​The real cost of buying a car

Registration fees can vary but your local vehicle registration centre will be able to tell you how much you'll need to pay and by when.

When you first buy your car, you'll also need to factor in registration transfer (and registration renewal if it’s about to expire).

If you’ve bought a car on finance, repayments may be your biggest ongoing cost. You should factor in the regular repayments, plus any loan fees.

When you’re purchasing a car, you should ensure you've got appropriate insurance as finding yourself without it can be costly.  Consider getting at least three quotes before buying, as premiums can differ by hundreds of dollars a year. Some insurers might even give you a discount if you've already got other insurance, such as travel or home, with them.

Purchasing roadside assistance is often a good idea. Depending on your package, professional assistance is only a call away if your car breaks down. Your insurance policy may include it, so double check before buying.

For petrol vehicles, the cost of fuel will depend largely on how often and how far you drive your car. If you have an electric vehicle, you should budget for charging at home or using public charging stations. Home charging can be the cheaper option, while public charging stations may cost more but charge your car faster.

Regular servicing keeps your car running safely and can help avoid bigger repair bills down the track. Check if your car comes with capped-price servicing, which can help you manage costs. You should consider budgeting for things like new tyres, which wear down over time. Unexpected repairs are part of car ownership, so setting up an emergency fund to help cover costs can save you a lot of stress later.