowest quote. They might be keen to retain your custom - it's always worth a try!

    4. It's always cheaper to contact the insurer direct

    False. It's often thought that you can save a few pounds by cutting out the middle man ie the broker or comparison website. But it doesn't often work like this as insurers factor their own costs of advertising and attracting customers into the prices they charge.

    Remember that Gocompare.com doesn't charge customers for using its service and we don't add fees or commission to the quotes you compare. Instead, we charge the insurer after the sale is made, a sum we equate with their own advertising costs.

    5. I could get into trouble if I pretend my mum is the main driver and I'm named on her policy

    True. This is a temptingly common way for younger motorists to try to beat high insurance premiums, but it's also fraud.The insurance institute for highway safety car seats

    Known as fronting, naming a lower-risk driver as the main user on the policy when the actual main driver falls into a higher-risk category can land both parties with a criminal conviction, and even a spell in jail.

    Honesty is very much the best policy. Look into ways of reducing your premiums as the main driver, such as considering telematics or adding a more experienced motorist as a second driver (it's perfectly legal to do it this way around).

    6. I've received a speeding ticket so my premiums will go up

    Maybe. An initial three points for a minor speeding offence will not necessarily bump up your premiums. What might have more of an effect is how fast you were driving above the speed limit, or if you notch up more than one offence.

    The important thing is to be honest with the insurance provider. Not telling them about points on your licence for an offence might invalidate your policy if you later need to make a claim.

    7. Older cars are cheaper to insure

    Sometimes. Older cars can be cheaper because their value tends to be lower. But older cars can also be easier to break into, without the sophisticated alarms and mobilisers fitted to newer vehicles.

    Also, depending on the exact age and model, your motor might be classed as a classic car. These can be cheaper to insure because classic cars tend to have low mileage and be extremely well maintained. Some insurers also offer discounts to members of approved classic car clubs.

    There are different levels of business insurance, from travelling between business sites to selling light goods such as flowers door-to-door

    All vehicles are ranked by the Association of British Insurers in 50 categories depending on a number of factors, such as their price, top speed, the cost of replacement parts and security.

    You can find out which car insurance category your vehicle falls into with our handy tool.

    8. Insuring my car for business use will cost more

    True. Business use insurance does tend to cost more due to the perceived risks associated with the vehicle being driven more frequently or in heavier rush-hour traffic.

    However, as always it does depend on your own circumstances and factors such as whether you travel with a lot of expensive equipment or stock. There are different levels of business insurance, from travelling between business sites to selling light goods such as flowers door-to-door.

    As always, make sure you tell your insurer what you are using your car for. Not owning up to business use in order to save a few pounds could prove a false economy if you are involved in a road accident and your insurer refuses to pay out. Read more about insuring your car for work use.

    9. My insurance policy is invalid if I drink and drive

    It depends. A drink driving conviction could well invalidate any claim you try to make for injury to yourself or damage to your own car or property.

    THINK! Drug drive paranoia

    Some insurers will not pay out if you are under the influence of drink or drugs - read more in our article on drug driving.

    This means that your insurance could be invalid after one drink even if you are well within the legal limit.

    The law allows drivers to drink a certain amount of alcohol before driving; the problem is that this amount varies from person to person depending on factors such as weight and alcohol tolerance.

    Insurance companies do remain obliged under the Road Traffic Act to meet the costs of any claim by a third party for injury or damage.

    So the fact that you were drink driving will not invalidate claims made by anyone injured as a result.

    But the insurers are entitled to claim these costs back from you. In reality, this does not frequently happen, but in some cases motorists have been billed for thousands of pounds that their insurance company had paid out to a third party.

    10. I won't be able to get insurance if I have a driving conviction

    False. Some insurers will still be prepared to insure you following a conviction for an offence such as drink driving, and some companies even specialise in high-risk drivers. But your premiums could be sky high! Read more about driving convictions and car insurance.

    So there you have it. Hopefully our guide has cleared up the facts from the fiction more effectively than that chap in the pub could do.

    But we can't cover everything here, so try our extensive car insurance guides, always make time to read your policy documents thoroughly and get in touch with your insurer if you still need to clarify anything.

    By Rebecca Lees

     

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