The cost of operating a car for young drivers rose by an average of £385 in the last year, according to Comparethemarket’s the latest research from Young Drivers. The analysis added that the large increase has been mainly driven by higher fuel and insurance costs.
This means that on average a motorist between the ages of 17 and 24 will now pay £2448 to operate a car for a year.
There is also concern that driving is becoming increasingly unaffordable for many young people, according to research that looked at the cost of insurance, fuel and road tax.
The typical annual cost of fuel for a young motorist has increased by £244 in 12 months, from £748 to £992.
Auto insurance is responsible for half of overall operating costs for young drivers, who typically pay more for auto insurance compared to other age groups.
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Julie Daniels, auto insurance expert at Comparethemarket, said: “The rising cost of operating a car, among other skyrocketing household bills, means many young drivers may find it difficult to stay on the road and may affect their ability to work or drive. see friends and family. .
“It’s even more challenging once you factor in other costs such as parking fees, breakdown coverage and car maintenance.
“With the cost of car insurance for young people rising by nearly £150 last year, it’s more important than ever to shop around and compare policies to see if a better deal is available.
“Switching to a telematics policy may be a good option for some young motorists.
“A quick and easy way to find a great deal before your renewal is to sign up for Comparethemarket’s automated car insurance renewal quotes, which will automatically notify you that your policy is about to end and highlight available offers.”
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