Owning a car in Greece can be convenient, especially if you live outside major cities or plan to explore the country’s beautiful landscapes and islands. However, the costs associated with car ownership can add up quickly. From purchasing and registration fees to fuel, insurance, and maintenance, here’s a detailed breakdown of what it costs to own a car in Greece.
1. Initial Purchase Costs
The price of buying a car varies depending on whether it’s new or used, imported, or locally purchased.
New Cars
- Price Range: New cars in Greece typically range from €10,000 for small economy models to over €50,000 for luxury vehicles.
- Taxes: Greece imposes significant taxes on new vehicles, including:
- Special Consumption Tax (ESD): Based on engine size and emissions, this tax can increase the cost of a car by 20–100%.
- Value-Added Tax (VAT): A flat rate of 24% applies to all new vehicle purchases.
Used Cars
- Local Market: Used cars are more affordable, with prices starting around €3,000 for older models.
- Imported Cars: Importing a car from another EU country may save money, but you’ll still need to pay Greek registration taxes.
Electric and Hybrid Vehicles
- Incentives: The Greek government occasionally offers subsidies for electric and hybrid cars to promote eco-friendly transportation. These incentives can reduce upfront costs significantly.
2. Registration and Licensing Fees
Once you’ve purchased a car, you must register it and obtain a license plate.
- Registration Fee: This fee depends on the car’s engine size and emissions. For example:
- Small cars (up to 1,400 cc): Around €500–€1,000.
- Larger cars (over 2,000 cc): Can exceed €3,000.
- License Plates: Approximately €50–€100.
- Roadworthiness Test (KTEO): Required for registration, costing about €40–€60.
3. Insurance Costs
Car insurance is mandatory in Greece and comes in three tiers:
Third-Party Liability Insurance (AMVA)
- Cost: €300–€800 annually, depending on factors like age, driving history, and location.
- Coverage: Covers damages to third parties but not your own vehicle.
Comprehensive Insurance
- Cost: €600–€1,500 annually.
- Coverage: Includes theft, fire, natural disasters, and damage to your car.
Additional Coverage
- Add-ons like roadside assistance, accident coverage, or glass protection can increase premiums by €100–€300 per year.
4. Fuel Costs
Fuel prices in Greece are relatively high compared to other European countries due to taxes.
- Unleaded Gasoline (95 Octane): Approximately €1.70–€2.00 per liter.
- Diesel: Around €1.60–€1.90 per liter.
- LPG (Liquefied Petroleum Gas): A cheaper alternative at €0.80–€1.00 per liter, though not all cars are compatible.
Annual Fuel Expenses
- Assuming an average consumption of 8 liters per 100 km and driving 15,000 km annually:
- Gasoline: €2,040–€2,400 per year.
- Diesel: €1,920–€2,280 per year.
5. Maintenance and Repairs
Regular maintenance is essential to keep your car running smoothly.
- Routine Servicing: Oil changes, tire rotations, and inspections cost €100–€300 per service, typically done every 10,000–15,000 km.
- Major Repairs: Parts and labor for repairs like brake replacements or clutch fixes can range from €200–€1,000.
- Annual Maintenance Budget: Expect to spend €500–€1,000 per year on average.
6. Road Taxes
Greece levies annual circulation taxes based on engine size and emissions.
- Small Cars (up to 1,000 cc): €100–€200 per year.
- Medium Cars (1,000–2,000 cc): €300–€600 per year.
- Large Cars (over 2,000 cc): €800–€1,500 per year.
Electric vehicles enjoy reduced or waived road taxes, making them a cost-effective option in the long run.
7. Parking Fees
Parking costs vary widely depending on the city and location.
- Urban Areas:
- On-street parking in Athens or Thessaloniki: €1–€3 per hour.
- Monthly parking permits: €50–€150.
- Rural Areas: Free or low-cost parking is common outside major cities.
8. Toll Roads
Greece has several toll roads, particularly on highways connecting major cities.
- Costs: Tolls range from €2–€10 per trip, depending on distance.
- Frequent Travelers: Consider purchasing a prepaid e-pass device (e.g., “Telepass”) for convenience and occasional discounts.
9. Depreciation
Cars lose value over time, which affects resale prices.
- Depreciation Rate: Typically 10–20% per year for the first five years.
- Resale Value: Smaller, fuel-efficient cars tend to retain their value better than larger, luxury models.
10. Miscellaneous Costs
Other expenses to consider include:
- Driver’s License Renewal: Around €30 every few years.
- Fines and Penalties: Traffic violations can result in fines ranging from €50 for minor offenses to €500+ for serious infractions.
- Winter Equipment: Snow tires or chains may be required in mountainous regions during winter, costing €100–€300.
Estimated Annual Costs
Here’s a rough estimate of annual car ownership costs in Greece:
| Expense | Cost Range (EUR) |
|---|---|
| Insurance | €300–€1,500 |
| Fuel | €1,900–€2,400 |
| Maintenance | €500–€1,000 |
| Road Taxes | €100–€1,500 |
| Parking | €0–€1,800 |
| Tolls | €0–€500 |
| Total | €2,800–€7,700 |
