Parents pay £22bn to help kids drive

Parents are struggling to keep up wih the rising costs involved in helping their children learn to drive and get motoring independently, according to a new survey.

On average, the processes of taking to the open road for the first time now costs £7,000 - factoring in the costs of lessons, a car, and insurance. Parents across the country are footing much of this bill.

More than three quarters of parents (77 per cent) in Yorkshire said they paid for their child’s driving lessons, each costing £24 on average. With the Driver Standards Agency recommending 47 hours of tuition, that adds up to a potential £1,128 just to get them ready to sit their test.

On top of that, more than two thirds of Yorkshire parents (68.7 per cent) also helped their children buy their first car, with about one in five (22.8 per cent) stumping up at least part of the deposit. Almost half (48.5 per cent) of those surveyed revealed that they continued to pay out for regular maintenance, insurance, cleaning, and even accessories.

Once their offspring have passed their test and secured some wheels, the biggest cost facing the ‘Bank of Mum and Dad’ is getting kids insured. The latest figures reveal that the cost of insurance alone for young drivers has risen by 13 per cent in the last year, and for a 17-year-old now stands at £2,013 a year.

In a bid to bring these costs down many families are turning to technology. Around one third of parents (32.5 per cent) in Yorkshire have also agreed to a high excess to reduce costs, while 33 per cent have put their names on their child’s insurance policy to lower payments.

Neil Addley, managing director of NFDA Trusted Dealers, said: “The survey findings show that each year the costs associated iwth learning to drive rises, putting a strain not only on learners, but also on the ‘Bank of Mum and Dad’. Increasing prices mean there is often temptation to scrimp on some things, such as the quality of the car, but this can lead to high running costs, learving you out of pocket in the long term.

“With more and mroe parents stepping in to help their children motoring, we have developed a dedicated section on our site which is filled with tips and advice from buying your first car, to the best car for students.”