Panama is one of the cheaper countries in Latin America to own and maintain a vehicle. They have one of the lowest tax rates on new vehicles. I bought a new Nissan Frontier in 2007 for $19,000. It is double cab and has a 3.2 liter diesel engine. A Nissan Frontier in the States in the same year was a couple thousand more expensive and only had a gasoline engine. Car repairs are very reasonable and parts are about the same as in the US. I don't think it is a good idea to import a car from the US because the models are different and sometimes you can't get parts. The paperwork to bring one in the country is a headache. In recent years we have a lot more cars in Panama so it is much easier to find a good used car. Today I renewed my tags on my Nissan Frontier. It costs me $162 altogether including the minimum insurance for one year required by the government. So car insurance is much cheaper in Panama than in the USA. Some countries with their own oil reserves have a subsidy on motor fuel so gasoline or diesel might be cheaper. I think that is the case with Ecuador but vehicles themselves are more expensive. In Costa Rica they have a very high tax on new vehicles and in addition motor fuel is more expensive. So the situation here in Panama for buying and maintaining a motor vehicle is pretty favorable.
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