Practical Tips to Help You Save Your Teenager Money On Their First Car
Car ownership is an expensive undertaking, and young drivers often find themselves paying out a lot of money not only for their vehicle itself but also the associated costs that go with it.
As such, many parents seek to help their teenagers and ensure that they enjoy the freedom of their own wheels without having to pay through the nose. If you want to help your teenager to save money on their first car then here are some of our top tips.
Compare Car Insurance Prices Before You Select A Vehicle
Younger drivers will inevitably pay more for their car insurance, but in addition to their age insurance providers will take into consideration the make and model of the car they’re insuring when calculating premiums.
With that in mind, it makes sense to compare car insurance prices for different makes and models before you even sign on the dotted line to buy a vehicle. Fortunately, this is very easy to do if you use a car insurance comparison site like this one, which will allow you to compare quotes for different cars even if you don’t know their reg numbers.
Consider Sharing a Car With Them
If you find that you’ve got a family vehicle that doesn’t get used very much or a family member who doesn’t drive a lot, then you could encourage your teenager to share their car with them to save on costs. This might not be as convenient as getting them their own car, but it will save them money on the vehicle and can also result in cheaper car insurance.
Shop For a Used Car
New cars can be very expensive, so try to find a second-hand vehicle that’ll give your teenager the same exceptional quality at a reduced price. It’s important that you review the miles on the car and work hard to check the seller’s credentials before you commit so that your child can enjoy the use of their used car for many years to come.
Put Them on Any Family Plans You May Have
Some payments, like breakdown cover, maintenance plans and even car insurance can be spread across multiple members of your family, so review your plan and see if you can add your teenager to it to save you all money.
Review Cars in Lower Tax Bands
In the UK car tax is charged according to the number of emissions your vehicle emits, so try to find your child a car that’s in a lower tax band, or even tax-free. These cars don’t emit as many emissions and are often more fuel-efficient as well. Selecting one of these vehicles will save them money and allow them to drive a car that won’t pollute the environment as much.
In all, it’s important that you take the time to research every aspect of your child’s new car so that you can really help them to save money whilst still giving them the chance to own their own car and travel wherever they want to, whenever they wish. Use these tips to help and you should be able to get them the best deal on every aspect of their first car.