Is the New Vehicle Purchase Price the Same as the Naked Car Price?
2 Answers
No, the new vehicle purchase price refers to the price of purchasing a new vehicle of the same type as the insured vehicle at the time the insurance contract is signed. If there is no market sales price for the same type of new vehicle, the price will be determined through negotiation between the policyholder and the insurer. Consumers need to calculate the purchase tax, add the naked car price and the total amount to determine the approximate standard for vehicle insurance premiums. Additional Information: 1. New Vehicle Purchase Price Insurance: Insuring based on the new vehicle purchase price, commonly known as full coverage insurance, ensures that the owner receives full compensation in the event of an accident. If the latter two insurance methods are chosen, the insurance company will compensate proportionally in case of an accident. If the customer opts to negotiate the insured amount for vehicle damage insurance within the new vehicle purchase price with the insurer, future claims related to vehicle damage will be settled proportionally. 2. New Vehicle Purchase Tax Price: The new vehicle purchase tax is calculated at 10% of the new vehicle purchase price (excluding tax). There are two methods: one is based on the invoice price, which is the actual payment price divided by 1.17, converted to a tax-excluded price, and then multiplied by 10% (or 7.5%). The other method involves a minimum taxable price in the vehicle purchase tax system. If the invoice price is higher than the minimum taxable price, the invoice price is used; if it is lower, the minimum taxable price is applied.
I was really confused when I first bought a car. The total purchase price of a new car is definitely not the same as the ex-factory price, which is just the basic price tag set by the manufacturer and doesn't include anything. The total amount I paid had to include additional expenses like purchase tax, compulsory traffic insurance, commercial insurance, and license plate fees, which added up to at least 20,000 to 30,000 yuan. The purchase tax alone accounts for about 10% of the ex-factory price, not to mention the vehicle and vessel tax and the decoration packages offered by 4S stores—it's really frustrating. I suggest that first-time buyers check the official ex-factory price first, then use a calculator to estimate the total cost. Don't be fooled by salespeople who only show you the lower quoted price. This way, you can budget in advance and avoid a financial shock when picking up the car. By the way, many manufacturers now offer free maintenance services, but these still require payment later on. In short, understanding this difference can save you a lot of unnecessary expenses and ensure every penny you spend is clear and justified.