In 2009, the average full-time salary for 16-17 year-olds was £9,300 and for 18-21 year-olds, £14440.
Yet according to road safety charity Institute of Advanced Motorists (IAM), it will cost young drivers £12,300 before they have even driven anywhere.
With all things considered such as lessons, driving tests, Tax and MOT and insurance (based upon IAM’s research into the Kia Picanto) a young driver is looking at over a year’s work before they even sit behind the wheel and drive. Not to mention the £4,500 for a claim.
The answer to this may seem that buying a cheaper car is the way to go. Not necessarily. With the Kia Picanto a mere £3000 is the price of the car itself, the other £9300 is insurance and other costs.
This is before fuel and maintenance is even considered.
With legislation coming in the end of 2012 which will make gender discrimination with regards to insurance illegal, young women could see their insurance rise significantly.
This increase in price may encourage young drivers to consider buying older, cheaper and possibly less safe cars, therefore endangering them on the road.
Young people may even consider not buying a car, which can then prove a disadvantage when it comes to securing a job in a rural area where car transportation is a necessity according to the IAM.
As insurance costs continue to rise in the UK, car makers are building less expensive but safer cars. For example the new Kia Picanto gained a four-star safety score in the EuroNCAP crash tests prior to its launch last month.
Priced from £7,795, the new Kia Picanto also comes with Kia’s industry-leading seven-year warranty and a selection of frugal engines to lower insurance costs.