Caravan reg. is very cheap in Vic. so not worth the bother, although I have my own installment plan for car reg. By working one year ahead it's cheaper to DIY than pay someone else for the service:
1. Year 1 - When the reg. falls due, pay it as normal for one year, PLUS during the year also put one twelfth of the annual fee into a bank account each month to save for next year's reg. Seems like you're forking out for two years worth of reg. in Year 1 but if you can manage that first year hurdle you're ahead from Year 2, and you now have your own installment plan in place.
2. Year 2 - The monthly installments you've put by during Year 1 means you now have the funds to pay for the year 2 renewal when it falls due
3. Now keep putting one twelfth away every month, every year, and you will always have the funds to pay for the next renewal without the burden of lump sum payments.
Other benefits:
- You aren't paying these guys an extra $60 per year for their lay-by system
- The monthly funds you save up will earn interest (albeit stupidly modest!)
- You can set up automatic monthly transfers into your reg. account with online banking - no need to remember it every month
You can use the same process to self-manage your insurance payments, although my insurer offers monthly premium payments at no extra cost.
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Cheers,
Tony
"Opinion is the medium between ignorance and knowledge" - Plato
Seeing you have cross posted this I may as well cross post the best response on the other forum.
Tell me if I've got this right:
Let's say your rego is just paid and you struggled to find the money so you sign up with this program to ensure you have the money next year
Then you agree to pay a regular amount by direct debit from your bank account or credit card on either monthly, fortnightly or weekly instalments. You also pay them $60 a year for holding your money until the rego is due and then they pay it for you. If the direct debit is from you credit card, add 2.5% of the total rego to the fees charged
The good news is that you can add extra cars and trailers to your plan for the same $60 (but the 2.5% credit card fee would still apply)
So "Forget Reg" get all this money from you to invest while they hold it for you that also helps their bottom line
I think that's the guts of it, but I may have missed something such as comparing that scheme with paying your rego on your credit card and then not paying it by the due date which would cost a lot more than $60 a year
I'd like to think that having paid them for a year, they'd be there when the rego is due so I'd be asking who the hell are "Forget Reg"?
They must be legit because you read it on their website, right?
I reckon their name says it all - "Forget Reg" :lol:
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PeterD Nissan Navara D23 diesel auto, Spaceland pop-top Retired radio and electronics technician. NSW Central Coast.
I pay my car rego and caravan rego quarterly thru Qld Transport no need to worry they do it all for nothing and it's automatic, you get an e-mail about a month out from when it's due just to tell you they will take it of the bank
