Some car buyers of technology think that their country has the most expensive cars when compared to other countries in the world and envy their foreign “colleagues”, comparing the same price with the car market in their country.
But there are many countries in the world where cars cost a fortune, and even a long-term car rental in Dubai in a good rental shop will seem like a very profitable investment than buying the same car in any of these countries. The advantage of a long-term car rental is that the cost will be cheaper compared to daily car rental rates, and you can get a newer model of a car for rent without spending a large amount of money like buying a new car.
Here is a list of those countries where only wealthy people can afford to buy a car today.
How much do you think a 2017 Toyota Corolla could cost in Cuba? Most likely you are wrong. In Cuba, this car costs about $41,650 while the average salary in this country is $20 per month.
That is, in fact, it turns out that even such inexpensive cars by world standards in Cuba today are simply not available to the majority of the population of this country.
For example, for Hyundai Accent T/A (2011) you will give $45,000, and for Peugeot 301 (2013) already $109,699.
Saint Kitts and Nevis
In the country, the cost of tourist attractions, food, and consumer goods is quite acceptable, which cannot be said about the prices of cars. Due to draconian customs and import duties, the cost of all motor vehicles imported into the state exceeds the cost of the most expensive new exclusive cars. For example, a 2012 Toyota Prius costs $165,000 here.
Since new cars are very expensive in St. Kitts and Nevis, old vehicles are in vogue on the island. In this Confederation, the 1990 Toyota Sprinter Cielo (Corolla Sport) is considered quite a fashionable luxury car. Its initial cost is about $20,000.
How much can the same Toyota Prius car cost in Brazil? According to the Japanese company’s official price list, this hybrid starts at $38,000.
In general, many cars in the Brazilian car market by world standards are not much more expensive than in other countries of the world and Europe. But there are very high taxes on cars and with them a large customs duty, which in some cases can be up to 100% of the value of a new car.
Are you willing to pay $5,000 for a 30-year-old rusty car? If yes, come to Nicaragua. The country has introduced a large customs duty, which can be up to 30% of the cost of a new car. The average cost of new cars in the car market in Nicaragua is about $30,000.
The majority of the country’s population cannot afford to buy even a very cheap new car. It is for this reason that the demand for old cars exceeds the supply hundreds of times. As a result, the cost of old vehicles is significantly overestimated.
Do you want to buy the same Toyota Prius model in Indonesia? No problem. Prepare at least $60,000. Want to buy a BMW M3? Prepare $175,000 and the car is yours. What about a car like the Ferrari 458? Also no problem. You will only have to pay some $700,000.
All those cars produced outside the state are subject to large customs duties. Therefore, in the end, the cost of many such vehicles in Indonesia is very huge when compared with the same market in Europe and the United States.
Singapore is trying to get rid of traffic jams in an original way. For example, the cost of a Hyundai Sante Fe SUV in Singapore (around $157,000) is about the same as an Aston Martin car in the UK (£87,968). Another example: the cost of a new Toyota Corolla in Singapore is about $80,000.
The reason for the huge cost of cars directly lies in the high taxes on the purchase of a car and in high customs duties when importing cars into the country. It is also very difficult to get a driver’s license in this country due to quotas and competition fees.
|Vital Shpakouski Philologist with higher education, professional translator, former volunteer and teacher, entrepreneur, and salesperson with 13 years of experience. Now I’m a copywriter in Internet marketing, writing about everything that helps businesses grow and develop. In my free time, I create music and songs that no one hears and take photos and videos that no one sees.