Would you drive a cheaper car to save $5K per year?

The costs don’t factor in the likelihood of an expensive car proving a target for criminals.

Picture: Jake Nowakowski

Central Queenslander drivers could be paying nearly $5,000 per year more than necessary to keep their cars running.

The Finder site compared the cost of an “expensive” versus “cheap” scenario to own a car – including insurance, registration and fuel – over 12 months.

An “expensive” scenario involves driving an eight-cylinder Jeep Cherokee weighing 2,500kg; not getting good rates on insurance due to a poor driving history; and paying up to 140 cents per litre for fuel.

The average driver churns through 1,366 litres of fuel per year. Given that includes city drivers, the amount rural CQ drivers spend is likely much higher.

That scenario is estimated at $7,963 per year.

The “cheap” scenario is based on driving a four-cylinder Toyota Yaris weighing 1,100kg; paying about 120 cents per litre for fuel; and receiving no fines.

A Yaris would cost $522 per year to insure in New South Wales compared with $408 in Queensland.

It comes out at an average $3,413 per year.

“If you want to save some cash, your car insurance premium is the best place to start,” said Finder’s Taylor Blackburn.

“Don’t pay the loyalty tax – if you think you’re paying too much, you’re probably right.”

Blackburn urged drivers to think about other ways they can save on car ownership costs.

“In addition to your policy, you can help your bank balance by keeping an eye out for cheap fuel, carpooling when possible, avoiding speeding and parking fines,” she said.

“If you’re in the market for a new car, opt for a smaller, more fuel-efficient vehicle that will be cheaper to insure.”

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