Parents in the South-East are struggling with the spiralling costs to get their children on the road driving, according to new research.
A survey of 1,000 parents carried out by car website NFDA Trusted Dealers found that parents are struggling as insurance prices for young drivers have increased by 13 per cent on last year.
Figures from the region show more than half of parents in the South-East (53.6%) have installed a company ‘black box’ or dashboard camera in an effort to reduce their child’s insurance costs.
One in five (19.8%) have also agreed to a high excess to reduce costs, while more than 40 per cent of parents in the area (42.3%) have put their names on their child’s insurance policy to lower payments.
Learning to drive now costs the average new driver around £7,000, with insurance and the cost of a car making up the majority of the total and the Bank of Mum and Dad are picking up much of the cost for young motorists, with almost than three-quarters of parents in the South-East (73.5%) saying they paid for their child’s driving lessons.
One third of parents (33%) also helped their child with a deposit for a car and more than half (52.3%) of parents in the region revealed they pay out for regular maintenance checks, car accessories and cleaning.
In addition to helping out with the cost of insuring and maintaining a car, more than three-quarters of parents in the South-East (80%) also help their children buy their first car, with one in five parents (18%) prepared to cough up to buy their child a brand new motor.
Neil Addley, Managing Director of NFDA Trusted Dealers, said: “The survey findings show that each year the costs associated with learning to drive rises, putting a strain not only on learners, but also on the Bank of Mum and Dad. Increasing prices means there is often a temptation to scrimp on some things, such as the quality of the car, but this can lead to high running costs, leaving you out of pocket in the long term.
“Trusted Dealers is committed to helping young motorists get on the road and all our listings are competitively priced and adhere to a unique set of standards, our 10 Points of Difference. These safeguards ensure that you get the best quality used vehicle for your kids, at a good price.”
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