How to beat exchange rates? E.g. buy a sought after car in UK and import to NZ
 

I'm moving to New Zealand later this year and, like many, I've taken a massive hit on my savings since Brexit.

I'm looking for ideas for ways to beat the exchange rate somehow. One option is to look for cars that are worth more in NZ than the UK (e.g. premium Uk/Euro vehicles) and bring one over. Even with taxes, shipping, insurance it makes some sense.

Any other ideas? What's everyone else doing?

Re: How to beat exchange rates? E.g. buy a sought after car in UK and import to NZ
 

We keep toying with the idea of a caravan but I'm feeling a bit stressed out with the move as it is, not sure I can cope with that added complication!

Re: How to beat exchange rates? E.g. buy a sought after car in UK and import to NZ
 

If you buy a car in the UK to ship to NZ, you have to own it for 12 months in the UK or be liable for import tax.

Re: How to beat exchange rates? E.g. buy a sought after car in UK and import to NZ
 

That's correct, but if you choose a European car that's more sought after in New Zealand, the price difference can be significantly more than the full landed cost, including GST.

Re: How to beat exchange rates? E.g. buy a sought after car in UK and import to NZ
 

plus if you sell it within 3 years, I think it was, you have to pay a yearly depreciating amount to customs

Re: How to beat exchange rates? E.g. buy a sought after car in UK and import to NZ
 

I am bringing in an MX5 next week. With transport/insurance/handling charges and paying GST I will save at the very most a few thousand $, but the spec isn't available here (and it is for the wife who tells me she is worth it) :-)

Re: How to beat exchange rates? E.g. buy a sought after car in UK and import to NZ
 

we are really looking into bringing campers down and then hiring them out on Share a Camper. Nice bit of passive income with little risk

Re: How to beat exchange rates? E.g. buy a sought after car in UK and import to NZ
 

I looked at it but the potential compliance problems are high unless it is newish. Caravans are easier as they are treated as a trailer. In both cases unless you have owned them for 12 months you get stung for both GST and import duty.

Re: How to beat exchange rates? E.g. buy a sought after car in UK and import to NZ
 

Our local car dealer, who we supply with wood buys all his cars from Japan, he does a roaring trade. Cars are very cheap in NZ so would it really be worthwhile to bring from the UK? He would surely go to the UK to source his cars if it was and he doesn't, he buys from Japan. We have two of his cars and they're flippin great and have never let us down.

Re: How to beat exchange rates? E.g. buy a sought after car in UK and import to NZ
 

Sure cars are imported to NZ, and they are cheaper compared those NZ new, but are they very cheap? I wouldn't have so, simply 2nd handcars are expensive in NZ. With UK exchange rate to NZ, there is probably some money it, might already be some doing it. Yes, there's import taxes, but that's no different to Japan imports they'll be import taxes on them.

Re: How to beat exchange rates? E.g. buy a sought after car in UK and import to NZ
 

I doubt it'd work out. European cars aren't sought after here unless they are high class Mercs, BMW and maybe Audi/VW. They aren't to NZ spec and parts/servicing more expensive here than others. All mechanics here state European cars will be an added premium on any advertised fixed cost service and parts can take weeks to arrive.
If you really wanna bring something to make money it's a caravan or campervan as they are just insane cost here. You must factor in the cost of shipping, GST, import charges, compliance, registration etc but it should be worth it if you can suffer the hassle it will give you. A mate of mine has done a couple but got fed up with the stress of it all and even though he made a bit of cash it wasn't enough to make it a regular thing.
I've thought about it but for me it's like gambling....shelling out say $10 000 to buy a van, ship it over and get it registered to then get $40 000 4 months later sounds great but only great if you can afford to lose that money if it all turns to custard. You only need 1 bad buy to screw your dream of making a bit of cash.

Re: How to beat exchange rates? E.g. buy a sought after car in UK and import to NZ
 

Which particular campervans or caravans was your friend bringing over?

Re: How to beat exchange rates? E.g. buy a sought after car in UK and import to NZ
 

Think they were just Elddis tourers and over 10 years old.
There's many really old caravans here.
Kiwis are very sentimental when it comes to old caravans from the 60's / 70's as they used to holiday in them as kids. A colleague of mine bought one last year as it reminded him of when he grew up, complete with net curtains and doilies on the sofa arms.
Have a look on TradeMe at used prices you'll be shocked.
There's a camper/caravan dealer on Hewletts Road, Mount Maunganui that I drive past often and I burst in to laughter at the windscreen sticker prices $50k for an old duffer caravan :-)

Re: How to beat exchange rates? E.g. buy a sought after car in UK and import to NZ
 

I used to do the same and I still don't understand why the prices are so high for such old wrecks.

Though the old retro caravans are very much growing in popularity now, owners are glamming them up and making them look very pretty.

Re: How to beat exchange rates? E.g. buy a sought after car in UK and import to NZ
 

Another point; as far as I know there is little demand for second hand cars in Japan (possibly a cultural thing) so they are very cheap compared to other countries.

There is also the prejudice against UK cars (the only RHD cars you can get from Europe).

From back in the '80s people in NZ have always seemed to regard UK cars as dodgy because of all the salt spread on the roads over winter. Not an issue these days but UK cars used to rot away pretty quickly (if you remember that far back).

Another thing I noticed - in the UK if the car has done less that 100,000 miles it is generally seen as O.K. In NZ anything over 100,000 km is regarded as high mileage.

All down to perception, not logic, but as others have said camper vans and caravans seem to be the way to make (or save) money at the moment.