New Delhi, Nov. 13 -- Buying and owning a car is a dream for many. But, beyond the fulfilment of the dream, car buying comes with a hefty amount of finances too. Throughout its lifetime, a vehicle demands expenditure in terms of maintenance, fuel, insurance, and taxes. While buying the car, the consumer can opt for lifetime tax or pay it for five-years. This comes as a tricky part for many.

Many consumers think that lifetime tax is best as he or she doesn't need to pay it again and again. Now the question is should you pay tax for lifetime or for five years? Here is the tax structure explained in detail for your understanding and take wiser decision.

For most of the private car owners who plan to keep their vehicle for a longr period li...