Tescocompare.com: Parents keep paying for children to drive
www.moneynews.co.uk > Loans > Tescocompare.com: Parents keep paying for children to drive
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Tescocompare.com: Parents keep paying for children to drive
Thu 26th Mar 2009
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The survey revealed that 35 per cent of new drivers today receive their first car as a gift from their parents.
Those who aren't quite as lucky still benefit from parental generosity, with one in eight receiving an interest free loan from the Bank of Mum and Dad to pay for their first car.
Parents continue to support their children even after they have given them the first car, according to the poll, with 68 per cent claiming they have not reduced their child's allowance and six per cent claiming they actually increased the level of financial support.
Tescocompare.com added: "Today's young drivers not only own cars earlier, they own more expensive models and have ambitions to upgrade to their second car faster."
Recently, the AA issued a warning to inexperienced drivers to watch out for motorcyclists, many of whom will be returning to the roads as the warmer weather approaches.
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