Updated: July 07 2016 – Which are the cheapest cars to insure?
It’s never been so difficult to be a young or newly-qualified driver. There’s rocketing fuel prices, tax, hefty running costs and, of course, steep car insurance premiums.
With this in mind, it’s absolutely imperative to do your research before you buy a car. Fuel economy, road tax grouping and the car’s insurance group are vital considerations that will influence your decision.
Together with DriversEdgeUK, we’ve looked at the total monthly and annual running costs of 10 of the cheapest cars for young drivers. We’ve found that the Seat Mii is the cheapest new car when it comes to monthly expenditure, with the average 18-year-old motorist facing a monthly bill of £346.63.
This covers the monthly purchase repayment, car insurance, fuel and road tax. The Mii comes highly recommended, having beaten off tough competition to win the 2012 MoneySupermarket Car of the Year title.
But what if you prefer two wheels rather than four? You could be onto a better deal financially, as the monthly cost of owning a motorbike is significantly less than for a car for young drivers. We found that a Honda CBR would cost the average 18-year-old driver just £224.10 per month.