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Hit the road ... for a price

Driving lessons, driving tests, road tax, insurance … it all adds up to a tidy sum for first-time drivers – not to mention the price of your first car.

Research by Co-operative insurance found that the typical 18-year-old has a Vauxhall Corsa, worth £1450, and will need to pay insurance of £2,294. Before forking out all that, there's the cost of twenty driving lessons (£480), an average of two driving tests at £62 each, £111 for a provisional licence, theory test and road tax.

Yet despite these high costs, the study found that young motorists typically own their first set of wheels at a much younger age – at 18 years old, which is four years earlier than their parents.

Grant Mitchell, head of motor insurance at Co-operative Insurance, said: 'Our research shows that although today’s young drivers own their first car from an earlier age than their parents’ generation, the cost of actually getting on the road is huge.

'Of course, not many 18-year-olds have thousands of pounds in savings, so increasingly they are relying on the Bank of Mum and Dad to pay for the initial cost of driving.

'Unfortunately, the biggest challenge is the cost of car insurance which has risen at a disproportionate rate for young drivers because they are involved in more accidents on the roads.'

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