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Owning a first car in hong kong

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  1. #1

    Join Date
    May 2019
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    Post Owning a first car in hong kong

    Hello!

    Hear me out, i am working on my car license in hong kong and after this i would want to get a gtr-35, i know its a luxury and expensive car.. if specific i was thinking of a 2008 to 2009 which would be max to 400k+ (minimum 350k+) as from my researches. Was planning getting it on HP. My concern at this point whether if there are hidden payments when buying cars like these. especially for a 20 year old (young driver) earning 20k+ a month . Could some adults give me some advice especially for young drivers like me and would the budget be enough ?~ many thanks!


  2. #2

    Join Date
    Dec 2010
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    Wrong side of the door to hell
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    Your insurance would be astronomical as a young & inexperienced driver. The excesses would be large and on your salary it's a ridiculous idea.

    If you manage to surmount these problems please let us know when & where you are on the road, so I know to avoid the roads. Cheers and good luck!

    Last edited by kimwy66; 09-05-2019 at 06:55 AM.

  3. #3

    Join Date
    Dec 2009
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    4,660

    Parking is also going to be an ongoing expense.


  4. #4

    Join Date
    Dec 2002
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    ???
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    As the others have said:

    - Insurance
    - Registration / MOT / Maintenance
    - Parking
    - Random tickets
    - And if you drive a lot, Petrol (getting expensive again...)


  5. #5

    Join Date
    May 2019
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    what about 50% cash on the car? would that make any changes ?


  6. #6

    Join Date
    Jan 2008
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    11,265

    For a 400 plus bhp car for 20 year old, with no Claims bonus assuming your foreign ncp can be used, I work in insurance, expect the insurance fee to be more than hkd 30,000 per year assuming any insurer will cover you.

    Why not stick to a 150-170bhp car such as golf gt or Honda civic vti and save the money on insurance at third of gtr r35 .

    Then use the money for full bucket seats, g29 and a ps4 pro and gt sport, you never know, if you're good, you could get sponsored to race performance cars for real (which young drivers have done).

    hin23leung and Titus like this.

  7. #7

    Join Date
    Oct 2017
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    608

    Please DO factor in speeding tickets. If you're not planning on driving fast in this car, then don't buy it!

    Titus likes this.

  8. #8

    Join Date
    Jan 2008
    Posts
    11,265
    Quote Originally Posted by gtronly
    what about 50% cash on the car? would that make any changes ?
    No, it won't make any difference on insurance price even if you own two r35

    It's to do with risk of a young driver with high performance car which can do 0-100km in less than 4sec
    Kowloon Goon, shri and kimwy66 like this.

  9. #9

  10. #10

    Join Date
    Feb 2005
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    Cars like Skyline GTR / Subaru WRX etc the insurance is very high even for older guys, I've asked before and checked with quite a few insurance companies and they replied its cheaper to insure a Ferrari than it is for those typical street racing cars and this was for 3rd party only, if your going to buy a GTR on HP, some HP companies require FULL insurance so even worse LOL

    Give kwiksure a call and find out how much insurance is on FULL coverage and see your young dreams get squashed

    https://kwiksure.com/

    imparanoic likes this.

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