BINGHAM FARMS, MICHIGAN – AUGUST 31, 2023 – Vincentric released its most recent update to its Fees & Taxes data to provide the most up-to-date automotive ownership costs to the US and Canadian markets. This latest data enhancement incorporates detailed state-by-state and province-by-province updates for the US and Canada, including Electric Vehicle Tax Credits. Additionally, it helps to ensure that cost of ownership calculations for new vehicles, used vehicles, fleet vehicles, and electric, hybrid, and plug-in hybrid vehicles use current governmental data.
Although fees and taxes costs are frequently overlooked when calculating how much a vehicle will cost to own and operate, administrative fees such as vehicle registrations, license plate fees, property taxes, and sales taxes at the state, provincial, and local level can significantly impact the cost of owning a vehicle. In addition, users of Vincentric data need up-to-date information to understand the cost of ownership impact of electric vehicle tax credits and rebates at the national, state, and provincial level.
“We strive to provide our users with the most comprehensive and accurate data available,” said David Wurster, Vincentric President. “There are hundreds of different fees and taxes considered across the US and Canada, all of which are constantly changing. This kind of full-scale update of our Fees & Taxes data helps to ensure that our users receive the most thorough and up-to-date data possible."
The Data Analysts at Vincentric conducted a detailed review of automotive-related fees and taxes charged by all 50 US states plus Washington D.C. and by all ten Canadian provinces plus the Northwest Territories. Using a wide variety of governmental sources, Vincentric reviewed the specifications and qualifications of each individual regulation to help ensure each is represented and fully and accurately accounted for in Vincentric’s cost of ownership results.
This latest data enhancement is available to users through Vincentric’s Dynamic Cost to Own lifecycle cost tool, as well as through Vincentric’s various API (Application Program Interfaces) offerings, such as the New Vehicle API and EV API.
ABOUT VINCENTRIC
Vincentric provides data, knowledge, and insight to the automotive industry by identifying and applying the many aspects of automotive value. Vincentric, LLC is a privately held automotive data research organization headquartered in Bingham Farms, Michigan.
Each month the organization measures cost of ownership, including depreciation, fees & taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs, for over 75,000 vehicle configurations for vehicles from 2008-2024 model years in the US and 2010-2024 model years in Canada. Vincentric data is published on major websites and used by a wide variety of organizations, including the Canadian Automobile Association, Automotive Fleet Magazine, Volkswagen, Mercedes-Benz, and many others. Vincentric data is available to its client base through a variety of APIs (Application Program Interfaces), including the New Vehicle API, Used Vehicle API, Fleet Vehicle API, and EV API.