First time car buyers are paying much more attention to all of the costs associated with motoring, according to a survey recently conducted by a leading car insurance comparison website.
It’s no surprise that the research study found that more than three out of four people surveyed felt that purchasing a vehicle is one of the most expensive decisions they will make over the course of their lives. As a result, many drivers are taking steps to minimise their motoring costs by selecting smaller cars and then choosing not to make any modifications to them for reasons ranging from finding ways to reduce the impact of the cost of their annual insurance cover and keep the pain at the petrol pump at bay as much as possible.
Two out of three respondents to the survey said that taking out insurance is a massive expense when it comes to motoring, as finding discount car insurance is nearly impossible in the current marketplace – especially for younger drivers. Women between the ages of 17 and 20 years are oftentimes quoted around £1,869 for a year’s worth of comprehensive cover according to the comparison site’s data, while young men of the same age are even worse off, with an average quote of £3,635 for annual cover.
As it will routinely be more expensive to insure a vehicle with a larger, more powerful engine, nearly 70 per cent of the people surveyed by the survey said that their first car was chosen with an eye to minimising this cost by selecting a vehicle with an 1.3 litre engine or smaller. Not only does this make insuring the car less expensive, smaller engines are much more fuel efficient, resulting in less money spent filling up – and with the price of petrol creeping ever upward, finding savings wherever you can is extremely important.