For a $20,000 car, how much would be the annual tax and insurance for it?
$1 million – that's about as accurate as any other guess. Not all states have a personal property tax on cars – in these states the tax then is zero. Other states have personal property taxes on cars – you would have to call the state taxing authority (or look it up online) to get the tax rate. Once you have the tax rate, it is simple math to figure out how much you owe (value of car times tax rate).
Insurance rates also vary…a 17 year old male pays much more for car insurance than a 55 year old female. Insurance is based on age, driving record, location, credit rating, gender, coverage levels, and the type of car (a $25,000 family minivan costs less to insure than a $25,000 sports car, all else being equal). Since different insurance companies have different underwriting rates, you need to call around to various insurers to get these rates (you will need to know what coverage/deductibles etc. you want and what type of car you plan in insuring).
I don't live in a state which charges property taxes on motor vehicles. As for the insurance it depends upon the insurance company, your driving record, what options you choose to have with your coverage. Location determines costs as well. In other words, you want to know how much insurance would cost you – call several different insurance companies and get estimates.
Insurance varies a lot based on things like type of car, coverage selected, company, and driver. Annual tax depends on your state – many states don't have an annual tax, just a one time sales tax when you buy it – a few states don't have that either.
unless your local state or community has a vehicle tax there is no annual tax other than a license which only part is actually a tax
insurance will depend on where the car is garaged and possibl the driving history of the owner
Every number is how much it is for someone, somewhere. It is 50 for someone somewhere and 10000 for someone somewhere.
The price is insurance is mostly based on the age of the driver, where the driver lives, and other things about the driver. The price of the car makes almost no difference in the price of insurance.
There are NO property taxes on a vehicle.
Taxes: Don't you think that depends on the taxing authority?? There is no federal tax.
Insurance: Don't you think that depends on your coverage levels, carrier, and driving record??
That would depend on where you are, your driving record, age and other factors.
Depends on where you are and what coverage you want.