Victorians enjoying short-term rego
Half a million Victorians are paying for short-term rego.
Since the introduction of short-term regos in Victoria during January of this year, residents have been switching in droves. More than half a million have opted for shorter rego terms. Around 24,000 Victorians are signing up each week, with three-month periods proving more popular than six-month renewals.
Short-term regosThe state government in charge of Victoria brought in short-term regos to reduce the financial burden placed on households. Drivers used to pay on average an annual fee of $800.80 but may now opt for a quarterly $200.20 outlay or a bi-annual $400.40 payment. For the shorter periods, motorists pay an extra $2.45 fee, unless they hold a concession card.
Minister for Roads and Road Safety Luke Donnellan said the payment options should ease the financial burden drivers are experiencing.
“An $800 lump sum can hit some family budgets hard and it’s clear from this data that these new, flexible options have come as a welcome relief to half a million Victorians,” Donnellan said.
State member for Frankston Paul Edbrooke also welcomed the additional payment options.
“Having the option of spacing out rego payments over the whole year has been a massive help for many people in Frankston,” said Edbrooke.
Who’s buying short-term rego?
The residents of Craigieburn, Frankston and Pakenham were the fastest to take up the offer. Werribee and Berwick also proved popular areas. The flexible payments are most popular with 26-35 year olds.
By the end of the year, VicRoads predicts half of all registered owners will have moved over to short-term payments. Right now, the authority handles 5.6 million renewals each year.
Who’s eligible for short-term rego?
Drivers of cars, utes, vans, motorbikes or mobile construction vehicles can sign-up for a VicRoads account before selecting which rego option best fits their needs and wallet. Motorists can still pay a 12-month annual lump sum if they wish.
Short-term regos around Australia
Victoria was the last state to introduce flexible registration periods. In Queensland, New South Wales, Western Australia and the ACT people can choose 3, 6 or 12 monthly instalments and have been able to do so for a while.
Tasmanian drivers and those living in the Northern Territories have the option of a six-month rego and South Australians can pay for registration on a monthly direct debit like any other bill.
Save money on insurance
Motorists can ease the burden of running a car by shopping around for car insurance at renewal time. Don’t let your insurance auto-renew, compare insurance providers and cut down on some of your vehicle-ownership costs.