Posted by
gaz_hayes
15 yrs ago
Hi Guys,
I was wondering if anyone can give me some real world examples of the cost of maintaining a car in HK?
Including taxes, fuel, etc?
I'm thinking about picking up a 2nd hand car, something fairly small maybe a golf or civic or something. I heard there are different taxes depending on engine size but I'm not sure what the cut off is exactly, and the cost of 3rd party insurance etc.
I don't need specifics for the above mentioned cars but just your own experiences with whatever you own.
Thanks!
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- Tax. Depends on size of engine. A few thousand a year unless you have a big engine. We have a three liter BMW and I think we pay 4500 a year. Can't remember exactly. There is no single cut-off but 4-5 "tax brackets". The Transport Department website is such a mess I can never find this info but any dealer would know.
- Insurance. I think we pay something like 7k a year for third party for the aforementioned BMW, which is ten years old.
- Fuel. Petrol is 14 something per liter. On the other hand distances traveled tend to be very short compared to what one would see in the west, so the fuel bills haven't been shocking. We fuel up every couple of weeks and it is around 700. Of course this very much depends on how much you drive.
- Parking. Can vary widely but needs to be factored in. For example if you want to park daily in Central you're looking at 3k+ per month.
- Maintenance. Tends to be fairly cheap. A few thousand a year unless there are any particular issues.
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Obviously insurance depends on NCB etc. I pay 1k/annum for a Lexus SUV.
Car tax is around 7k a year for most cars.
Unless you have kids it is generally cheaper to take taxis than to own & run a car.
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btw - there are v.v.few small cheap 'run around' models available in HK...the locals just don't like them. Too much money.
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Road license fees here http://www.td.gov.hk/en/public_services/fees_and_charges/index.html
Insurance between 1 - 3k for normal car.
Parking variable, don't forget tunnel fees.
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Cost of car rego for various engine sizes.
http://www.td.gov.hk/en/public_services/fees_and_charges/index.html#vehicle
Price of fuel
http://www.shell.com.hk/home/content/hkg-en/products_services/on_the_road/fuels/price_board/
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vak
15 yrs ago
a golf type car with an engine below 2.o lit , about 4-6 yrs old will cost you, 5500 a year in road tax (over 2500 and below 3200 is 7800 and above that about 9500, 1500/yr in 3rd pty insurance if its a 5 door and you are over 35, about 3000 to 4000 a year in preventive maintenance if you did about 500-800k/month. Ins starts at 2600/yr from local providers for a typical 5 door car and they give you a starting NCb of 10%. which goes up to a max of 60%. If you owned one overseas with NCB that can be transferred here as well. Insurers have loading for 2 door cars, convertibles or young drivers.
Parking can be 500/m in the NT or 4000/m in CENTRAL. Tunnels and fuel/hourly parking depend on the useage and location you use it for. I drive about 40000kms a year as my work takes me all over HK. Fuel is the biggest cost. Fuel comes closer to 16/litre unless you get it from SINOPEC.
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If you are single, you don't need a car in HK as local transport is fantastic. With a spouse and children to drive around at weekends - its worth it.
Costs are Vary - yearly registration, insurance, maintenance, MOT, parking, fuel, toll and traffic tickets. Costs on car registration varies as per engine size. 2.5 litter 4 cylinder makes economic sense. Any higher and you are paying more in terms of registration and fuel costs. Traffic in HK moves at a snails pace which is responsible for cars sipping most of your gas and adding to pollution. If you are single, use public transport - much much cheaper.
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