With inflation biting and petrol prices way above where they used to be, we are all looking to stretch our dollar further. One of the major ways to achieve savings is to being thrifty when it comes to transportation. We all know that transport is vital to make a living for many of us – a $50 tank of petrol means earning $500 for the week as the saying goes. In Australia, petrol (gas) prices are much higher than in the US – if you’re considering a move to Australia, here are some ways to save on transportation if it’s eating into your weekly budget right now.
Riding a bike or e-bike
The easiest way to save on transport is to invest in a second-hand (or even new) road or mountain bike if you’re commuting short distances. eBikes or powered bikes can help you with some more mountainous terrain and allow you to go a little faster than pedal power alone. Hiring eBikes or scooters are also an option in large metro areas and can be hired by the hour to zip from A to B up or downtown.
Car Share if you can
Car sharing, either by hiring a car short-term (as in daily or hourly) from GoGet or CarNextDoor carpooling with others going to similar destinations such as Uber or DiDi can help you save on transportation costs. If you’re travelling interstate or long distances, it may only make financial sense to hire a car in that case, as cabs or Ubers can add up very quickly. Of course, you can take public transportation – in many states, pre-purchasing long-term passes can end up cheaper than buying daily or half-daily tickets.
Shop around for cars – consider visiting interstate dealers
If you’re in the market for a car, either new or used, you’ll need to shop around to get the best deal. That may also mean looking in nearby states for cars. Often, the cost of transporting a great new car into your state from elsewhere can make good financial sense.
Be prepared to sacrifice the hotted up new cars for something second hand, certified used, or an ex-demo model instead. They will have a lower sticker price – and if you find something with low miles on the clock, you could snap up a real bargain. As of 2023, wait times for new cars can blow out to weeks or months, which can also cost you more as you’ll have to rely on hiring Ubers or other alternatives.
Save on the back end with auto finance
When you’re making a new or used car purchase, you should do your homework when it comes to finance. Remember to check your credit report to see what kind of interest rate you may be entitled to and find out how much you can borrow. Don’t just go to your bank to get finance – shop around with different auto lenders. If you see a “0%” or “1%” finance deal from a dealership, there may be catches involved that will cost you more later on.
With all that in mind, plus a few tips from us here, you could save a lot of cash on transport!