Car Insurance Comparison Just One Way Parents Can Help Young Drivers Learn

Parents of young drivers have many things to consider, such as making sure their children are aware of road safety and financial considerations like car insurance comparison. Parents of young drivers have many things to consider, such as making sure their children are aware of road safety and financial considerations like car insurance comparison. However, another thing they can help young drivers with is learning the personal financial skills necessary to help pay for and maintain a vehicle. According to a recent survey by Capital One Auto Finance, 64 percent of parents have not discussed auto financing options with their children, and 52 percent of them have not discussed how to budget for car expenses. "Buying a car is not an intuitive process and it can be intimidating for first time purchasers, especially in such a challenging economic environment," said Sanjiv Yajnik, of Capital One Auto Finance. The survey also finds that 67 percent of young adults are planning to buy used vehicles, and 44 percent of them are planning to pay for them in cash. This is up from 29 percent in 2008, when credit conditions were still loose enough to allow more people access to financing. When it comes to helping a new driver get set up with what can be their first major purchase, car insurance comparison is just one of many things parents are advised to consider. For more about auto insurance that covers the entire family, visit InsureMe.com today.

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