The Property Pack

Responding to an influx of Australians not sure what they were spending on their car each year - and finding out it is significantly more than they thought - Car Next Door has just released a money saving car cost calculator which helps users track everything from registration, services and insurance to parking and depreciation.


The calculator, which has already been accessed thousands of times since it went live this morning, works out what you actually spend on your car, comparing it to what else that money could have been used for.


Sydneysider Jake Alderton, 26, decided to get rid of his 2005 Mazda 6 at the start of the pandemic as he had lost hours due to cutbacks at work and was looking at ways of reducing expenses. 


By getting rid of the car, the copywriter realised he would have an extra $27,182.80 in his pocket after 6 years. In real terms, Jack, who loves sport and travel, realised that with the money saved, he could have bought:


“I sold my 2005 Mazda 6 at the beginning of the pandemic as it was costing me around $400-$5000 a year and I was hardly using it, so when I did my sums, I realised it didn’t make financial sense,” says Jake.


“I adjusted the way I travel day to day and so it didn’t make an impact on my life.


“Now, when I want to go on a road trip or further afield, I can choose the car I take.”


According to the Car Next Door car cost calculator, that $27,182.80 could also pay for: 


-        66 years of Diamond Membership with the Sydney Rabbitohs. 

-        774 general admission tickets to AFL games

-        A flat white coffee, daily, for the next 19 years

-        87 return flights between Sydney and Byron

-        102 years of MasterClass online learning membership 


Car Next Door CEO and founder Will Davies says it’s been a real eye opener on how much money Australians spend on owning and running a car.


“Cars are one of the biggest expenses we have and when you look at all the outgoings like registration, fuel, insurance, tolls and depreciations, they quickly become a huge financial burden.


“The amount of money spent on cars that are parked 95 per cent of the time is just mind-blowing,” he says.


“We end up enslaving ourselves to these vehicles.


Car Next Door has reported a 245 percent increase in customers during the pandemic, as Australians look for ways to save on their expenses. Currently there are more than 12,000 people joining the platform every month.


“Months of working from home and hybrid work situations along with rising costs of car ownership, financial pressure and economic uncertainty has been a big motivator for this change.”



Top cryptocurrency

In the market today, we have tens of thousands of cryptocurrencies of different cryptocurrencies. To a new user, it can get ov...

Best Way to Make Money from Cryptocurrency

We all get into cryptocurrency trading to make money. However, very few end up making money, while some give up along the way...

How to get the most out of your salary

It can seem hard to get ahead with the rising cost of living in Australia, however, with a well thought out plan and action, i...

4 in 5 Hopeful Buyers Don’t Understand Key Financial Concepts

While most Australians dream of owning their own home, the majority of hopeful homeowners admit they don’t fully understand ...

Secure Your Car Loan Now Before the Interest Rate Increase

It's not uncommon when buying a car for people to shop around for the right price on make, colour and size. You want the very ...

The top 10 tips for entrepreneurs starting up their business right now

Throughout the pandemic, we have seen the relentless damage that lockdowns have had on businesses. Despite this hostile enviro...

Steve ‘Commando’ Willis On Mind, Body, And Bank Balance

We’re quickly headed to that time of year where you start to feel like your finances are a little out of control. Levels of st...

Tips for managing your finances when self-employed

By Jo Hetherington, TAL Head of Financial Health 1. Explore your options when it comes to deciding on your business structure...

PayPal Is The Largest Non-bank Lender

Non-bank lenders have become a popular alternative to traditional banks when it comes to acquiring loans. According to data ...

The Magazine

Best 8 Websites for Learning New Skills

If you're like most people, you probably want to learn new skills but don't know where to start. The internet is a great place...

What To Do While Sitting On A Couch To Have Fun

Are you feeling lazy and bored at the same time and looking for fun things to do while sitting on your couch? You can catch up o...

Treat your coffee aficionado with Campos Coffee this holiday season

Every year Campos Coffee releases festive themed packaging for its Superior blend. This year’s packaging, featuring beautifu...