When it comes to the car costs you associate with hitting your wallet the hardest, the price of petrol and tolls are probably the most likely to come to mind, but new figures from the Australian Automobile Association (AAA) have revealed car loan repayments to be the biggest drain on family budgets.
The price of transport in Perth is costing families around $16,652 every year according to the AAA’s (Australian Automobile Association) most recent Transport Affordability Index, with car loan repayments making the biggest dent in household budgets.
As electric vehicles become ever-more affordable to buy and run, the EV revolution may hit our roads sooner than expected, according to a new forecast by the advanced transport team at Bloomberg New Energy Finance (BNEF).
Despite Aussies’ love affair with cars, keeping them on the road isn’t cheap. According to a new survey by RACV the average cost of running a car is setting drivers back $207.84 a week, a 1.6% increase from last year. With 13.8 million passenger vehicles registered on our roads this means our nation’s weekly car ownership bill sits at around $2.8 billion.
With the end of financial year - and the end of financial year sales - approaching, Aussies may be gearing up to splurge on a new car soon. But bargain-hunting drivers need to be careful of rising car loan costs when shopping this year’s sales.
Marty Mcfly and Doc Brown watch out, because you might not have the skies to yourselves for much longer after Uber Technologies acquired former NASA engineer Mark Moore to lead its flying car program, Uber Elevate.