E92-Lighting
Well-Known Member
Re: Self Importation - Advice / Join me
car prices here in US are very cheap
car prices here in US are very cheap
Self Importation - Advice / Join me
- Thread starter DRV
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DriveAllDay
Well-Known Member
Re: Self Importation - Advice / Join me
I paid cash.
Sexytoy;532332 said:
I paid cash.
Re: Self Importation - Advice / Join me
Ok.. How about this for an option??
What about buying directly from used car dealers/ private sale from the UK, pay in cash, register to your name then export it out to Singapore using the VX form? and on top of that, reclaim VAT.
I see second hand car prices of 1-2 yr olds are already reduced to 30-40% of original sale price. That $10,000 that LTA lap on used car import surcharge may be actually become inadimissible compared to the huge savings...
I understand that we are also eligible for PARF rebate, but question is when will the PARF rebate due? is it within 10 years of the car registration in UK or here in Singapore?
Anyone wanna contribute to this point?
Ok.. How about this for an option??
What about buying directly from used car dealers/ private sale from the UK, pay in cash, register to your name then export it out to Singapore using the VX form? and on top of that, reclaim VAT.
I see second hand car prices of 1-2 yr olds are already reduced to 30-40% of original sale price. That $10,000 that LTA lap on used car import surcharge may be actually become inadimissible compared to the huge savings...
I understand that we are also eligible for PARF rebate, but question is when will the PARF rebate due? is it within 10 years of the car registration in UK or here in Singapore?
Anyone wanna contribute to this point?
Re: Self Importation - Advice / Join me
Also just to add... Based on Driveallday's (Btw thank u very much for your contribution.. Its fabulous) calculation for importing cars.. the difference between price of both M3 (Used against Brand New) are listed as follows:
BMW M3 New - (53,000 Pounds)
OTR Price (Singapore) - $316,000
Note that one of the PI (Sunauto) is selling for $311,000.
Used BMW M3 reg & manufactured 2008 - (33,000 Pounds)
OTR Price (Singapore)- $243,000
In summary, it looks like not worth it importing urself over here. No actual savings, esp with the high COE. Only advantage is have higher registered OMV. Not sure if thats worth the hassle? Any input here guys?
Also just to add... Based on Driveallday's (Btw thank u very much for your contribution.. Its fabulous) calculation for importing cars.. the difference between price of both M3 (Used against Brand New) are listed as follows:
BMW M3 New - (53,000 Pounds)
OTR Price (Singapore) - $316,000
Note that one of the PI (Sunauto) is selling for $311,000.
Used BMW M3 reg & manufactured 2008 - (33,000 Pounds)
OTR Price (Singapore)- $243,000
In summary, it looks like not worth it importing urself over here. No actual savings, esp with the high COE. Only advantage is have higher registered OMV. Not sure if thats worth the hassle? Any input here guys?
Last edited by a moderator:
DriveAllDay
Well-Known Member
Re: Self Importation - Advice / Join me
If you buy used from UK, I think you just de-register the car -- no need to register first. BTW, the car would originally have V5 local registration on it. You will need to reclaim the VAT separately -- how I am not sure.
GBP is in your favour, but COE isn't. Depending on how these two moves, your savings can move quite a bit.
Remember your FX risks happens at 2 points -- once when you convert your SGD to GBP (if you have decided, lock it in. I changed in a few months ahead of purchase at 2.08), another when your car arrives at Singapore port. Singapore Customs publishes official exchange rates every Monday -- so when your car is awaiting build / shipping, the rates might have moved...
Also, you need to keep copy of the previous owners' V5 registration -- LTA needs it as prove for emission compliance. Very important.
Begbie;534405 said:
If you buy used from UK, I think you just de-register the car -- no need to register first. BTW, the car would originally have V5 local registration on it. You will need to reclaim the VAT separately -- how I am not sure.
GBP is in your favour, but COE isn't. Depending on how these two moves, your savings can move quite a bit.
Remember your FX risks happens at 2 points -- once when you convert your SGD to GBP (if you have decided, lock it in. I changed in a few months ahead of purchase at 2.08), another when your car arrives at Singapore port. Singapore Customs publishes official exchange rates every Monday -- so when your car is awaiting build / shipping, the rates might have moved...
Also, you need to keep copy of the previous owners' V5 registration -- LTA needs it as prove for emission compliance. Very important.
Re: Self Importation - Advice / Join me
http://customs.hmrc.gov.uk/channels...HMCE_CL_000148&propertyType=document#P32_2415
Got this link from the HM Customs and Tax website.
