The cost of keeping a car is an important factor to keep in mind before buying a car, because the fees for using a car can be up to hundreds of millions a year.
Currently, to raise a car requires a lot of fees. There have been many cases of just paying attention to the price of a car but not the cost of using the car, leading to financial pressure after buying. Therefore, before buying a car, in addition to finding out the selling price, you should also refer to the monthly and annual costs of car maintenance.
Fees for using a car
In order for a car to circulate on the road, it is required to go through a periodical inspection.
- Registration fee for car registration under 10 seats is currently 340,000 VND / time.
Depending on the year of manufacture, the period for periodical inspection of the vehicle will vary. For cars with less than 9 seats, there are the following periodical registration milestones: 18 months (vehicles manufactured under 7 years), 12 months (vehicles manufactured from 7 to 12 years), 6 months (vehicles manufactured over 12 years) year and vehicle transport business).
Road maintenance fee
The road maintenance fee is a mandatory fee as regulated.
- Road maintenance fee is currently 130,000 VND / month.
This fee can be paid according to the term of the registration cycle such as: 6 months, 12 months, 18 months …
Civil liability insurance premium
Civil liability insurance (TNDS) is a category car insurance it is imperative that the owner of the car be purchased according to regulations. The current insurance price is:
- Cars with under 6 seats: 437,000 VND / year
- Car from 6 – 11 seats: 794,000 VND / year
- Vehicles with under 6 seats for transport business: 756,000 VND / year
- 6-seater vehicle for transport business: 929,000 VND / year
- 7-seater vehicle for transport business: 1,080,000 VND / year
- 8-seater vehicle for transport business: 1,253,000 VND / year
Physical insurance premium
Material insurance is insurance for material damage (machinery, body shell …) caused by an accident that is out of the car owner’s control. This is voluntary auto insurance, which is not required by car owners. However, because the car’s cost of fixing the physical damage is quite high. So to prevent risks, most car owners buy physical insurance for their cars.
- The average price of material insurance is from 5 – 30 million VND / year or more depending on the amount insured, the type of vehicle, the duration of the vehicle …
Maintenance and repair costs
For a smooth and durable car operation, it is necessary to check and periodically maintain the car manufacturer’s car maintenance schedule. Each vehicle will have different maintenance costs. Usually the higher the price of a vehicle, the higher the maintenance cost. Old luxury cars have higher maintenance costs than popular cars.
- Car maintenance costs range from several hundred to several million dong depending on the level of maintenance
In addition to the maintenance cost, the owner may have to pay additional repairs if the car has a problem.
- Car repair costs range from several million to several tens of million dong depending on the level of damage
The cost of gasoline will depend on the type of vehicle used and the distance traveled. For example, Class B sedans have an average consumption of 6 – 7.5 liters of gasoline / 100 km. If each month goes about 1,000 km, the price of gasoline is about 1.2 – 1.6 million VND.
When a car goes through BOT toll booths, a ticket must be purchased. Depending on the route, the fare through the BOT stations will vary. With cars under 12 seats, the fare through the station is popular at 35,000 – 60,000 VND / time.
The parking fee for a car in some restaurants is usually around VND 20,000 / time. Parking fees on the roadbed on some allowed roads are currently about 25,000 – 40,000 VND / hour. The parking fee in the basement of the commercial centers is about 35,000 VND / the first 2 hours, each subsequent hour is 20,000 VND / hour. On average, a car parking fee takes a few hundred to a million dong a month.
In addition, if there is no parking space in the home, the owner will have to pay a monthly parking fee. The current monthly car parking fee is 1-2 million VND / month depending on the quality of the facilities of the parking lot.
The cost of raising a car for 1 year
Small cars are usually A-class hatchbacks (Kia Morning, Hyundai i10, Toyota Wigo…), class B vehicle (Toyota Vios, Mazda 2, Honda City, Hyundai Accent…). These are the models with the lowest operating costs. Because of the low cost of gasoline (due to the use of small engines), low maintenance costs …
The cost of raising a small car is on average 3-4 million VND / month, 40-50 million VND / year.
The lines of mid-size cars are usually those sedan car Grade C (Mazda 3, Kia Cerato…), high-class C (Hyundai Tucson, Mazda CX-5…), class D sedans (Toyota Camry, Honda Accord…), 7-seat SUV Grade D (Toyota Fortuner, Ford Everest…).
Compared with small cars, the cost of raising medium cars is higher due to higher fuel costs (using large capacity engines, heavy vehicle weight), higher maintenance costs …
The average cost of raising a car is about 4 – 7 million VND / month, 50 – 90 million VND / year.
Luxury cars are commonly seen as small sedans (Mercedes C180 – C200 – C300, Audi A4, BMW 320i – 330i…), mid-size sedans (Mercedes E200 – E300, Audi A6, BMW 520i – 530i…), large sedans (Mercedes Maybach, Audi A8 …), small SUV (Merccedes GLC 300, Audi Q5, BMW X3 …), mid-size SUV (Mercedes GLE, Audi Q7, BMW X5 …) …
The cost of keeping a luxury car is quite expensive. In which the most notable is the high cost of maintenance, spare parts replacement and repair. The reason is that the cost of maintenance services, genuine parts of luxury cars is already high, in addition to the “strict” maintenance schedule for luxury cars compared to ordinary cars. Usually the higher the price of a luxury car, the more complicated it is to maintain, resulting in higher maintenance costs.
Besides, the fuel cost of luxury cars is also much higher than that of ordinary cars. The reason is that luxury cars often use high-efficiency engines.
The cost of raising a luxury car is on average 10 – 15 million VND / month, 120 – 150 million VND / year.
The cost of raising old cars
The cost of keeping an old car is the same as above, but there are some differences compared to a new car:
The cost of maintenance and repair is higher
Maintenance and repair costs of used cars will be higher. Because the old car has passed the genuine warranty period. The longer the use time, the more spare parts and components that need to be replaced, the higher the possibility that the car will have problems or damage, especially deep old cars, 10 years old cars. Therefore, the older a car is, the higher its maintenance and repair costs will be.
Physical insurance costs higher
The percentage of car’s physical insurance premiums will gradually increase over time. For example, the premium rate for vehicles manufactured under 3 years will be lower than for vehicles manufactured for 3-6 years.
The cost of gasoline / oil is higher
Due to the gradual deterioration of the machinery system, older cars will often consume more gas than newer cars.
With a car, the story of buying a car is not as important as the story of the car. Therefore, before deciding to buy a car, it is necessary to carefully understand the costs of using a car.