The used car market peaked in 2021, largely owing to supply issues and delays for car manufacturers during the pandemic. A car for many is the second biggest expense after purchasing a home, and the expense of maintaining a vehicle has never been as costly. It was reported this week that petrol and diesel prices in the UK have hit a record high.
Before purchasing a car
With these additional levies incurred by road users, it’s important to factor in every cost before initially purchasing a vehicle. This includes the cost of road tax, insurance and possible repair costs. According to car wow, these are some of the cheapest cars to insure in 2022.
This is the second most popular Volkswagen in the UK, after the Golf, of course. The standard Polo S and SE are in insurance groups 1-15. The Polo ranges from 40-76 mpg across the various models. There are a selection of trim levels for models from the entry-level S model to the R-line, or top-spec GTI. The 2022 revamp includes lane self-centering on standard models and the optional extras for wireless phone charging and a panoramic roof.
The standard 1-litre Up! has 64bhp, ranges from insurance group 1-17 and is described as one of the most elite in the class of city cars. The Up! has a top-end GTI version with 113bhp and manages 0-62mph in nearly half the time of the standard model at 8.8 seconds. At 54.6mpg the standard petrol Up! is highly efficient and is available in a three and five-door hatchback.
The 1-litre Fiesta Ecoboost is extremely popular, described as young and agile, with three and five-door body styles. The supermini has a three-cylinder turbo petrol engine, with standard models achieving 65.7mpg Trim levels for the Ecoboost range from Style, Edge and Zetec, Zetec S, Metal, Titanium and the ST-Line and active series introduced for newer models. The Fiesta Ecoboost has seen a 2022 facelift to include mild-hybrid technology, but 1-litre models are still sitting below insurance group 20.
The seat Ibiza sits in insurance groups 2-24, similarly to the Ford Fiesta the 1.0-litre engine has a three-cylinders. The 1.5-litre four-cylinder engine has been discontinued. All Seat Ibiza’s come with five doors as standard. The trim levels range from standard SE for entry-level models, SE technology is the upgraded spec, with a larger touchscreen, integrated sat-nav and 16-inch alloy wheels. The FR and FR sport modes offer a sportier trim, and Xcellence and Xcellence Lux are top-of-the-range, with the top-spec including a rear-view camera and adaptive cruise control. The standard 1.0-litre model has 79bhp and 53.3mpg, the higher powered 108bhp manual version returns 52.3mpg, and will sprint from 0-62mph in 10 seconds.
Car Insurance Money Saving Tips
There are other hacks that will help reduce insurance costs. For example, adding named drivers to your policy when you’re under 25 can bring down your quote.
Comparethemarket lets you compare quotes side by side so you can see the figures with and without a named driver to find which one’s cheaper. You can also compare other factors such as voluntary excess, to see which policies are most practical and inexpensive for you.
Pay upfront rather than in monthly instalments, to reduce your quote by up to 20%. Keep this in mind when saving for a car, if you want to save that extra bit to lower monthly outgoings.
Multi-car policies can also drastically reduce premiums if you’re lucky enough to live in a household with other drivers. Switching from a personal policy to multi-car is especially beneficial for young drivers, but may increase premiums for older drivers.
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