Families cough up $223.14 a week on their car

The costs of running a car, from fuel to insurance and registration, continues to rise. So which cars do the RACV say are the most affordable to own and run?

Rising fuel prices are driving up the cost of running a car with Victorians spending hundreds of dollars a week to stay on the road.

A new report from the RACV reveals that motorists splash an average of $223.14 a week on their car, an extra $2.27 compared to last year.

The average cost of fuel has jumped $126.26 a year — from $1433.29 in 2018 to $1559.56 in 2019.

On road costs, including insurance and registration, also surged almost $350 while the cost of servicing and tyres dropped slightly.

RACV vehicle engineering manager Michael Case said the cost of running a car extended well beyond its purchase price.

“The results remind drivers that a car continues to cost you, every week and every kilometre, and goes beyond your fuel fill-up,” he said.

“The cost of owning a car doesn’t end after the purchase price, with many people neglecting the impact depreciation, on-road costs and loan repayments have on the hip pocket.”

Uni student Andrea Neyland 22, is trying to cycle more to save money and combat the price of fuel. Picture: David Caird

The report also named the Kia Rio as the most affordable car to own and run in Victoria in a field of 141 models.

It found the light hatchback cost $115.95 a week to keep on the road for five years, including its $19,090 list price, fuel, depreciation and servicing.

The Hyundai IONIQ Elite was the most cost effective electric car — at $193.05 a week over five years — while a BMW was deemed the most expensive.

The X5 xDrive turbo diesel wagon would cost $450.34 a week over five years.

Student Anthea Neyland, 22, who works part time in hospitality, has turned to peddle power to reduce the cost of running her car.

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She now fills up with fuel about once a fortnight or month, instead of weekly, and only uses her car for longer trips.

“Because I work locally and study nearby I will cycle to work and take public transport to uni to cut down on petrol and save money,” she said.

“I have an older car so there are heaps of costs associated with petrol and servicing. It really adds up.”

The RACV has launched a “car-culator” that breaks down the cost of Victoria’s most popular cars to run.

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@moniquehore