1. Sticker Price vs. Out-the-Door Price: Don't Get 'Shocked'
Many young people buying their first car often only prepare enough money according to the manufacturer's sticker price, forgetting the huge "Out-the-Door Price" that can be 15-20% higher. Mandatory fees include:
- Registration fee: 10% (Province) or 12% (Hanoi, Hai Phong...). Electric vehicles are currently exempt 100%.
- License plate fee: 20,000,000 VND in Hanoi & Ho Chi Minh City, other provinces only from 200,000 VND - 1,000,000 VND.
- Inspection & Road maintenance fee: About 2-3 million VND/year.
- Compulsory third-party liability insurance: Mandatory (about 480k - 870k depending on vehicle type).
2. How Much Does It Cost to 'Maintain' a Car Per Month?
Owning a car is like "raising a child". Besides fuel, you also face hidden costs that VNIT's tool has detailed:
Fixed Costs (Lost even if you don't drive)
- • Monthly parking (home + office): 1.5mil - 3mil VND
- • Comprehensive insurance (voluntary): ~1.5% of vehicle value/year
- • Vehicle depreciation: Loses 5-10% value each year
Variable Costs (The more you drive, the more you spend)
- • Fuel (Gas/Electric): Depends on kilometers
- • Toll/BOT fees: 35k - 70k VND/trip
- • Periodic maintenance: Every 5,000km
3. The Savings Battle: Gas vs. Electric Vehicles
The trend of shifting to electric vehicles (like VinFast VF5, VF6, VF8...) is very strong thanks to tax incentives and low operating costs. Use our "Gas - Electric Comparison" tab to see clearly:
- Electric vehicles save about 500 VND - 700 VND/km in fuel costs compared to gas vehicles.
- Electric vehicle maintenance costs are usually lower due to fewer complex mechanical parts.
- However, consider charging station availability and your long-distance travel habits.
Frequently Asked Questions
💡How much does it cost to maintain a car per month?
Car maintenance costs include fuel, parking, road fees, insurance, and maintenance. Average in major cities: A-segment cars about 3-4 million/month, B-C segment about 4-6 million/month, and luxury cars can reach 10 million/month. Use VNIT's tool to get accurate numbers based on your kilometers driven.
💡How much money do electric vehicles save compared to gas vehicles?
Electric vehicles have a big advantage in fuel costs (only 1/3 of gas vehicles) and are exempt 100% from registration fees (until 2025). After 5 years of use, electric vehicles can help you save 100-300 million VND in total ownership costs compared to gas vehicles in the same segment.
💡What income level should you have to buy a car on installments?
Safe principle: Total installment cost + Car maintenance cost should not exceed 40% of net income. For example: If car maintenance costs 4mil + installments 6mil = 10mil, then your income should be from 25 million/month or more to ensure financial safety.