The True Price of Your First Car
The true price of your first car in 2019 has been revealed in a recent survey. Learning to drive is an exciting time and passing your driving test means that you have earnt your driving freedom. Passing also opens up the car buying process for the first time and knowing how much to spend can be tricky.
When you first passed your test you may well have fond memories of your first car. Memorable trips away with friends or just getting around the quirks of a broken window or dodgy gearbox. As cars get increasingly complex and as finance usage rises, it appears the days of the banger are coming to a close.
Recent research suggests that £3400 is now the average spend on a first car and the age of these vehicles is on the decrease. The rise in the average value suggests that buyers could be potentially putting more premium brands further up their wish lists.
The research carried out by Parkers, also indicates the young drivers also lean on their parents for financial support with one in six parents buying their child's car for them.
The rise in payment plans such as PCP has helped to lower the overall age of young driver vehicles on the road. Whilst the report states that 80% of cars purchased by first-time buyers are used cars, new cars are becoming increasingly attractive thanks to low monthly payments. A newer car is also potentially safer and arguably, easier to maintain.
The first time buyer market in the UK is substantial with 414,000 under 21-year-olds passing their driving test over the last year alone.
At Big Motoring World we have a range of used cars that would be ideal for the first time buyer. Whatever your requirement or budget, at Big Motoring World we are bound to have a car for you. To view all of our current used cars, please take a moment to visit the main Big Motoring World Group website, here.