Aussies spending $63 billion on car costs

 

2 June 2014

Australian drivers are facing an uphill battle when it comes to controlling motoring costs, pouring a collective $63 billion into keeping their cars running on the roads, according to the 2014 Bingle Cost of Motoring Index.

The annual Bingle Cost of Motoring Index, developed by online car insurer Bingle.com.au, tracks and measures the ongoing costs drivers face, including servicing, maintenance, registration, insurance, parking, tolls, fines and petrol.

Bingle spokeswoman Marcela Balart said the Index, now in its third year, has consistently risen year-on-year: “When the Index began in 2012, the average annual cost to keep a car running for an individual driver was $5379. Today, that figure has risen to $5736.

“There’s no denying that the main pressure point for drivers is petrol, but for many leaving the car at home is not an option, so they’ve had to get savvier with their spending habits.”

Ms Balart said the failure to curb annual rises in the cost of motoring was not for lack of trying, with the Index showing slight decreases in servicing and maintenance costs, registration and insurance and even fines.

“In the past 12 months motorists have cut back on servicing and maintenance costs, shopped around for cheaper registration and insurance and even behaved better on the roads avoiding fines.

“Despite these savings, it’s not enough to outweigh increases in petrol, parking and tolls costs,” she said.

“Cost pressures for Australian motorists are coming from all sides, and while some things, such as petrol prices, are out of our control, there are some things you can do to take charge and reduce your cost of motoring.

  • Check your driving style. Do you have a lead foot? Do you brake too much? Driving smoothly without braking hard or accelerating too much means your car isn’t working harder than it needs to, improving its fuel efficiency.
  • Give your car a health check. Is your car fuel efficient? Do you have more weight in the boot than you need? Are your tyres inflated to the correct recommended pressure? Are you using the right fuel for your car? All these things could be weighing your car down and chewing up your fuel faster than you can fill it.
  • Do I or don’t I? Assess whether or not you need your car as much as you think you do. Can you car pool? Are there alternative modes of transport you can take instead of driving? The result can not only save you money in petrol, but in parking and tolls as well.
  • Obey the road rules and avoid traffic fines. It might seem simple enough but with fines costing between $200 and $2000 – that’s money better spent on more important things. Another added benefit of being a good driver is savings on your car insurance.”

An analysis of the cost of motoring along the eastern states shows:

  • NSW has the lowest average cost of motoring at $5613, which remained steady from the previous year, despite an increase in petrol, parking and toll costs.
  • NSW motorists spend less on servicing and maintenance costs as well as traffic fines than other states.
  • The average cost of motoring in Victoria increased to $5638.
  • The average Victorian driver faces twice the cost in fines as their NSW counterparts. It’s also the state with the highest level of parking and toll costs at $311 per driver.
  • Queensland has the highest cost of motoring at $6062 and the only state to crack the $6000 mark.
  • Queenslanders spend more on petrol than any other state. While in other states the average fuel bill is normally around half of the total cost of motoring, in Queensland it averages more towards 60 per cent.
  • Queensland is the cheapest state for registration and insurance as well as parking and tolls costs.

 

Average cost of motoring per driver

2012

2013

2014

  Servicing & Maintenance

$993

$1035

$1008

  Registration & Insurance

$1295

$1332

$1330

  Parking and Tolls

$240

$259

$272

  Fines

$67

$76

$75

  Petrol

$2785

$2907

$3052

Total

$5379

$5610

$5736

 

 

For media enquiries or to arrange an interview please contact:

Marcela Balart
Bingle Corporate Affairs Advisor
P: 02 8121 0298
M: 0422 483 371
E: marcela.balart@suncorp.com.au

1.       Bingle’s Cost of Motoring Index tracks and measures the ongoing costs faced by drivers. Research agency, Nature, conducted an independent internet survey in 2014 of 1,200 owner drivers from across NSW, Victoria and Queensland. This Index is also underpinned by costs sourced from the Government and other third party data and has been weighted using the latest Australian Bureau of Statistics and census figures.