Monday, 2 February 2015

Cost of becoming a new driver is now £6,500 with first year's insurance often costing more than the car itself . . .

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Cost of becoming a new driver is now £6,500 with first year's insurance often costing more than the car itself 

Cited at:
http://www.dailymail.co.uk/news/article-2905040/Cost-new-driver-6500-year-s-insurance-costing-car-itself.html

  • Cost of becoming a new driver has soared by almost fifth in past five years
  • Average cost of young driver's first car is £3,825, survey revealed
  • Insurance priced at £2,232 and typical learner needs £480 of lessons 

Many youngsters dream of getting behind the wheel of their own car. But the cost of ditching the L-plates is now an eye-watering £6,537, according to research into the habits of Britain's young motorists.

According to price comparison website Gocompare.com, the cost of becoming a new driver has soared by almost a fifth in the past five years.

A survey of 2,000 parents found the average cost of a young driver's first car is £3,825, with insurance priced at £2,232.


Expensive: A survey of 2,000 parents found the average cost of a young driver's first car is £3,825

The typical learner also needs £480 of driving lessons.

About 30 per cent of parents help with the cost of car insurance for their children.

Matt Oliver, car insurance spokesman for Gocompare.com, said: 'The cost of becoming a new driver can quickly mount up.

'Although we found the average amount spent on a first car is now £3,825, many 17-year-old drivers will find their first year's car insurance premium costs more than the car itself.

'At an average annual premium of £2,232.00, there is no getting away from the fact that insurance for young drivers is costly.


Adding up: The typical learner also needs £480 of driving lessons. Above, file image

'However, the average cheapest premium for a 17-year-old driver has fallen in the last five years. 

'Some insurers will charge young and inexperienced drivers more than others, so young drivers must compare quotes to ensure they get the best deals.'

Experts say young drivers can lower their insurance premiums by increasing their excess, driving a vehicle with a smaller engine size, and by having an adult as a named driver on policies.







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