Young drivers paying high price for first car
First-car buyers are being hit by a sharp rise in the cost of used cars.
Can you remember how much you paid for your first car?
Does $9,000 sound familiar? We didn’t think so!
But that’s the average price young drivers spent on their first car in 2022, according to RACQ’s annual Young Drivers Survey,
The survey quizzed motorists aged 16 to 24 and found the price tag of first cars rose significantly last year, compared with $7,129 in 2021 and just over $6,000 in 2018.
RACQ’s Manager Road Safety and Technical Joel Tucker said the research revealed while young drivers were having to fork out more for their first car, they were also forced to choose older models.
“In 2022, the average age of a first car was 13.7 years old, compared with 11.2 years in 2021 and 10 years old in 2020,” Mr Tucker explained.
“With cars getting more expensive, our research also showed the number of young people buying a first car themselves went down last year, from 66% in 2021 to 60% in 2022.
“Not only are more parents helping their kids buy a car, but they’re also lending their cars to their children for extended periods of time.
“The number of P1 and P2 drivers primarily driving a parent’s car went up last year to almost 50%.”
The Young Drivers Survey also found the most popular car types for P1 and P2 drivers were small and medium cars, with Toyota, Mazda, Hyundai, Ford and Holden the most popular brands.
Young drivers are also becoming savvy when it comes to filling up the tank.
“Almost half of the respondents told us they use a fuel comparison app before stopping at a petrol station,” Mr Tucker said.
“Last year we saw record high fuel prices right across the state so it’s great to see young drivers are shopping around. It will save them a significant amount of money in the long run.”
Last year only 38% of people opted for a manual car as their first ride.
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