Since the Victorian Government introduced three-month and six-month registration options on January 1 last year, about a quarter of all vehicle registrations have been short-term.
That means 1.3 million residents state-wide have signed up to a shorter term, and it is paying off for locals like Echuca’s Elaine Henery who said more options have helped her budget her expenses.
“It’s a terrific idea, being a pensioner it’s easier to budget for the payment each month (in three-month blocks) rather than paying it all at once,” she said.
“I’ve got one car and you get a letter about six weeks before it’s due, so it makes it a lot easier.
“I’ve even got my daughter onto it, she’s got two cars and a little fella so it’s better for her too.”
And Elaine isn’t alone in her choice as the three-month registration was the more popular option state-wide with 770,743 registrations compared to 542,693 Victorians who opted for six months.
Acting Victorian premier Tim Pallas said the first year had proved “a huge success”.
“Having to find about $800 once a year puts a lot of people under financial pressure - by introducing shorter term payments, we’ve given people a chance to factor more manageable payments into their family budgets,” he said.
More men opted for shorter registration periods, with the total take up of three and six-month registration sitting at 54 per cent males and 46 per cent females.
And overall, short term registration proved most popular with the 26-35 age group.
VicRoads chief executive Michael Malouf said customers taking up short-term registration can return to 12-month payments any time their next registration is due, allowing them to move the financial burden to a quieter time of the year.
“With shorter registration periods and the online services provided through myVicRoads, we are helping make life easier for Victorians,” Mr Malouf said.
To find out more about short term registration, or to see if your vehicle is eligible, visit vicroads.vic.gov.au
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