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How much does it cost to own a car in HK?

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  1. #1

    Join Date
    Feb 2007
    Location
    Hong Kong
    Posts
    6

    How much does it cost to own a car in HK?

    Hi Everyone,

    I've always wanted to buy a second hand car as there are lots and cheap ones around. The only worry is that a lot of my friends tell me it's very expensive to have a car in HK. They said it's like paying for one more flat (parking area).

    Can anyone please tell me how much is the average cost for car maintenance, parking, insurance and etc. I really don't have any idea. I just want to buy a car so that it'll be convenient to go out with my children ( a new born and a 14 month old) on family days.

    Appreciate your help guys.

    Thanks!


  2. #2

    Join Date
    Jun 2007
    Location
    Ex Sai Kunger Sunny Qld for now
    Posts
    8,318

    For our 1 owner 2001 Toyota 8 Seater Van.

    Insurance and annual road tax = $11,500K.

    Fuel bill per month = $1600

    Home Parking = Free ( we own it )

    External parking ( shopping & leisure outings ) = monthly $300 average

    Maintenance services per year = $2500 ( doing it myself, properly )

    and thats about it

    Total vehicle costs per year
    ----------
    $36,800

    Last edited by Skyhook; 19-06-2007 at 07:12 PM. Reason: addition

  3. #3

    Join Date
    Aug 2005
    Location
    Clear Water Bay (In Da Jungle)
    Posts
    9,968

    Owning a car in HK can be cheap or off the charts, if your living in the city then just the parking fees could be a couple of thousands and thats just at your house.

    i drive a 1998 Prado 3500cc so my yearly road tax is nearly 8 thousand, my 3rd party insur is $1900, montly fuel is 3-5K depending on how much i drive, parking at my office is 140 per day or 70 at the border, tunnel fees 200 - 400 per month. Holy crap i spend so much on my car, i think i spend around 8 thousand a month and thats not including maintenance. my car does not need that much, just oil change every 4-5 months which costs around 1K.


  4. #4

    Join Date
    Mar 2007
    Location
    HK
    Posts
    137

    car costs

    Hi,
    I am reading all the post about car costs, etc. I was wondering if the SMART Cars are available in HK, I have not seen any advertised. They are so gorgeous would not use much petrol and the registration would not be too much either? Does anybody own one of these?


  5. #5

    Join Date
    Nov 2003
    Location
    Not friggin' Lamma no more!
    Posts
    2,181
    Quote Originally Posted by msmelbourne:
    Hi,
    I am reading all the post about car costs, etc. I was wondering if the SMART Cars are available in HK, I have not seen any advertised. They are so gorgeous would not use much petrol and the registration would not be too much either? Does anybody own one of these?
    Take your pick....

  6. #6

    Join Date
    Mar 2007
    Location
    HK
    Posts
    137

    car

    thank you, smörgåsbord!!!
    how do i know where this place is????


  7. #7

    Join Date
    Feb 2007
    Location
    Hong Kong
    Posts
    6

    thank you all for the reply.. now i know i have to think twice, no, thrice or more before I get myself a car

    Any other car owner care to share his/her car expenses?


  8. #8

    Join Date
    Jul 2006
    Location
    Mong Kok
    Posts
    97

    My car is costing me too much :P I drive a 2006 Audi A4, I dont remember how much the annual license fee is. The monthly carpark rent alone is $4,100 and then I pay about $2,000 a month on fuel, another $1,000 a month on tolls, $10,000 annually for insurance... the list goes on. However, its a great luxury - one I wouldnt want to be without Also it really does depend on several factors; if you live in an area where the car park rental is cheap and you dont need to drive much then it shouldnt be too expensive at all.

    Last edited by nickvv; 25-06-2007 at 02:20 AM.

  9. #9

    Join Date
    Mar 2007
    Location
    Ap Lei Chau
    Posts
    12

    A car in HK? Unless you have money to burn!

    HK has an excellent public transport network and cheap taxis. As far as I am concerned it does not make sense to get a car here. The calculation below shows why.

    The approximate cost of a car/month in HK (in HKD):
    - depreciation of car ca. 4,000
    - petrol ca. 2,000
    - parking at home 3,600
    - parking when outside ca. 1,000
    - insurance and annual road tax ca. 950
    - tolls (ca. 300)
    --------------------------------------------------------
    that's a whopping HKD 11,850!!!

    Even if I took the taxi every day to work and back and also to the beaches on Sunday it would merely amount to HKD 4,340 (i.e. HKD 70 x 2 x 31, I live on island south)
    Also, when I take a taxi, I can sit back and relax, don't have to struggle with the traffic and no need to fight for a parking slot...

    For the taxi-car difference you could:
    - buy your wife a Cartier ring every three months
    - have a luxury dinner for 2 every week
    - hire two more maids
    - fly home with your partner every month
    ...

    not to mention that you will support someone's business, get the roads less congested and might even help to clean up the air in HK a bit...

    You figured already - I made my choice


  10. #10
    Quote Originally Posted by msmelbourne:
    Hi,
    I am reading all the post about car costs, etc. I was wondering if the SMART Cars are available in HK, I have not seen any advertised. They are so gorgeous would not use much petrol and the registration would not be too much either? Does anybody own one of these?
    you may go to here

    http://www.28car.com/sell_ico.php?&h_f_mk=22&h_f_se=2

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