What’s the best car for your budget?
The car you drive can have a big impact on your insurance, with some models offering lower premiums. Young drivers could save over £416 by choosing a different car to some of the most popular models on the market. The average premium of the top ten cheapest cars to insure stands at £864, compared to an average of £1,284 for the top ten most popular cars. However, you will need to have more money saved upfront as the savings in insurance tend to be offset by the cost of the car itself.
The average cost of the most popular cars stands at £4,040 compared to an average of £6,506 for the cheapest car to insure for 17-24-year-olds. The Fiat 500X is now the cheapest car to insure, costing an average of £814 per year for a young driver, but with an average value of £10,110. The regular Fiat 500 is significantly more expensive to insure, at an average of £892, but with a considerably lower average value of £4,944. Meanwhile The Vauxhall Corsa retains the top spot as the most popular car for young drivers, accounting for 12.24% of enquiries and costing an average of £3,050.