CarMoney Australia found that drivers are spending A$836,640 in a lifetime paying for motoring maintenance, which is A$13,944 annually in costs.
That’s almost A$31,810 less than the average lifetime cost across all six countries that were analysed in the study, which comes in at a hefty A$868,450.
Australia was the third most expensive country analysed when it comes to paying for your vehicle.
Lowering the cost of motoring is Australia’s cheaper car prices.
The 10 cars Australian motorists will own on average during their driving lifetime cost A$397,951 in total, averaging A$39,795 per car. This is the cheapest of all the countries analysed, and significantly less than the overall average of A$55,364 per car across all countries.
However, when it comes to insurance and road tax, on average, an Aussie driver will pay A$56,389 over their lifetime to tax their vehicle – almost double the A$23,362 average across all six countries surveyed.
In New Zealand it cost A$691,409 (NZ$747,972) over a lifetime of driving which makes the country the second cheapest when it comes to paying for driving costs over a lifetime, only behind France.
It costs A$716 a year to charge an EV in Australia
With many countries moving away from petrol and diesel cars, it’s now likely drivers will own an EV in their lifetime.
CarMoney Australia looked at how much over a year and a lifetime it will cost car owners to charge an electric vehicle, based on current rates.
To charge an EV in Australia, drivers are expected to pay A$42,945 in charging costs over a lifetime right now.
Compared to other countries, Australia was ranked in the middle of the table, behind New Zealand, which is the cheapest country, and also France.
It costs A$673 (NZ$725) to charge an EV annually in New Zealand, the cheapest of all the countries analysed – a lifetime cost of A$40,404 (NZ$43,512).
Other findings included that the United Kingdom has the highest fuel and EV charging costs of all the countries analysed, the US is the most expensive country to own a car, costing more than A$1.2 million (about US$790,000) over a lifetime, France is the cheapest country to own a car over a lifetime, car repairs and fuel costs are the most affordable in Germany, and New Zealand is the cheapest country to charge an EV with lifetime costs exceeding A$15,000 (NZ$16,100) below average.
Tips suggested by CarMoney Australia to keep motoring costs down include avoiding using unnecessary petrol (by driving efficiently – such as not speeding – and not idling), removing unnecessary weight (like roof racks and boxes when not using them), comparing vehicle insurance quotes to get the best deal, and doing the research to get the best price If buying a new car.
New Zealand annual EV charging cost A$673 (NZ$725), lifetime EV charging cost A$40,404 (NZ$43,512).
France annual EV charging cost A$711 (427 euros), lifetime EV charging cost A$42,682 (25,611 euros).
Australia annual EV charging cost A$716 , lifetime EV charging cost A$42,945.
US annual EV charging cost A$932 (US$614), lifetime EV charging cost A$55,835 (US$36,747).
Germany annual EV charging cost A$1244 (746 euros), lifetime EV charging cost A$74,640 (44,751 euros).
UK annual EV charging cost A$1305 (672 pounds), lifetime EV charging cost A$78,260 (40,297 pounds).
