What fees are required when purchasing a car?
3 Answers
The fees required for purchasing a car are as follows: 1. Base vehicle price: As the name suggests, the final transaction price of the vehicle. 2. Optional accessories fee: This may or may not apply, depending on the owner's choice. If you don't need additions like navigation, sunroof, or wheel modifications, you can opt out. 3. Purchase tax: This tax must be paid before vehicle registration and is typically processed at the local tax bureau, which usually has dedicated windows for purchase tax. 4. Registration fee: After paying the purchase tax, you can register the vehicle at the local vehicle management department for a fee of 120 yuan. 5. Insurance: Mandatory traffic insurance, which includes the vehicle and vessel tax, along with commercial insurance. Recommended commercial insurance options include vehicle damage insurance, third-party liability insurance, and no-deductible coverage.
Let me share some insights on buying a car. Besides the payment to the dealer for the car itself, you'll need to prepare for the purchase tax, approximately 10% of the car's price, which is mandatory by national regulations. Car insurance is crucial, especially comprehensive coverage, which might cost several thousand in the first year—it's vital for protecting yourself and others. The license plate fee is a one-time payment, varying by region but generally a few hundred yuan. The vehicle and vessel tax is an annual payment and relatively smaller. If you're opting for a loan or installment plan, don't overlook the interest and handling fees—sometimes these are negotiable. I also recommend budgeting for some decoration expenses like films or floor mats, but be cautious not to be upsold into buying too many unnecessary accessories. Overall, the total cost is significantly higher than the sticker price. A good practice is to clarify all items and calculate the total cost in advance to avoid financial strain later.
As a new car owner, I find the main costs quite straightforward. The car price is the base amount you must pay in full. The purchase tax is mandatory, collected by the tax bureau at about 10% of the car price—don't forget this. For insurance, I recommend comprehensive coverage for safety and peace of mind; the first year might cost over 2,000 yuan. The license plate fee is a one-time payment, quite cheap at just a few hundred yuan, though it varies by location. The vehicle and vessel tax is paid annually, but you'll pay for the current year when buying the car initially, which isn't much. Also, be wary of extra fees like handling charges or inspection fees—some dealers sneak these in, so ask clearly. Overall, if you budget for these major expenses, driving your car home becomes much easier, right?
