I bought a new car last year which is a kia rio lx hatch back which cost me $15990 drive away(no more to pay.. stamp duty, delivery charges etc..all included) + $300 for metallic paint. Car Maintenance which comprise of change oil, oil filter check up etc would cost around $180 from the dealer.. if have it serviced from other auto shop with dealer warranty stamp would cost around $110-130 have to look for a good deal.

Recently received a letter from Vicroads( a government agency that manage land transportation in Melbourne) the renewal of the car registration which cost me $570.. I was really surprised that it cost that much just to renew a car registration because from other countries it would only cost 1/4 or around $100…

Motor vehicle registration (renewal) The cost of motor vehicle registration renewal will vary depending on the vehicle type and the postcode of the vehicle’s garaged address.  The following is an example only:Light motor vehicle – metro area
Registration renewal fee: $612.30

My motor vehicle is garaged at a farther suburb from city so it cost less.

Car Insurance is also costly.. They base the premium/price from what rating you have..they would quote you much more expensive premium if you have a lower rating.

Rating 1 = 5+ years NCD (NCD means No Claims Discount)

Rating 2 = 4 years NCD

Rating 3 = 3 years NCD

Rating 4 = 4 years NCD

Rating 5 = 5 years NCD

The lower the rating you have the lower premium/price will be… 5 years and up no accidents or claims gets you a better price.

The summary expenses of having a car at an +/-average cost:

Annual car registration = $ 600

Maintenance  $150×2= $300 ( 2x a year change oil etc depends how many times you want to change it.. every 5,000km-10,000km etc

Insurance = $700  ( base from rating 1)

Petrol  $200×12= $2,400 ( depends on your petrol consumption…. my average consumption is at $200 a month)… the petrol consumption would be lower/ cheaper if we stepped on the gas more lightly or slowly.. not too hard.. just smooth acceleration will do.. to lower the petrol consumption.

Total cost around $4000 a year    + other wear and tear of car parts like tires etc… but I havent got into them yet since the car is new… the average life or wear and tear of car is around 3-4 years depends on the usage of the car though.

Make cheap calls to landlines and mobiles – Buy SkypeOut credit here

Good news for us First Time Home buyers because FHOG supposed to be ending on June 30, 2009 instead it was extended and an increased bonus for Victoria area for off the plan or newly built homes… It is 26k till June 30, 2009 but it will increase into 32k starting July 1, 2009 till so the best  logical thing to do is to wait and do the contract signing for the building contract after June 30, 2009 to be able to get the 32k.

Here are the detailed information below regarding the FHOG and schedules:

Australian Government Budget 2009-2010 – First Home Owner’s Boost extended

The Australian Government has announced a six month extension to the First Home Owner’s Boost Scheme as part of it’s 2009-2010 Budget initiatives.

First home buyers entering into contracts between 1 July 2009 and 30 September 2009 will continue to be eligible for the Boost of $7,000 for the purchase of an established home, and $14,000 for the purchase of a new home.

The Boost will halve for purchasers that enter into contracts between 1 October 2009 and 31 December 2009. This means that purchasers of established homes will be eligible for $3,500 and purchasers of new homes will be eligible for $7,000.

The extension to the Boost comes one week after the changes announced by the Victorian Government in regard to the First Home Bonus (see below).

First Home Bonus Increased for new homebuyers

The Victorian Government has announced an increase in the First Home Bonus for new homebuyers.

From July 1 2009 the First Home Bonus will entitle eligible home buyers to a payment of $2,000 for established homes or $11,000 for new homes.

The Bonus previously provided $3,000 for established homes and $5,000 for new homes. The First Home Bonus will be available for the purchase of homes under $600,000.

Premier John Brumby said today the new package was aimed at helping Victorian families into their own homes sooner by offering $22,500 for first home buyers purchasing a new home in regional Victoria, $18,000 for a new home in metro Melbourne and $9000 for an existing home as of 1 July this year.

