What do owner price and total car purchase price mean?
1 Answers
Owner price refers to the actual purchase price paid by the car owner, 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 car-related expenses: Vehicle purchase tax: Vehicle purchase tax is a tax levied on units and individuals purchasing specified vehicles within the country. It is determined by the ex-factory price and engine displacement of the vehicle, with the latest vehicle purchase tax rate being 10%. Motor vehicle insurance: Also known as auto insurance, it refers to a type of commercial insurance that covers liability for personal injury or property damage caused by natural disasters or accidents involving motor vehicles.