Car sales in decline across Australia, figures show
It has become increasingly apparent that running a car is extremely harsh on the bank account.
The price of fuel is rising all the time and the general cost of maintenance has always been on the high side.
New figures released by the Australian Bureau of Statistics appear to reflect the fact that many Aussies simply cannot afford to own a vehicle.
Sales of new cars fell by 0.5 per cent in February 2012 compared with the previous month. Indeed, seven out of eight territories in Australia recorded declines, with only Western Australia posting any growth.
However, many people rely on a vehicle for work purposes and there are ways to make savings.
Car insurance is a big one-off expense that we could do without, but you can take steps to keep your premiums low. Buying a car that has a smaller engine generally does the trick and this will also save you money on fuel.
Some insurers now offer cover based on telematics, which tracks the performance of a driver. So if you are confident about your ability behind the wheel, this could be a good way to prove it to your insurance provider.
Have a question about car insurance? Ask the money gurus at Mozo Answers.