Premium

The premium is the percentage by which the listed price is higher than the total basic cost paid by the car dealer to bring in the vehicle.

The total basic cost includes the OMV, custom duty, GST, ARF, VES surcharge, registration fees and COE.

The total basic cost excludes insurance premium, number plates, road tax, IU, dealer's commission, and all other overheads.

The formula used to derive the figure is as follows:

Premium = ((List Price - Total Basic Cost) ÷ Total Basic Cost) * 100%

Take note that in cases whereby the dealer is not the importer of the vehicle, the actual cost price of the car to the dealer will be significantly higher than the total basic cost.