What is the cheapest way for my teen driver to have their own car?

Is there a cheaper way for my teen to drive their own car? It would be easier than sharing a car with them but I am not sure if we can afford it, especially with the cost of insurance. What is the least expensive way for them to get their own car?

That’s a great question! The cheapest way for your teen to start driving would be for them to share in operating the family car. However, this might not be a practical solution for many families, so we have some tips that can help you out if they must get their own vehicle.
The two main factors to consider when car shopping for a youthful driver are safety and affordability. A new car is not necessarily safer! The perfect scenario would be to find an older car that does not need collision coverage on the insurance policy.
As you shop around, collect the VIN of the cars you are interested in. This way, you can get accurate quotes from your car insurance company before you are committed to the purchase.
Your current insurance company might not have the best rate for a young driver so check with a few other providers as well. The insurance comparison app Jerry can help with this. Jerry shops with over 50 insurance companies, and we’ll get you customized quotes in seconds so that all you need to do is pick the policy that works best for your teen.
You can also look into insurance discounts! Here are some discounts that will give your teen the biggest bank for their buck.
Good luck car shopping!
Shannon Martin
Answered on Oct 25, 2021
Shannon is an expert in personal lines liability insurance with 13 + years of insurance industry experience. She also served as a special insurance liaison to AARP members for 6 of those years. She is a graduate of UL Lafayette and currently resides in NY with her family. Shannon is also an amateur juggler, ukulele player, and is a time travel paradox theory enthusiast.

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