Increase in ACT rego in last 12 months

We have it so easy (and cheap!) here. Think yoursleves lucky, in the UK there is no CTPI, and everyone is at the mercy of the insurers.

A learner driver has been quoted a staggering £17,000 ($29,745.33 AU) to insure his £2,000 ($3,499.10 AU) Vauxhall Corsa.(Holden)

Student James Hayes, who turns 17 next week, saved for months to buy his modest one-litre car but has been astonished at the sky-high quotes for insurance.

He will have to work flat out over the summer to pay the premiums.

Read more: http://www.dailymail.co.uk/news/article-1298150/17-000-insure-teenagers-car.html#ixzz0v19PIClh

perhaps the people should not complain. Taxi registration went by $1200.oo, that is now $7700 for a station wagon to be registrered.

Car ownership in Singapore:

Ten year certificate of entitlement: Via auction, generally around $5000 for a car.
Import duty: 41% of the vehicle’s value.
Registration fee: 110% of the vehicle’s value.
Road tax: Can be levied via numerous means, one of which is engine capacity. Depending on fuel type and vehicle age this can be anywhere from ~$1.25/cc to ~$4.25/cc.
Road tax surcharge: A few hundred dollars, just to kick you when you’re down.
There’s probably something else crippling in there that I’ve missed too.

This is all completely irrelevant to Australian conditions obviously. I guess I shouldn’t give anyone any ideas…

Think yourself lucky.

In the UK you will pay £ 190.00 ($343) for a car over 1600 cc, and for that you get? A sticker for your windscreen. Nothing else.

Everey year, for a car over 5 yrs old you HAVE to have a MOT test £54 ($94) (similar to, but more detailed than a rego check)

I’m a 50 + yr old man with a clean record and 35 years driving experience, my 3 rd party insurance would be around £ 240.00 per year ($433). (If you are under 25 you will pay $$$$ thousands)

The very basic roadside assistance cover would add another £ 28.00 ($50)(Though you’d have t tripkle that to have cover worth having.)

Total (not including the MOT) $846….

grump said :

just compared NSW prices for a green slip and between 7 suppliers the fee varies between $303 and $336 for the vehicle I have compared with $448 from the NRMA here in Canberra. What is it about the ACT market, apart from operator greed, that means we pay up to $145 more than someone who lives in Jerrabomberra or Qnbyn?

So we pay an extra $145 for other road users to say “bloody Canberra drivers”

Because by increasing production and lowering prices until they reach a level of output at which marginal revenue equals marginal costs, monopolies’ profits are maximised?

That doesn’t apply here though, because the level of output is essentially fixed (since all registered cars are required to purchase the 3rd party insurance).

I believe in this case the price is negotiated between the insurer and the government.

Thanks folks (dtc #3 & taninaus #4). It still feels as though we’re being squeezed for all we can be by an unopposed entity that is limited only by their own imagination. I’d still like to see a little competition to balance the field.

Oh, and #12 Mr Evil not only by name, eh? I see you hold the spoon in one hand and the pot in the other……stirring. Truly deserving of the tag ‘Agitator’.

Could you explain to me why you think a company holding a monopoly over a market has any incentive at all to reduce prices?

Because by increasing production and lowering prices until they reach a level of output at which marginal revenue equals marginal costs, monopolies’ profits are maximised? It’s not socially optimal, and creates a deadweight loss, but if you’re the monopoly, who cares?

Doesn’t it have something to do with all the ambulance chasing lawyers taking NRMA to the cleaners all the time?

just compared NSW prices for a green slip and between 7 suppliers the fee varies between $303 and $336 for the vehicle I have compared with $448 from the NRMA here in Canberra. What is it about the ACT market, apart from operator greed, that means we pay up to $145 more than someone who lives in Jerrabomberra or Qnbyn?