VICTORIAN FIRST HOME BONUS INCREASED FOR NEW HOMES
An extension of the Victorian Government’s First Home Owner Scheme and an increase in the First Home Bonus for new homes will create thousands of jobs, boost the economy and make buying a first home even more affordable for Victorians.
Premier John Brumby said today the new package was aimed at helping Victorian families into their own homes sooner by offering $22,500 for first home buyers purchasing a new home in regional Victoria, $18,000 for a new home in metro Melbourne and $9000 for an existing home as of 1 July this year.
“The Victorian Government continues to make it easier for Victorians to buy a home and raise a family,” Mr Brumby said
“The changes to the First Home Bonus will create more homes and more jobs.
“The Housing Industry Association has estimated the boost to the first home owner’s package for new homes would secure an extra 3600 jobs over the next three years, generate around $1.3 billion of additional housing activity and result in an extra 4300 homes being built.
“It will build on this Government’s successful existing bonus scheme that has resulted in Victoria recording almost one in three housing starts in Australia in the December quarter and almost 32,000 people purchasing a first home in Victoria in the last 12 months. About 10,000 of these were in the three months to February this year alone.”
The changes to the size of the bonus will be coupled with an increase to the cap on the Bonus which now means that first home buyers purchasing a property up to the value of $600,000 will now be eligible for the Bonus.
Mr Lenders said the Victorian Government would invest $125 million to boost the scheme for an additional year.
“The best driver of affordable housing for both homebuyers and renters is a good supply of housing and this package encourages people to build new homes in Victoria,” Mr Lenders said.
“We have already paid over $3.2 billion worth of grants to help Victorians into their first homes since the scheme began.
“This increase will also help to create jobs, stimulate the economy and lessen the effects of the Global Financial Crisis.
“This is one of the most generous grants package available to first home buyers of newly constructed homes in any Australian State or Territory and now more people will be eligible for out fantastic bonus.”

First Home Buyers – Overview – What amounts are available?

