The most expensive country in Latin America to buy a car: it’s not Colombia

Buying a car is a significant investment, and in some Latin American countries, this can be considerably higher due to various economic and fiscal factors.

Argentina, the most expensive country to buy a car in Latin America

According to a study conducted by Scrap Car ComparisonArgentina is positioned as the most expensive country in Latin America to buy a car. This high cost is due to a combination of factors including high taxes, import costs and an inflationary economy.

• High taxes: This includes VAT, excise taxes and customs duties that increase the final price of vehicles.
• Import costs: Most vehicles in Argentina are imported, which adds additional costs due to tariffs and transportation costs. These are passed on to the final consumer, making prices higher compared to other countries in the region.
• Inflation: The Argentine economy has experienced high levels of inflation in recent years, which has affected the purchasing power of citizens and increased the prices of goods and services, including automobiles.

Comparison with other countries in the region

Although Argentina leads the ranking, other Latin American countries also face high costs for vehicle purchases. Colombia, for example, is in third place worldwide in terms of the cost of owning a car.

In Colombia, It takes more than five times the average annual salary to purchase and maintain a new vehicle.

Latin American countries on the list of the most difficult cars to buy

1. Colombia: High costs are due to factors similar to those in Argentina, including high taxes and import costs. In addition, Maintenance and insurance also contribute to high vehicle ownership values.
2. Brazil: It is also among the most expensive countries to buy a car in the region. Taxes on new and used vehicles are highand financing costs can be prohibitive for many consumers.

Tips for buying a car in Latin America

If you are considering buying a car in one of these countries, here are some tips to minimize costs:

1. Look for financing options that offer competitive interest rates and favorable terms.
2. Buying a used car may be a more economical option. Be sure to check the vehicle’s history and overall condition before purchasing.
3. Stay tuned for promotions and discounts offered by car dealers and manufacturers.

Most expensive cars to buy in Colombia

In Colombia, the most expensive cars are generally from luxury and high-end brands. Some of the most expensive models available on the market include:

1. Maserati MC20: With an approximate price of $1,249,000,000, this luxury sports car is one of the most expensive in Colombia.
2. Maserati Quattroporte Trophy: This exclusive sedan is priced at $1,069,000,000.
3. Porsche Taycan Turbo S: With a price of $1,000,000,000, this electric model is highly valued for its performance and technology.
4. Range Rover 5.0 V8 Autobiography: This luxurious SUV is priced at $890,000,000.
5. Maserati Levante Trophy: This sporty SUV is priced at $852,000,000.