Where did your first car come from?

NEW RACQ research has found almost 40 percent of young drivers have had their first car purchased for them by their family.

The RACQ research also found boys were more likely to borrow money from the "Bank of Mum and Dad" than girls.

The RACQ's Lauren Ritchie said the average parental spend was around $10,000, approximately $3000 more than if the young drivers were to have purchased it themselves using finance.

"Buying your first car can be a daunting task and is one of the most important purchases for young people," Ms Ritchie said.

"It can be tempting to buy the first shiny one you see but doing a little research now can save you a lot of money down the track."

Ms Ritchie said first car buyers who saved up themselves spent on average half as much, around $4300, on their first car.

"First time buyers have plenty to consider before signing on the dotted line, such as price, type, size, colour, economy, age and most importantly how safe the vehicle is," she said.

"You'll want a bargain, but don't sacrifice safety or be stuck with long term costs for short term gain.

"Whether you save up yourself or borrow from mum or dad it's important that you know the ongoing costs associated with owning and running a car.

"The cost of regular servicing, fuel, new tyres, repayments and of course the depreciation of the vehicle itself should all be considered."

Members can apply for an RACQ car loan by visiting www.racq.com/finance.

For more information about how to buy your first car, visit http://www.free2go.com.au/cars.



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