What is Open Market Selling Price (OMSP)?
The OMSP is the price of vehicle in Ireland on which a vehicle is buy or sell in the open market. This price is important because it plays a important role in calculating the Vehicle Registration Tax (VRT) for Ireland.
Now why the Open Market Selling Price is important? The reason is Revenue Commissioners of Ireland. They want to take VRT from owners when they are registering a Vehicle. Now OMSP is not for all category vehicles it includes:
- Category A Vehicles
- Category B Vehicles
How to Calculate OMSP?
To calculate OMSP you must know some of the important information about your Vehicle:
- Vehicle Type
- Base Market Price
- Depreciation factor
- Registration Date or Age in Years
- Mileage Impact
Formula to Calculate OMSP:
OMSP = Base Market Price – (Depreciation Factor × Age in Years) – Mileage Impact
You must know these above information of you vehicles which helps you in calculating the Open Market Selling Price in Ireland. But to do it automatically you just enter the values in this OMSP Calculator and it will show you instant results.
How to use this OMSP Calculator?
- Enter your Vehicle Category.
- Enter the Base Market Price of Vehicle.
- Then select when you buy or register the vehicle.
- Provide the Mileage (in KM) if applicable.
- Select your Fuel Type.
- If you calculating OMSP for Category A vehicles then enter CO₂ Emissions (g/km).
- For category B vehicles you need to select the type of vehicle also.
- Click on Calculate Button and it will calculate OMSP for you.
Why Use This OMSP Calculator?
If you are lookin for instant results and accurate we made this calculator for you. If you thin we need to do some more chnages in this calculator please contact us we will work on your ideas.
We made this calculator fast, accurate and reliable. Our OMSP Calculator is mobile friendly and fully Responsive to use with quick calculation.
Frequently Asked Questions (FAQs)
Q1: Is OMSP the same as OMV?
No, OMSP is the market value for taxation, while OMV (Open Market Value) refers to vehicle’s market price without tax considerations.
Q2: Does OMSP include VRT?
No, OMSP is used to calculate VRT, but it does not include the VRT itself.
Q3: How to get VRT and OMSP ahead of time?
You can calculate OMSP using this OMSP Calculator or check similar vehicle listings. VRT can be calculated using vrt-calculator.com.
Q4: Can I manually calculate OMSP without this tool?
Yes, but using this calculator easy the process and provides an accurate result
Q5: How often does OMSP change?
The OMSP changes based on market trends, vehicle demand, and depreciation rates.
Conclusion:
Overall, by using this calculator we made it easy for Irish people to calculate the OMSP, which helps to them in calculating VRT Cars and other vehicles. Just by entering few details our tool will save your time and provide you efficient results.
When you find your Open Market Selling Price, then you enter this price in our VRT Calculator and find out your Vehicle Registration Tax for Ireland.