There is a huge difference in the cost of cars between Costa Rica and neighboring Panama. In general, cars in Costa Rica can cost twice as much as in Panama. This is because the Costa Rica government has a large import tax on any items brought into the country. There are no cars manufactured in Costa Rica so every vehicle here is subject to this tax, which is somewhere between 40% and 80% of the perceived value IN COSTA RICA. Panama has an import tax too, but it is much less than in Costa Rica.
Here is an example of a car that I noticed this week. A 2008 Toyota 4Runner 4×4 with under 50K kilometers. In Costa Rica this one is advertised for a whopping $38000. I looked for a comparison in Panama and found a similar vehicle for half that much, at $18800.
In Costa Rica:
In Panama:
The cost of gasoline is also considerably cheaper in Panama, currently around $3.80 a gallon for Premium/Super. In Costa Rica it’s around $4.80.
