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With a possible congestion tax looming and the impact of the new carbon tax on family budgets yet to be felt, almost 60% of Australian drivers are certain the cost of running a car is already rising faster than other living expenses, such as gas and electricity.
Bingle Car Insurance spokesperson Melanie Vine said:
“Given our research found the average cost of running a car is $5,556 per year2, it’s easy to see why people are already cutting back so they can stay on the road.
“The average Australian income is $67,000 per year before tax3 and $5,556 represents a fair chunk of that, so it’s not surprising that our research also found 75% of Aussies think it’s just too expensive.”
Despite the spiraling costs, Bingle’s research found that 92% of Australians believe that having a car is a necessity, and almost 70% declare they would never give up their car, no matter how much it costs to run.
“Servicing, tolls, the rising cost of petrol, rego, and insurance all add up pretty quickly over the year.
“Insurance can be up to about 10% of those running expenses, and one way to reduce the cost is through a simple, low cost, comprehensive car insurance provider like Bingle.” Ms Vine said.
Research Summary:
• 92% agree that having a car is a necessity
• 55% have cut back on other spending to afford to run a car
• 75 % say the costs of running a car are too expensive
• 58% believe the cost of running a car rises faster than other living expenses, such as gas and electricity
• 88% feel it is more expensive to run a car this year than it was last year
• 68% would never give up their car, no matter how much it costs to run it
• 22% said they would sell their car if costs continued to grow
ENDS
1. Bingle’
2. This annual figure includes fuel, service, repairs, registration, insurance, and other costs, such as cleaning, detailing, tyres, parking and tolls and is based on the Newspoll research .
3. ABS, Average Weekly Earnings, Australia, Feb 2011
For further information or to organise an interview, please contact:
Melanie Vine
Bingle Car Insurance
(0459) 800 621
Bingle.com Pty Ltd is an authorised representative of Australian Associated Motor Insurers Limited (AAMI), the issuer of this product. Please read the Product Disclosure Statement at bingle.com.au before making any decisions regarding this product and consider whether it is right for you.
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Bingle is an Australia low cost provider of comprehensive car insurance, fully underwritten by AAMI. Our product is designed to deliver great value budget car insurance. Cutting our running costs doesn’t mean you miss out on important things like quality repairs with a lifetime guarantee, flexibility to choose your car’s insured value or cover for the damage your car might cause – up to $20m. Contact us for a car insurance quote now and see how much you could be saving.
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