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NEWS
Queenslanders pay more to run cars
Commonwealth Bank survey pegs Queensland as most expensive motoring stateQueenslanders pay the most per person to run and maintain their cars. That’s the finding of a Commonwealth Bank survey released today.
The survey, produced by CommBank’s Signal consumer trends unit, suggests Queenslanders spend around $4108 per customer per year to run their car. The amount does not include costs associated with loan repayments or car depreciation.
In contrast, South Australians get off lightest, spending $3417.
The study compares categories including maintenance, auto association fees, rego and insurance costs. It concluded more tolls are paid by NSW drivers, while WA motorists pay the most for parking per annum. Registration costs are lowest in the NT and Tasmanians are the grubbiest – spending only $51 per year on carwashes.
The findings are based on CommBank credit and debit system transactional data from the 2012-13 tax year. CommBank claims 50 per cent of the population own a car and the average cost to Australians to run that car is $3854.
Diana Mousina, CommBank Economist says service station expenses are the number one cost for motorists across all states and territories.
"Australians spent a total of $7.2b in 2012/13 with their credit/debit card [on service station costs], equivalent to approximately $1552 per person. Fuel costs will always be a significant expense..."
But says Mousina, parking costs are also on the rise.
"Residents in the ACT and WA showed the largest increase in parking spend, with an increase of 29 per cent and 19 per cent respectively over the last four years... Also 18-35 year olds have increased their parking outgoings by 17 per cent over the last four years," she revealed.
No surprises, according to Mousina, those opting for small cars are keeping more money in their pockets.
"Buyers who opt out of large cars in favour of a small car can see their bank balance improve by on average $2800 per year when including costs such as finance and depreciation," she stated.
CommBank has produced an infographic on car running costs. For more information check out the bank’s Signals website.
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Written byCarsales Staff
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