Self Importing ?
- Thread starter Nuke
- Start date
I'll try and address all queries here ...
i) The last car I imported was in 2002 .
ii) I have two dealers contact info and am reluctant to share it.
Everytime I register a car (for warranty purpose ) with BMW Asia , I need to produce an invoice from whom I purchase the car from. Apparently , BMW Asia takes the matter up with BMW Germany , and they do warn the dealers there to ensure that cars do not get shipped to Asia .
However , there ARE tons of dealers in EU who DO export to UK (Right hand drive) ; just google and do some legwork. The price variance in EU is really NOT so significant (about E$2500 max ) .
You can also PM me and enquire what I think of a particular dealer and I will offer U my 2 cts . ( I worked in EU for about 3 yrs , so I do have a fair bit of motoring ethusiast contacts there ).
iii) I pay cash for the cars . - Those who need loans , you will need to use a SG company to import the cars and then produce an invoice to the Bank . (Silly bank requirement - go figure it ). Suggest you clarify with the bank (or Finance Company ) FIRST on what is the requirements BEFORE you import the car . Finance Companies tend to make margins of about 3-4% of the loan quantum , so , they can be very motivated .
Tough ?
IF TTS can do it , If Tan Ah Kow can do it , etc , it is really not that difficult .
Just look at the OMV price and compare it to PML selling price . Then compare your EU quoted price .and add $5000 for your freight , trouble and effort . Is the savings worth it ? .
The 1000 step Journey always begins with the 1st step.
Any further questions , just post it and I'll try my best to clarify.
i) The last car I imported was in 2002 .
ii) I have two dealers contact info and am reluctant to share it.
Everytime I register a car (for warranty purpose ) with BMW Asia , I need to produce an invoice from whom I purchase the car from. Apparently , BMW Asia takes the matter up with BMW Germany , and they do warn the dealers there to ensure that cars do not get shipped to Asia .
However , there ARE tons of dealers in EU who DO export to UK (Right hand drive) ; just google and do some legwork. The price variance in EU is really NOT so significant (about E$2500 max ) .
You can also PM me and enquire what I think of a particular dealer and I will offer U my 2 cts . ( I worked in EU for about 3 yrs , so I do have a fair bit of motoring ethusiast contacts there ).
iii) I pay cash for the cars . - Those who need loans , you will need to use a SG company to import the cars and then produce an invoice to the Bank . (Silly bank requirement - go figure it ). Suggest you clarify with the bank (or Finance Company ) FIRST on what is the requirements BEFORE you import the car . Finance Companies tend to make margins of about 3-4% of the loan quantum , so , they can be very motivated .
Tough ?
IF TTS can do it , If Tan Ah Kow can do it , etc , it is really not that difficult .
Just look at the OMV price and compare it to PML selling price . Then compare your EU quoted price .and add $5000 for your freight , trouble and effort . Is the savings worth it ? .
The 1000 step Journey always begins with the 1st step.
Any further questions , just post it and I'll try my best to clarify.
hi marclees,
Firstly, on behalf of everyone here, I would like to thank you for a very informative posting. This posting has been extremely enlightening. But I do have a questions that I hope you may be able to answer.
I did a quick check online and figured that several dealers were selling the 325 coupe for E40,000. That works out to be approximately S$88,000, based on an exchange rate of 2.20.
Does this then mean that the OMV for this car will be S$88,000 + freight charges. But then the actual OMV of the car imported by PML is probably around S$50,000 thereabout.
Is this a case of getting a wrong dealer or is it that there is another way computing the OMV, ie tax rebate, etc.
If it isn't convenient for you to disclose all these information in public, you can PM me. Thanks alot.
Firstly, on behalf of everyone here, I would like to thank you for a very informative posting. This posting has been extremely enlightening. But I do have a questions that I hope you may be able to answer.
I did a quick check online and figured that several dealers were selling the 325 coupe for E40,000. That works out to be approximately S$88,000, based on an exchange rate of 2.20.
Does this then mean that the OMV for this car will be S$88,000 + freight charges. But then the actual OMV of the car imported by PML is probably around S$50,000 thereabout.
Is this a case of getting a wrong dealer or is it that there is another way computing the OMV, ie tax rebate, etc.
