How to offset rising expenses

Car owners estimate they are forking out $15,754 each year on average to run and maintain their vehicle, a new survey conducted by car subscription service Carbar has revealed.

The latest average is 76% greater than last year’s figure of $8926, with respondents reporting substantial increases in the annual cost of petrol ($938 higher), loan repayments ($871 higher) and insurance ($830 higher).

Motoring journalist Toby Hagon agrees that running a car has become more expensive in recent years, and it’s a trend he can’t see reversing any time soon. However, he says there are a number of ways that drivers can trim their costs.

“The biggest factor on how much your car will cost to run is the driver. If you’re accelerating hard away from a set of lights or you’re braking hard, you’re putting additional wear on everything. So, driving smoothly means you’ll have a better chance at saving fuel and reducing wear and tear on your car.

“Another obvious thing is ensuring that your tyres are at the correct pressure. Under-inflated tyres will not only wear out a bit faster, they will also create additional rolling resistance, which means that the engine has to work harder and you’ll be using more fuel.”

Hagon also recommends reducing air-conditioning use when driving at lower speeds, removing any excess weight in the car and ensuring that it is regularly serviced.

Which costs have jumped most?

• Petrol: $2929 (up $938)

• Repayments: $1652 (up $871)

• Insurance: $1800 (up $830)

• Parking fees: $1101 (up $773)