Importing Cars (again!)
Nov 26th 2002, 9:50 am
#1
Just Joined
Thread Starter
Joined: Nov 2002
Location: Hong Kong
Posts: 2
Importing Cars (again!)
I deliberately bought a nice car last year with the intention
of emmigrating to Aus in the new year (I live in Hong
Kong) then shipping the car and selling on for a profit.
I didn't look into the details but understood import taxes
could be avoided if you have to own the car for a certain
period before leaving (1yr?) and hold it for the same
amount on landing (might be wrong on this?).
After reading all the posts on the group, I had just come
to the conclusion the whole think was a complete waste
of time, then I checked it's Aussie market value....
Seems this car (which would be considered pretty old in
HK) a 7yrs old BMW328i convertible, is woth up to twice
as much in Australia..possibly by a factor of AUD 27,000
above it's resell price over here.
Seems like with all the hassle and shipping costs it might
still be worth the effort, but there must be a catch? The
car is in mint condition with a KPH speedo and
32,000km, (although no service history).
Am I right on the 1-year thing?
of emmigrating to Aus in the new year (I live in Hong
Kong) then shipping the car and selling on for a profit.
I didn't look into the details but understood import taxes
could be avoided if you have to own the car for a certain
period before leaving (1yr?) and hold it for the same
amount on landing (might be wrong on this?).
After reading all the posts on the group, I had just come
to the conclusion the whole think was a complete waste
of time, then I checked it's Aussie market value....
Seems this car (which would be considered pretty old in
HK) a 7yrs old BMW328i convertible, is woth up to twice
as much in Australia..possibly by a factor of AUD 27,000
above it's resell price over here.
Seems like with all the hassle and shipping costs it might
still be worth the effort, but there must be a catch? The
car is in mint condition with a KPH speedo and
32,000km, (although no service history).
Am I right on the 1-year thing?
Nov 26th 2002, 1:35 pm
#2
Guest
Posts: n/a
Re: Importing Cars (again!)
"rodonnelly" wrote in message
> Seems like with all the hassle and shipping costs it might
> still be worth the effort, but there must be a catch? The
> car is in mint condition with a KPH speedo and
> 32,000km, (although no service history).
Is it right hand drive?
Rod.
> --
> Posted via http://britishexpats.com
> Seems like with all the hassle and shipping costs it might
> still be worth the effort, but there must be a catch? The
> car is in mint condition with a KPH speedo and
> 32,000km, (although no service history).
Is it right hand drive?
Rod.
> --
> Posted via http://britishexpats.com
Nov 26th 2002, 2:27 pm
#3
Ex Mod (2002-2005)
Joined: May 2002
Location: NSW
Posts: 5,464
Re: Importing Cars (again!)
Originally posted by Mountain Dew Or Crab Juice?
"rodonnelly" wrote in message
> Seems like with all the hassle and shipping costs it might
> still be worth the effort, but there must be a catch? The
> car is in mint condition with a KPH speedo and
> 32,000km, (although no service history).
Is it right hand drive?
Rod.
"rodonnelly" wrote in message
> Seems like with all the hassle and shipping costs it might
> still be worth the effort, but there must be a catch? The
> car is in mint condition with a KPH speedo and
> 32,000km, (although no service history).
Is it right hand drive?
Rod.
Nov 27th 2002, 3:58 am
#4
Just Joined
Thread Starter
Joined: Nov 2002
Location: Hong Kong
Posts: 2
Yes RHD.
The keeping for one year thing is a big issue. With
two kids under 2yrs old the car is not suitable for us and I'd
want to sell asap, but at these margins, it's almost worth
garaging for a year until I could sell.
The scary thing is what other items are exceptionally
expensive in Austalia? eg. sounds like you can forget for
ever any idea of owning an upmarket European car!
If living in Aus is approximately half as cheap as living
in UK, and the market value of a car like this is
approximately twice as much (as UK/HK) it makes it
worth four times as much!
The keeping for one year thing is a big issue. With
two kids under 2yrs old the car is not suitable for us and I'd
want to sell asap, but at these margins, it's almost worth
garaging for a year until I could sell.
The scary thing is what other items are exceptionally
expensive in Austalia? eg. sounds like you can forget for
ever any idea of owning an upmarket European car!
If living in Aus is approximately half as cheap as living
in UK, and the market value of a car like this is
approximately twice as much (as UK/HK) it makes it
worth four times as much!
