Car insurance. Young drivers priced out of the market

Never mind getting on the property ladder - two in five 18-25-year-olds haven't got a driving licence, in many cases because they can't afford to even get onto the car owning ladder.

There are many costs related to running a car, and it's all too expensive for many young people. To get a driving licence, they have to take driving lessons, which now cost around £15 per hour. Although some drivers pick it up quickly and pass first time, many go on to take a second test, and maybe a third, and so on.

Once you have your licence, you need to buy a car. Cars aren't cheap, and even second-hand cars mean expense as they are more likely to need to be repaired and fixed regularly. Then there's the road tax, and car insurance always costs more for young drivers. The average cost for buying a car and running it in the first year is a whopping £5,700 - that could be a sizeable proportion of a young person's yearly wages. < Loan Site - Personal loans, articles for uk residents < Loans site, great secured loans articles for everyone >

A quarter of young people with a driving licence don't have their own vehicle - so it's clear that there's a serious problem with young people getting their own wheels. < Mortgage site - mortgage quotes - great mortgage articles, mortgages >

It's understandable that so many young people are choosing to go with public transport for the time being . Statistics like this one from Pass Plus, mortgage quotations which offers training schemes for drivers, say that in the first year of driving one driver in five is involved in an accident - so that's even more potential expense, especially as many young drivers can only afford third party insurance.

There are other forces at work too. The general cost of being a young person such as university costs and a lack of income, debts, and low wages - all combine to make it almost impossible to afford buying a car.

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Car insurance. Young drivers priced out of the market