Basically it says that I have to buy the used car from a VAT registered dealer that does Personal Export Scheme (there goes my chance of buying from direct sellers).
So, this dealer will give me a form called VAT410 which I have to fill up and keep my customer's copy. They also mentioned NO REFUND" is going to be given for the VAT of used cars bought from the dealer. This changes the dynamics altogether about the purchase as it reduces the actual savings.
"Quote from HM Link"
(b) Second hand vehicles
Complete the relevant section of the V5 registration document and send the entire document to the DVLA LO as shown on the document. The DVLA LO will issue an export certificate to enable the vehicle to be re-registered in the country of destination.
Note: If you intend leaving the UK within 14 days of acquiring the vehicle, tell the motor dealer before you buy so that the dealer can arrange for the DVLA LO to issue you with an export certificate straightaway.
"Unquote from HM Link"
So what you were trying to say earlier was, that V5 registration document is required to get DVLA LO to issue and export certificate to enable the vehicle to be re-registered in Singapore.
Ok, next question, in between the whole process, do I need to get the car insured if I am going to ship it straightaway? or do I need to just insure it for the freight purpose? If that is so, can the dealer arrange for freight and insurance for me?
Last question, will the Export Certificate issued from DVLA LO sufficient for them to re-register the car here in Singapore?
Ha.. this is getting real interesting eh...
http://customs.hmrc.gov.uk/channels...HMCE_CL_000148&propertyType=document#P32_2415
Got this link from the HM Customs and Tax website.
Basically it says that I have to buy the used car from a VAT registered dealer that does Personal Export Scheme (there goes my chance of buying from direct sellers).
So, this dealer will give me a form called VAT410 which I have to fill up and keep my customer's copy. They also mentioned NO REFUND" is going to be given for the VAT of used cars bought from the dealer. This changes the dynamics altogether about the purchase as it reduces the actual savings.
"Quote from HM Link"
(b) Second hand vehicles
Complete the relevant section of the V5 registration document and send the entire document to the DVLA LO as shown on the document. The DVLA LO will issue an export certificate to enable the vehicle to be re-registered in the country of destination.
Note: If you intend leaving the UK within 14 days of acquiring the vehicle, tell the motor dealer before you buy so that the dealer can arrange for the DVLA LO to issue you with an export certificate straightaway.
"Unquote from HM Link"
So what you were trying to say earlier was, that V5 registration document is required to get DVLA LO to issue and export certificate to enable the vehicle to be re-registered in Singapore.
Ok, next question, in between the whole process, do I need to get the car insured if I am going to ship it straightaway? or do I need to just insure it for the freight purpose? If that is so, can the dealer arrange for freight and insurance for me?
Last question, will the Export Certificate issued from DVLA LO sufficient for them to re-register the car here in Singapore?
Ha.. this is getting real interesting eh...
DriveAllDay
Well-Known Member
Re: Self Importation - Advice / Join me
Begbie
1. If you register in UK, you need insurance. There are companies specialising in short term insurance -- for Boxster it was about GBP300 for a month even though the car was never driven on the road. BMW I think should be a little cheaper. Your dealer can help. Mine did.
2. In terms of 2nd hand car registration, export, and VAT matters, best if you talk to the UK dealer first. They should be best people to advise.
Since PIs have been bringing near new cars into Singapore -- I am sure there's a way to bring the cars in below cost legally. Just need to investigate.
Physicist -- you are absolutely right about ECC CoC. However, most original owners don't request for them so unlikely you'll get one when buying second hand cars.
Begbie
1. If you register in UK, you need insurance. There are companies specialising in short term insurance -- for Boxster it was about GBP300 for a month even though the car was never driven on the road. BMW I think should be a little cheaper. Your dealer can help. Mine did.
2. In terms of 2nd hand car registration, export, and VAT matters, best if you talk to the UK dealer first. They should be best people to advise.
Since PIs have been bringing near new cars into Singapore -- I am sure there's a way to bring the cars in below cost legally. Just need to investigate.
Physicist -- you are absolutely right about ECC CoC. However, most original owners don't request for them so unlikely you'll get one when buying second hand cars.
Re: Self Importation - Advice / Join me
Hi DriveAllDay,
Thanks for your input. Its fantastic. From our discussions so far I have just made some bullet points of the procedure hw to go abt it just to share with other folks here.
From what I gathered, the procedure for purchase of used car from UK may be guided by the following bullets:
"QUOTE"
1. Purchase only from VAT registered dealer that does Personal Export Scheme.
2. Dealer will provide VAT 410 form, which buyer will sign and declare and give back completed VAT 410 form back to the supplier.
