Many young drivers in the UK are having to cut back on their social life just to keep driving
According to a new study carried out by Admiral, many young motorists are being forced to cut back on their social life so that they can stay on the road.
Young drivers are having to cut back on their spending on so called luxuries such as festivals and nights out, as well as reducing their spending on clothes, just so they can afford to keep up with their £3,000 a year motoring bill.
Many young motorists are even having to rely on the kindness of their parents, borrowing the family car to get out and about.
The study found that over half of young drivers are having to cancel social events just to make sure they have enough money to pay for their car.
Admiral discovered motorists under the age of 25 were on average having to fork out £3,435 per year to stay on the road, with over two thirds (69%) claiming they’ve even had to put a day out shopping on hold, whilst 60% say they’ve had to cancel plans to attend a music festival just so they can keep on motoring.
Even the course of true love has had to be shelved for some, with six out of 10 young motorists claiming they’ve had to cancel a date night because they just can’t afford it.
Admirals’ findings also found that almost half of under 25s were also having to forget going on holiday and refrain from upgrading their smartphone due to the high cost of running a car.
Though many young drivers were willing to put luxuries on hold, only one in 10 said they’d stop saving up for a deposit on a house simply to stay on the road.
With such high costs for the young, many are now relying on their parents’ cars to get out and about. According to Admiral, 58,000 under 25s were now insured as temporary drivers on their motor policies, as many youngsters come back from University in the summer wanting to get about by car.
“Young drivers are so determined to stay on the road they are willing to sacrifice fashion, fun and festivals in order to keep up with the costs,” said the head of car access at Admiral, Jean-Baptiste Limare.
Just because motoring costs are high for young drivers, this shouldn’t mean they have to make such huge sacrifices, especially now the summer months are here.
According to Mr Limare, research is ‘key’ and should be from the moment you purchase your first car, to choosing your insurance provider and taking out a policy.
Following these guidelines could help the under 25s save money, which could be spent on a night out with friends.
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