Insurance company swiftcover.com has compiled a list of the top ten cheapest second hand cars that it insures.
The chart shows the cheapest car to insure with swiftcover.com is the Smart Pure, coming in at £350.84 per year.
Family car the Volvo V70 is the most expensive at £581.95 per year, much more expensive than the BMW and Mercedes.
The latest car figures from the Society of Motor Manufacturers (SMMT) showed a steep decline in new car registrations, with September figures plummeting by 21 per cent compared with the previous 12 months.
It is clear that consumer caution has been driven by the current credit crunch with increased car taxation and the rising cost of living making Brits keener to hang on to their hard-earned cash.
But interestingly, despite a marked decrease in sales of new cars, the SMMT figures showed there had been very little impact on the sales of second hand cars, which have suffered only a slight decline in early 2008.
With the AA’s recent announcement that UK motorists are paying an average 19 per cent more than in 2007 to run their car, consumers are eager to make savings where they can.
Written by Peter Sweden