3. Dealer will return a customer copy, which buyer should keep. Note that the date due when the car is to be exported is listed in the VAT 410 form and max period for export is 12 months upon delivery of the car.
4. Request dealer’s assistance to source out short-term insurance for the car. This is essential for registration of the car to buyer’s name.
5. Register the car to buyer’s name.
6. Find Freight Company to arrange for C.I.F for the car.
7. Complete the relevant section of the V5 registration document and send the entire document to the DVLA LO as shown on the document. The DVLA LO will issue an export certificate to enable the vehicle to be re-registered in the country of destination. (See also note below).
8. Obtain the original registration (Sections 1-8 of V5C), de-registration and export papers (Form V561) as required by LTA as to ensure that the vehicle has been registered in the UK for legality, ownership and minimum emission EURO II purposes. (See explanation on V5C form below)
Note: If you intend leaving the UK within 14 days of acquiring the vehicle, tell the motor dealer before you buy so that the dealer can arrange for the DVLA LO to issue you with an export certificate straightaway.
Explanation on completion and return of V5C original registration form : V5C form consists of Section 1-11. Only fill up section 11 and return back to DVLA, Swansea, and SA199 1BD. Retain original sections 1-8 of the V5C for LTA registration purpose. Sections 9-10 are not required and may be removed securely.
"UNQUOTE"
Just a summary of the procedure, with regards to the insurance, VAT etc, I believe you're right, we'll let the dealers assist to apply it for us. I believe with the Export Certificate, the LTA has no reason not to reject the registration however, like you did mention earlier, get an approval in principle. No harm doing it.
Next Chapter - Registration with LTA
Thanks a lot for your time.. Appreciated..
DriveAllDay;534861 said:
Hi DriveAllDay,
Thanks for your input. Its fantastic. From our discussions so far I have just made some bullet points of the procedure hw to go abt it just to share with other folks here.
From what I gathered, the procedure for purchase of used car from UK may be guided by the following bullets:
"QUOTE"
1. Purchase only from VAT registered dealer that does Personal Export Scheme.
2. Dealer will provide VAT 410 form, which buyer will sign and declare and give back completed VAT 410 form back to the supplier.
3. Dealer will return a customer copy, which buyer should keep. Note that the date due when the car is to be exported is listed in the VAT 410 form and max period for export is 12 months upon delivery of the car.
4. Request dealer’s assistance to source out short-term insurance for the car. This is essential for registration of the car to buyer’s name.
5. Register the car to buyer’s name.
6. Find Freight Company to arrange for C.I.F for the car.
7. Complete the relevant section of the V5 registration document and send the entire document to the DVLA LO as shown on the document. The DVLA LO will issue an export certificate to enable the vehicle to be re-registered in the country of destination. (See also note below).
8. Obtain the original registration (Sections 1-8 of V5C), de-registration and export papers (Form V561) as required by LTA as to ensure that the vehicle has been registered in the UK for legality, ownership and minimum emission EURO II purposes. (See explanation on V5C form below)
Note: If you intend leaving the UK within 14 days of acquiring the vehicle, tell the motor dealer before you buy so that the dealer can arrange for the DVLA LO to issue you with an export certificate straightaway.
Explanation on completion and return of V5C original registration form : V5C form consists of Section 1-11. Only fill up section 11 and return back to DVLA, Swansea, and SA199 1BD. Retain original sections 1-8 of the V5C for LTA registration purpose. Sections 9-10 are not required and may be removed securely.
"UNQUOTE"
Just a summary of the procedure, with regards to the insurance, VAT etc, I believe you're right, we'll let the dealers assist to apply it for us. I believe with the Export Certificate, the LTA has no reason not to reject the registration however, like you did mention earlier, get an approval in principle. No harm doing it.
Next Chapter - Registration with LTA
Thanks a lot for your time.. Appreciated..
Last edited by a moderator:
adammonroeh
New Member
Re: Self Importation - Advice / Join me
hi all,
this is a very interesting thread. can anybody recommend a reliable shipping company ? thanks
hi all,
this is a very interesting thread. can anybody recommend a reliable shipping company ? thanks
Tsu Basa
Well-Known Member
adammonroeh
New Member
Re: Self Importation - Advice / Join me
anybody knows any audi uk dealer that does PES ? emailed the london ones but all said no
anybody knows any audi uk dealer that does PES ? emailed the london ones but all said no
