The hidden costs of owning a car and why insurance is not your biggest expense
The moment you drive that car out of the yard, it starts losing value. And in Kenya, that's no small deal. Because of import duty, excise duty, VAT, and other levies, which together can add up to 75% to 90% on top of a vehicle's landed cost, a lot of a car's price is tax.
For many Kenyans, buying a car isn’t just a purchase; it’s a milestone. It says you’ve arrived. Whether it’s your first ride or an upgrade from years of matatu commutes, that car represents freedom,
status, and a little bit of swagger.
But before you buy, don’t just ask, “Can I afford the price tag?” Ask, “Can I comfortably afford the fuel, the servicing, the surprise repairs, the insurance, and the depreciation, every single month, for years?”
Because the sticker price is just the entry fee. Ownership is the real subscription.
Watch the video to learn more about the hidden costs of owning a car.