What is the difference between a corporate and private vehicle registration?

[McBeckett]

Here are the differences between corporate and private vehicle registration: 1. Different documents required for registration: (1) Corporate registration requires a business license, IC card, code certificate, capital verification report, etc. (2) Private registration only requires an ID card; if the registrant is from another region, additional documents such as a household registration certificate and temporary residence permit are needed. 2. Different payment responsibilities: (1) For corporate-registered vehicles, the company should pay the purchase price. (2) For privately-registered vehicles, the individual must pay the purchase price. 3. Different ownership of the vehicle: (1) Corporate-registered vehicles belong to the company, and the vehicle registration certificate will display the company's name, meaning the vehicle is the legal property of the company. (2) Privately-registered vehicles display the individual's name on the registration certificate and are considered private property.

[VonGabrielle]

I remember doing thorough research on the difference between company-owned and privately-owned vehicles when purchasing my car. Company-owned means the car is registered under a company's name, with ownership belonging to the company, while privately-owned means it's entirely yours as an individual. The biggest differences lie in taxation and usage. The advantage of a company-owned vehicle is that the company can reimburse most expenses like insurance and fuel, and it can reduce corporate tax through depreciation or VAT deductions. However, it must strictly be used for business purposes, and personal use requires reimbursement or may be considered non-compliant. A privately-owned vehicle is entirely your personal asset, with all expenses borne by you and no tax benefits, but it offers complete freedom of use—like road trips with family without any restrictions. When purchasing, a company-owned vehicle requires the company to provide a business license and relevant registration documents, while a privately-owned vehicle only needs a personal ID. I chose a privately-owned vehicle because I don’t run a business, making it simpler and hassle-free. Maintenance and insurance costs are fairly similar, though company-owned vehicles might be slightly cheaper due to bulk purchasing.