Rising cost of car ownership not an issue
The rising cost of car ownership doesn’t faze Australians - for the most part.
According to a survey, many Aussies think commuting by car is expensive, but are not willing to change to a cheaper option such as public transport.
The ME Bank survey shows 86 per cent worry about the rising cost of using a car, with half saying the expense of running a car is higher than they expected.
According to the results from more than 1000 motorists, Victorians are more concerned about the costs related to travelling by car than residents of any other state.
Over 50 per cent of Melbourne city residents say they are worried about the spike in costs, compared to just 36 per cent of Sydney residents.
But, those in Melbourne are also more likely to use higher-priced forms of public transport such as taxis and Ubers - 17 per cent more likely than their Sydney counterparts.
Potentially as a result of feeling the pinch following the mining boom, 93 per cent of WA residents showed concern for rising vehicle costs.
Spokesperson from ME Bank Matthew Read says commuting is an area of the family budget where there’s a real opportunity to save.
“One rational reason some may stick with the car is the flexibility it provides; for example when travel plans change during the day and some locations can be harder to get to by public transport,” he says.
“But the fact so many Sydneysiders say they wouldn’t change their method of commute also suggests old habits are hard to break.”