Victoria's Andrews Labor Government has announced it will offer short-term payment options for vehicle registration from 1 January 2018.
With the annual fee now sitting at $800.80 for light vehicle registration, Victorians will soon have the choice of additional three-month or sixth-month options intended to help ease the cost-of-living pressures for millions of people.
Under the new scheme, owners of cars, utes, motorcycles and other light vehicles will have an average three month registration of $200.20 and six-month payment of $400,40.
The new short-term registrations, however, will not be available for trailers.
Currently, VicRoads processes around 5.6 million registration renewals each year, which includes 4.47 million light vehicles. In 2016, the Labor Government invested $12 million to upgrade VicRoads' registration systems, which has allowed for short-term payments to be made available.
Vehicle owners will be able to select the registration payment option that suits them by creating a myVicRoads online account, and set up electronic reminders for due dates.
"Having to find more than $800 once a year puts a lot of people under financial pressure – by introducing shorter term payments, we’re giving people a chance to spread the cost of owning a car out over the whole year," said Luke Donnellan, minister for roads and road safety.