9 out of 10 used cars have a defect. Don't risk buying a lemon!
It is important to consider the ongoing costs you are likely to incur as a motorist.
At this point in time, you may be thinking only about the purchase price of your next vehicle. However, over a number of years, the ongoing costs of owning a car can make a big difference to your hip pocket.
Ongoing costs include expenses such as:
- vehicle registration
- insurance
- licensing
- fuel
- tyres
- servicing
- repairs
In addition, depreciation is a hidden cost that won’t be realised until sale or trade in time.
Examining these figures in tandem with the purchase price will give you a much more accurate picture of your total motoring costs. For instance, that V8 that you have been eyeing off could potentially cost you a lot more than you bargained for once you take into account increased registration and fuel costs.
Conversely, whilst a hybrid vehicle generally has good fuel economy, it’s quite likely it will be more expensive to own and operate when all costs are taken into consideration.
Also remember that fuel consumption and emissions are closely linked so the lower the fuel consumption, the lower the vehicle’s emissions. More information is available at the Green Vehicle Guide website.
Once again, research into your chosen vehicle is essential. An excellent start is the RACQ Private Vehicle Ownership Costs Guide.
Want to know more?
Guide to the average cost of owning and operating a car in Australia,
Find the cheapest fuel prices in your area
Rate Australian vehicles based on greenhouse and air pollution emissions
The information provided in this fact sheet is intended as a general guide only. You should carry out further research and investigations into the topics outlined above prior to implementing any actions or recommendations
Like us on Facebook
Follow us on Twitter