Many drivers look for an efficient way to save to buy a car or cover the on-going costs of owning one. Take a look at all the savings options to help you afford the freedom a car can provide.
VIEW ALL ACCOUNTS >Creating a plan to buy a car could help you to make the right decisions when deciding how best to save.
Think about:
1. How much do I have to save to buy the car I want?
2. How much can I afford to save and how often?
3. Do I lock my money away or do I need access to it fairly quickly?
Post Office Money® ISAs are provided by OneFamily. Savings in Post Office Money cash ISAs are deposited with Bank of Ireland UK. All other Post Office Money savings accounts are provided by Bank of Ireland UK.
Think about what is practical for you and the amount you’re likely to be able to afford for a car. Also consider the costs of insurance, vehicle tax and any parking arrangements you’ll need to pay for as part of the overall budget.
You might want to move money around to make the most of interest rates or withdraw some to pay for bills or make a purchase. If so, you'll need an account that gives you access to your money.
When saving up to buy a car you might want to consider a fixed term savings account in order to earn as much interest as you can. This could take away the temptation of withdrawing your money before you’ve reached the end of the term and increase the likelihood of hitting your target.
Look for fixed rates of interest from ISAs and Bonds for a defined period of time (term).
Whatever your savings targets and how you choose to save, look at all of your options before deciding on which options are right for you. If you’re in any doubt you might want to seek the advice of an Independent Financial Advisor.
Not quite right? Compare all our savings accounts on one helpful page.
For ISA queries:
0800 169 7500
9:00am - 7:00pm, Mon - Fri
9:00am - 1:00pm, Sat
Closed Sun and Bank Holidays
All other savings accounts:
0800 169 7500
8:00am - 10:00pm, Mon - Fri
8:00am - 6:00pm, Sat
10:00am - 5:00pm Sun and Bank Holidays
