Can A Teenager Afford A New & Safe Car?
Having passed your driving test is a great feeling and an achievement to be proud of. Unfortunately, then comes the expense! Buying a car is one thing but the cost of young drivers insurance these days is exorbitant.
As a result of this, young people try and save money by buying an older cheaper car. The problem here is that these cars, apart from being less reliable, are not as safe as a modern cars and often lack safety features such as Anti Lock Brakes, high NCAP safety ratings, Airbags etc. Also, modern cars are more fuel efficient and this alone will drain your wallet.
To try and reduce costs and in the absence of cheap car insurance for young drivers, parents will sometimes insure the car using their own no-claims bonus. You are under an obligation to inform the insurance company of the identity of the main driver when you insure a car, it is wrong to assume that because you own the car it is acceptable not to tell the insurance company of the real details. Read more at Young Drivers Insurance.
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