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If you are a first home buyer you may be entitled to receive the First Home Owner Grant (the Grant), the First Home Bonus (the Bonus), and the First Home Owner Boost (the Boost). A regional bonus (in addition to the above) is also available for those entering into contracts between 6 May 2008 and 30 June 2010 (for the purchase or construction of a new home in a regional municipality in Victoria). Entitlements under the Boost Scheme are only available for those entering into contracts (to buy an established home or buy/build a new home) between 14 October 2008 and 31 December 2009. The following provides an overview of the amounts that a first home buyer may be eligible to receive under the different schemes. First Home Owner Grant The First Home Owner Grant provides first home buyers that satisfy the eligibility criteria with a $7000 grant. This $7000 grant is not means-tested nor is it restricted by the price of the property for contracts entered into up to 30 June 2009. For contracts entered into from 1 January 2010 to 30 Jun 2010 the value of the property must not exceed $600,000. The Grant is an on-going scheme with no end date yet specified. Further information about the First Home Owner Grant and eligibility criteria First Home Bonus 1 May 2004 to 30 June 2009 (Contract Date) If you are eligible to receive the Grant, you may also be entitled to receive an additional payment of $3,000 (for established homes) or $5,000 (for new homes only), which is known as the First Home Bonus (the Bonus). To be eligible to receive the Bonus, the purchase price of the property must not exceed $500,000. 1 July 2009 to 30 June 2010 (Contract Date) If you are eligible to receive the Grant, you may also be entitled to receive an additional payment of $2,000 (for established homes) or $11,000 (for new homes only), which is known as the First Home Bonus (the Bonus). To be eligible to receive the Bonus, the purchase price of the property must not exceed $600,000. Further information about the First Home Bonus. Regional Bonus 6 May 2008 to 30 June 2009 (Contract Date) For contracts entered into for the purchase or construction of a new home in a regional municipality in Victoria, an additional $3000 bonus is also available (in addition to the $5000 bonus). 1 July 2009 to 30 June 2010 (Contract Date) For contracts entered into for the purchase or construction of a new home in a regional municipality in Victoria, an additional $4500 bonus is also available (in addition to the $11,000 bonus). Further information about the Regional Bonus. First Home Owner Boost The First Home Owner Boost, which was launched by the Australian Government, supplements the Victorian Government funded First Home Owner Grant of $7,000. The Boost provides: 14 October 2008 to 30 September 2009 (Contract Date) an extra $7,000 to first home buyers who purchase an established home; and an extra $14,000 to first home buyers who build a new home or purchase a newly constructed home. 1 October 2009 to 31 December 2009 (Contract Date) an extra $3,500 to first home buyers who purchase an established home; and an extra $7,000 to first home buyers who build a new home or purchase a newly constructed home. Further information about the Boost A table, which sets out the different amounts that first home buyers in Victoria may be eligible for, is shown below. Contract Date Conditions First Home Owner Grant (FHOG) New First Home Owner Boost First Home Bonus # First Home Owner Regional Bonus # Total From 1 January 2010 to 30 June 2010 Note: This information has been taken from the Premier’s announcement on 6/5/2009 and the 2009-2010 Federal Budget. This information is subject to legislative approval. Established homes only $7,000* $0.00 $2,000 $0.00 $9,000 Newly constructed homes in Metropolitan Victoria only $7,000* $0.00 $11,000 $0.00 $18,000 Newly constructed homes in Regional Victoria only $7,000* $0.00 $11,000 $4,500 $22,500 From 1 October 2009 to 31 December 2009 Note: This information has been taken from the Premier’s announcement on 6/5/2009 and the 2009-2010 Federal Budget. This information is subject to legislative approval. Established homes only $7,000 $3,500 $2,000 $0.00 $12,500 Newly constructed homes in Metropolitan Victoria only $7,000 $7,000 $11,000 $0.00 $25,000 Newly constructed homes in Regional Victoria only $7,000 $7,000 $11,000 $4,500 $29,500 From 1 July 2009 to 30 September 2009 Note: This information has been taken from the Premier’s announcement on 6/5/2009 and the 2009-2010 Federal Budget. This information is subject to legislative approval. Established homes only $7,000 $7,000 $2,000 $0.00 $16,000 Newly constructed homes in Metropolitan Victoria only $7,000 $14,000 $11,000 $0.00 $32,000 Newly constructed homes in Regional Victoria only $7,000 $14,000 $11,000 $4,500 $36,500 From 14 October 2008 to 30 June 2009 Established homes only $7,000 $7,000 $3,000 $0.00 $17,000 Newly constructed homes in Metropolitan Victoria only $7,000 $14,000 $5,000 $0.00 $26,000 Newly constructed homes in Regional Victoria only $7,000 $14,000 $5,000 $3,000 $29,000 From 6 May 2008 to 13 October 2008 Established homes only $7,000 $0.00 $3,000 $0.00 $10,000 New homes in Metropolitan Victoria only $7,000 $0.00 $5,000 $0.00 $12,000 New homes in Regional Victoria only $7,000 $0.00 $5,000 $3,000 $15,000 From 1 January 2007 to 5 May 2008 Established homes only $7,000 $0.00 $3,000 $0.00 $10,000 New homes only $7,000 $0.00 $5,000 $0.00 $12,000 From 1 January 2006 to 31 December 2006 Established and New homes $7,000 $0.00 $3,000 $0.00 $10,000 From 1 May 2004 to 31 December 2005 Established and New homes $7,000 $0.00 $5,000 $0.00 $12,000 * Additional Conditions: To be eligible to receive the FHOG, for contracts entered into between 1 January 2010 and 30 June 2010, the value of the property must not exceed $600,000 # Additional Condition: To be eligible to receive the Bonus and Regional Bonus for contracts entered into up to 30 June 2009, the value of the property must not exceed $500,000. For contracts entered into between 1 July 2009 to 30 June 2010, the value of the property must not exceed $600,000 The information provided in the above table is to be used as a guide only.