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Young Drivers Facing High Costs.
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Young Drivers Facing High Costs.
High costs of driving causes downward trend in young drivers getting their own wheels. 26/05/2006 - DirectLine Car Insurance It’s not just the housing market that young people are being priced out of - the car-ladder is also proving to be a struggle for Britain’s younger generation, according to Direct Line. The spiralling cost of motoring is one of the main reasons four in 10 (43 per cent) non-driving 18-25 year olds are without a licence and a quarter of drivers who have passed their test do not have their own set of wheels – with the majority of these blaming the high costs. With the cost of buying and running a car nearing £5,700* in its first year, joining the car-ladder is out of reach for many wannabe motorists, with university costs (21 per cent of those who can drive but do not own a car), debt (12 per cent) and low wages (42 per cent) as the top three unavoidable expenses preventing them from getting a car of their own.
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Notes: The research was carried out on behalf of Direct Line car insurance by YouGov Plc. A sample of 1,048 drivers between 18-25 were questioned online between 28th April to 2nd May 2006. A sample of 289 non-driving 18-25 year olds were questioned online between 5th and 8th May. Results are unweighted. YouGov is a member of the British Polling Council. *According to the YouGov findings young drivers on average spend £4,212.76 on buying their first car and spend £129.72 per month on its running costs £129.72 x 12 = £1,556.64 + £4,212.76 = £5,769.4. **According to the YouGov findings one per cent of young drivers have bought a car with friends which equates to 21,350. There are currently 4,994,229 young people between 18-25 in the UK and of these 57 per cent drive (2,846,710). 75 per cent of young drivers own a car (2,135,032) therefore 0.01 x 2,135,032 = 21,350. DirectLine Insurance - |
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