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Ist car for a new (young) driver
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If you know the Corolla has been well looked after(?) then it's probably better than an equivalent car owned by someone you don't know with no idea how well that car was looked after.
Insurance for a new driver is probably more based upon the chance of serious injury and huge medical bills that could result rather than the value of the car being driven.
Will he be the main driver? If not, you could consider having him as a named driver on your insurance.0
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