Long Suffering Parents Lose Out To Young Drivers

Young motorists are opting to borrow their parents vehicles rather than splash out on the cost of their own, says a motor insurance survey.

More than one in ten (13 per cent) motorists in their late twenties admits that they are still using their parents' vehicles. As more and more of our young people are staying at home longer and longer, as they cannot afford their own houses, it makes sense that they should borrow a parents car to get around.

With average costs of £250 every month, or £3,000 every year, it may be unsurprising that young drivers opt to use their parents vehicle for the first year they have a licence.

This figure only includes running costs such as motor insurance, petrol and road tax and not the cost of the car in the first place. The initial outlay of buying a car is the biggest expense some young people have ever had to face and it may put them off owning their own car until they are working and can pay for it themselves.

One answer may be the right motor insurance policies, such as one which will factor in an older drivers no-claims bonus into the premium calculation for a new driver.

"Young drivers are the most likely to have an accident and subsequently are the hardest hit with high car insurance premiums," said a motor insurance spokesperson.

"However a lot of the UK's young motorists have been driving their parents' cars for years but aren't able to reap the benefit of that experience."

Another way to cut costs on motoring is to share a car. Buy a good vehicle and share the cost with a friend or your parents. This can help with insurance costs as well as the price of the vehicle.

If you would like to know more about driving why not ask AnswerBank Motoring.