RACV.com.au has released some interested figures on car expenses. Apart from the fuel costs, there are lots of other ‘not so obvious’ costs for running and maintaining a car. RACV’s research data reveals the total cost of owning a car.

There are two types of costs:

1. Running Costs: This includes the fuel costs, tyre costs and service & repair costs. These are the ‘obvious’ costs of maintaining a car.

2. Standing Costs / Fixed Costs: This includes depreciation of a car, loan interest, rego and comprehensive insurance. These are ‘not so obvious’ expenses. The standing Costs of a car is much more than the running costs. Overall depreciation takes the prize for contributing the most towards the costs. Depreciation is the decline in car’s value over the course of its life.

Most of us probably already knew about these standing costs. But RACV gives us weekly costs for each of these contributors. Quantifying it this way makes it all easy to to understand. And thats what makes this report so interesing and useful.

To check out what your car’s running and standing costs are, visit - RACV

Topics: Financial Topics |

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