The Insurance Institute for Highway Safety released its first list of recommended used vehicles for teens Wednesday after finding in a survey of 500 parents that 83% bought a used, rather than new, car for their teen to drive.
The institute reviewed crash ratings and safety features -- such as electronic stability control systems -- for used cars and then obtained price data from Kelley Blue Book to build its list.
The insurance group found that, on average, parents spend about $9,800 on a car for a teen. But the median point of car purchases for teens is far lower, at just $5,300.
Prices on the “best choices” list start at $7,300, while the least expensive “good choice”...