What do owner price and total car purchase price mean?
1 Answers
Owner price refers to the actual price the owner paid for the car, which is the pre-tax price on the invoice. The total car purchase price equals the ex-factory price plus purchase tax, insurance, vehicle and vessel tax, license plate fees, and other costs. Below is an introduction to other fees: 1. Vehicle purchase tax: This is a tax levied on units and individuals purchasing specified vehicles within the country, determined by the ex-factory price and engine displacement of the vehicle. The latest vehicle purchase tax rate is 10%. 2. Motor vehicle insurance: Also known as auto insurance, it refers to a commercial insurance that compensates for personal injury or property loss caused by natural disasters or accidents involving motor vehicles.