Shocking insurance quote 17-year-old received after buying $40 car shows how little has changed in 20 years

This 17-year-old secured a $40 car at an auction, but his delight was short-lived when he heard the shocking insurance quote.

British teenager Thomas secured his first car, a 1988 Daihatsu Charade, for a swell deal.

It might not have been the flashiest car, but it was in working order and was cheaper than a trip to the grocery store.

But there was a string attached – an almighty insurance quote.

This 17-year-old was given a stunning insurance quote for his $40 car

British motoring television magazine Fifth Gear investigated the baffling case back in 2005.

This segment may be more than 20 years old, but it’s striking how little has changed in the two decades since.

After securing his car for $40, this 17-year-old called in for an insurance quote and was told he’d be paying $4,288.

And that’s in 2005 money, mind you.

Nowadays, that insurance quote would be looking more like $7,637.

Ouch, indeed.

Fifth Gear noted that high premiums were a big issue in the UK, with an estimated one-third of young drivers driving without insurance to avoid the costs.

That’s inadvisable for a whole host of reasons, not least because it’s against the law.

And this isn’t an issue that’s gone away either, with 17-20 years old driving without insurance has risen by 200 percent since 2021, AutoExpress reported.

So what’s a young driver to do, if they want to lower the cost of their insurance?

Fortunately, Fifth Gear had a few tips to dish out.

They aren’t the first to give out some words of advice when it comes to getting a good deal for your insurance – this expert also had some hacks he was happy to share.

How young drivers can bring down the cost of their insurance

There were a few options to consider for Thomas.

One was the standard method of shopping around, in which he could do as much research as possible.

It will surprise you how much prices varied based on the provider.

And if all else failed, he found that calling up the company directly and pleading poverty could get a few hundred knocked off the price.

Avoiding car modifications, waiting until he turned 18, or adding a parent to the policy could also lower rates.

There’s also brands that will be cheaper to insure.

Ultimately, there are ways to get lower prices – and high prices aren’t a reason to swerve being insured altogether.

Viewers were struck by how little had changed in terms of car insurance in the 20 years since the episode had aired.

“This was made about 20 years ago and literally nothing has changed since than. Company greed is out of control and the government is not doing its job,” one commenter fumed.

“The cost of even getting your license is thousands too, and the government makes the test harder every year,” another wrote.

The UK has some of the highest car insurance costs in the world, and we’ve seen that time and time again.

Remember the shock of this Cadillac Escalade V when he called up about the car that had been branded ‘uninsurable’?