Cost of buying a car

[Helenjo]

Hi
Can anyone tell me if there is any additional cost when you buy a car on the island? Tax, other than road tax etc.
How is the ownership transferred?

Thanks
Helen

 

[lollipop]

If you buy from a garage they usually include the transfer tax in the price. If you buy privately you have to pay a transfer tax and go to Traffico to change ownership. The transfer tax I believe depends on the cost of the car.

 

[Deanscroft]

When you register the car into your name you have to pay tax even if buying from a private individual. The tax is not based on the price you pay. It is based on the price new less a set yearly depreciation. The Gestor has governmant tables for this. I think the tax is 4%.