Car Loan / Total Cost of Ownership Calculator
Private-car first registration tax uses Customs taxable value and the Transport Department bands. Already-registered used cars do not pay it again. Early settlement may follow the Rule of 78.
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Vehicle and loan details
FRT is charged on the published retail price or Customs provisional taxable value, which can be higher than a discounted invoice.
Many car-finance quotes use a monthly flat rate and the Rule of 78. Convert with the APR tool or enter the lender’s reducing-balance rate.
Monthly repayment
Loan amountHK$175,000 · Down paymentHK$75,000
First registration tax HK$155,000 on taxable value HK$250,000. Usually paid in cash, not added to the loan.
Total interest
Total repayment
Repayment-to-income ratio
Affordable burden
Monthly running cost
Instalment + insurance + running costs
First-year total outlay
Deposit, FRT, one licence, one insurance year, 12 instalments and running costs. Insurance is counted once.
Cash needed upfront
Deposit + first registration tax + first-year licence and insurance
This FRT table is for private cars only. Electric and plug-in hybrid concessions, motorcycles and vans use other rates. Early settlement may follow the Rule of 78 rather than this reducing-balance schedule. Open Rule of 78
| Taxable-value band | Rate | Tax |
|---|---|---|
| First HK$150,000 | 46% | HK$69,000 |
| Next HK$150,000 | 86% | HK$86,000 |
Hong Kong car loans and private-car first registration tax
Private-car first registration tax is Customs taxable value times the Transport Department bands: 46% on the first HK$150,000, 86% on the next HK$150,000, 115% on the next HK$200,000 and 132% on the remainder. Taxable value is usually the published retail price or a Customs provisional value, which can exceed a discounted invoice. A car already registered in Hong Kong does not pay this tax again.
The tax is normally paid in cash and is not automatically added to the car loan. Electric cars, plug-in hybrids, motorcycles and vans use other rates or concessions. This page only applies the private-car table. Vehicle licence fees vary by cylinder capacity; enter the annual fee yourself.
Many car-finance quotes use a monthly flat rate and the Rule of 78, which is not the same as the reducing-balance rate on this page. A balloon lowers the instalment but leaves a lump sum at the end. Check an early settlement with the Rule of 78 tool or the lender’s statement.
Insurance, fuel, parking and maintenance sit on top of the instalment. This page counts insurance once in the first-year cash figure. The income-ratio check is only a burden hint, not a bank-approval rule. Customs valuation and Transport Department collection remain decisive.
References
- 1Guidelines for importation and registration: first registration tax(Transport Department)
- 2Motor vehicles and taxable value(Customs and Excise Department)
Site data last reviewed: 2026-08-09 · The sources above are for reference only; please refer to the latest official announcements from the relevant organisations.
Think a figure, rule or source needs updating? Report this pageFAQs
How is first registration tax calculated?
Does a used car pay first registration tax again?
If I pay less than the published retail price, is tax lower?
Is the rate a reducing-balance APR or a flat rate?
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Do electric cars use the same tax table?
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Client-side only: All data is calculated on your device and is not uploaded to any server. Results are for reference only and do not constitute professional financial or legal advice.