Buying your first car is a special day in the life of a new driver.
However, for young people the financial challenge is more difficult than ever as insurers impose expensive premiums on young drivers for suspecting that their inexperience will lead to more accidents.
And new drivers trying to buy the cheapest car are often still under even greater financial pressure as the cheapest options are not always the cheapest cars to get insurance.
According to price comparison website CompareTheMarket, the average car insurance premium for drivers under the age of 24 was £ 1,095 a year in March.
However, the average premium for all drivers is almost half of £ 652.
New drivers really want to get out on the road
(Image: UNIT FOR COMMON CONTENT)
Below are the ten cheapest cars insured for the first three months of 2021, according to insurer Admiral.
Ten cheapest cars to insure
According to Admiral, the cheapest car to be insured is the Toyota Aygo at £ 641 per year, cheaper than the average premium.
It was followed by the popular Fiat 500 for £ 682 a year with the Volkswagen Up! third at £ 697 a year.
The other cheapest cars to be insured are the Citroën C1 (€ 699), Renault Clio (€ 741), Vauxhall Corsa (€ 808), Seat Ibiza (€ 824), Ford Fiesta (€ 842), Volkswagen Polo (€ 849) and Mini polo (£ 941).
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These aren’t the cheapest cars, however, with a new Toyota Aygo starting at £ 11,484.
Clare Egan, Head of Motor Product at Admiral, said, “Young drivers pay more for their insurance because, unfortunately, statistically they represent a higher risk.
“They are more at risk of accidents than older drivers and the accidents they have are more expensive.”
Ten cheapest cars to buy
On the flip side, the three cheapest new cars are the Dacia Sandero – £ 7,995, the Citroën C1 – £ 10,330 and the Mitsubishi Mirage – £ 10,575.
This is followed by the Kia Picanto (£ 10,995), Dacia Sandero Stepway (£ 10,995), Dacia Duster (£ 11,745), Fiat Panda (£ 12,025), MG 3 (£ 12,195), Toyota Aygo (£ 12,690) and Volkswagen Up! (£ 12,705).
Most young drivers can save for a new car or insurance, but not both.
Insurance costs always take into account the cost of the car, group classification, parking space, repair costs, the likelihood of a driver making a claim and what work they are doing.
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Cars that are the cheapest in both insurance and purchase are the Citroën C1, Toyota Aygo and Volkswagen Up !.
The best way to save money on vehicle purchase is by purchasing a used vehicle from independent auto sellers, private sellers on Gumtree or eBay, and auto auctions.
The best way to save money on car insurance is to have a comprehensive shop dedicated to comparing different premiums.