500,000 Victorians have opted to pay their car rego in short term instalments to manage cash flow

HALF a million Victorians are now paying their car registration in instalments in a bid to manage their cost-of-living and there has been a welcome outcome from the change.

More Victorians opt for short term rego. Picture: Stuart Milligan

HALF a million Victorians are now paying their car registration in short term intervals in a bid to manage their cost-of-living.

Roads Minister Luke Donnellan said people have been taking it up the new initiative in droves, after it was introduced by the Andrews government last year.

The move has also led to a huge reduction in the number of unregistered vehicles.

“It is incredibly popular,” Mr Donnellan said.

“We know that it appeals to younger people.

“This very much provides people with options to manage their cash flow.”

Most people who have taken up the new payment are aged between 26 and 34, however people in all age groups are participating.

Minister for Roads, Luke Donnellan, says the new rego plan is helping Victorians

Frankston student Matilda, 27, said paying small amounts opposed to a yearly bill made her less financially stressed.

“Having the option to pay in instalments makes it a little bit easier to plan my money,’’ she said.

VicRoads director of customer service Paul Santamaria said the move has also led to a reduction of unregistered vehicles by 6000 cars.

The average cost of registration hit $800.80 in September last year.

From January 1, 2018, owners of cars, utes, vans, motorcycles and other light vehicles were allowed to start paying their registration fees in three, six or 12 month instalments.

The move has brought Victoria in to line with most other Australian states.

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