Buying / Leasing a Car

Closed Thread
  1. #1

    Question Buying / Leasing a Car

    Hi there,

    will move to HKG with my family in two weeks. Actually my company wants be to buy a car there. I will get 60k HKD a year for buying the car and paying tax and insurance.

    Normally I am used to lease company cars which is ways more comfortable than buying them. Is there a kind of leasing system for cars in HKG too? Maybe someone can give me an advice how far I will come with my 60k HKD with a leasing contract.

    In case this is not usual: any idea about the fixed costs for insurance and tax?

    Last question: we are considering moving to DB but due to the fact that cars are not allowed there it might be more than tricky. Are there no parking places/houses next to DB for the residants ?

    Thanks for your reply in advance!

    ** Wondering

  2. #2

    Join Date
    Apr 2003

    A car does not add any value if you live in DB.

    However, should you choose to live in other expat areas, a car MAY be useful. Keep in mind that residential carparks go for about $3-4K/month and office carparks go for a similar if not more amount, depending on where your office is.

    Budget for about $7-10K/y in insurance for a used car and $5-10K/y in licensing, maintenance etc.

    An average used car, bought directly from an expat leaving Hong Kong would cost you around $60-80K (our S40 cost us around $65K with 18K Kms on it and was 4 years old when be bought it).

    Car leases are not that common... possible for higher end cars, but not common for lower end cars -- $60K range.

  3. #3

    OK - thanks for the quick reply. Any advice of how to find leaving expat's cars? Is there any forum? or something similar?