The Economics of Owning a Second Car In Australia

This video breaks down the true cost of owning a second car in Australia in 2026. It covers loan repayments, registration, insurance, fuel, servicing, depreciation and cost per kilometre, then walks through a simple test to decide if your household really needs 2 cars. Chapters: 0:00 Second Car Cost in Australia 0:43 Household Transport Costs 2026 1:21 Small Car Running Costs (RACQ 2025) 2:06 2026 Fuel Prices and Car Running Costs 3:01 Car Depreciation Explained 3:33 What a Paid-Off Second Car Still Costs 4:02 Cost Per Kilometre for Low-Use Cars 4:58 Money Psychology: Why Families Keep a Second Car 5:35 Opportunity Cost: Second Car vs Investing 6:24 How to Decide If You Need a Second Car 7:30 When a Second Car Makes Financial Sense Check out the channel's playlists for more videos on money psychology, mindset, wealth habits, and financial minimalism and subscribe if you want to keep rewiring how you think about money. Money Psychology → https://www.youtube.com/playlist?list=PLN66gMJbnUcA Money Mindset → https://www.youtube.com/playlist?list=PLbo1A8amxkcQ Money Habits → https://www.youtube.com/playlist?list=PLWz-j5c1YKK0 Stealth Wealth → https://www.youtube.com/playlist?list=PLdyBYeaUYlsg Classic Wealth Books → https://www.youtube.com/playlist?list=PLIr4oHgSND94 How to Get Rich → https://www.youtube.com/playlist?list=PLbFi5lqftlNI Spend Less, Want Less, Feel Richer → https://www.youtube.com/playlist?list=PLfvzXIM6rxU8 Legal Disclaimer: This video is general information only and is not financial, tax or legal advice. It does not consider your objectives, financial situation or needs. Running costs use RACQ's 2025 Queensland figures, and fuel prices change weekly. Investment returns shown are an illustrative assumption only and are never guaranteed. Speak with a licensed financial adviser before making financial decisions. 💬 Creator’s Note: Each video on this channel takes a lot of time to write, narrate, and animate with care. Yes, I use AI tools to help with voiceovers and visuals, but every message, script, and idea is crafted with intention and love, so you can understand money clearly and feel empowered to change your life. Thank you for being part of this project. 💛 #Secondcaraustralia #carcostsaustralia #personalfinanceaustralia