First car costs skyrocket for young drivers
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 - 24 and found the price tag of first cars rose significantly last year, compared to $7,129 in 2021 and just over $6,000 in 2018.
RACQ spokesperson Lauren Cooney said the research also revealed while young drivers are having to fork out more for their first car, they’re also forced to choose older models.
“In 2022, the average age of a first car was 13.7 years old, compared to 11.2 years in 2021 and 10 years old in 2020,” Ms Cooney 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 their parent’s car went up last year to almost 50%.
“If you are looking at purchasing your first car, make sure you do your research. We highly recommend only buying second-hand cars from a licensed dealer – it’s a much safer option than purchasing on the private market.”
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 sought-after 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,” Ms Cooney 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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