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On road costs

Starting to wonder how much deeper your pockets need to be? Well, on top of the purchase price of your car, you need to budget for 'on road' costs, which means your car is legally able to be driven on the road.

And three extra costs if your car is new:

Picked yourself up off the floor yet? Good. Just don't forget to budget for petrol!

If only they ran on fresh air…

The ongoing costs of running a car can burn a real hole in your pocket. Make sure you budget for your thirsty new friend. You should factor in petrol, new tyres, yearly registration and servicing. To see how to find the best value petrol, visit sites like www.motormouth.com.au.

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Why you might want car insurance

Yes, it's yet another expense you could do without, but you'd have to be either mad or very rich not to bother taking out some form of car insurance. Depending on the cover you choose, it can provide financial security if your car is involved in an accident, damaged or stolen. If you don't have car insurance you could personally have to pay for any damage you caused or even keep paying for a loan if your vehicle is stolen and never recovered. Imagine how gut-wrenching that would be. For a quote on how much insurance could cost for the type of car you're interested in, click here.

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