At present, five hundred thousand Victorians choose to pay vehicle registration fees in short-term instalments in order to manage their living expenses. Since Andrews government proposed the new initiative last year, it has been popular, attracting many young people and giving people another option for cash management.
Most people who receive short-term instalments are between the ages of 26 and 34, and Marty, a 27-year-old Frankston student, says small instalments make her financial pressure less stressful and plans to spend more money in other ways are easier.
Paul Santamaria, director of customer service at VicRoads, said the move had reduced the number of unregistered vehicles by about 6000. And from January 1, 2018, owners of cars, vans, motorcycles and other light vehicles are allowed to pay registration fees in instalments of 3, 6 or 12 months.