Insurance for young drivers could be cheaper for newer cars, reveals moneysupermarket.com

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Insurance for young drivers could be cheaper for newer cars, reveals moneysupermarket.com

A new Ford Fiesta could be cheaper to insure than one made five or ten years ago, according to a spokesperson from moneysupermarket.com.

Head of car insurance at the organisation Steve Sweeney noted that people considering whether to purchase a new car may factor in how much cover will cost them.

However, rather than being pricier, a new car can often cut the cost of the premium, explained Mr Sweeney.

"It's a common belief a new car will be more expensive to insure than an older model, but our research reveals there are some occasions where this is not the case," he noted.

According to moneysupermarket.com, a 35-year-old could pay up to 20 per cent less if he traded in a Ford Fiesta made in 2000 for a brand new one from 2010.

Last month, the price comparison site stated motorists may be wasting an average of £233 by not shopping around for a car insurance policy and simply allowing their current provider to auto-renew.

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