Victoria has introduced new options when it comes to paying for the yearly car registration bill.

Since January last year, more than one million drivers have taken advantage of the new system, which allows the cost to be spread out into several payments instead of one annual fee.

Annually, the average cost of a car registration in Victoria is $800.80, but spreading it out into two payments is $400.40 or four payments of $200.20.

The three month option has proved to be the most popular. Acting Premier Tim Pallas has spoken out about the success of the new system.

“The first year of short-term registration has been a huge success, helping more than a million Victorians spread the cost of car rego over the year.”

“Having to find more than $800 once a year puts a lot of people under financial pressure – by introducing shorter term payments, we’ve given people a chance to factor more manageable payments into their family budgets.”

Gold 104.3 Melbourne