Buying a used car for your grown-up child

When your child first passes their driving test, they will no doubt be eager to own their own car. It may be that, as parents, you are in a financial position that enables you to buy the first car for them but usually this will have to be a used car. The physical size of the car, engine size and fuel type will all need to be taken into consideration.

It is important firstly to think about what the car will be used for. If it is only used on short local journeys a smaller car will probably be sufficient but if the car is going to be used for longer motorway journeys a more reliable, fuel efficient model will be more suitable.

The cost of insuring a young persons’ car is a significant outlay and so a car with a smaller engine may mean that savings can be made. A tracker can be fitted to the car by a representative from the insurance company which measures the mileage covered, speed the car is driven at and the time of day journeys are undertaken. This feature can result in a reduced insurance premium for the driver and peace of mind for the parent too.