If it isn't convenient for you to disclose all these information in public, you can PM me. Thanks alot.
nivlekx said:
I am not 100% familar with the current mode of OMV computation as my last car came in 2002 BEFORE there were some minor tax changes .
With this forewarning in mind , here are my comments
i) When checking OMV , one CANNOT just rely on the main web link at http://app.lta.gov.sg/motoring_vo_omv.asp. ...>> this is only an estimate .
Get the latest data at http://www.onemotoring.com.sg/publi..._cost.MainPar.0019.File.tmp/Car_Cost_2004.PDF
This is especially relevant when the Euro is rising steadily recently.
ii) OMV includes purchase price, freight, insurance and all other charges incidental to the sale and delivery of the car to Singapore. This generally means that you add about E$3000 to your purchase cost for shipping , insurance etc. If you can be patient , find a container that takes a longer time to arrive (Max is 3 mths ) or share one , because shipping costs are taxed.
iii) BMW cars are imported by BMW Asia . Obviously there is some degree of preferential transfer pricing . Also PML cars tend to be the very base models , so should be valued as such . Conversly , the cars you find in EU tend to have very high specs . When you get the quote in EU , always get the base price and then add accessories seperately in a 2nd invoice . Offer to pay the EU dealer higher commission if he can list the 'service charges' in the 2nd invoice .
Example #1
Invoice A
1) BMW 325 E$42,000
-------------
Example #2
Invoice A
1) BMW 325 E$30,000
Invoice B
1) Hamann Motorsport Rims, xenon headlights : E$8000
2) Service Fee : E$6000
--------------
Obviously , under Example #2 , one pays much lesser taxes since Invoice B would be tax free . Even though there are two invoices , they can be shipped in the SAME container .
I suspect that all importers implement this mode of computation . Check out TTS and other PI's OMV , they are not that far off . (IMHO, stay with 10% of PML OMV) . Be legally creative !
For those Legal eagles here ; yes , I sought a written legal opinion on this matter . (The #@ lawyer just wrote 2 letters to Customs and it cost me $4500 !) . But then , it's good insurance for me .
iv) Read and reread the link very carefully . Once you fully comprehend it, you tend to feel more comfortable . Call LTA if necessary . The staff i spoke to few yrs ago was really very helpful and professional . LTA has really made it much easier for the indiviual .
http://www.onemotoring.com.sg/publi...ng/information/left/buy_a_new_vehicle0/0.html
The Mixmaster
Well-Known Member
Re: Self Importing ?
Hi
Can someone please tell me if there are any dealers who can help me to import a used car (but less than 3 years old) from the UK into Singapore?
I read in the newspapers last Sat that the LTA would soon amend the rules to make it more worthwhile to import new and used cars (less than 3 years old) into Singapore, but the surcharge of $10,000 still applies.
But I would like to get someone to help me with the paperwork, custom clearance, taxes and vehicle registration. I would be happy to pay for the service of course. Thanks
DJ
Hi
Can someone please tell me if there are any dealers who can help me to import a used car (but less than 3 years old) from the UK into Singapore?
I read in the newspapers last Sat that the LTA would soon amend the rules to make it more worthwhile to import new and used cars (less than 3 years old) into Singapore, but the surcharge of $10,000 still applies.
But I would like to get someone to help me with the paperwork, custom clearance, taxes and vehicle registration. I would be happy to pay for the service of course. Thanks
DJ
bleachberu
Well-Known Member
Re: Self Importing ?
Excellent posts Marcless! Thanks for sharing.
Some quick questions:
1. What about other marques? Presumably the same procedures?
2. How about warranty and service (eg 3 yr free service etc)? How do these elements play out with a self-imported car?
Cheers,
B
Excellent posts Marcless! Thanks for sharing.
Some quick questions:
1. What about other marques? Presumably the same procedures?
2. How about warranty and service (eg 3 yr free service etc)? How do these elements play out with a self-imported car?
Cheers,
B
darkknight
Well-Known Member
Re: Self Importing ?
Well done bro!!!
Will gather more info from u when i'm ready to bring in a Z4...
Cheers!
Well done bro!!!
Will gather more info from u when i'm ready to bring in a Z4...
Cheers!
