A recent report has revealed that the average age of people buying their first car stands at the youngest it has ever been, with some people admitting to owning a vehicle before they were aged 17 years of age, even though they were legally unable to drive it.
The findings will raise a few eyebrows, especially as we are gripped by one of the worst recessions in living memory. However, experts say this simply highlights the importance that people put on owning their own car, with traveling to work and gaining independence the key reason to buying a vehicle at an early age.
The survey showed that around 65 per cent of motorists aged between 18 and 24 years old had owned a car well before they had reached their twentieth birthday. Contrast this to just 28 per cent of drivers now aged 65 years of age or older, who had a vehicle when they were in their twenties.
One car industry specialist said, “At a time when the cost of car ownership is higher than ever, with both fuel and insurance costs rising steeply, getting a car remains a priority, especially for young men in particular. Although the number of drivers of each sex who have passed their test before they’re 20 is similar, owning a car seems to be a rite of passage for young men.”
The report proved that men do appear to be the sex that wants to own their own vehicle the most, with 50 per cent of male drivers saying they had managed to purchase a car by the time they were 20 years of age, in comparison to just 38 per cent of women.
Statistically young motorists are more likely to be involved in a road accident within their first year of driving, which is why they face larger car insurance premiums compared to more experienced drivers.
The high accident rate amongst young drivers has been credited to the fact that they are more likely to be in a position to be able to afford cars that are more powerful. Despite this, new drivers are still spending just €2,000 or less when it comes to purchasing that first car. The majority will buy second hand, with only 6 per cent buying a brand new car.
Young men are the most likely to be in a collision, with one in five being involved in an accident of some kind. This is why novice drivers in particular are urged to shop around for the best insurance deals.
Rochelle Martinez, Freelance Web Content Article Writer for three years. Some of her articles are about http://www.quinn-life.com.
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