The Money Shot - young drivers and passive-aggressive pennies

Image of very young driver
Gunther's insurance premium was off the chart
"Learning to drive and owning your own car used to be something of a rite of passage for young adults but now it seems that many are just finding it too expensive" Lee Griffin, Gocompare.com
  • | by Kristian Dando

It’s not been a vintage week for young adults in the 17-25 ‘demographic’.

First came the hammer blow of youth-orientated telly channel BBC3 moving solely to the digital domain, meaning that gold like Lily Allen and Friends, Horne & Corden and anything featuring Russell Kane may never appear on our television screens ever again.

To make matters worse, there was the revelation that a third of young adults have decided that driving is just too darned expensive.

Indeed, just obtaining a full driving licence can cost around £1,381 in driving lessons, licence and test fees alone, according to the latest bit of research from the fun-loving stats jockeys at Gocompare.com

It turns out that the whippersnappers who manage to afford to run a car spend an average of almost £2,000 a year just keeping it on the road.

The survey discovered that 22% of 17-25 year olds feel ‘trapped’ at home without a car – and that’s a situation that’s bound to be exacerbated by not having repeats of Snog, Marry Avoid to watch ad infinitum to alleviate the tedium.

Gocompare.com’s chief operating officer, Lee Griffin, pondered: “Learning to drive and owning your own car used to be something of a rite of passage for young adults but now it seems that many are just finding it too expensive. Car insurance is one of the biggest expenses for an inexperienced driver but there are ways to try to reduce the cost as you build up a safe driver record and no claims discount.”

Here's some more information on car insurance for young drivers and cutting the cost of car insurance.

Short change – money news in brief

The boss of British Gas’ parent company Centrica has ‘urged’ Britain to find new sources of energy.

Speaking of which, the situation in the Ukraine could see a big inflation in the price of gas.

The collapse of two major Bitcoin handlers has sparked a debate over whether the cryptocurrency should be regulated.

Claims management firms have got their hands on around £5bn of the compensation paid out to victims of PPI mis-selling, according to Citizens Advice Bureau.

It was the fifth anniversary of the base rate being set at a historically low 0.5%.

On Covered mag this week

The as-seen-on-telly Graham Thomas lifted the lid on the sneaky tricks used by car dealers.

In a new series documenting her experiences professional dog-walking, Rachel England reflects on the peculiarities of anthropomorphism.

The new F1 season kicks off next week - here’s why you should be looking forward to it.

Dan Bevis took on the incredible Morgan 3 Wheeler.

And finally

Top passive-aggressive behaviour was on display this week in Chippenham, when a driver paid for a £25 parking fine... In pennies.

Kenneth Lambourne, 64, placed a £1.50 receipt on the dashboard of a pay-and-display carpark before venturing out – however, the ticket was blown into the footwell when he opened his door.

He showed officials his ticket, but they refused to let him off and fined him. However, Lambourne promptly went to the bank and withdrew 13lbs of pennies to pay the busybodies.

“I did it to make a  point,” thundered Lambourne earlier this week.

Elsewhere, the council said it was a driver’s responsibility to display a ticket properly.”

Join us next week for another THRILLING installment of THE MONEY SHOT.