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Friday 18 October 2019
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Youngsters Take Issue with High Cost of Car Ownership

Youngsters Take Issue with High Cost of Car Ownership

A new report has revealed that a third of people in the UK aged between 17 and 25 find it difficult to learn to drive and run a car because of the cost involved, according to gocompare.com.

This may not be a surprising statistic for anyone who attempted to pass their test at an early age, because most people require parental support to pay for lessons and insurance and actually buying a vehicle to use. But in recent years these costs have increased significantly, making it much harder for teenagers and young adults to gain the independence that car ownership provides.

Compromises

32 per cent of respondents to the study said that they mostly use public transport because this is a cheaper alternative to car ownership, while just over a fifth of those who do not currently have a car available to them said that they feel as if they are seriously limited in their social and professional lives as a result.

Youngsters who do manage to secure a driving licence and a vehicle will need to pay an average of over £1800 annually to cover insurance and running costs, with 80 per cent of those questioned saying that they spend almost a third of their earnings on these expenses.

Positive spin

There is a silver lining in this dark cloud of bad news for young drivers, because insurance premiums are being reduced thanks to the use of black box technology. It monitors driving habits and rewards those who are well behaved on the roads.

And the market for second-hand vehicles is about to get a bit more affordable as new car sales rise, so buying one of theused cars Northumberland has to offer will no longer be as costly as before.

But the fact of the matter remains — learning to drive and keeping a car on the road are expensive activities for the under 25’s.