To own or to share a car: is the cost of owning a car whilst at university worth it?
There’s no getting around it. Owning a car is expensive. Which means owning a car whilst at university is expensive. With all the other costs like student accommodation, university fees, textbooks and technology, it’s sometimes hard to budget for everything.
It doesn’t matter if you invest in a small fuel efficient car that’s nippy enough for the city or an older model that runs quite happily on E10 or 91, the costs behind owning a car add up quickly and can eat a large chunk of your budget – especially if you have parts that break… which is inevitable, really.
Between paying for tolls, fuel, insurance, cleaning and broken parts, owning a car as a student on a budget will be expensive. But is it more expensive than using a car share service like GoGet?
Let’s cover the costs behind car ownership in Australia
There are countless costs associated with owning a car in Australia and having one should definitely be considered a privilege. But whether you’re going on lots of road trips, particularly dislike public transport or require your own car for other reasons, sometimes access is non negotiable. But have you considered car sharing?
Before we get into car sharing, here are some of the costs associated with buying and owning a car in Australia.
#1 Car cost – generally at least $2,000 plus transfer fee
#2 Insurance – For under 25’s comprehensive insurance is approximately $1,000-$2,000 per year
#3 Registration – Usually around $500-$1,000 per year
#4 Fuel – something that fluctuates often but you’ll see prices between $1-$2 per litre
#5 Car Service – Your car will need servicing twice a year at an average cost of $200 per service
#6 Tolls – these vary per state but Sydney’s tolls for example cost up to $8.21 for a regular car each time you pass through.
#7 CO2 Emissions – Ok, maybe not a direct cost, but it’s a cost to the earth!
How is a GoGet membership cheaper?
Memberships range from $49 a year to $30 per month. The higher membership fees give you much cheaper hourly rates and are worth it if you drive more than a few hours a week.
No matter what plan you pick, we’ll pay for all of these:
- Petrol (you fill up with a card in the car)
In conclusion, the cost of owning a car in Australia – especially if you live in a city – often isn’t worth it. There is so much admin, paperwork, insurance scouting and not to mention searching for car spaces. Instead, you could be whizzing around in a car share vehicle without having to worry about all the breakdowns and selling your car when you move away!