How Much Would It Cost To Store Your Tax Free Supercar In Langkawi?
Ever wonder what it would cost to store your car in Langkawi? Find out here
Okay, so as we all know, Malaysia is not exactly known for its affordability as far as cars go given our tax structure. However, most people often think registering a car in Langkawi (where it is tax free) is the solution, but often forget that registering a car there means it has to stay there for 2 to 5 years before it can really leave the island.
So with this in mind (and ignoring the fact that these cars can be driven outside of Langkawi for not more than 1 month every year), how much would it cost for one to store their supercar in Langkawi once registering it there to avoid paying taxes on it?
Well here is his breakdown.
WIthout factoring in the cost of the supercar itself, registering it for storage costs between RM8,000 to RM10,000 and this is a one off payment. This is inclusive of the car registration, runner fees, JPJ inspection and usually transporting the car to Langkawi on a flatbed.
Moreover, depending on the kind of warehouse one wishes to store their supercar in, storage cost will be anywhere between RM4,000 to RM6,000 and this price changes depending on the kind of warehouse, whether they provide a ‘battery trickle’ charge services or they will help you do regular engine start ups to prevent battery discharge.
Of course, if one wishes to add a bubble cover to futher protect their luxury supercar, this will incur a charge of an extra RM5,000. Now for the trip itself to transport the car from Langkawi to KL, it would cost about RM10,000 (RM5,000 one way) as the car will typically be transported on a flatbed truck.
On top of that, one cannot forget the bank guarantee costs as to remove the car from Langkawi and to clear Customs inspection, owners must provide bank guarantee to the Customs department, where the amount is subject to the value of the car. For example, a car costing RM1 million, will incur a sum equivalent to the car. Cost involved is estimated to be about another RM1,000 to RM2,000.
So all in all, the total cost initially is around RM12,000 to RM15,000 followed by another RM12,000 to 15,000 every year (assuming one drives their car out every year to enjoy for a maximum of 30 days) and this is all before factoring in road tax, petrol and maintenance costs as well.
So there you have it, a comprehensive breakdown of what it would cost to store your tax free supercar in Langkawi.
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