It’s never been too difficult these days to be a newly-qualified young driver as there are already some alternative to the expensive cars fitted for you as a beginner. Even if there’s the high rocketing of fuel prices, hefty running costs, tax and of course, higher car insurance premiums.
With this in your mind, it’s truly imperative for you to do a research before buying a car. Other vital considerations before deciding to buy a car are as follows: (1.) the fuel economy (2.) road tax grouping (3.) car’s insurance group.
A study showed the total annual and monthly running costs of the top 10 cheapest vehicles for young drivers. It has found out that the number one in the list of the cheapest new cars for young motorists is “Seat Mii” based on its monthly expenditure. It only has the average monthly bill of £346.63 which is very affordable for a young motorist.
This amount already covers the monthly car insurance premiums, purchase repayment, road tax and fuel. The Mii, then becomes highly recommended after it has beaten off some tough competitors to win the title as the “2012 MoneySupermarket Car of the Year.”
But what if a young driver prefers two-wheeled rather than four-wheeled vehicle? You could definitely get a better deal financially by owning a motorbike because its monthly cost is significantly less which is favourable for young drivers. The study also found out that a Honda CBR would only cost £ 224.10 per month for the average 18-year-old driver.
The top 10 cheapest cars for young drivers:
(1.) Seat Mii – cash Price: £ 8,995. Its monthly purchase fee is £ 79 with free insurance. It has £ 903.43 cost of fuel every year.
(2.) Ford KA – cash price: £7,975. Its monthly purchase fee is £ 79 with free insurance. It’s annual fuel cost is £ 982.67.
(3.) Hyundai i10 – cash price: £ 6,995. Its monthly purchase fee is £ 99 with five-year warranty. It has £ 836 cost of fuel every year.
(4.) Peugeot 107 – cash price: £ 7,195. Its monthly purchase fee is £ 149. It’s annual fuel cost is £ 836.
(5.) Toyota iQ – cash price: £ 10,995. Its monthly purchase fee is £ 139 with five-year warranty. It’s annual fuel cost is £ 875.19
(6.) Ford Fiesta – cash price: £ 9,695. Its monthly purchase fee is £ 109. It’s annual fuel cost is £ 1,143.11.
(7.) Vauxhall CORSA – cash price: £ 9,495. Its monthly purchase fee is £ 149. It’s annual fuel cost is £ 1,018.41.
(8.) Volkswagen Polo – cash price: £ 10,650. Its monthly purchase fee is £ 145. It’s annual fuel cost is £ 1,098.28.
(9.) RENAULT twingo – cash price: £ 10,550. Its monthly purchase fee is £ 149. It’s annual fuel cost is £ 1,018.41.(10.) RENAULT clio – cash price: £ 11,995. Its monthly purchase fee is £ 179. It’s annual fuel cost is £ 1,098.28.
The study showed a difference in annual running cost of £ 3,200 for the top ten cars on the list. Therefore, car choice has a significant impact on annual running costs for young drivers.
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