For Australians in particular, owning a car can improve our quality of life tremendously. Even when travelling in-state, the distances between cities and towns can be massive even here in Victoria – so driving rather than taking public transport will save you plenty of time. Owning your own vehicle also allows you to get to work, run errands and drive your children to school much more efficiently. 

However, maintenance costs are a common complaint among car owners, especially as the cost of fuel continues to fluctuate. After all, having your own vehicle doesn’t just mean having to pay for fuel, but also for servicing and vehicle maintenance, insurance, registration, and even parking. 

Thankfully, these aren’t reasons to put you off purchasing a car. Here are just a few ways you can make car ownership work better for you, ensuring you can reap all the benefits of having a private vehicle without burning a hole in your pocket along the way. 

Secure Car Insurance that Provides Good Value 

Generally, the best car insurance policies provide comprehensive cover, meaning your policy will include cover for a wide range of different incidents and claims. For instance, most comprehensive car insurance policies cover claims relating to head-on collisions, glass damage, unforeseen weather-related damage and hit-and-run scenarios. But there are insurers who provide even more value by giving their customers access to more perks, or perhaps to some of their additional services for vehicle owners.

A good example here is RACV’s Complete Care car insurance. RACV’s Complete Care policy boasts a competitive list of thoughtful inclusions, including access to emergency accommodation (even pet-friendly accommodation if required), courtesy hire cars in the event your vehicle is unavailable due to repairs, and no excess for any claims relating to windscreen, sunroof, or window glass damage. The competitive add-ons provided under the Complete Care cover makes this RACV policy a high-value fit for vehicle owners in Melbourne who are driving frequently through built-up urban areas, as well as drivers across greater Victoria who find themselves navigating through isolated areas or even along unsealed roadways. 

Remember that value is subjective so in much the same way as you’d look through credit card offers to find one with the best perks to suit you personally, it’s also imperative that you shop around when finding an ideal car insurance policy. With a little due diligence, you can ensure your car insurance costs provide as great a return for you as possible.

Choose an Energy-Efficient Car

All vehicles come with their own maintenance and operating costs. For instance, imported cars may have a scarcity of parts, leading to longer repair timelines and perhaps even more expensive mechanic fees.

One of the most major operating cost factors to consider today is fuel efficiency.  With petrol costs continuing to climb, finding an energy-efficient vehicle may help you save some serious bucks over the long term.

This is precisely why electric vehicle ownership is growing in popularity nationwide. Cities across Australia are also investing further into EV infrastructure, with more parking facilities and public amenities installing EV charging stations to cater for drivers. 

While EVs often cost more upfront, they’re typically much easier and cheaper to maintain than combustion engine vehicles simply because their lithium battery-powered engines have fewer delicate moving parts. So on top of saving on fuel costs, making the switch to an EV may also help you spend less at your local auto garage.

Regularly Maintain Your Vehicle to Sustain Resale Value

And speaking of servicing combustion engine vehicles, it’s important to note that there’s no avoiding wear and tear – no matter how sturdy your vehicle model. Driving a car regularly on the road can cause myriad issues, including oil leaks, worn brake pads, deteriorated batteries and damaged timing belts. Over time, these problems can cause further damage to your vehicle and potentially present driving hazards. 

This is where consistent servicing becomes essential for maintaining the value of your vehicle. Often, things can go wrong with your vehicle without you even noticing, so it’s important to perform maintenance even if you don’t spot any major issues. This is especially true when it comes to essential components like your brakes, engine and timing belt. By having an expert take a look at your car on a regular basis, you can save on expensive repairs down the road if minor issues become more serious and prevent accidents on the road. 

Stay Sensible with your Car Purchasing Habits

Another great way to maintain resale value is to specifically purchase vehicles that are in-demand or at the very least, projected to maintain their popularity. With intuitive vehicle purchasing strategies, you can ultimately minimise the impact of vehicle depreciation on your back pocket.

Again, it pays to do your research here, but a good place to begin is just by searching for the most popular vehicle makes and models in Australia. For instance, we’re seeing medium-sized SUVs skyrocket in popularity over the past few years, with models like the Toyota RAV4, Mitsubishi Outlander and Kia Sportage being in-demand when compared to other vehicle models.

Apply this same approach if you’re looking to swap out your old car for a new EV. Whilst EV models are still relatively new to the Australian market, the reduced maintenance costs of EVs have helped both hybrid and full electric vehicles maintain their resale value at an improved pace when compared to combustion engine vehicles. When shopping for EVs, however, it’s recommended that buyers assess factors like vehicle costs and parts availability to also help them determine what electric vehicle models are most likely to retain a higher resale value.

Practise Safe Driving to Support Vehicle Health

Lastly, one of the strongest measures you can take for keeping your car ownership costs low is to simply drive safely and lawfully at all times. Following road rules can help you not only avoid fines, but also accidents. 

You should also be alert and use common sense: while you might follow rules and regulations, other drivers might not. Always be aware of what the cars and pedestrians around you are doing and drive defensively. Also, take care not to drive too fast, especially in low-visibility conditions. Moreover, never drive when under the influence of alcohol, as this can impair your reaction time and judgment. 

While nobody thinks they’ll be involved in a serious incident, road accidents are far more common than many people think. Besides causing damage to your vehicle that might necessitate expensive repairs down the line, an accident can also cause injury and, in the most serious cases, death. So, always keep your eyes on the road, follow the local driving rules and refrain from making risky maneuvers. 

Get More from your Auto Investments with these Responsible Car Ownership Tips

Many Aussies are reluctant to pull the trigger on a vehicle purchase because of the costs involved with owning and maintaining a car. This is understandable: from fuel to repair costs, there are many expenses you need to incur after the initial purchase of your automobile. 

Thankfully, there are plenty of ways to manage the costs of car ownership. With these spend-savvy tips, you can ensure your costs as a car owner stay minimal and manageable from model to model.