Buying a car is one thing. How about running one? Car ownership is a big deal for many Australians, for personal or for business use. To that end, it’s hardly surprising that there are so many different resources and financing options available for willing motorists.
However, many motorists simply don’t prepare themselves enough for the costs that can arise from regular driving. Owning a car can cost you money even if you don’t drive too often! With this in mind, let’s take a look at some of the costs you’re going to need to prepare for.
Before you worry about whether or not you can afford to run a car, it’s worth bearing in mind a few facts about fuel and vehicle usage.
$72 may not seem too much, but that adds up to $3,744 per year. On a salary of $25,000, that’s a fair amount to be putting by for running costs. Remember, if your driving is for business purposes, you can claim the fuel cost as a tax deductible expense. Make sure you speak with your Accountant about it.
There are other things to consider, too!
Buying a car outright means there are other expectations required of you, too. These, unfortunately, will also have a knock-on effect for your finances.
Running costs for cars in Australia will vary from area to area. It is worth bearing in mind that servicing, fuel, insurance and toll road fees will likely be higher around city areas. Towards more rural areas, you will be looking at paying much less.
It is also worth noting, too, that your running costs will depend upon how much you use your car. However, again, you’ll still need to pay for licensing and insurance premiums!
All in all, running a car year on year between two people can stretch into the thousands. However, there are ways in which you can spread the cost.
Car financing is a great way to cut down the pressure of having to buy your car outright. What’s more, other fees and factors may be taken into account with certain plans. This way, you can financially plan without having to panic.
If you’re keen to drive in Australia but are worried about the costs, we’re here to help! Call AutoCarLoans today on 1300 301 051 to speak to one of our expert brokers about low rate car finance.
Tags: Percent Car Finance