Savitar

Hi all,

I am new to this forum and have found quite a good number of posts about this topic but they did not quite answer what I am after. I am looking to import a 2009 BMW M3 which I will purchase now and ship when I head to OZ in 12 months time. So this will be a personal import. So to my questions.....

Has anyone actually imported a high value car (say $100,000 in OZ second hand)? If so, what were the experiences and costs like? How much was the car the valued at when arriving in OZ? They say it "can" be as much as half the curent market value but that is like saying my lottery ticket "might" win tonight.....

Second, what has been the experiences in insuring the car? I read a lot of scary posts like "Forget it, insurance companies won't touch you" but these all appear to be from people who have not actually done it and are just scaring (or scared themselves) others based on little more than their opinion.

Third, with all the modern technology (DAB radio, TV, Sat Nav) built into UK cars, do they all work in OZ (obviously you would need a map for the nav) or do you need to get things changed over?

Finally, has anyone actually sold a high value car they personally imported in OZ and if so, what was the experience? Did you get taken to the clearners on price or did the market not really care it was a personal import?

I am not looking to make any money out of this but don't want to lose either....

Thanks in advance for any advice on this, it will be greatly apprecaited....

Tramps_mate

You will pay tax on an M3 like its bought in Oz.. It will be a lot. And then other taxes. If you're doing it to make money then I doubt you would make much.

Some one broke down the duties/taxes for car imports the other day. Cant remember the thread..

Savitar

Well I disagree with you about the tax part (from what I have read). It is very clear the import websites (offical ones) that the value of the car is the "as landed" value which means without compliance, registration etc so is valued far less than a fully complianced / registered car. That is why they says its as much as half the market value.

The breakdown of duties / taxes I have (i.e. the % costs) as well as the costs for the various options RORO, shared container, single container etc but the valuation for the car has a HUGE influence. For example, if the valuation is over $57K then you pay LCT of 33% for every $1 over that so if the valuation of the car is $80K that hurts, but if its $40K then we are good to go......

So I am really looking if anyone has practicle experience of $100K ish (Ozzie market price) cars for import to know how is actually works....

Kenzi

Ive taken my 2008 335i over, costing $15,000 in total but will make that and more when i come to sell it.

As for sat nav etc these all work fine, only my traffic management system doesn't get a signal.

It takes a while and is a bit of a ball ache but worth while in the end. As for insurance, mines is the same price as it was in the UK.

carling black label

http://britishexpats.com/forum/showthread.php?t=715152

If i head back to the UK for a year or longer...I will buy something nice, spend as much as i can borrow/afford, then ship a year or so later back to Oz....I will store it for a year in the UK, break no rules.........You will get at least $2.5 to £1 on your investment.......If i could afford a Bentley at £100k, i would get at least $300k for it here........Do the maths, it ain't rocket science...You just need the funds on hand to buy the car, afford to be without the funds, service the debt for around 14 months, you need to be in the UK for at least say 13 months, you need to be a UK citizen, you need to be a Ozzy permanent resident or Ozzy citizen.....No brainer......

ROMFT_WO2RN

DAB prob won't work as they use DAB+ in Oz.
TV may not work as standard UK TV's need either a set top box or a country select function.

nice car though

Savitar

Hey kenzi,

What is key for me is how much the market value was (approx) for your car in oz vs how much they put value at for the tax? Was it really 50% offbeat you think it's worth to seek on oz?

Kenzi

yes it was roughly 50% of the market value they valued the car at. I disputed it and they lowered it a little saving me over $1000 in taxes!!!

Savitar

Sorry for all the questions but how did you argue the price? I thought you went to a place where you just pay about $200 for a paper valuation ( ie all done via a phone call and then got it int the mail?

Kenzi

No, they have to go see the car at the AQIS depot. I contested it through my agent and calling customs myself. I then set up another valuer to go round off my own back

Savitar

Ahhh ok. So you were not happy with the first, got a second to go arond and they gave you a better quote.....Seems to make sense......

Are you able to let me know which valuers you used? (so I know which to and no to use...)

PerthParamedic

I imported my car from the UK when I came over. Luckly I didn't stung to much for the tax. Offect the shipping cost to bring that down.

Insurance wise, I've got an agreed value policy with Shannons, and they linked the car we purchased in Australia to that also.

It is a bit of a minefield, and everyone wants to put their hand in your pocket.

Good luck though.

PP